What is a Good Mortgage Referral For a Loan Officer?

By Matthew Gladen

Mortgage Borrowers have many considerations when determining what mortgage they want and who they should work with. Many times the cheapest loan officer has terrible service, while other loan officers put more monetary value on service than is really appropriate. Borrowers have to determine what the value of good service is worth to them.

Many factors should be considered when determining how much customer service is worth... but have you considered how many Good Referrals you will give to a loan officer that provided you with a competitive loan product and good customer service? If the answer is 0, you are urged to reconsider. After all, why would you want to withhold this loan officer's information from your friend's family and neighbors? Most loan officers will use a referral of a friend, family or neighbor as a simple introduction opportunity in an attempt to increase their future and long term customer list. Quality loan officers will not badger people or pressure them into something they don't want; but rather provide them with a professional source willing to help them when they are ready to purchase, refinance, etc.

• Most borrowers don't think they have any good referrals. The reality is a good referral is anybody who owns a home or might want to buy a home in the future. Remember, when you provide a referral you are not making a personal statement that person is going to do anything. You are just providing a testimonial and contact information as a way for that loan officer to drum up a little more business.


• That is everyone you know! Many borrowers don't want to provide a loan officer with a referral because they are afraid that their friend will get upset because they will get telemarketed. The reality is a good loan officer will contact your referral, make an introduction and offer their current or future assistance with a mortgage. As a referrer you should always contact everyone whose information you provide; tell them you gave them as a referral and let them know why. Most people will not get mad, but rather appreciate your gesture of kindness.

Should you provide referrals to a loan officer that provided you with poor service or didn't meet your expectations? No! And, you should let that loan officer know why he/she didn't meet your expectations. And, if they don't ask for referrals, you shouldn't volunteer them.... Although if they did a good job there is nothing wrong with passing out a few cards.

Matthew Gladen is a top internet marketer who works with industry leaders from around the world. He has a passion for helping others achieve their goals, dreams and aspirations. To learn more about Matthew Gladen and his team of Marketing Mentors visit http://www.myeasyinternetincome.com