4 Ways Mortgage Brokers Can Generate More Referrals & Grow Their Brand

November 10, 2021

As a mortgage broker, you play an important role in the home buyer’s journey. In order to sustain and grow your business, we know how important it is to have a consistent stream of referrals filling your pipeline.

As every broker knows, your success at gaining referrals largely depends on your overall relationship with your clients. In addition to good customer service, you can do some extra things to ensure you are making the most of referral opportunities.

Ask for reviews

The real estate industry is crowded, and buyers can feel overwhelmed with so many options. Brokers need to be able to stand out from the crowd. The best way to do this is to have positive reviews. Even in the digital world, word of mouth is still king!

There are many ways to do this, including sending a simple text message, but you can also get more creative. Send a short video to past clients allowing them to see you and hear the sincerity of your request. If video isn’t an option, you can still personalize your request. For example, send clients a picture of yourself holding a handwritten “thank you” message. Let them know this isn’t just a part of some automated sequence and that their response would be genuinely appreciated. Use the Google review link found in your Google My Business dashboard as an easy way to make leaving you a review less time-consuming.

Build Up Your Social Media Presence

Social media is a great tool to grow your business, so it’s important to be present and active. Facebook and Instagram are two platforms where brokers can be especially effective. Facebook is filled with local groups and regional real estate member pages to join and engage.

Remember that people want to engage with you on social media, not your company, so stay active, but do so under your personal account if possible. Be yourself, and don’t forget to show off your personality. People will be drawn to your authenticity.

Provide valuable and consistent content.

Buyers want to know that you are in this business to help them first and foremost. By creating a steady stream of helpful and relevant content, you will not only provide value, but also create a trustworthy brand people will want to follow and share with friends and family.

Create newsletters where you can continue to keep good relationships with past clients and start a blog to offer tips and insights around the industry.

Go the extra mile!

Your clients have been through the wringer, and getting to the finish line is a big deal!

After a mortgage purchase, reach out to them with a personal thank you, or send them a small care package. Let them know you want to celebrate this moment with them, and this thoughtful gift will both surprise and delight them. They might even share their experience on social media.

Create “New Homeowner Packages” including names and addresses of places in the city you think they would enjoy or lists of websites to your favorite restaurants. You can also include referrals of your own to local handypersons, landscapers, or pest control companies. Building these strategic partnerships will greatly improve your own referral base.

Sometimes the most strategic thing to do is also the simplest. At the end of the day, we are all just people, and business boils down to cultivating good relationships on an ongoing basis. Be the kind of person people love to work with, and they’ll make sure others get a chance to have that experience as well.