Networking is great for building relationships, fostering inclusion, building confidence and expanding knowledge. I encourage everyone to do some networking. Chambers, Associations, free training put on by Escrow, RE and Mortgage companies. Collect cards from EOs and LOs and follow through. You will eventually find out what works. That's generally cold-calling.
Marketing by referral is generally ASKING others to refer you business from friends, family, or other contacts. I'm thinking notaries here. Your contacts are short-lived. Make the most of it. Be creative.
Tell an LO you would like to work with them. You are not under RESPA so you can offer something of value (cookies?) to have them refer you to their EO. There are times a document has to be notarized before closing. Offer to be their go-to person if they refer you to their EO. Offer to sign loan docs in their office if that works for them. LO's are people. Don't be afraid to ask them to refer you to other LOs and EOs. Referrals can take off unexpectedly.
I have had RE brokers ask me for a stack of cards or fliers. Some have asked me for personal loans. They love having a trusted source as do LOs. I think LOs are a much easier egg to crack than EOs who don't really have a wide range of authority or are stuck on using a former employee.
LOs are the ones working closest with EOs, and can excert more influence. EOs want their future business. They also want RE agent business. Make known you are available to agents as well for special needs and ask them to refer you to the EO.
Referral business may help fill in when vendors stop calling or shop for the cheapest signers. |