Begin by identifying all relevant contacts like local accountants, local bank branches, conveyancers, real estate agents and sporting clubs. Make a detailed list by putting down as much contact information as you may have, including Business Name, Key people, background about business.

Once you’ve identified your contacts reach out to them and let them know that you would like to introduce yourself with the intention of referring them business or providing tools to helps them generate sales. Look at building a relationship with them by first adding value to their businesses before asking them to refer clients back to you. Here are a few sources you could begin with.

  1. Local Banks: Reach out to your local banks. Introduce yourself and gradually build a relationship. Banks have a lot of customers that do not fulfil requirements for certain type of home loans. Despite not qualifying for some of their products, a rejected home loan applicant can still be a potential customer for the bank for some of their other product. The bank can continue to maintain a good relationship with this potential customer by referring him/her to someone else who can help them with their home loan need. Work on convincing the bank that you could be the professional that could help such potential customers with their mortgage needs.
  2. Financial planners: If you sign a client, check if they are looking for some form of income protection. Refer clients to a good financial planner as a way of building your relationship. After a few referrals ask the planner to refer their customers that are looking for Lending requirements. Additionally, keep your targeted financial planners aware of the kind of savings or issue resolution you have been delivering for your clients. This could include a significant reduction in repayment size thanks to refinancing or finding the right mortgage solution for a client with a blemished credit record. Financial planners are about finding their clients the right financial product and boosting their savings.
  3. Accountants: Rather than trying to sell their clients mortgages begin by offering finance for other more straightforward needs like vehicle loans, small personal loans etc. Once you’ve built a relationship by providing them with good service and assisting them with their immediate needs, you could gradually approach them with home and investment property loans.
  4. Real Estate agents: Identify local real estate agent through popular sites. Begin by targeting professionals who have a good reputation in the local area. Utilise the Yellow Brick Road Real Estate templates to provide the Real estate a tool to assist them in selling more properties. Upon developing the relationship and helping their business, then ask for Home Loan referrals in return.
  5. Local Event Sponsorships: local event sponsorships are an extremely cost-effective way to connect with your local community. A sponsorship at your local sports club or local school could present you with the right opportunity to feature your content or advertisement in a local newsletter or be physically present at a local event to network with prospect clients. If you are the franchise of a leading mortgage brand, typically your organisation will provide you with the tools and resources on how to approach these clubs successfully.
  6. Social Media:Help prospective clients with their research by sharing with them valuable content. Social media is a great way to pull back prospective clients to useful content. The more prospect clients consume and benefit from advice and inform you share, the more likely they are to reach out to you for business. Social media is also the perfect medium to share genuine client reviews and testimonials. Be consistent with your social media posts. Also, respond in a timely manner to comments and feedback to make the most of your social media efforts.

Finally, continue to nurture your relationships. No matter how established and mutually beneficial your relationship becomes, do pencil in time for meetups. The occasional tray of doughnuts with a ‘Enjoy your morning’ card or a quick coffee catch up or lunch is essential for the long-term health of your business relationships.

If you are looking at buying a mortgage franchise or joining a mortgage aggregator, check on the kind of support they would offer you on building and nurturing your referral list. A good organisation should provide you with all the support needed to kick start your business. Reach us to know more.