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Tips, Tools & Tricks of the Trade
Doug Smith

Doug Smith, founder of Douglas Smith & Associates, is a 24-year industry veteran. His career spans the areas of loan origination, sales training, management development, marketing, personal coaching and corporate sales. Doug’s columns appear in Mortgage Originator, Mortgage Planner, The Mortgage Record and Mortgage Broker magazines. He publishes a monthly newsletter, Power Selling, and authored Climbing the Ladder of Success. For more information, visit http://www.dougsmithonline.com/

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Increase Your "Real Value" to Referral Clients

What value do you bring to your clients? Aside from helping them with a service, how else to they see you? Do they feel they have a relationship with you, or are you just a salesperson, or service provider?

When you consider the fast number of competitor you are up against every day, it becomes increasingly more important to differentiate yourself from your trade. Your key referral clients must see you as something more, something they won't give up for a slightly better offer, a trendy new look or a slightly sweeter doughnut from one of your competitors. The depth of your relationship keeps this from happening. So how do you go to such depths?

Picture the Eiffel Tower in Paris. This landmark has stood for over 100 years. It's erected on a base of four strong legs, each one supporting the structure, giving it a solid footing. Your referral client relationship can also stand on four (or more) strong legs. Here's what I mean:

  1. The Value of Service.
    What distinguishes your service from other lenders? What are you willing to do that most others won't do? Craft a list of three specific services you provide which the client can't get elsewhere. Maybe you provide an online status check or perhaps a weekly market update. You might be available on weekends or you personally attend all closings. Build your list of unique services. If you can't think of three things, you are not really offering value in your service.
  2. The Value of Information
    Become a key information source to your clients. Clip articles and fax them. Be the first with news on guideline changes and new options. Share interesting "local knowledge" you uncover in your conversations within your industry. The client should look to you for the latest and greatest information he or she can use.
  3. The Value of Partnership
    Your referral clients send you business and put money in your pocket. Look for ways to do the same for them. Offer leads, referrals, endorsements and other ways to help his or her business prosper. Help your clients recruit good, talented people for their teams. Be on the lookout to give back to those clients that made your business successful. Now we're talking real value!
  4. The Value of Friendship
    Many sales professionals not only refer to their clients as clients, but also friends. Get to know "who" your clients really are. Learn about their interests. Remember their anniversaries. Ask about their family. Let's face it, people trust and work with people they know and like. A big part of sales and growing your business is getting your clients to know and like you. The best way to accomplish this is to get to know and like them.

As you build value, you build relationships, and relationships are what make your business work.

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