Be Known For What You Do

"I heard you are the guy who can close loans fast." This is how all of my referrals began their conversations with me about applying for a mortgage. During the real estate bubble years, this was my calling card and generated me more income for less work than compared to my colleagues.

The competitive advantage I emphasized was the ability to close every loan I originated within one week, three times faster than the industry average. Fast turn time offered convenience, efficiency and fewer headaches for borrowers. When referrals contacted me they expected to get their loans closed fast. When I delivered on this they were apt to let everyone know about it.

When you focus on your competitive advantage, other aspects such as price, rates, company, location or products are secondary. I made sure everyone I talked to knew that I was the one who would get it done fast, and then delivered on this every time.

Find your Calling Card

Determine what it is that sets you apart. Come up with what you want to be known for and make sure it is on all of your marketing and in every conversation you have with everyone.

Deliver

Deliver on the expectations your referrals have. Your reputation is your most important asset. Be reliable and when you get it done make sure that your customer knows it.

Ask

Sounds simple but many salespeople never ask for referrals. This is a huge mistake that separates the top performers from the rest. Never be afraid to ask for a referral no matter what the situation. Try to get contact numbers and ask if you can do a conference call with a prospect.

Offer

Offer incentives for Referrals. Major companies do this all the time. Put Referred By: on your marketing and the back of your business card and then reward people who refer you business.

Stay on Top of Mind

Keep in touch with every client you work with and identify opportunities that you can reach out to them. Become a trusted advisor by constantly updating your referral network on your industry.

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