At the heart of every referral relationship is a strong desire to help your target audience succeed, whether that’s by advising a repeat customer on refinancing a home loan or partnering with a real estate agent to capture leads.

Here are three additional strategies to help you cultivate referral relationships:

• Research referral sources: Look for potential partners who have similar target audiences as your own. For example, if you specialize in serving first-time minority home buyers, seek out real estate agents who are also interested in that particular sub-group.
• Expand your sphere of influence: For most LOs, real estate agents make up the majority of referral sources. However, it could be mutually beneficial to also reach out financial advisors, insurance agents, title companies and other related groups.
• Collaborate on events: Consider partnering with referral sources on community or online events that can raise your brand awareness and generate leads while providing valuable information about the home-buying process to prospects.

For more great insights on how to boost referral business, check out this infographic from Loan Officer Hub: 5 Proven Habits for Building Referral Partnerships.

Pat Sherlock is the founder of QFS Sales Solutions, an organization that helps organizations improve their sales talent management and performance. For more information, visit https://patsherlock.com.