Building a Network of Qualified Business Partners

April 21, 2022
8:00 am

Building a network of qualified professionals is a certain business booster. You serve your clients and yourself by surrounding yourself with great mortgage lenders, homeowner insurance agents, title companies, inspectors, and home repair contractors. Let’s build a team to turbocharge your business.

Mortgage lenders

The mortgage process is daunting to home buyers, especially the Millennial and Generation Y age groups just entering the market. 

Provide a great service to your clients in two ways. First, develop a trust relationship with a top mortgage lender, using the criteria outlined below. Learn how to prep your clients for the application and approval process. By briefing your clients on what to expect, their comfort level will rise. You make things easier for both the lender and your clients. Everyone benefits.

Title company

The title company is another puzzler to first-time buyers. They may not know what the title company does. Clients know to shop mortgage lenders, but how many shop title companies? Help your client before they even know they need it. 

Homeowners insurance

There’s a good chance that experienced homeowners have an insurance agent already. But first-time buyers probably don’t know where to start. Add to your network a great property and casualty insurance pro.

Inspectors and repair contractors

Knowing a good home inspector and having a network of home service contractors such as HVAC, electrical, plumbing and roofing professionals saves your client from having to track them down for repairs. 

Qualities to look for

As you assess people in these industries, casually interview them about their background, experience, successes and challenges. Curate a profile of each one around these qualities:

  • Experience. How long have they been a mortgage banker, an insurance agent, an inspector? What did they do before that? Have they managed a variety of client situations? Someone new to the business isn’t ruled out if they work for a firm that provides solid backup and training. 
  • Competence. Ask about challenges they have faced and how they solved problems. Do they know their processes thoroughly? Have they identified pain points in those processes and solved them. Look up online reviews and see what customers say.
  • Integrity. Do they dot the i’s and cross the t’s of industry protocols and regulations? If they cut corners, it puts all parties at risk of a messy transaction. 
  • Communication. Nothing is more frustrating than slow communication, especially in a fast-paced market. Keeping clients and colleagues guessing is bad service. They should keep all parties informed on steps toward closing, promptly answer client questions, give progress updates, and manage expectations along the way.
Marketing partnership

Stay regularly in touch with your professional network. Create co-branded marketing pieces together. Schedule open houses and include your professionals for exposure to potential buyers. Host social events to network and gather market intelligence.

Your business will grow in direct relation to your diligence at networking.