Simple Strategies to Help Lenders Set Up a Strong Referral Network

Customer referrals are one of the best ways to follow up with new leads. People trust the recommendations of friends and family, which could bring these clients to your doorstep by building a lenders referral network. 

A mortgage CRM can help you manage these leads, but it all starts with the right network. Here are five simple strategies to build a strong referral network.

1. Partner with Real Estate Agents

Real estate professionals can be a great way to gain referrals. And it’s a two-way street — real estate agents can introduce you to potential borrowers, and in exchange, you offer affordable loan options.

Using a Mortgage CRM makes the process even easier. Real estate professionals can drop new leads right into your mortgage pipeline. This lets you take advantage of the professional network built by others in your community. In return, you’ll be providing a valuable service of your own, so it’s a win-win.

2. Host an Event

Community events can be a great way to attract interested borrowers. For instance, you might host an event titled “Tips for First-Time Home Buyers.” The registration process is an easy way to grab contact details and other information to follow up on later.

Bonus tip: partner with other real estate professionals to host your event. That way, you’ll get the benefit of each others’ marketing network and it may enhance the event by pooling your community’s knowledge base.

3. Publish Compelling Content

Publishing great content provides a convenient “entry point” in the referral process. 

For example, a person familiar with your services might not necessarily recommend you to their friends directly. But they might say, “Check out this article on refinancing options.” If the person likes your content, they may be more likely to take the next step and use you as their lender.

4. Follow Up with Past Clients

Past clients make the best marketers. Happy customers will tell their friends about their positive experiences and recommend you to other potential customers.

Follow up with your past clients after the first month and/or after the first year. Let them know you still appreciate them. These small points of contact will remind them of their experience and increase the chances that they will mention you to their friends.

5. Create a Borrower Pipeline

What do you do with a referral once you get one? A borrower pipeline will guide your strategy for converting new leads into satisfied clients. With a well-thought-out pipeline, you’ll be able to adjust your efforts to match different stages of the customer journey.

A mortgage CRM platform can help you manage the sales process, addressing the needs of your clients through every step. It will also automate key procedures to make the process faster and more efficient.

Where Can You Find a Quality Mortgage CRM Solution?

Customer relationship management (CRM) software helps you nurture strong relationships. And relationships are at the core of any lending business. The BNTouch platform can help you with marketing, lead generation, and team collaboration.

To learn more, request a demo today!

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