The Post-Funding Framework to Guarantee Referrals
Expressing gratitude lay down a strong foundation to build long-lasting relationships. It makes people feel awesome about the way they do their job. Gratitude is rewarding for both who is receiving and for whoever is practising it.
Letting referral sources know how great it is to have them as a key component of the business helps to guarantee future deals. Being thankful also makes them feel like they are endorsing a loan officer that truly cares about the satisfaction of their clients.
Although gratitude encircles and attracts many positive feelings, it is hard to exercise it in a world where social media, emails and pitches are cold-blooded. For that reason, personalization is important to bond with realtors and brokers.
It is understandable loan officers want to optimize the time they dedicate to put together kits with appreciation messages. Yet following a simple scheme to strengthen and maintain relationships with realtors and brokers, loan officers ensure a steady stream of referrals.
Make the Call and Tell them your Goal
Once there is a relationship with the referral source, loan officers should make a funding call – which is basically an invitation to take an active part of the business. Mention to realtors case studies of satisfied former clients and some of the perks of working together.
After they expressed their excitement, tell them you have a goal of getting 2 referrals from them. Keep in mind this is a two-way relationship: they should also be aware of the benefits they obtain from recommending you as a trusted loan officer to manage the finances of their customers.
If the realtor or broker agreed to this, you are all set and ready for the next step.
Build a Thank You Kit
The kit should be personalised with items that are relevant to the industry and should be sent to their homes. For example, if the referral comes from realtors maybe a key chain with a house, flyers with trends on housing business and important data, healthy snacks or wellbeing advice are a good option for busy people.
In any case, all thank you kits should include up to 5 business cards. Giving too many business cards changes the whole feeling of the kit from grateful to pushy.
Send a Personalized Email
The first follow-up email should be about if whether they got the thank you kit or not.
Remind them how important this alliance is for your business and mention some key points discussed in the first conversation.
Don’t send generic “thank you” email, as it undermines the intention of the kit.
Follow-Up with a Seasonal Kit
Keep in touch with referrals sources by sending them seasonal kits with business cards and emails with an invitation to share their financial concerns about the industry.
Ask them how you can be helpful to extend their reach and land more clients.
Seasonal kits are usually sent every three months, but in between loan officers should engage in conversations with their referral sources.
Conferences, training courses and newsletters are great to keep their interest, maintain high expectations and establish yourself as a leader in the industry.