Do you feel like you are stalking the lenders and realtors in your area trying to get them to send referrals your way? Do you visit their LinkedIn, send out emails regularly, or ask them to meet for a cup of coffee more often than you should? Not only are these tactics annoying (usually for all involved parties, including you), they are not typically effective.
Instead of continuing using the methods that do not work, you must implement tactics that will help you get the desired results. To accomplish this, you must focus on creating value. What can you do to help them in return if they send referrals your way? The first step to this is to change the dynamic between the lenders, realtors, and you.
Selling Insurance is Harder Than Other Industries
If you are in the insurance business, you know it is a constant hustle. You always must be on the move, calling your existing clients, and trying to wine and dine as many lenders and real estate agents as possible to ensure you have new clients coming in.
While selling insurance may seem like a boring industry, this is not true. To be successful in this field, you must get out there and work for it. There is also a lot of competition, so you have to convince home buyers, realtors, and lenders that your services are better than your competition. You also have to answer the question “what’s in it for me” when it comes to getting more referrals.
What Makes You Different?
Insurance is insurance, regardless of how you cut it. While you may be able to slap a dress on it and call it something new, in the end, you are providing protection. Even if pitching the “new name” works for you and gets your foot in the door with a referral source, how can you turn this meeting into a relationship that will continue feeding you new referrals?
The answer is to develop a relationship
You can foster and grow this relationship with realtors and lenders by focusing on helping these individuals build and grow their business, rather than just focusing on your own. When you help them with something, there will be a natural obligation to reciprocate and help you. Remember, just like you, real estate agents and lenders do not want more dead-end coffee meetings, drinks, or gifts – they want to get to another level in their industry – just like you.
Are You Ready to Build Relationships and Get Referrals?
Do not get discouraged. Not every real estate agent or lender you talk to or do something for is reciprocating. However, you will find some who are willing to do this. The key is to keep trying and never give up.
You can also use the services of the professionals who have developed lead generation strategies for anyone in the P&C game.