Optimizing Referral Sources for Loan Officers

Optimizing Referral Sources for Loan Officers

Being a loan officer is about being open to new ways of creating new referral sources for yourself. The typical referral sources consist of real estate professionals, educational institutions, financial planners and so on. Ever wonder how loan officers market and build these partnerships to increase referral business? Check out this list of referral sources for loan officers and how they can increases business opportunities in an exponential way.

Real Estate Professionals

Many loan officers think real estate referral partners are not always needed. This fact is true, but there are approximately 2 million actively licensed real estate professionals in the market today. Social media is a huge part of society and used on a regular basis. This can be used to find and build relationships with these referral sources.

One way to find and build relationships is to consider using a mortgage app, such as If This, Then That (IFTTT) app. This app helps you to connect different technologies to automate functions. This is a great source to quickly reach out to the listing agents and find ways to collaborate.

Educational Instructions

Establishing a presence with local educational instructions is another excellent way to build a network of referral sources for loan officers. Volunteering at local high schools or colleges to talk about the value of saving money and building credit can give educators more information.

Financial Planners

Financial planners as a referral source for loan officers, is a great way to secure high-quality leads that can increase your business revenue. By using LinkedIn to start your search you can show how well you are connected.


Contacting builders in the general area can help give information needed to increase mortgage leads. By thinking of an approach that will allow you to help in the buying process for a builder who has a number of potential customers who want to build a home.

By establishing this type of relationship, you will be on top of recently listed homes and opens the doors to sharing important information about the mortgage industry with potential clients.

Community Relationships

Building relationships with people around the community is very important, especially if looking for referral sources for loan officers. Whether it’s extracurricular activities, religious organizations or any type of location to meet and create a relationship with potential customers, is a great way to network.

For Sale by Owner (FSBO)

Referral sources for loan officers should be extended to the ‘For Sale by Owner’ demographic. Standing out from the other loan officers and real estate agents is very important. It can show these sellers take a different approach by reaching out and showing value of working with potential buyers who are pre-approved.

Current and Past Customers

This has to be one of the most important audiences when considering a referral source. It’s important to not burn your bridges with current and past customers. Maintaining relationships with past customers is imperative to the success of adding more. Social media is a great way to approach this re-engagement of business relationships.

-Kelcey T. Brown, Cheif Strategy Office & EVP
August 8th, 2017