Many finance specialists who are looking to forge long term beneficial relationships forget the key ingredient to referral success - you have to earn the right.

Most likely, new referral partners are going to send you their most difficult clients in order to test you out and see how good you really are.

You must over-service the clients during this test and try absolutely everything to get the deal across the line.

Another key component is keeping the referral partner abreast of all discussions and kept in the loop. Nothing is worse than sending a referral into a 'black hole'.

An example of a recent test was via a REMAX office in Queensland where an Australian Property Finance broker 'saved' a real estate deal from falling over. Trust was immediately established: the broker then 'earned the right'.

Once you have earned the right, the broker can then collaborate with the real estate agent to work on what the 'ideal referral' looks like.

Furthermore, a referral partner should be looked upon as a partner. Make sure you keep them informed on your successes. Consider developing a personalised monthly referral newsletter for ongoing communication.

(Nathan Swain) Nathan Swain, CEO Australian Property Finance

Nathan Swain is CEO of Australian Property Finance (APF), which is outcome of the RE/MAX Australia and Vow Financial joint venture launched in August 2013 to write a full range of financial services for home buyers and property owners including new and refinanced commercial, residential and personal loans, insurance, wealth creation, legals and leasing. He has two decades' worth of finance experience, including recognition in the top 1% property finance performers with a major real estate group.

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