Stepping Stones to Referrals

A small river blocks my way to my local pub, the Red Lion, called the River Chelt. When the water levels are low, there’s one place you can cross. It comprises 3 stepping stones and ensures a dry crossing every time. You’re virtually guaranteed to get an early bath if you try and jump the river.

This analogy works in the world of mortgage referrals.

Asking for a referral once the mortgage has been completed often appears a massive step to take. Customers are inclined to say they’ll think about it or get back to you later. It all feels awkward and a tad embarrassing, so we find every excuse not to ask. “My clients will make a referral if they want to”, I hear often.

If you want more referrals, then adopt a Stepping Stones method. There are three steps.

  • Step One – Sowing the Seed. During your 15 Mortgage Discovery Meeting, mention that you grow your business and build your client bank solely by referrals from satisfied clients. That way, you can spend valuable time giving them excellent service. Just mention it and move on, saying you’ll return to the topic much later once you’ve given the fantastic service you insinuated.
  • Step Two – Value Conversation. During your Mortgage Offer Meeting, when the client is elated because their mortgage has been approved. Make the most of this happiness by asking them to relate the value they’ve received from you so far. Once they’ve wallowed in this for a couple of minutes, ask them to give you a testimonial. Use Trustpilot or such.
  • Step Three – The Introduction. During your Mortgage Completion Meeting, when you’re answering any final questions and wrapping everything up, bring up the topic of introductions and referrals. Remind them of that conversation you had all those weeks ago when you first met. Now ask them for some introductions to people they know who would also value the service they’ve received.

My two dogs ignore the stepping stones over the River Chelt; they love to cool down in the cold waters. Have a look. If I try and leap across the river in one jump, I’ll get soaked. Likewise, springing straight to a referral request with no stepping stones will lead to disappointment.

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