Rachael Ossovicki | Loan Officer

7 Great Referral Sources for Loan Officers

Consider these examples to embrace these important referral sources and increase referral business

How savvy are you when it comes to referral sources? Real estate professionals, financial planners and educational institutions are a few resources you should tap for driving business opportunities your way.
Your ability to capitalize on referral sources depends heavily on how you market yourself and build relationships with these people. Consider these examples to embrace these important referral sources and increase referral business:

1. Community Relationships

When it comes to the community, bonds around commonality can be the strongest. Consider educating churches or other religious organizations on topics, like the importance of good credit scores or how to secure a loan. You can also do the same for any groups you’re active in or an alma mater. Spending time with members of these groups helps build great relationships with potential customers.

2. Financial Planners

Potential customers already aligned with a financial planner are more likely to have their finances in order. If they need to refinance or upgrade their home, it will be much less work on your end. Be sure to build a partnership with the financial planner that’s a two-way street.

3. Real Estate Professionals

Create a customer referral pipeline by building mutually-beneficial relationships with real estate professionals. Attend open houses and be a resource to prospective buyers, providing information and insights about their financing options. You gain access to a pool of potential clients in exchange for making the borrowing process easier to understand.

4. Educational Institutions

Volunteer your time at local high schools or colleges to explain the value of money management, responsible spending and building/protecting credit. Your service will expand your reach to a large number of future home buyers – even their families. Keep your business card and contact information on hand at all visits.

5. Home Builders

It’s no surprise home builders have access to customers ready to buy homes. Set yourself up as the go-to resource for helping customers building new homes understand their finance options and next steps.

6. Current and Past Customers

Social media is a great way to approach re-engagement with past customers. Going to a closing is also a simple way to show you care about the future success of your clients. This gesture allows you to stay relevant in a customer’s life even after the loan has closed.

7. For Sale By Owner

Reach out to them and show them the value of working with potential buyers who are pre-approved. You will be top-of-mind in your community, assisting a seller with valuable information – at no cost to them.

We hope this information has been useful to you as you build your business as a successful loan officer. Consider taking at least one of these actions each month to enhance your relationships with referral sources. Have questions about these tips? Contact Mutual Title today.

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