As a mortgage professional, I believe that my clients can benefit when I introduce them to like minded professionals for the legal and financial matters that are not mortgage related.

Recently, a firm surveyed over 100,000 Legal, Financial, Taxation and Financial Planning firms across the country and one question they asked was: “in conversation with your clients does the topic of mortgage lending or refinancing ever come up” or “can refinancing be used as a tool for any of your clients needs?” Two out of three responded, “YES.”

They then followed up with a second question: “Do you have a strong referral relationship with an existing lender or do you let the client select his or her own professional?” NINE out of TEN responded, “I pretty much let the customer select their own lender.”

Surely, you can see that by not introducing the client to an associate for their other professional needs, the client has the opportunity to develop a relationship with a non competing professional that may have a strong referral relationship with your competitor.

By not providing the referral solutions for your clients, you could be left behind or have your services challenged by a competitor. Having a trusted mortgage professional to refer your clients to, and guard your relationship adds to the value of your services provided.

Tools used to help your client with the mortgage decision. I use a tool called the Total Cost Analysis to ensure that clients are taking the right mortgage at the right size at the time of purchase or refinance. Often, the “move up” buyer will “knee jerk” all of the proceeds from the property being sold into the new home. This report can confirm if this is the most prudent move or determine if it makes more sense to put less cash own on the property and invest.

For your clients that already are homeowners, I can review an existing mortgage which we often find was not properly planned. We prepare an Equity Repositioning Report that can show they can use their existing equity to eliminate non preferred debt and possibly create invest-able dollars within the current monthly budget in either a lump sum or by liberating their income from the burden of monthly payments on credit cards or cards. I run the numbers for the clients on your idea and serve as a third party endorsement when they otherwise may not have taken this action.

If you would like to team up with a mortgage professional, please contact me to set up a demonstration.