BLOG POST #27 THE CORE7 REFERRAL SYSTEM

 THE CORE7 REFERRAL METHODOLOGY

The Core7 Referral Methodology is a unique methodology on how the 7 professionals can generate referrals that benefit the client. This methodology is based around the Primary Referral Targets. Each of these primary referral targets can lead to what we call the Referral Generator. The Referral Generator is:

“How is your relationship with your __________ who specializes is ________________________?”

It is so important to be familiar with these referral targets. They are the foundation for the tracking, accountability, and success of the system. Let's go through the Primary Referral Targets for each professional.

The Real Estate Agent:  The Real Estate Agent's Primary Referral Targets flow easily and naturally along with the transaction process, and is executed with a couple simple scripts or copy and paste emails.

I feel the scripting and the wording of these emails are the big difference maker and can increase the system’s success by a huge margin.

The 2 Primary Referral Targets for the Realtor are the Mortgage Originator and the Real Estate Attorney or Escrow Officer.

Let's begin with the Mortgage Originator. The first referral opportunity is at the buyer meeting when the realtor is going through the buyer presentation. This Buyer Presentation in the Resource Center of The Core7 Referral System. www.mycore7.com 

Details of the scripting can be reviewed in the Real Estate Agent modules of The Core7 Referral System www.mycore7.com . Exact details of the Buyer Meeting should are included. This will make the segue to these introductions seamless.
Let’s review The Core7 Referral Email that is sent to the buyer with the Mortgage Originator and possibly the Mortgage Originator’s team. Let me read the email and you will see how easy this hand off is.

 Hi (Client's name),

I'm looking forward to meeting with you on (appointment date/time). {Team member's name or"/") will be in touch to schedule a time for us to see some properties in the {$XXX- $XXX) range.

As discussed, getting pre-approved is one of the first steps. I recommend (Mortgage Originator partner's name). He is a Lender who is my trusted advisor and can be of help. {Team member's name or "He/She/") will be in touch soon to schedule a time to speak. (He/She) wants the process to be free of errors, so be aware that (he/she) collects all of the necessary documents up front. (These documents are required by FNMA guidelines). This may seem like a lot to do upfront, but is critical to find the best structure, make things go much more smoothly when we enter the transaction, and give us a huge advantage when negotiating on a new property.

Now after there is an accepted offer, the Real Estate Agent reintroduces the client back to the Mortgage Originator to start the process, and includes the Closing Attorney or Escrow Officer on the introduction.

This email is incredibly valuable to the team as it not only makes the introduction, but also informs the client of any potential buyers remorse, informs the client of the next steps like providing a credit card deposit for the appraisal, it gives a heads up regarding the Do's and Don'ts When Obtaining a mortgage, and the key steps in the process.  I recommend that these emails be broken down into 2 separate emails, but it can also be sent as one. (Copies of these letters are in the Resource Center of The Core7 Referral System www.mycore7.com ), and the modules and time stamp are referenced to listen to the details of this hand off and how to handle any questions or objections regarding these key touch points. This hand off is a critical starting point for a client to go through the Core7 process and assemble their whole financial team.

I hope you are finding value and following the system. Now let's review the Real Estate Attorney or Escrow Officer and their primary referral responsibilities.

The Primary Referral Targets for the Real Estate Attorney or Escrow Officer are the Financial Advisor and the Property and Casualty Insurance Agent.

Let's start with the Property and Casualty Insurance Agent. When reviewing the purchase and sale is a great time to make this introduction. Now there's a very good chance that the Real Estate Agent or Mortgage Originator has already introduced the Property and Casualty Insurance Agent to the client, so the advice here is not to push. Here is a quick version of how we recommend asking the client or how to word this key email like this:

"Mr. Smith, has your Realtor or lender introduced you to a great property and casualty insurance agent yet to get a jump on your homeowners insurance?" It is very important to do this as soon as possible. Would you mind if I made the introduction?

The second primary target is the Financial Advisor. This is what I feel is the greatest opportunity for a Closing Attorney or Escrow Officer to differentiate themselves.

Just like the Mortgage Originator it is with the closing cross-sell, we encourage that an introduction to the Financial Advisor to be suggested after the closing. Very simply the Closing Attorney or Escrow Officer should send an email or make a call to the client suggesting that they review any possible changes to their estate and financial plan.  The wording to use in this call or email is simply this way this:

 Hi {Client's name),

Congratulations on the closing of your home. It is probably your largest investment to date. Your Lender or Realtor may have mentioned this to you already, but the purchase of a home can trigger many other financial ramifications. I would like to make the introduction to the Advisor on my team, he will be a valuable resource for you on this.

Would that be okay? I feel it would be time well spent.

As we mentioned earlier, it always makes sense to review the modules in The Core7 Referral System www.mycore7.com  where we go into greater detail on these particular primary referral targets. Check them out!