Develop Referral Relations with CPAs
By Tim Braheem
President, First Rate Financial Group, Westlake Village, CA
Founder and CEO, LoanToolBox.com
In today's market, it's important to consider a new strategy to develop referral relationships with CPAs. A third party introduction is the better type of approach to take when you seek to establish referral relationships with this type of professional. They are generally analytic people who need to see living proof that validates a reason to start up a new relationship. However, they too have a referral based business model. When you win their hearts, you can establish low-maintenance, long-term relationships that benefit all parties involved.
Start by contacting your existing clients to remind them that tax time is right around the corner. Remind the borrower that their accountant is an extension of their overall financial plan, and should be acting in accordance with their long-term financial goals. This includes running sophisticated analyses and making sure that the borrower is preparing for long-term retirement needs. They should be in touch with their CPA on a consistent basis, not just at tax time when the CPA has their busiest season!
That having been said, ask the borrower to evaluate their existing CPA or tax planner on a scale of 1 to 10, 10 being best. If they tell you that they have a fantastic person doing their taxes, who is by all means a perfect 10, say, "Great, I'd love to meet him and see if I can refer more business to him."
Follow up by sending a letter or email to the CPA, to inform him or her that your mutual client recommended you should meet each other. If you're a Mortgage Coach user, add in a Debt Free Analysis spread sheet on your mutual client, so the CPA recognizes you as a trusted advisor. From there, make an appointment to learn more about how this highly recommended CPA does business, and learn how they want you to represent them when you refer your customers to them.
If your borrower has informed you that they do not think their existing tax planner or CPA is doing a good job, you should immediately be ready to refer them to someone you know that is reliable and is known to save money for your other clients. Be ready to make the call yourself, or have an assistant call for you, so your CPA referral partner knows you are sending them a new client, and provide them with the name and phone number, and any relevant information they need to know.
LoanToolBox.com contains campaigns, complete with downloads, letters of introduction and marketing collateral, to enhance your efforts to develop relationships with CPAs and Business Managers, Realtors, CFPs and Stock Brokers, HR Directors, and Insurance Agents. To learn more about LoanToolBox, visit our web site at http://www.loantoolbox.com and watch our demo movie. You can schedule a complete demo by calling our sales department at 818-735-5970 or send an email to sales@loantoolbox.com.
Tim Braheem is the President of First Rate Financial Group in Westlake Village, and also the CEO and Founder of LoanToolBox.com. Tim provides seminars nationally and abroad to teach mortgage professionals how to hone their skills and create a better business model. Contact Lynn Greaves at lmg@loantoolbox.com or call 818-388-4205 for information about booking Tim Braheem for your next event.