How to get more Agent referrals

By Nathan Froelich January 29, 2016

Asking for referrals at any phase of your MLO career can be daunting. Although this is true, giving and getting referrals is a guaranteed way to make more money and grow your book of business.

When preparing to ask for a referral from an agent it is important to clear any fears or pre-convinced notions you might have about their response. The saying, “The worst thing they can say is no,” will only slightly apply here because most likely you will not hear “No.” Next, you must know how you will approach the topic. Simply calling and asking, or using the term “Do you know of an agent who is looking to partner with a MLO?”, probably isn’t your best bet. Instead, be strategic of when and how you will ask.

In addition to the above, here are four things you should implement into your referral strategy to ease the process and earn more committed referral sources.

Ask for an Introduction

Instead of requesting contact information, consider asking your referral source for an in person introduction to one of their agent colleagues. This creates a setting in which conversations will flow much easier due to the fact that you and the referral both have relationships with the source. A good way to approach this would be to take your source to coffee and ask that they bring a colleague. 

Don’t treat referrals like cold calls

Asking for agent referrals should be strategic, not over the phone on an afternoon where you feel like you have exhausted all of your other lead sources. Ideally, you will want to ask your agent contacts for referrals by mentioning it in a conversation that is not about referrals. It is fair to assume that your current agent contacts will respond much better knowing you didn’t just call to get something from them.

Make it a habit

In addition to using the saying “A referral is the best compliment I can receive” in your email signature, make it a part of your daily conversations. A great way to develop this habit is to start evaluating your current conversations with agents and noting where you could have mentioned receiving a referral. The next time you have a similar conversation with an agent contact, slide the topic into the discussion.

Offer something of value

What do you say when you call a referral for the first time? This is an important thing to consider as it can ultimately effect the Agents decision to meet with you or not. Consider offering the agent something of value. For example, by using the Agent Engage Solution, you can provide the new agent contact business building tools and free marketing template. By doing so, you are providing a wow factor to your service that the agent will appreciate and likely share with others.