Please make a note: Michigan mortgage licensing is slated to go into effect April 1st, 2009. On Feb. 24 the commissioner sent out a letter that stated "I am very concerned with the low number of mortgage loan officer registration applications that have been submitted . . . " the letter goes on to say that they expected approx. 10,000 loan officers should be applying. As of the date of the letter less than 1,000 had submitted to the national licensing system and only 55 of those applicants had received formal approval. Scary!!!!! Don't worry I have my approval! (full letter)

Also, I thought I would try doing a survey and then sharing the results with you. - - SURVEY

Building A Referral Network
How to Reach Out to Those Around You

Everyone has heard the expression, "It's not what you know but who you know." Of course this isn't entirely true, but having a successful referral network can lead to a significant increase in satisfied clients with minimal effort on your part.

Have you ever gone into a large home improvement store, trying to find a certain item, only to come face-to-face with a wall of similar products? It can be overwhelming. Imagine if you had an expert right there to tell you what you need to know. Now imagine a team of experts throughout the store, all ready to assist you. This is what a successful referral network should be.

Choose Your Partners Wisely
It is important to select your referral partners carefully. When you recommend someone, your client is trusting your opinion. It only takes one bad experience to sour a relationship. On the other hand, a positive experience will stay in a person's mind and encourage them to return to you for additional advice. Be sure that you are confident about the quality of work your referral partner can provide.

Get To Know Your Network
It is easy to remember that Mr. Smith is a CPA or Ms. Taylor is a financial planner. But what is it that makes them stand out? It's helpful to sit down with other professionals and learn about their unique selling proposition. By taking the time to learn about their specialties, you will be able to provide a more qualified referral. You may also use this opportunity to identify how you work with clients and why your services are worth recommending.

Referral Karma
By teaming up with other professionals outside of your field, you are providing your clients with an extra level of service. Not only will they appreciate it, they will also remember you the next time they need a reliable source. In addition, your referral partners will keep you in mind when their clients are looking for a professional.

Please call me if you would like more information about building your referral network!