How Mortgage Lenders Can Grow Referrals from Homebuyers

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How Mortgage Lenders Can Grow Referrals from Homebuyers

Mortgage lenders should strive to make a lasting impression on their clients. The resulting referrals are well worth the effort.

In addition to marketing your business to potential clients, as a mortgage loan originator, you also need to tap the clients you already have to get more business. Referrals are one of the most effective ways to land new clients because they are based in trust—trust between the person referring your services and the person they are referring you to, and the trust you built during your time with your referring client.

But how can mortgage lenders encourage their clients to spread the word? To help you, we have compiled a few tips that actually work to help you remain top-of-mind when it counts the most.

Care about More Than the Transaction

Building a career as an MLO can be a great way to make a living, but when it comes to your clients, you must show that it’s about more than the money to you. Be there to answer questions and solve problems when they need you. Going above and beyond your job description is certain to make your clients appreciate you and spread the word.

Keep the Relationship Healthy after Closing

Once you close on a loan, you might assume that your work is done. There’s a saying for what happens when you assume.

If you want referrals, the first few months following the closing are critical. Nurturing your client relationships, even just by sending an email congratulating them on their new home, will help you stay top-of-mind.

Make Your Referral Process Simple and Clear

If you don’t make your referral process simple, your clients are not going to bother. The fewer steps your clients have to complete, the better.

Offer a No-Obligation Incentive

While we recognize that increasing your referrals depends on much more than simply giving away free stuff, we also know that the kind gesture of giving a gift can be that extra push your client needs to send business your way. Sending your clients gifts after closing is a great way to show your clients that you enjoyed working with them and appreciated their business.

Here are a few gift ideas that make a great impression:

  • Return address stickers with the client’s new address
  • A tool like a hammer or a gardening implement
  • An information packet on the client’s new neighborhood
  • A gift card to a local restaurant or home improvement store

Whatever gift you decide to send your client, always make sure to include a personal, handwritten note that expresses your appreciation and best wishes.

Mortgage Lenders: Make Things Easier on Yourself with the Right Tools

To make a good impression on your clients, you need to have the time to invest in nurturing a meaningful relationship. With the right tools from wemlo, you can close faster so that you can spend more time helping your clients. Ready to make things easier on yourself? We are here to help as many mortgage lenders as possible. Schedule a demo with us today.

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