The real estate game is constantly changing with the players rotating in and out. Whether it’s realtors you’ve been working with or past clients you’re still connected to, depending on them to provide consistent business isn’t possible.
To keep your work flowing, you need to have referrals for new work when the regular work is slow. But do you know how loan officers get more referrals? Read below for some help.
1. Exhibit excellent customer service.
The trait that realtors most commonly state they want from a loan officer is excellent customer service. They want the loan done with a minimum of fuss and for it to be easy for the buyer. They want honesty—if the buyer can’t qualify, explain why and help them figure out what to do rather than leading them on. They want good communication—answer your phone even if it’s the weekend. And they want to make sure the closing agent has everything they need a day ahead of time.
Make the realtor look good and the buyer happy with your service. That’s how loan officers get more referrals.
2. Provide value.
Marketing in today’s world is all about content, and that includes the real estate market. Today people want to understand what they’re buying—they want to know what an ARM is or what the latest rates are.
Create a flyer that talks about your business and provides a guide to the loan process. Pass it out at a real estate school or a realtor meeting. Send a newsletter to prospects with rate information or mortgage definitions.
By sharing your knowledge you’ll get a lot of people looking your way when they need a lender.
3. Stay connected with your base.
The most common method by which loan officers get more referrals is through the people they know. Because the real estate game is a long one, it’s critical to stay connected with the people in your database. A regular newsletter can combine providing value and staying connected.
Regular updates on what’s going on in your world keeps you on their mind.
Here’s another resource you or your team may be interested in: 10 Tips on How to Find, Attract, and Keep Top Producing Loan Officers! Check out these ten powerful tips to help you build and keep a top producing team.