How to Convert Realtors to Referral Partners

Raise your hand if you’ve ever felt it impossible to gain referrals from real estate agents as a loan officer. It’s especially frustrating considering you are well aware that there’s no better single source than real estate agents to find and qualify buyers. Well, there’s good news: establishing a successful referral relationship while courting your realtor(s) of choice is a hop, jump and click away with the right tools and approach! We’ll walk you through the process right now in this very blog post. When we’re done you’ll know what it takes to develop an inter-dependency between the two of you in creating a long-term mutually beneficial relationship. Ready? Let’s get courting, I mean converting…

How to Build Referral Partners (1)

1.) Research: This day and age it’s all about having access to the right apps. Sure you can join clubs and charities, socialize where realtors socialize or do whatever is asked of you to win their approval, but wouldn’t you rather be in charge? With the help of Envertex Central you stay engaged by seeing realtor performance history, minute to minute realtor performance, all while having access to an extensive database where you connect with the realtors of your liking. Want to start qualifying? Start by getting the app!

2.) Qualify: To build a healthy relationship, there has to be a certain level of compatibility. After finding and connecting with the realtor of your liking, you have to qualify them. How do you know this agent is right for you? Are they open to a new possible relationship with you? Are your personalities compatible? Do you share similar values? You don’t’ have to be best friends but it is a relationship and there has to be a certain level of synergy if you want to convert them.

3.) Convert: How good are you at converting? What’s your process for converting? Do you have a system or style for converting agents to referral partners? What are you willing to do to reach an agreement or commitment to engage in mutually beneficial activities such as qualifying buyers, cross promoting or hosting different things together. You need to get from interested to dealing and you’ve got to have a process for that if you want this to last, otherwise you’re just winging it.

4.) Loyalty: To maintain a healthy relationship, you have to stay engaged and be supportive. How are you going to do that with your clients? Will you be there to support them for social events and help prepare their flyers? Are you going to drive their online marketing? Aside from lending a helping hand when needed, you have to make them feel special. Do you know your client’s birthday so you can send them a birthday card? These are all things you can do so they don’t feel neglected and you remain at the forefront of their thoughts when needed.

Last, but certainly not least, you want to consider having more than one agent in the event that something goes south or they’re simply unavailable. Remember, you’re not always going to be number one in their book. If your agent is already committed to someone else, you won’t be left hanging in the dark if you have Envertex Central and thus, more options. What’s important is to always cultivate the relationships that you do have for when the opportunity does swing your way. Happy converting!