Referrals from previous clients and network partners are the lifeblood of a successful loan officer. Whether you are a recent licensed loan officer or a seasoned professional, increasing your sphere of influence through your database of past clients and your networks is the keys to sustained success.
Continual contact with your database of past clients through email, mail, and phone calls will make you the go-to person for your mortgage product questions. Creating an environment in which past clients contact you regarding their friends and family questions or concerns about mortgages will lead to an increasing number of referrals. Monthly newsletters, timely market updates, and holiday campaigns are just a few of the ways to stay in touch.
To create an effective networking system, you can join or create your own team of like-minded professionals to help you grow and maintain your business. There are numerous local networking groups to assist you in your networking efforts. The following list is just a few groups to help you network and expand your sphere of influence.
Am Spirit: Am Spirit is an organization that is specific to generate referral business for small local businesses. They generally only allow one member per business type. Visit AmSpirit.com for additional information.
BNI – This organization offers networking groups throughout the United States. Visit BNI.com for additional information.
Chamber of Commerce – Use the Internet to search your local Chamber of Commerce website for upcoming networking events. Events are usually scheduled for various times and last less than 2 hours.
Local Real Estate Association – Get involved in your local Board of Realtors event. They probably have an affiliate division and always need help raising funds and sponsorships at events.
Municipal boards and committees: Contact your city council and find out if there is a committee that you can be appointed to or participate in. Ask if there are sponsorship opportunities for fundraising or city events. This will help make your name known to the public and establish relationships with city officials, builders, or business owners who can help you promote your business.
Networking is built on long-lasting relationships that require mutual trust and respect. Both of you must believe that you are knowledgeable and professional in your area of expertise and that your team members will handle all clients quickly and professionally. Networking requires a win-win approach in which both parties benefit from the relationship. Loyalty is a two-way street, understand that your commitment to your network partner must be to grow your business and, in turn, your business must flourish from their referrals. In essence, you are creating a sales force to promote the business of others.