How to Build Your Referral Network Without Ever Cold Calling – NMP Skip to main content

How to Build Your Referral Network Without Ever Cold Calling

Ron Vaimberg
Oct 26, 2011

Let’s face it, almost every mortgage loan originator (MLO) in the country hates cold calling. I too am not a big fan of it, as there are so many other ways to grow your referral business, and many of them are much faster. I am a big believer in using resources that are already available to you, rather than trying to start from scratch. Oftentimes, MLOs have tremendous business building resources in the palm of their hand, yet they don’t use them to their fullest extent. Some originators believe they need to focus their energy on learning what they believe to be the latest and greatest marketing technology, instead of using resources that are staring them right in the face. Take this three question test: ►1. Do you have any strong relationships with real estate agents? Even one relationship is good. ►2. Have you ever actively asked your real estate referral agent partner(s) if they would introduce you to other agents in their office? “Actively” means that you consistently ask, versus just waiting for your agent to offer to introduce you to other agents. ►3. Have you ever actively asked your real estate referral partner(s) if they would introduce you to an agent in another real estate office? Having trained and surveyed more than 100,000 LOs in the past five years, here are the statistics of the answers to these questions. Survey results ►97 percent of LOs stated they have at least one strong real estate agent relationship. ►Less than 40 percent of LOs have actively asked for introductions to agents in the same office. ►Only two percent of LOs have asked their existing real estate agent relationships for a referral to agents in another office. ►When originators are asked “why” they don’t ask for referrals to another office, 98 percent of them respond, “They never thought of it.” One simple strategy you can implement immediately is to start “actively” asking your existing real estate agent partners for introductions to agents both inside and outside of their offices. If you have a strong relationship with the agent, they will have no problem referring you. The final key to implementing this success strategy is to know how to ask your real estate agent referral partner(s) for the referrals. To make implementation of this strategy easy for you, please feel free to visit WarriorSalesAcademy.com/agentreferral to watch a video that explains exactly how to execute this strategy. In the event that you do not have even one single real estate agent relationship, simply start asking everyone in your sphere of influence if they know any agents. You can ask, friends, family members, accountants, attorneys, even your dry cleaners, etc. … and I guarantee you, someone will know an agent and introduce you. Ron Vaimberg is president of The Warrior Sales Academy and a leading national trainer and coach to MLOs. He may be reached by phone at (866) 360-6645, e-mail [email protected] or visit WarriorSalesAcademy.com.  
Published
Oct 26, 2011
Cleveland Cavaliers Partner With Fast For A Streamlined Checkout Service At Rocket Mortgage FieldHouse

Cleveland Cavalier fans can now purchase their favorite team merchandise with the ease of one-click at CavaliersTeamShop.com or while attending games at Rocket Mortgage FieldHouse.

Sales and Marketing
Nov 15, 2021
Finance Of America Reverse Updates Its Brand Assets

Finance of America Reverse announced the launch of its updated brand assets with what the company says, “reflects its modern identity and impactful relationships with customers.”

Reverse
Nov 12, 2021
How To Build Your Purchase Business As Refis Dry Out

There is no better time to start thinking about building your purchase business as the refinance pool begins to run dry.

Community
Nov 08, 2021
Arlo To Launch Mutual Marketing Community Advertising Platform

Arlo, a digital advertiser for the mortgage industry, announce that it is launching a community advertising platform, Mutual Marketing.

Sales and Marketing
Nov 02, 2021
Know What Makes You You

It’s not just what you offer, but who you are that will propel (or impair) your sales.

Sales and Marketing
Oct 25, 2021
Video & You

Show your personality. After all, you are your own brand.

Sales and Marketing
Sep 30, 2021