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Jessica Darnbrough
Brokers who want to ensure they receive repeat and referral business from their clients need to work on their scripting.
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Speaking to The Adviser, FrontRunner Consulting's Doug Mathlin said brokers are often not great at working off the cuff, so they need to work on their scripting to ensure their important business messages are conveyed to their clients right the first time.
"Many brokers don't feel comfortable asking for referrals, but any good broker knows referrals are their bread and butter. Instead of winging it and asking your client for a referral at the end of the loan process, work it into your script," he says.
"If you script it, you are more likely to implement it."
Mr Mathlin says brokers should also avoid directly asking their clients for referrals. Instead, he said brokers should explain to their clients how their business is built on referrals.
"Today, people are less likely to recommend someone to their friends or family. If you ask a client whether or not they know anyone who would need your services, they will more than likely say no. But if you tell them that your business relies on referrals and ask them to mention your name next time a friend or family says they are thinking about buying, selling or refinancing, they are more likely to say yes and actually do it."
