Loan Market Manningham’s procedure for following leads is pretty simple, owner Daniel Esposito explains: “As soon as you get that hot lead, you’ve got to call the client ASAP – it’s as simple as that.” It’s a no-nonsense policy, typical of a brokerage that prides itself on quality referral relationships and straightforward dealing.
Whilst many of the brokerages on this list have detailed procedures for database marketing and rewarding referrals, Esposito is a believer in the human element. “As long as we do a good job initially, we hope we will receive that referral from clients,” he says. The brokerage has dealt with a huge number of clients over the years, many of whom return or even refer their children. Evidently referrals do happen naturally, because the brokerage no longer advertises its services.
“It all comes down to how you talk on the phone, I think,” Esposito says. It’s all about patiently building trust and not taking leads for granted; the clients might have other issues they haven’t mentioned to the referrer. Accordingly, the brokerage looks for new hires who can build this trust – well-presented, honest and sociable candidates, ideally with foreign language skills.
The broker deals with professional referrers in much the same way he deals with clients. “There are a lot of brokerages out there,” warns Esposito. “It’s not easy just to latch onto a referrer … I always say you’ve got to communicate with them; if they call you, you’ve got to get back straight away – not in an hour, not in two hours.”
Esposito also factors his referral relationships into his strategy; this year he wants to focus on financial planning, but believes it’s better do this through financial planning partners, rather than bringing one in-house. “We can’t be too greedy out there,” he explains. “I’m a true believer that you’ve got to concentrate on what you do best.”