Building Referral Networks

[GXR2]

It's been awhile since this topic was discussed in detail. I think it is vitally important more so than cold calling. An area I need to learn. I'm sure there are some new ideas out there by now.. So I'll get the ball rolling by asking...

What are some of your ideas/methods for generating/acquiring/cultivating, and maintaining a referral network?

What hasn't worked for you when seeking referrals and networking?

What percentage of your new business is from your referral network?

 

[Heather]

Speed Networking, just like speed dating. I have made some connections and gotten a few referrals from that, you just need to show up every month and get to know the regulars and group organizers.

Women's business owner groups, I found them to expensive and a waste of time. First off half the women are yoga going mini van driving house wives that peddle potions and lotions and don't have an actual business.

 

[insurance1822]

Out of college I'd ask coi's to meet me for happy hour then just get drunk w/ them & bs. Do that a few times...golf....curse...chase girls (when you're single.). Ended up forming friendships with lots of coi's that way. Wouldn't work now that I'm married & somewhat overweight with kids.

Worked like a charm out of college when everybody was young & starting out.

Man...how'd I end up in this business.

And don't talk about business much. Nobody really cares. Relationships matter more then what you actually provide (in my experience.) Sounds bad but it's the truth. That being said I was always good at getting policies written.

 

[gambrinus]

Speed Networking, just like speed dating. I have made some connections and gotten a few referrals from that, you just need to show up every month and get to know the regulars and group organizers.

Women's business owner groups, I found them to expensive and a waste of time. First off half the women are yoga going mini van driving house wives that peddle potions and lotions and don't have an actual business.

This made my day.

half the women are yoga going mini van driving house wives that peddle potions and lotions and don't have an actual business.

This is the case at most "networking" events.

 

[JimmyUt]

This made my day.

half the women are yoga going mini van driving house wives that peddle potions and lotions and don't have an actual business.

This is the case at most "networking" events.

I have found the same thing to be true

 

[agentinsouth]

It's been awhile since this topic was discussed in detail. I think it is vitally important more so than cold calling. An area I need to learn. I'm sure there are some new ideas out there by now.. So I'll get the ball rolling by asking... What are some of your ideas/methods for generating/acquiring/cultivating, and maintaining a referral network? What hasn't worked for you when seeking referrals and networking? What percentage of your new business is from your referral network?

Are you looking for commercial or personal lines?

 

[GXR2]

Personal lines ...

I have all the warm leads to call that I will ever want or need and I've mastered that.

I want to generate my own lead/revenue system.

There are mortgage brokers, Realtors, home builders.. etc, What are some of the tips, techniques, activities, of securing those relationships/referrals.

How do you get clients to refer you to their family and friends?

How do you generate new quotes? gift cards? Etc...

Like to hear what's working for everyone.

 

[agentinsouth]

Personal lines ... I have all the warm leads to call that I will ever want or need and I've mastered that. I want to generate my own lead/revenue system. There are mortgage brokers, Realtors, home builders.. etc, What are some of the tips, techniques, activities, of securing those relationships/referrals. How do you get clients to refer you to their family and friends? How do you generate new quotes? gift cards? Etc... Like to hear what's working for everyone.

Gift cards to mortgage brokers and realtors are a good way to get your rear busted by RESPA! Search the form, a few of us are very good at getting mortgage brokers and REALTORs to refer & have posted in several places. Cgreen and I both do about 25-30+ home quotes a week during the busy season. That does not include cross sells.

 

[FL P&C Broker]

RESPA is regulated by HUD correct? Since when did they have any authority over insurance agents. It might be against RESPA for realtors/loan officers to accept the gift card but it shouldn't be illegal for you to give them as long as it isn't dependent on the sale.

 

[agentinsouth]

RESPA is regulated by HUD correct? Since when did they have any authority over insurance agents. It might be against RESPA for realtors/loan officers to accept the gift card but it shouldn't be illegal for you to give them as long as it isn't dependent on the sale.

It is - they can. I've read the reg's, talked with a staff member, and know 2 cases where they crucified two insurance agents. There is currently a third agent under investigation in my state. It is plain as day that you cannot compensate anyone involved in the "home settlement process. ". Then it list who those people are and guess what? Couldn't be any more clear.