Last month I wrote about how the market has shifted and how we need to shift with it. This month I want to identify where to look for new business since the business is not where it once was. Some of the core principles for building a book of business:
1. Relationships guarantee longevity.
2. To increase your income you must increase your demand.
3. Visibility is more important than ability.
With these principles in mind, make sure you stay connected with past clients using drip marketing campaigns and occasional personal phone calls. Develop a reputation as the professional who does the right stuff. Cultivate new relationships while nurturing your past ones.
Organize your contact management system because any marketing campaign relies on a good database of information. Develop your business by design, not by accident – don’t just wake up every day and wonder what the day will bring, pre-plan your calendar in advance, blocking off time for prospecting, administration, meeting with clients, etc. Start every day with a dollar-producing activity to ensure you are focused on the right activities that will earn you money.
Who should you be cultivating relationships with in your community?
1. 10-15 Top Producing Real Estate Agents.
2. 10 Busy Family Law or Real Estate Lawyers.
4. Home Renovators.
6. Financial Planners.
7. Bank Branch Turndowns.
8. For Sale By Owner Websites.
9. Small Business Networking Groups.
10. Swimming Pool/Landscaping Companies.
The list could be endless; however, you need to start somewhere. Start by identifying who the best of the best are. Start a campaign to get to meet and know them. Ensure they understand your services are for their benefit. By demonstrating a willingness to help them with their business, you will in turn help yourself. Once you know who you want to build relationships with, you must systemize the “how”:
1. Send a letter to them introducing yourself.
2. Add them to a monthly e-mail campaign with quality information.
3. Follow up with a phone call to introduce yourself.
4. Drop by their office for an impromptu visit and leave some small item they would value.
Continue the regular contact and attempt to frequent places they go to: business networking groups, chamber of commerce, charity events, golf tournaments, etc. Any opportunity you have at a social/business event to connect or reconnect on a personal level will create an environment for future opportunities. Socializing may appear like an after-hours fun opportunity, but top producing mortgage professionals seize every opportunity to connect with a powerful referring source. Remember, they won’t do business with you unless they like you and trust you – that takes time and commitment on your part to foster those relationships.
Watch for next month’s tips for the important ingredients of a profitable website.
I wish you great success this month.
President, Leader’s Edge Training