The Power of Connection in Your Mortgage Business

There are hundreds of effective strategies you can employ to successfully grow your mortgage business. Learning to maximize your network of connections is certainly among the most valuable. The importance of the hundreds (or thousands) of contacts in your database can’t be overstated. We need a steady stream of clients to make our business sustainable, which makes it crucial to cultivate new, genuine connections, and to leverage our existing ones. Here are a few areas to focus on when actively building your network:

Your Existing Network

We can also call our existing network our Sphere of Influence (SOI). These are people you’re already connected with, most of which you probably know personally—family, friends, industry folk, and other acquaintances. Your SOI is possibly the most valuable resource to leverage in your business. By maintaining—and growing—this network, you increase your chances of getting both repeat and first-time business. Just make sure any business-related contact is meaningful and contains something of value. Even the people who like us most will find frequent solicitation tiresome.

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Your Current and Past clients

Anyone you’re currently helping and anyone you’ve worked with in the past are key relationships to maintain. Work hard to form authentic connections with each client by showing genuine interest and keeping in regular contact. This shouldn’t end after the closing. Establishing and maintaining a connection with current and past clients is a direct investment in your business. The better your bond with your clients, the more likely they’ll be to send referral business your way and return to you each time they need mortgage assistance.

Your Team

Strengthening your connection to the people you work with is an area that deserves your effort, as well. This includes everyone you work alongside in your branch, along with any other professionals you keep in contact with. Including coworkers in social activities outside the office can help you function better as a team. And, a solid team dynamic helps everyone thrive—both individually and as a branch.

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Your Referral Partners

It goes without saying that referral partners have the potential to supercharge your business. Connecting with Realtors, financial planners, builders, etc. and forming partnerships is a cornerstone of our business.

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Building a broader network and strengthening your existing can only help your business. If you’d like to discuss a plan to build your network, or anything else industry-related, I’m always happy to schedule a call.