The referral pipeline can form a major cross-section of the cases you are generating, particularly after you have been established for a reasonable amount of time
When you first start out as a mortgage and protection advisor, one of the hardest things can be getting your name out in your local community and advertising the fantastic services you offer. As a residential finance expert, you can help first-time buyers, those moving house and re-mortgagers by giving critical advice and guidance, as well as assisting in managing parts of the process on their behalf that will save them plenty of time and lots of headaches. But the question remains, how do you let people know what you are doing, how do you secure those first few clients?
There are a variety of different approaches that have been adopted by franchisees in the Your Mortgage Plus network in the past, ranging from aggressively marketing on social media to attending networking events and many more. After some time, however, you may find individuals approaching you directly more often. As you deliver a quality service and leave your clients with a good impression, they will begin to recommend you to their friends, family, and work colleagues.
This referral pipeline, as it is sometimes called, can form a major cross-section of the cases you are generating, particularly after you have been established for a reasonable amount of time as more past clients refer business back to you. However, one of the benefits of joining Your Mortgage Plus is that because of its sister network of commercial finance brokers, you have the chance of collecting referred work directly from another financial professional, without having to do a spot of marketing yourself.
This was the case in a deal that completed recently with Pepper Money. Referred by a commercial finance broker in the network, the loan of £250,750 was for a property purchase in Kent on a £295,000 house, resulting in an LTV of 85 per cent, which generated total commissions of £1,748.75 for the franchisee, and was more or less placed directly into their hands – something that is typically uncommon in the profession.