How to develop mortgage business from accountants

Posted on: 15 Feb 2016


We have had many years of experience in developing relationships with accountants and in this time we have learnt some key factors in harnessing business relationships that quickly fills your sales pipeline.

Like brokers, accountants are extremely client centric; they are not going to refer you their precious client unless they have developed some kind of relationship with you.

1. Networking, Networking, Networking. Shake hands – a lot of hands. You need to find a network aggregate of accountants to get the best value for your time. There are loads of networking groups and some simple investigation will reveal those close to you. Drop in and speak to all local accountants, prove them reasons why you’re better than the other broker they’re using. Create a 30 second pitch of what you do, think about the pitch carefully, it should include:

a. What you do
b. What finance problems their clients would potentially encounter
c. How your service will solve those problems

Follow up meetings with a phone call or email and LinkedIn or other Social Media contact.

2. Don’t waste your resources on accountants that don’t care. There are accountants providing holistic services to their clients and those who are interested in just doing their jobs and nothing else. If your time and resources are scarce then priorities your efforts towards accountants who’ll refer business or assist you in building your network.

3. Stay top of mind. You’ve met and pitched your sales proposition to a potential referral source, this is the easy part. Your next step is developing a long lasting relationship. You need to maintain regular (but not too regular) contact with them, stay top of mind with face to face contact, email and phone calls.

4. Provide an invaluable service. Clients come and go, however specialists who are at the top of their game, are a valued tool for accountants. You must always provide your absolute best service for their client, prove yourself indispensable and the accountant will always refer business to you.

5. Be likeable. It’s a well-known sales principle that customers will buy from salespeople they like. There are hundreds of sales books written on the subject. The key factor is, don’t try to be someone you’re not, flattery and fakery can be transparent and comes across as insecurity – a big turn off. The best way to be likeable is be yourself, focus on the needs of the person in front of you and watch your P’s and Q’s.

6. Send them business. The best kind of referral relationship is mutually beneficial. As a mortgage broker you’re in the unique position to know if a client may need an accountant, use this opportunity to refer them on to one of your referring sources –both client and accountant won’t forget it.

There it is. Building a referral network is like building a trail book in that it takes time and requires maintenance and care, yet it will always pay dividends for you.