Realtor referral business is a great way for mortgage professionals to really make a lot of money. A realtor referral is one where a real estate agent partners up with a mortgage professional in order to get access to his clients. The realtor gets his clients approved and may even get a kick back while the mortgage professional will get a consistent flow of leads.
In today’s market, these referrals are incredibly important for many. Not that long ago, mortgage professionals had all the business they could handle with refinances. That was in a market with tumbling interest rates. Like all markets, though, that one eventually adjusted and today we are back in a more traditional market. So the refinance market is down a little, but there is still plenty of fruit to be picked by the right mortgage pro.
Now, though, there are millions of people around the country who are in the market to buy a home. Home buyers may not be as easy as refinancers, but they can certainly be lucrative to you. That is where your relationship with the right mortgage professional comes in handy.
Why Would They Do It
You may not realize it, but there are realtors all over the place that need your help. You see, most mortgage professionals think that they need the realtors, but the truth is that you can find realtors who need you. Isn’t that the situation that makes more sense when it comes to ease of life for you? The key to cashing in on that situation is finding a system that will help you form multiple partnerships with multiple realtors that will feed you business.
On your end, you have to be able to offer the realtor something, so you should continue to think about that. What can you give realtors that other mortgage originators cannot? You can offer them anything, but it has to be of value to a realtor and make sending you business worth their time.
How it Helps You
When you partner up with a realtor, you are getting business without really doing any work. Your partner realtor is like a walking advertisement for you that funnels leads your way. There is no cold calling, no follow up with former clients, and no sitting and waiting and hoping that someone who needs a mortgage saw your flyer.
If you can get a referral business going with a realtor