Follow-up script for a referral partner who has stopped sending business

When To Use This

This script is designed for situations where a previously active referral partner has stopped sending you new client leads for several weeks or months. It is ideal for rebuilding bridges and understanding shifts in their business or priorities, but it should not be used for new prospects or partners who have explicitly stated they are no longer working with you.

The Opener

"Hi [Name], Edi Shek here. Hope you're doing well. It's been a little while since we last connected, and I was thinking about some of the unique market trends we're seeing in [Market] right now. I thought you might appreciate a quick update, given your work with clients in the area. Do you have about five minutes to chat?"

The Qualifying Questions

1. "What have been some of the biggest successes or challenges you've encountered with your clients in [Market] over the past few months?" This helps understand their current market perception and potential pain points.

2. "Are your clients running into any specific hurdles when it comes to financing options, perhaps things that are making their home search or sale more complex?" This probes for specific lending-related issues they might be experiencing with other lenders or general market conditions.

3. "Thinking about past transactions, what aspects of our partnership did you find most beneficial, or what could we have improved upon from your perspective?" This opens the door for direct feedback on past performance and helps identify what they value.

4. "Have there been any shifts in your business model or client base that have changed how you approach lender relationships?" This explores changes on their end that might explain the drop in referrals.

5. "On a broader note, what's most important to you when choosing a lending partner to refer your clients to in today's market?" This uncovers their current priorities and criteria for referrals.

Handling The Three Objections

Objection: "We've started working with another lender who offers X."

"I completely understand, [Name]. It's always smart to have a team that aligns perfectly with your current needs. My priority has always been to ensure your clients receive clear communication, tailored options, and a smooth process. Sometimes, the right fit changes. If anything shifts, or if you ever encounter a client with a unique situation where my specialized lending solutions might be a perfect fit, I'd welcome the chance to discuss it. We pride ourselves on creative problem-solving and proactive communication." Why it works: Validates their choice, positions you as a specialized resource for unique cases, and leaves the door open without being pushy.

Objection: "The market's been slow, my clients just aren't buying/selling right now."

"I hear that, [Name]. The market certainly has its cycles, and it can be frustrating. What I've found, though, is that even in slower periods, there are often specific opportunities we can explore. For example, some of your past clients might benefit from a refinance to optimize their current mortgage, or perhaps we can educate potential buyers on current down payment assistance programs that make homeownership more accessible. Would it be helpful if I shared some data on local refinance trends or specific programs that are still active and supporting buyers?" Why it works: Acknowledges their concern, shifts focus to solutions, and offers value even when purchase volume is down.

Objection: "I've just been so busy with X, Y, Z, it's not personal."

"No worries at all, [Name], I completely get it. Everyone's juggling a lot, especially in our industry. My goal is always to make the process as seamless as possible for you and your clients. If there's anything I can do to simplify the referral process or provide quick resources that save you time, please let me know. Perhaps we could schedule a brief 15-minute chat next week, just to catch up and see how I can support your business without adding to your workload?" Why it works: Validates their busyness, offers to ease their burden, and suggests a low-commitment follow-up.

The Close

"Based on our conversation, I'd love to schedule a quick, no-pressure coffee chat or a brief Zoom meeting sometime next week. We could discuss how I can best support your clients in the current market and share some updated resources that might be valuable for you. How does [Day] at [Time] look for you?"

Fallback if not yet: "No problem at all, [Name]. I completely respect your time. How about I send over a quick email with the latest market insights and some details on how we differentiate ourselves? That way, you have my contact information handy, and if anything comes up where you feel I could be a good resource, please don't hesitate to reach out."

Delivery Notes

• Pacing: Speak clearly and at a moderate pace, allowing for pauses where appropriate to encourage the referral partner to contribute to the conversation.
• Tone: Maintain a positive, professional, and empathetic tone throughout the call. Your goal is to reconnect and understand, not to pressure or blame.
• Listen Actively: Pay close attention to their responses, especially the nuances. Your follow-up questions should demonstrate that you've heard and understood their concerns.
• Focus on Value: Frame your conversation around how you can add value to their business and their clients, rather than solely asking for referrals.
• Be Prepared: Have current market data, program highlights, and your unique selling propositions readily available in case the conversation naturally shifts in those directions.
• Non-Verbal (if video): Maintain eye contact, nod to show understanding, and have open body language.

Compliance Reminders

• No Rate Promises: Never promise specific interest rates, loan approvals, or closing dates, as these are subject to change and individual qualification.
• Equal Housing Opportunity: All interactions and offers must strictly adhere to Equal Housing Opportunity principles, ensuring fair and equal treatment for all individuals.
• TILA Compliance: Be mindful of all Truth in Lending Act (TILA) advertising regulations; avoid making misleading statements or guaranteeing terms that are not firm.