Smart Loan Officers Get Referrals from these 5 Uncommon Sources

We work in a referral business, and smart loan officers know that half the battle is increasing their referral sources. It’s about being creative and being willing to think outside of the box.

• Educational Institutions

We’ve talked to multiple loan officers that identified educational institutions as one of their most important “alternative” referral sources. Think about offering to volunteer at a local high school or university. Talk to students about the importance of saving money, and how it’s never too early to start saving for a home. Develop an engaging infographic and hand it out, being sure to include your contact information at the bottom. Remember, the key to winning a referral is always offering something of value. In this case, it’s your knowledge!

• For Sale by Owner

Demonstrate the value of working with potential buyers that are pre-approved. Create a branded handout that explains the mortgage process. This will accomplish two things simultaneously:

1. If you pre-approve leads for them, they’ll turn into business for you

2. If they are selling, they’re probably also buying, and you’ll now be top-of-mind

• Community Relationships

This goes back to what we said regarding educational institutions: offer something of value, and you will get business. Think about your community—from coffee shops to places of worship, there are innumerable places where you can make yourself a resource.

• Home Builders

Develop an approach that allows you to streamline the buying process for a builder who has multiple projects in the works. For instance, you can vet qualified buyers on your end so they don’t have to.

• Financial Planners

People with financial planners are, obviously, more likely to have their finances in order. Their clients are most likely exactly the kind of clients you want. Develop mutually beneficial working relationships with financial planners so when their clients are ready to refinance or upgrade to a new home, your name will be the first to pop into their head.

For more information on ways to gain more business and streamline your processes, check out our great white paper, “GETTING REAL ABOUT THE TOP REALTOR AND LENDER CHALLENGES.”

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