Referrals: Always a Good Marketing Strategy
Based on data from the National Association of Realtors (NAR) last year, just under 20-percent of Realtors® generate their clients from satisfied past clients and customers, and 13 percent from repeat clients. This does not include other agents, family members, friends, not locals who send a prospect your way in exchange for you sending them one, or people you have to pay a referral fee. Without a doubt, the data and evidence points to the best referrals originating from those you who you did a great job and are happy to let other people know.
Having said that, don’t drop your efforts to generate referrals from other sources. But the anecdotal data tells you where you should focus your efforts, on customers who really, really appreciated your service.
So the first tip to gain more referrals is to:
Be a truly nice person (and loan officer)
No false manufactured smiles and talking to people with an over-the-top cheerful voice. Besides, most people don’t trust someone that comes off as fake. Simply be sincere, positive, respectful, and friendly.
If you’re not. No better time than ow to start and experience a positive change. As a licensed professional your goal is to be honest and genuinely help clients.
One part of that process is truly listening to what the client is saying or there will be a lot of miscommunication.
Listen to your Client
Give your borrower ample time to share their goals as far as credit and employment, and other factors before you ask them. Be very patient to not interrupt your client in mid-sentence. Allow them to completely finish before you speak. This is especially critical in the early stages of speaking with clients.
Multiple Points of Communication
What goes jointly with listening is methods of communicating. Give your client the option to reach you by either email, text, or phone. Remember, if you allow it by text/email, your writing skills need to be decent or above average. There are situations where you need to convey bad news with an emotional client. You need to be able to write in a caring way and offer a solution.
Show your appreciation to get real estate referrals
Most will say loan officers are a dime a dozen, similar to a realtor or appraiser. So be sure you stand out and thank them at every opportunity for choosing you to help them. That demonstrates your appreciation and kind nature.
Clients are important you to. Make sure they know it.
Create moments of amazement
Partner in with the realtor on a house-warming gift basket, once a year has passed send an anniversary or birthday card, or another gesture that tells them they are significant.
It’s these type of moments that people tend to remember, and let others know and share on social media. By finding ways to make your clients feel special, the rewards it brings are well worth the effort.
Be the best at what you do and acknowledge mistakes
As expected, once you receive referrals from a realtor or your sphere of influence, you must do your best as your reputation is at stake. You know how it goes. You’re only as good as your last deal or you won’t be the first loan officer they call on
Did you know that statistics say that for every good experience consumer’ have, they will on average tell five of their friends. Yet, for every bad experience, as many as 20 people will be told by the consumer.
We all try to give 110 percent of ourselves, but we can’t always provide impeccable outcomes when there are components out of our control that may result in a higher rate or fees, or worse a rejected loan.
So, when there is a problem from one of those components, admit the mistake, even if it’s not your fault and have a strategy to solve it as best you can quickly.
So, get out there and begin connecting/reconnecting with past clients to generate leads.