We all know that referrals are considered the “holy grail” of the mortgage business. They’re an easy sell, and customers are less likely to shop around. But, the reason why most loan originators don’t get a lot of referrals is that they don’t know how to cultivate them. It takes time and an ongoing commitment to building relationships.
If you’re just starting out or don’t have a large base of past customers to draw from, consider joining a business networking group. They’re a great place to mingle with business professionals from other industries, especially if you work from home. And, everyone is there for one reason—to help each other generate referrals. It’s a win - win situation!
Keep in mind that most business groups have strict rules on attendance and meet early ( usually between 7 - 8: 00AM ) before the day has started. And usually only one person from each profession is allowed to join the group. Unfortunately, there’s only one loan officer position, and I must tell you that these spots go fast and are rarely given up! Ouch! With 30 + people giving you business on an ongoing basis, you can see how powerful this can be!
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