For anyone involved in any commerce, the most common advice you would receive is to network heavily. Many positives have been attributed to the power of networking. At this point, it may sound like something out of a fairy tale. As a mortgage loan originator, you may not be exactly sure how all this applies to you.
You need to know that while some of these stories about having a network can be exaggerated, a solid network means you’ll have it easy to bring in new clients. It’s one thing to say what it can do for you, but it’s another to illustrate how it will.
In this article, we look at a few ways through which forming a network of close associates and others will enable you to attract clients consistently.
Networks Allow You to Spread Word
As a mortgage loan originator, you know you can’t operate in a vacuum. It would help if you reached out to people to have any chance of bringing in new clients. Whether you are an institution or an individual, connecting with other industry professionals puts you in a position to build your relationships and widen your referral network.
For instance, you can rely on the following classes of professionals;
- Appraisers who have information on which real estate agents in their circle are currently selling more homes
- CPA firms and accountants may have clients looking to purchase or dispose of their homes.
- Relocation specialists and other moving agents who may direct clients your way
- Teaming up with real estate appraisers and listing agents to cross-sell each other.
An Opportunity to Sell Yourself as a Mortgage Loan Originator
As an MLO, it’s safe to say you haven’t come this far without having worked well with a few customers. Just because you successfully signed the mortgage papers doesn’t mean communication between you has to end. If anything, it should be an opportunity to foster deeper ties.
Of course, once you have successfully set up a mortgage, this puts you in a good light with your client. You can take advantage of this good relationship to ask your client to suggest you to other people they may know who require a mortgage. Even if they won’t bite, the least they could do is give you an ear.
That is your opportunity. You can sell yourself to this new person and create a similar bond that you can leverage to bring in new clients.
Referrals Become Easier
Even though it is ancient, one of the best and most trusted ways of expanding your reach is through word of mouth. It’s not uncommon to ask for referrals from those close to you. Similarly, it’s normal for someone dear to refer you to an expert who can fulfill a need you may have.
When you have a network of professionals and clients around you, it becomes easier for these people to refer you to their networks and close relations. All it needs is for you to have a close and cordial relationship with them.
Need Help Building a Network as a Mortgage Loan Originator?
While a network is essential to success, it doesn’t come easy. Gone are the days when you had to have a Rolodex of your most important contacts. Now, you can rely on the versatility CardTapp affords you. Here is an app that lets you launch marketing campaigns, streamlining your sales processes and expediting follow-ups easily. Moreover, you don’t need to know how to code to get it up and running.
The app comes with useful tools such as calculators and a search function to help you craft engaging borrower experiences. With the capabilities of this app in your hand, you are guaranteed a superb method of building relationships with your closest relations and other individuals from anywhere in the world.
Would you like to see how CardTapp works? Try it out for free now!