Mortgage Brokers

[DFresh]

Donuts are getting old, real estate offices and mortgage brokers get flooded with them these days. Half the time I don't think they know where they came from. Any other good ideas as to what might work? Something creative.

[clloydjr]

DFresh,
Try this. Forget altogether about donuts and other stale methods of trying to get these referrals. Instead, arrange a meeting with the broker and let her know that you would like to send her referrals as a value added service to your clients, and you need to know what type of person would make a good prospect for her. I think that the idea of you sending her new business will be more appealing to her than donuts. And most likely, after she gets a referral from you, she will want to return the favor, and you will have a new referral relationship, not just a referral. This will work with most any type of business, not just those that you usually think of as a referral source. Wouldn't a plumber or mechanic want new business? Most anyone out there can help you build your business. As Zig Ziglar says, "You can get anything you want out of life if you help enough other people get what they want." If you work on those referral relationships the referrals will take care of themselves. This will also work for prospects, but I just assumed that you were speaking of trying to get referrals.
I hope this helps.

[jinman]

The husband of a friend of mine used to make tamales - she would bring these to prospects - worked almost every time. Also, breakfast sandwiches. Rather than donuts, most folks don't think of a breakfast sandwich as a sugary no-no.

[captivenomore]

I have had good success with fruit baskets. I just bought the stuff at the grocery store, put it in an attractive box lined w/tissue paper, and stapled my business card to the front. Much better response than when I brought sweet stuff. I have written new business directly because of this. Don't forget the front desk staff. Frequently they are a better source of referrals than the big wigs.

[InsuranceAgentinAZ]

My husband started an insurance agency 2 years ago and I have since left a major carrier to join him. We attached to a mortgage company so we could have all of their referrals rather than have a walk-in business. They refer everyone to us and in exchange, we hold contests with prizes, etc. From our understanding, fruit baskets, donuts, and other food just doesn't cut it. Unfortunately, they prefer bigger ticket items (i.e. Suns tickets, Diamondbacks tickets, cash, etc.). This has come directly from numerous brokers. If you want success...consider holding a raffle with incentives. Send out flyers stating that the broker with the most referrals in a month gets a gift certificate or something. Remember that they most likely have friends in the insurance business already...for you to take them away from sending their referrals will take a little bit more of a prize. Good luck!

[volstrike3]

Mortgage brokers, Loan Processors and Title company people seem to be fond of Starbucks gift cards or manicure/pedicure gift certificates as well. I only give them as a thank you for new business. If you give them something for nothing, you are just one of the many people pandering to them and you look pathetic. Someone was right when they said the brokers like high dollar items so I avoid the brokers and go strait to the processors.

Another idea is to contact the homeowners one year after they purchase the house. They usually take any policy they can get during the frantic rush to close the loan, you can usually compete favorably and earn a long term client after the first year.