Chapter 3 - Referrals and Networking

Your Network Is Your Net Worth

01. Networking: Where Connections Turn into Opportunities

Joining a structured networking group is an investment in your future success. Memberships often cost $500–$1,200 annually, with weekly or fortnightly meetings. These environments help generate consistent referrals.

Recommended groups:

• Business Networking International (BNI)

• Business Over Breakfast

• Venus (women-only)

• Toastmasters

• Rotary International

• The Chamber of Commerce

• TNG

No group membership yet?

• Attend local MeetUps (use the app).

• Organise your own MeetUp around industry or shared-interest topics.

• Get in touch with BNI, TNG, Venus chapters about openings.

• Join your local Chamber of Commerce.

• Try Clubhouse for audio networking.

• Don’t overlook community settings: school groups, sports clubs, churches.

Before and after presentations:
Arrive early, sit front, stay late, introduce yourself to as many people as possible—especially the presenter. They’re often prolific connectors.

Current habit: Set a weekly reminder to book two networking coffees. Weds/Thurs work best for scheduling.

02. Centres of Influence (COIs): Your Power Network

A Centre of Influence is someone who refers clients to you. Professionals—accountants, real estate agents, insurers—are powerful sources. Aim to build at least five COIs in the first six months for meaningful momentum.

Top COI strategies:

• Connect on LinkedIn.

• Engage with and share their content on Facebook.

• Ask what kind of referrals they prefer—reciprocal, tiered, or service-based.

• Ask them to introduce you to others in their network.

• Regularly touch base with a “thought you’d interest” link or update.

• Use the COI Tracker Template and schedule weekly reviews via Trail reminder.

03. Mastermind Groups: Knowledge + Referrals

A small, reciprocal group (4–5 people) of complementary professionals—real estate agents, accountants, insurers—can hugely enhance your network. Meet fortnightly, often over breakfast. No formal agenda required.

Prep tip: bring timely discussion points—recent rate changes, policy updates, or a recent successful deal.

04. Generating Referrals

Referrals are the most valuable business source—low cost and high conversion.

Referral best practices:

• Enter every referral into Trail as a contact, even if not ready now—they receive your newsletters.

• Introduce the referral concept early and consistently.

• Position yourself as the expert: a satisfied client is more likely to refer others.

• When clients express gratitude (“Thanks, you’ve been great”), use a simple referral script:
  “I’m glad I could help—if you know anyone else who might benefit, I’d love an introduction.”

Upon receiving a referral:

• Thank the referrer promptly, personally—avoid templates.

• Contact the new client within 24 hours, referencing the referrer.

• Deliver an exceptional experience throughout their application and after.

05. Partnering with Real Estate Agents

Agents seek finance solutions for buyers. Building trust can secure you high-quality referrals.

Understand their approach:
Agents may feel obliged to offer three broker options. Don’t argue—just aim to be the top-listed option. Let time and quality service enhance their trust.

On referral payments:
Some agents appreciate a referral fee—best as a percentage of your commission. Always ensure clear disclosure.

Developing relationships:

• Attend open homes regularly, introduce yourself.

• Let clients tour with you to reinforce your value to agents.

• Keep interactions brief but professional—use your Mortgage Lab brand presence.

Protect client confidentiality:
Don’t disclose clients’ borrowing capacity. If they’re unsuitable, politely suggest the agent focus on other buyers.

06. Partnering with Accountants

Accountants can be your most lucrative referrers—they value financially sound advice.

Why accountants refer clients:
They look for strategies that make long-term financial sense, and well-structured mortgages reflect positively on them.

How to build trust:

• Involve accountants early when investment properties or ownership structures are involved.

• Share your Mortgage Recommendation page and involve them in strategy discussions.

• Send relevant resources: e.g., your guides on investment property, mortgage structure, rate outlooks.

Relationship building:

• Connect on LinkedIn

• Use networking groups to meet accountants

• Offer your expertise when working with mutual clients—with permission.

07. Imposter Syndrome: You're Qualified

First months feel daunting—but you’re trained and know more than most clients.

Helpful reminders:

• You’re more knowledgeable than you think.

• It’s OK to say, “Let me double-check and confirm.”

• Read bank broker guides to stay grounded in your expertise.

• Never improvise—acknowledge what you don’t know and follow through.

08. Asking for LinkedIn Recommendations

Client or professional testimonials on LinkedIn are powerful validation. Approach clients—and COIs—after successful outcomes with a personalised request. Show appreciation and provide clear, simple instructions for them to submit it.

By actively networking, nurturing COIs, and building referral systems, you create sustainable pipelines for quality opportunities. Keep relationships authentic, maintain professionalism, and strategically grow your influence.