One thing I learned a long time ago is the best advertising is from a happy client. Why blow your brains out on advertising when you can channel the power of your past and current clients to generate more leads? One of the most powerful types of marketing is referrals!

"We've all heard it before ~ it's 6x more expensive to attract a new customer than it is to sell a past customer. But did you know that also applies to referral business?" Chris Bisson, previous Mortgage Broker and Top Producer.

When do you ask?

Yeah, I know you get this. So when's the ideal time to be asking for leads? I think you have two "no-brainer" times to set the stage and ask. The first time to ask is near the middle to end of the first meeting. I recommend a subtle ask. Use something like this: So Bob, How am I doing so far? ... Good. You know one of my goals is to do such a good job for you that you'll do exactly what Jack did, and refer your friends and family to me. So please do me a favour, if something isn't going right, can you promise to let me know? Great.

The next time to ask is at the end of your sign-up meeting, when your customer is signing off on the mortgage paperwork. This can happen on-line, over the phone, or in-person. Just be sure to ask something like: Bob, how'd I do? Do you feel comfortable referring your friends and family to me? If they say yes, you can tell them that's the type of thing that makes your job so rewarding. If they say no, you now have an opportunity to make things right. This is a huge opportunity, by the way, because someone who wasn't a fan can turn into a raving fan based on how well you solve their problem!

Next steps

Don't try this cold turkey. The best sales people practice before they play, just like a great musician plays and practices for hours before giving concerts. Be sure to practice your "speil" 5-10 times for each and you'll be well on your way to increasing your referral business. Let us know how you make out!

A Message From Our CEO

Value Connect's integration into Filogix Expert was a huge success in saving brokers time and money. We want to give a special thanks to Filogix and brokers for the overwhelming support of our new feature. Brokers tell us that our "One-Click" appraisal order feature in Expert was long overdue. Haven't tried it yet? Try ordering your next appraisal report straight out of your Expert mortgage application.

Watch our 2 minute video on how to place an order: Click Here