According to MGIC’s 2024 Loan Originators Survey Report, 86% of loan officers say that excellent and responsive service is key to providing value to real estate agent referral partners. 

Providing great service looks the same whether it’s for your partners or your customers. After all, your real estate agent referral partners are your customers, too – they depend on you to meet your commitments, and they provide something valuable in return in the form of referrals for new business. Here are 3 key strategies to strengthen these relationships and become the go-to loan officer for your real estate agent referral partners.  

Make connections on a human level 

Build true relationships, not transactional ones. Referral partnerships built only on transactions can disappear after the first hiccup. Get to know your referral partners as people. Find commonalities, whether professional or personal. When you build connections on a genuine level, you build trust and loyalty.  

Communicate, communicate, communicate

You really can’t overcommunicate with your real estate agent referral partners. When working on a transaction with a partner, communicate early and provide ongoing updates – even if the update is, “Everything is on track,” or “I don’t have an answer yet on your question, but I’m working on it!”  

When establishing a referral relationship, ask them how they prefer to communicate. Beyond phone call versus text versus email, some referral partners may prefer you gather updates and questions and save them for a check-in, and others may prefer to field those updates and questions as they pop up. Your referral partners will appreciate your effort in flexing to their preferred communication style – with the bonus that you’re more likely to receive prompt responses from them.  

As your referral relationships grow, check in with real estate agents regularly. Don't wait for agents to reach out to you, and don’t just reach out when you need something. Your consistency will keep you top of mind and reinforce your role as a go-to mortgage expert. 

And it should go without saying, but I’ll say it: Be responsive. Don’t leave referral partners hanging! 

Meet – and exceed – expectations 

When you work with a referral partner, you may not sign an official contract that lays out the exact hours you can be expected to pick up the phone, but being clear about what real estate agents can expect from you is critical. Share your service level agreements (SLAs) with referral partners up front – whether it’s a commitment to return all calls within a set time, or a closing time guarantee.  

When you consistently meet those commitments, you’ll set yourself up as the loan officer that real estate agents want to call first.  

Finally, ask your real estate agent referral partners for feedback. Each transaction, co-hosted event or other joint effort is an opportunity to refine your approach to offering value to referral partners! These strategies ensure not just successful transactions but mutually beneficial partnerships that drive long-term success.