Creating better alignment with real estate referral sources, such as mortgage brokers and mortgage lenders, is a crucial skill for any real estate sales professional in generating real estate leads.

In a potentially turbulent Canadian housing market, keeping your referral relationships strong can only help with generating real estate leads. Especially if you’re selling in a harder-to-afford neighbourhood, lead generation could be key to making a sale, even more so than before.

But how can you create better alignment with your referral sources, in particular mortgage brokers? Here are our top three tips:

  1. Know what tools your mortgage brokers are using.

If you are using GeoWarehouse, you want to encourage your mortgage brokers to use Purview, which is a similar tool that derives the same data — data supplied by Teranet and powered by POLARIS, the Province of Ontario Land Registration Information System. This ensures you’re looking at the same figures and information, which can cut down on significant back-and-forth time and speed up closings.

  1. Share information.

If you have generated a GeoWarehouse, property report, share it with your mortgage brokers. The information found within could help them, which in turn could help you. They’ll be able to see where you are getting your numbers and be on the same page as you.

  1. Emphasize teamwork.

Make sure your mortgage brokers know you are a resource to them and, when working on a deal, part of their team. Mortgage brokers can take care of financing issues and mortgage logistics, while you focus on the sale of the home. You could even take your teamwork to the next level by partnering on social media property marketing, having your mortgage brokers attend open houses, and other marketing initiatives.

Creating better alignment with your referral sources, such as mortgage brokers, can make a big difference in your business relationship. Working from the same data and tools can make closings that much simpler and more efficient — saving you both time, money, and headaches. It can be a win-win: you’re generating real estate leads and your brokers are gaining mortgage leads.

Teranet provides the data for both GeoWarehouse and Purview for Mortgage Brokers and for Lenders. This means that real estate sales professionals who use GeoWarehouse can improve alignment with mortgage brokers (and subsequently their mortgage lenders) by working with the same data — data that is the most current and accurate. This in turn can lead to not only more closings, but also faster closings.

GeoWarehouse has the most accurate and complete data for real estate sales professionals, while Purview for Mortgage Brokers has tools specific for your mortgage brokers. To learn more about GeoWarehouse, visit www.geowarehouse.ca. For more on Purview, visit www.purviewforbrokers.ca.

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