This is the story and playbook of how Dave Savage closed 252 loans in one year and he #1 referral source was CPA's and Financial Planners

2. 2
Section One: TheM illion Dollar“Trusted Advisor’sEdge”M indset
Section Tw o: H ow to Find M oreQualityReferralSourcesThan You Can H andle
Section Three: H ow to Contactand SetAppointm entsW ith Advisors
Section Four: H ow to CreateInstantCredibilityW hen M eetingW ith aCPA orFinancialPlanner
Section Five: Buildingand M aintainingYourCPA and FinancialPlannerDatabase
Section Six: H ow to CaptureAuthoritativeEndorsem entsThatAllow You to LeverageaSingleReferralInto Dozens
Section Seven: TheArtofReferrals—TheNew W ayofDoingBusiness
THE ART OF REFERRALS
CONTENTS
02/2007
3
5
8
14
18
21
25

3. 3
THE ART OF REFERRALS
Se c t i o n On e : Th e M i l l i o n D o l l a r “ Tr u s t e d A d v i s o r ’ s Ed g e ” M i n d s e t
DearM ortgageProfessional,
Iam notgoingto startthisreportw ith them echanicsofhow to develop alternativesourcesof
referralsfrom CPAsand financialplanners.That’sactuallytheeasypart, becauseI’vecreated a
proven system .Thehard partisthis…
Mindset.
H ere’sw hatIm ean.Unlessyou havetheproperm indset, you’renevergoingto beableto use
w hatI’m teachingyou… no m atterhow easyI’vem adeitforyou.So, w hatisthism indsetI’m
talkingabout?
Them indsetisw hatIcallthe“Trusted Advisor’sEdge”.
W hatisthe“Trusted Advisor’sEdge”?
W hatm ostprofessionalsdon’tunderstand isthatthem ostprofessional, credibleim ageyou
can havedoesn’tcom efrom yourclothes, yourcar, oryouroffice.Them ostbulletproofim age
you can havespringsup from w ithin you.Itcom esfrom havingaprofessional, “I’m hereto do
businessand you need theserviceIdeliver”attitude.You haveto believethatyour“advice”can
actuallym akealife-changingdifference.
You haveto shiftyourperspectivearound 180 degreesfrom thetypicalloan officer.W hen you
havetheTrusted Advisor’sEdge, you decideifyou w antto do businessw ith aCPA orfinancial
planner, ornot.It’s your decision, not theirs. You decideiftheym eetyourqualifications.
You can enhancetheirserviceofferingand keep theirclientshappy, becauseyou’reatrusted
and valued resourceto them .
Butfirstyou’vegotto respectyourselfand thelevelofexpertiseyou bringto thegam e.Stand
tall, look confident, and SH OW them how youradvicem akesalife-changingdifferenceto their
clients.
Do you need to bew ellgroom ed and m annered?Ofcourse!But, ifyou don’thavethatTrusted
Advisor’sEdgem indset, yourlack ofconfidenceand credibilityw illquicklyeataw ayattheillu-
sion of“im age”you aretryingto create.
W ith thisTrusted Advisor’sEdgem indsetthatI’m goingto giveyou thetoolsto
02/2007

4. 4
THE ART OF REFERRALS
Se c t i o n On e : Th e M i l l i o n D o l l a r “ Tr u s t e d A d v i s o r ’ s Ed g e ” M i n d s e t ( c o n t . )
create, you aregoingto build ahugestream ofreferrals.
W hen you finallyrealizethattheseCPAsand financialplanners, or“advisors”asIcallthem ,
need you becausetheknow ledge, advice, and insightyou possessw illhelp them im provethe
financiallivesoftheirclientand theirinfluenceovertheirclientsyou w illthen beholdingthe
cards.You arenow theplayertheyw antto associatewith.That’sw hyIhavedeveloped the
tools, techniques, and strategiesyou aregoingto learn to use.
Each and everystrategyIshow you putsyou in aposition ofbringingvalueto thetable—
notbeggingforthecrum bsthatarefallingfrom it.You don’tw antto belikealittlepuppy, pant-
ingand w aggingitstail, hopingyou aregoingto getareferralthrow n to you.W hen you learn to
usethesetoolsand strategiesw ith skilland confidence, you aregoingto stand head and shoul-
dersabovetypicalloan officersand lendersw ho m aybecom petingforthosereferralsbecause
oftheincredibleadviceand valueyou bringto a CPA and financialplanner.
And justasim portantlyforthoseofyou w ho w ork w ith realtors… you aregoingto develop a
rem arkablystrongpostuream ongtherealestateagentsyou’rew orkingw ith.W hen you bring
thistypeofw orld classadviceto thetable, theyw illuseyou asarespected sourceofadvicethat
m akesalife-changingdifferencefortheirclients.The day you realize the pow er ofdoingbusi-
ness based on the Trusted Advisor’s Edge is the day you w illgain an incredible sense ofcon-
trolover your grow th and the consistency ofyour business.
Letm equicklycoverafew m oreofthebenefitsyou’llexperiencew hen you learn to applythe
Trusted Advisor’sEdgem indsetto yourbusiness.
First, thepeaksand valleysin yourincom ew illstabilizebecauseyou arebroadeningoutyour
referralbase.Im agineapierstretchingoverthew ater.Each new referralsourceyou add islike
addinga pillarto itsfoundation.Them orepillars, them orestablethepier.And so itisw ith
yourbusiness.
Second, you w illalso enjoythelevelofbusinessprofessionalism thatcom esw hen you begin to
do alotofbusinessw ith CPAsand financialplanners.You w illfind theirdow n-to-businessatti-
tudesand behaviorsrefreshing.
02/2007

5. 5
THE ART OF REFERRALS
Se c t i o n Tw o : H o w t o F i n d M o r e Q u a l i t y R e f e r r a l So u r c e s Th a n Y o u Ca n H a n d l e
So w hat’sthefirststep?
W ell, beforeyou can putanyofm ystrategiesto w ork, you m ustfirstbeableto find
potentialCPAsand financialplanners.
Ihavedeveloped tw o w aysto getreferrals.Let’slook firstattheeasiestw ayto get
started.
Theeasiestw ayto generatem oreadvisorreferralsthan you can handleisfrom your
currentcustom ers.Here’show you do it.
Ihavefound thatoneofthem ostprofessionalw aysto gatherqualityreferralsisduring
theinitialm eetingw ith oneofm ycustom ers.Asw earegoingovertheapplication, they
m aynothaveallthenecessaryfinancialinform ation ortaxreturns.W hen thatsituation
arises, Iusethefollow ingscript…
“Inoticethatyourfinancialinform ation ism issing(oryourtaxreturnsarem issing).Let
m ehelp you out.I’lljustgo ahead and giveyourCPA acallforyou, w ith yourperm ission.”
M ycustom erstypicallyrespond atthispoint, “Thatw ould begreat.Iw ould really
appreciatethat.”
Now Iam callingtheirCPA forabusinessreason.Duringthatbusiness, Iraisetheidea
ofchannelingotherreferralsm yw ay.I’lldiscusstheactualscriptsIusejustabitlater.
Now , w hatiftheyalreadyhavetheirreturnsand alltheirfinancialinform ation?
IfIam m eetingw ith acustom er, and InoticethataCPA hasprepared theirreturns, Ipay
attention to thenam eoftheCPA and w herehis/herofficeislocated.(Isitgeographically
desirable?) SinceI’vebeen buildingm ybusinessthisw ayalltheseyears, Ioften know
theCPA.In thatcase, Iusethisopportunityto build even m orerapportw ith theclient.
“Oh, you know so and so?H eorsheisaclientofm ine.”
W hen IseeaCPA thatisin m ytargetarea, Iw aitforapointin theconversation w here
thingsaregoingreallyw ell, and Isaythis…
“Bythew ay, Ireceivethem ajorityofm yreferralsfrom CPAsand financialplanners.W ould you
02/2007

6. 6
THE ART OF REFERRALS
Section Two: How to Find More Quality Referral Sources Than You Can Handle (cont.)
m ind ifIcalled yourCPA?”
“M ayIuseyournam e?”
Thisisaveryeasy(buthighlyeffective) w ayto establish contactw ith CPAsand
financialplanners.
Ialso haveaquestionnairethatIcallpage5ofthe1003.Thisisaseparateform thatIfill
outform yclients.Besureto ask forthenam esofeveryone:CPA, financialplanner,
insuranceagent, hum an resourcem anagersand anyattorneyrelationships.Seeacopy
ofthisform attheend ofthisreport.
H o w to G et G r ea t R ef er r a l S o u r c es F r o m th e N ew sp a p er a nd O th er Media
Thesecond m ajorw ayto generategreatCPA and financialplannersourcesisthrough the
m edia.W hatdo Im ean bym edia?Yourlocalnew spapers, businessrags, local
television show s, and thedirectm ailpiecesyou receiveathom efrom CPAs, attorneys,
and financialplanners.I’vecoined theterm “countersolicitation”to referto m y
approach w hen Icontactthem becausetheysolicited m efirst.
H erearesom ehotopportunitiesthatshould catch yourattention asyou scan yourlocal
paperand otherm ediasources:
• Look forpressreleasesbyoneofyourtargeted advisors.
• Look foran articlew ritten byone.
• Look attheadsin thepapers.(Yes, Iw illcontactthem from an ad theyhaverun.)
• Look foran articleon “finances”or“taxes”w herethereporterm entionsJoeSm ith, financial
planner, asasource.
W hydo Iem phasizew orkingw ith CPAsand financialplannersw ho aregettingm edia
attention?PUBLICITY!You need toknow w ho isactivelym arketingthem selves.
Typically, theprofessionalsw ho areaggressivelyprom otingthem selveshaveabetter
clientelebase, w hich m eansyou w illbereceivingm orereferrals.You are, in averyreal
sense, capitalizingon thefinancialassetstheyhaveinvested in.Theseadvisorsarealso
m orelikelyto stayin thebusinesslong-term .Theyarem uch m orestableand an
enduringsourceofreferrals.W hen you think aboutit, theyarepracticallyannuities.
02/2007

7. 7
THE ART OF REFERRALS
Iusuallygo through thenew spaperand localbusinessragseverym orning, and identify
thepeopleIw antasm yclients.Iliketo choosem yclients, becauseIpreferto do
businessw ith peoplew ho areaction-takersand im plem enters.
Think aboutthisforam om ent… bytappinginto thesesourcesthatarealreadyspendinga
substantialam ountofm oneyprom otingthem selvesand theirpractice, you areessentially
ableto tap into thousandsofdollarsofadvertisingon am onthlybasisw ithoutpayinga
dim e.You areleveragingoffrelationshipsw ith theircustom ersthathavetaken them
yearsto build.Considerhow longithastaken you to build thedatabaseofcustom ersthat
you currentlypossessand you can reallyseethevalue.
Bytappinginto thesesources, you aretappinginto yearsofw ork, good service, and
thousandsofdollarsofm arketingand advertisingexpenditures.In addition, you are not
payinga single penny to do it!Itisquiteliterallyahidden gold m ineofbusinessjust
sittingthere, w aitingforyou to takeadvantageof.
Theseprofessionalsarealso com m itted to theirbusinessesand arehereto stay.Onceyou
arelocked into thisreferralsystem , you w illhavelucrative, w arm , and friendlyreferrals
flow ingyourw ayforyearsto com e.
02/2007
Section Two: How to Find More Quality Referral Sources than You Can Handle (cont.)

8. 8
THE ART OF REFERRALS
Now thatyou havelocated potentialCPA and financialplannerreferralsourcesto w ork
w ith, you need to:
Num ber One:Getthrough to them and…
Num ber Tw o:M akeaGREAT firstim pression so you can begin theprocessof
developingalong-term businessrelationship.
CAUTION:Do notm ilk them forallthereferralsyou can possiblygetoutofthem in the
veryfirstm eetingorconversation on thephone.Rem em ber… relationship buildingisa
life-longprocess.You w illhaveam uch betterchancebytakingitslow duringtheinitial
m eetingforbuildingalong-term referralsource.
H aveyou everhad theopportunityto sitin am ajorportorharborand w atch them bring
in thosem onstrous600-footoiltankersorcargo shipsfordocking?Thecablestheyuse
to tiethesevesselsto thedock arem assive.Itisan im possibilityto throw oneofthese
linesfrom theship to thedock.In fact, itisim possibleforahum an to even pick up one
ofthesecables.
So, hereisw hattheyhaveto do.
First, theythrow athin ropethathasbeen w eighed dow n on theend, overthedock.Even
achild could throw italongdistance.W hen thatropereachesthedock, alongshorem an
beginsto pullthatthin ropeto shore.Do you know w hatistied to theend ofthatthin
rope?A m uch thickerrope.Now , thethick ropeispulled to shore, and you probablycan
guessw hatisattached to it… that’sright, them assivecablethatisused to pulltheship
in.
Keep thatim agein m ind duringyourinitialcontactw ith theseprofessionals.Goingfor
everyreferraltheyhaveduringthefirstcallw ould bevirtuallyim possible.You could
end up dam agingaviablelong-term referralsource.
Thegoalduringtheinitialcontactistw o-fold:
First, you m ustqualifythisindividual.Do you w antto investyourprecioustim e
developingarelationship w ith thisprospect?
Secondlyyou w anthim /herto seeyou asan honest, extraordinarilyknow ledgeable, and
02/2007
Se c t i o n Th r e e : H o w t o Co n t a c t a n d Se t A p p o i n t m e n t s W i t h A d v i s o r s

9. 9
THE ART OF REFERRALS
Se c t i o n Th r e e : H o w t o Co n t a c t a n d Se t A p p o i n t m e n t s W i t h A d v i s o r s ( c o n t . )
totallycredibletrusted advisorloan officer.
W ith thatsaid, letm efirstgo into theexactstepsand scriptsto usew hen you arefirst
m akingcontactw ith afinancialprofessional.
Beforeyou m akethefirstm eeting, Ihighlyrecom m end doingsom equick research on
google.com so you haveabasicunderstandingofhow thisprofessionalpresents
them selvesto theircustom ers.Besureto usethe“LINK’SSearch”beforeevery
m eeting—review chapternineforsom eadvanced Googlesearch tips.
Now let’sstartw ith areferralyou havereceived from oneofyourow n custom ers.The
bestw ayto approach areferralisto m ention thereferringparties’nam efirst, beforeyou
m ention yourow n nam e.H ereisan exam ple:
“H ello, Joe.SuzyFundingsuggested thatIgiveyou acall.Iunderstand you prepareher
taxreturns?”
“Yes, Ido.”
“M ynam eisDaveSavagew ith XYZ M ortgage, and Iam currentlyin theprocessof
processingam ortgageforher(orjustclosed aloan forher).”Ithen letthem know
thatIspecializein w orkingw ith CPAsand financialplannersbysaying,
“Do you everhaveclientsw ho haveaneed forrealestatefinancing?”
“Sure.”
“Do yourclientseverask you aboutrealestatefinancing?”
“Yes.”
“Great.Iw illsend you aletterintroducingm yselfand thekindsofservicesIprovideto m ycli-
ents, alongw ith afew testim onialsfrom pastclients.Then, Iw illgiveyou afollow -up calland
schedulean appointm entw ith you.”Thisisakeyfirststep becauseIw antto createsom ecredi-
bilityand differentiation beforew econtinuetalking.M ostloan officersw illskip thisstep and
justgo fortheclose, notto m ention theyw illnothaveacredibilitybuildingpackagelikem ine.
02/2007

10. 1 0
THE ART OF REFERRALS
Se c t i o n Th r e e : H o w t o Co n t a c t a n d Se t A p p o i n t m e n t s W i t h A d v i s o r s ( c o n t . )
I’d especiallyliketo pointouttheim portanceofsendingtheadvisorsom e
actualexam plesoftheanalysisand adviceyou provideto yourclients.If
you areaM ortgageCoach M arketingM achineuser, send them som e
sam plereportsand analysesyou created usingit.Theseexam plesofthe
professionalserviceyou providew illm akeahugeim pression on theadvi-
sorand causethem to seeyou astheprofessionalcolleagueyou are.
Thenexttim eIcallthem up, Iw illschedulean appointm ent.Afterthe
openingpleasantries, Iusesom eform ofthefollow ingscript…
“W ell, I’d liketo schedulean appointm entw ith you so thatIcan explain
to you how m y
adviceisdifferentthan thatoftypicalloan officersand lenders.W ould
Thursdayat
8:00am w ork foryou?”
Thatisthebestw ayto getthefirstappointm ent.
Ifyou arecallingfrom an article, advertisem ent, orotherm ailingpiecethatyou have
seen, theonlychangesareyouropeningrem arks.It’sverysim ple.You justneed to
m ention thepiece, and theyaregoingto takeyourcall.
“Inoticed thearticleyou w erequoted in on Tuesday.Thereason form ycallisI
specializein w orkingw ith CPAsand financialplanners.Iw ould liketo schedulean
appointm entw ith you to show you how m yadviceisdifferentthan thatoftypicalloan
officersand lenders.W ould Thursdayat8:00 am begood foryou?”
Afterthat, theprocessisidenticalto how you w ould w ork w ith an advisorthatw as
referred to you from acustom er.
W hatifheisalreadyw orkingw ith am ortgagebroker?
“IhaveaguyIhavealreadybeen referringbusinessto.”
“IfIsend you m ybusinesscards, w ould you havea problem offeringyourclientsa
choice?”
“Yes/No.”
02/2007
Examples of reports and analyses created
u si ng th e M ortg ag e C oach M ark eti ng
M ach i ne

11. 1 1
THE ART OF REFERRALS
Se c t i o n Th r e e : H o w t o Co n t a c t a n d Se t A p p o i n t m e n t s W i t h A d v i s o r s ( c o n t . )
“W ell, itsoundslikehehasbeen doingan adequatejob foryou.”Suggestion:Iw ould
liketo sharew ith you som ecriticalinform ation thatm akesm edifferentfrom otherloan
officers.M yadvicem akesalife-changingdifferenceforyourclientsbecause:
“W hatreallym akesm edifferentisthatIhaveaveryuniqueapproach—m ostloan officersjust
quoteratesand fees… Ido w hatiscalled aTotalCostAnalysisto help them m akean inform ed
decision.I’m com m itted to providingyourclientsw ith advicethatm akesadifferenceforthem .
W hatIw ould liketo do issitdow n w ith you, sinceIgetm ostofm ybusinessfrom CPAsand
financialplanners, (Letthem know thatyou dealalm ostexclusivelyw ith CPAs) and explain the
advisorysoftw arethatIuseand show you how AD VICE m akesadifference.TheadvicethatI
provideyourclientshelp them m akebetterdecisions.W ould thatm akeanysenseforyou?Do
you haveanyinterestin that?”
Theansw erisalm ostalw ays, “Yes.”
“Let’sdo this.Itshould onlytakeabout30m inutesto go overthereportand analysis
thatIusethathasbeen verysuccessfulassistingotherCPAsto provideadvicethat
generatesm orereferrals.”
Now , ifI sense that this guy isn’t goingto be a great source ofreferrals, I m ay not w ant
to take tim e out ofm y schedule to personally m eet w ith him . In that case, I use this
alternative w rap-up.
I’m goingto send you aletterofintroduction, businesscards, afew sam plereports(e.g.Rate-
W atch, TotalCost, EquityRepositioningAnalysis), and acoupleoflettersofrecom m endation
from pastclients.
Then Isend him theInfoFAX on a regularschedule, butw on’tcom m itm ytim efora
personalvisitw ith him .InfoFAX isanew sletterthatfocuseson educatingprofessionalsabout
interestingratesand theeconom icfactorsinfluencingthem .Given today’sm arket, Ihighlyrec-
om m end BarryH abib’sM ortgageM arketGuide(w w w .m ortgagem arketguide.com ) to provide
you w ith thecontentforthisstrategy.
Letm epointouttoyou how strongthism akesyourposturew hen approachingadvisors
and w hen battlingw ith com petingbrokersforreferrals.
02/2007

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13. 1 3
THE ART OF REFERRALS
Se c t i o n Th r e e : H o w t o Co n t a c t a n d Se t A p p o i n t m e n t s W i t h A d v i s o r s ( c o n t . )
H ere are three sim ple strategiesthat m ake m e different from the com petition:
1. Thefactthatm yadvicem akesalife-changingdifferenceto yourclients.
2. UsingtheM arketingM achine, Iam goingto continueto providethem w ith am onthly
RateW atch reportto m akesuretheyhavethebestloan todayand form anyyearsto com e.
3. Everytw o w eeks, Iw illbeeitherfaxingore-m ailingm yInfoFAX usingM ortgageM arket
Guide’scontent.
02/2007

14. 1 4
THE ART OF REFERRALS
Se c t i o n F o u r : H o w t o Cr e a t e I n s t a n t Cr e d i b i l i t y W h e n M e e t i n g W i t h a CP A
o r F i n a n c i a l P l a n n e r
In thissection, Iw antto teach you how to conductyourfirstface-to-facepresentation
w ith CPAsand FinancialPlanners.Theprim arygoalisto establish credibilityasa
professionaland develop astrongrapport.
First, Iuserelevantquestionsto takecontrol.Ialso establish credibilityasaknow ledgeable
professionalthrough thequestionsIchooseto ask, and byvisuallyshow ingthem sam plesof
theadvanced reportsin theM ortgageCoach and theM ortgageM achineservicedeliveryvehi-
cle.Iusuallystartw ith theRateW atch reportbecauseeveryoneisim pressed w ith theunique
valueitrepresents.Itdem onstratestwo pow erfulm essages:First, itim m ediatelydem onstrates
thatIhaveadviceand toolstheyhaven’tseen from otherlenders.Secondly, itshow sthem m y
com m itm entto m yclientsafterthesaleto ensurem yclientsalw ayshavethebestloan avail-
ablein them arket.Thisreportestablishestrustand credibilitythatgivesyou an im m ediate
com petitive advantage.
Itisim portantthatyou continueto build instantcredibilityforyourself.
Afteryou establish rapport, usequestionsthatshow you havean understandingofhis/her
business.Ask them personalquestionsaboutthelasttim etheyfinanced ahom e.Iask
them contrastquestions, such as:
“Did thelastloan officeryou w orked w ith do an analysissuch asaTotalCostAnalysis?”
Then drilldow n on thevalueofdebtreduction and assetaccum ulation.“Doesyour
lenderorloan officertrack yourm ortgageon an on goingbasis, show ingyou how
02/2007

15. 1 5
THE ART OF REFERRALS
Se c t i o n F o u r : H o w t o Cr e a t e I n s t a n t Cr e d i b i l i t y W h e n M e e t i n g W i t h a CP A
o r F i n a n c i a l P l a n n e r ( c o n t . )
today’sloan program sand interestratescom pareto yourcurrentm ortgage?”(Seesam pleTotal
CostAnalysis>> Seesam pleRateW atch Report>>)
Rem em ber—in m ysitua-
tion, Iearn m ostofm ybusi-
nessfrom CPAsand finan-
cialplanners.Becauseof
this, itiscriticalthatIdem -
onstratethatIhaveknow l-
edgeoftheir
business.
IusequestionsIhavedevel-
oped to dem onstrateaba-
sicunderstandingofhis/her
business.Iw illgiveyou a
sam pledialogoftheinter-
view processIgo through.
You w illnoticethatIam
also qualifyingthem to seeiftheym eetm ycriteriaassom eoneIw antto spend m ytim eon.
Idon’thaveaspecificscriptthatIgo through everysingletim e.ThegoalthatIw antto accom -
plish istw o fold.Firstisto m akethisperson like, trust, and respectm e.Second is
to com pletelyqualifythisindividual.
Theobjectiveisnot to seehow m anyreferralsIcan m ilk outofhim /herin asingle
m eeting.M ygoalisto establish the beginning ofa long-term relationship.People
likeit, and areim pressed w hen you m akeitapointto know alotaboutthem and their
businessorindustry.H erearesom equestionsIstartoffw ith to gethim /herto open up
to starttellingm eabouttheirbusiness, and establish m yprofessionalcredibility:
• H ow m anyCPAsarein thisoffice?
• H ow m anypartnersdo you have?
• H ow longhaveyou been in business?
• Isyourem phasism oreon gettingindividualorbusinessclients?
• H ow m anytaxreturnsdo you prepareayear?
02/2007
T h e reports from T h e M ortg ag e C oach —a cru ci al k ey to referral su ccess.

16. 1 6
THE ART OF REFERRALS
Se c t i o n F o u r : H o w t o Cr e a t e I n s t a n t Cr e d i b i l i t y W h e n M e e t i n g W i t h a CP A
o r F i n a n c i a l P l a n n e r ( c o n t . )
• W hatisyourm ix betw een corporateclientsversesindividuals?
• Geographically, w heredo yourclientscom efrom ?
• H ow do you m arket?(Som eCPAsfrom theold schooldo notliketo m arket.)
• H ow aggressivelyareyou lookingto expand?
• Areyou lookingto expand yourpracticeorareyou happyw ith yourcurrentflow ofbusi-
ness?
• H aveyou referred businessto otherlendersin thepast?
• H aveyou seen thetypesofreportsand analysisthatIhaveshow n you today?
• Doesyou currentlendersend you aRateW atch report?
You should not ask allofthese questions in one sitting. You are not w ritinga book, you
are sim ply tryingto find a little about this advisor’s business and w arm him /her up a bit.
It is very im portant that you ask these questions in a casualm anner and be yourself.
Atthispoint, Iam in controland Ihavepeaked theirinterest.Iw entfrom beingsom eguy
offthestreetlookingforareferral, to beingan interestingtrusted advisor.
W a tc h O u t f o r T h ese C r edib il ity L a nd Mines
Duringthisinterview , therearetwo seriouscredibilityland m inesthatcan blow both
yourprofessionalism , and anychanceofeverseeingareferraloutofthew ater.
Thefirstland m ineisactinglikeyou need thebusiness.Desperation islikebad
cologne… you can sm ellit!Rem em ber, earlierIadm onished you to throw aw aythe
“littlepuppyhopingforacrum b to falloffthetablem indset”and takeon the“Trusted
AdvisorsEdge”m indset.Nobodylikesdoingbusinessw ith som eonew ho seem s
desperate.Buttheyw illstand in lineto do businessw ith som eonetheyrespectw ho’sin
dem and.
Thesecond land m ineisforgettingyou arethereto providethem w ith valuable
know ledgeand advice.Rem em ber, you arethereto help them .You arenotthereto ask
them forbusinessorhelp.You arethereto providethem w ith life-changingadviceand
inform ation.You aretherew ith theattitudeof“Ifyou don’tdo businessw ith m eyou are
m akingam istake.”You aretherew ith totalconfidencein w hatyou haveto provide.
You’renotthereto sellthem som ething.You areshow ingthem “Iam hereto m akean
im pactand thisisofno costto you.”Thatistheattitudeyou should carry.Nothaving
thetrusted advisor’sedgeisyourbiggestland m ine.Byvisuallyshow ingthereports
02/2007

17. 1 7
THE ART OF REFERRALS
Se c t i o n F o u r : H o w t o Cr e a t e I n s t a n t Cr e d i b i l i t y W h e n M e e t i n g W i t h a CP A
o r F i n a n c i a l P l a n n e r ( c o n t . )
generated bytheM ortgageCoach, you w illclearlyseparateyourselffrom anyloan
officerhehasm etin thepast.
Thebeginningofm yadvisorcom m unication program startsw hen Ifirstm eetw ith them .
But, Iam carefulnotto ask forreferralseverysingletim eIcall.Im ayonlyask every
othertim e.Iusetheothercontactsto givethem updateson them arketorothervaluable
inform ation.
Ialso add them to m yInfoFAX listand begin to faxa new slettereverytw o w eeks—again, using
BarryH abib’sM ortgageM arketGuide’se-m ailnew sletters.
In addition, Idon’tlim itm yselfbym erelyaskingforloan referrals.TheseCPAsand
financialplannerscan begreatsourcesofleadsto otherCPAsand attorneys, etc.H ereisa sim -
plew ayto ask.Let’sassum eyou justasked foraloan referraland theydidn’thave
oneforyou.
“Idon’thaveanybodyrightnow .”
“That’s ok. W ho do you know that is a financialplanner or perhaps another CPA in
your office?W ho is your m ost successfulfriend in the business?Do you m ind ifI
use your nam e?”
You w illsoon havem oreCPAsand financialplannersthan you can possiblyfollow up
w ith usingthissystem .So, itisgoingto bevitalthatyou develop asystem aticw ayto
Follow up and capitalizeon thesevaluablereferralsources.Thisisw hyIthink itis
im portantform eto teach you thissystem forkeepingtrack ofallyouradvisors,
determ iningw hich onesyou should spend yourtim eand attention into cultivating.
You m ust train and condition your advisors on how to refer business back to you. Atthe
beginning, m anyoftheseadvisorsthatyou contactw illnothavebeen trained on how to
keep alook out.Itw illtakean attentiveear(on theadvisor’spart), trained to listen for
thosecuesand cluesthatareopportunitiesto send you businessin addition to giving
value-added serviceto theirclients.
02/2007

18. 1 8
THE ART OF REFERRALS
Se c t i o n F i v e : B u i l d i n g a n d M a i n t a i n i n g Y o u r CP A a n d F i n a n c i a l P l a n n e r D a t a b a s e
Thissection istheheartand soulofm ysystem .
W hiletheprinciplesareeasyenough to apply, you need to keep thisfactin m ind:ifyou
do notcontinuouslyand professionallyfollow up and keep in touch w ith theCPAsand
financialplanners, allthew ork you havedoneup untilnow w illhavebeen atotalw aste
oftim e.
Theenginethatkeepsm yreferralm achinegoingyearafteryearisthefollow -up system
Ihavedeveloped thatkeepsm ein constantcontactw ith m yadvisors.Ifyou arenot
usingacontactm anagem entsoftw areprogram to m aintain yourdatabase, you need to
investin one.Ihaveputm yentiresystem on com puter, so allIhaveto do ispush a
button and theletterorfaxison thew ay.In fact, theprogram even rem indsm ew hen to
send w hich docum ent.
Iknow thatyou haveheard aboutthe80/20rule.
You w antto spend 80% ofyourtim eand energyon thetop 20% ofyouradvisors.Ihave
developed asystem thateasilyallowsyou to focusyourtim eand energyon thesevery
valuablerelationships.H ereishow Iclassifyand keep track ofallm yadvisorsand advisors-to-
be.
Advisor/Suspect: Anykind ofCPA and financialplannerthathasbeen given to m easa
referralor, Ihaveseen alotofm ediaattention given to.TheactionsItakeare:
1. A qualifyingphonecall;
2. Sendingan introduction letter, clienttestim onials, and printed exam plesofm yservices,
includingRateW atch, acreditreport, and an equityreview ;
3. Iftheadvisorseesprom ising, Im aytakean appointm ent.
Advisor/Prospect—Ihad 399 prospectsin thissegm ent: AnyoneIhavetalked to w ho
hasm etm ycriteriaand qualifies.Ipersonallyw illtakeaCPA, forexam ple, w ho hasat
least100clients.(Thesenum bersvaryforfinancialplanners.You w illhaveto
develop yourow n criteriaforeach categoryofadvisor.) H erearem yaction steps:
1. Atleastfourcallsperyear;
2. Sixm ailpiecesayear;
3. Follow -up letters;
4. Send sam plesofRateW atch, acreditreport, and an equityreview .
02/2007

19. 1 9
THE ART OF REFERRALS
Section Fiv e: B uilding and Maintaining Your CP A and Financial P lanner D atab ase (cont.)
Advisor/Silver—Ihad 161 clientsin thissegm ent: Thesepeoplehave
identified
them selvesbytellingm ethattheyw illdefinitelyreferm ebusinessand
theyhaveatleast
200clients.H erearetheaction steps:
1. Atleastfourcallsayear;
2. Sixm ailpiecesayear;
3. Follow -up letters;
4. Thank-you cards;
5. InfoFAX—fax/e-m ail;
6. Send sam plesofRateW atch, acreditreport, and an equityreview .
Advisor/G old—Ihad 118 clientsin thissegm ent: Thesearethetop 30%
ofm y
advisors.Theyhavereferred businessm yw ayand Ihaveestablished a
strong
relationship w ith them .Thesearetheaction steps:
1. Sixorm orecallsayear;
2. Printed exam plesofm yservices;
3. Sixm ailpieces;
4. InfoFAX—fax/e-m ail;
5. Send sam plesofRateW atch, acreditreport, and an equityreview ;
6. Thank-you cards;
7. Follow up letters.
Advisor/Partners—Ihad 115 clientsin thissegm ent: Thesearem y
best20to 30clients
orthebest15% .Thisism ysalesforce.Theyareconstantlycallingm ew ith
referrals.I
do alotofspecialthingsfortheseadvisors.You w illrealizethatbylooking
attheaction stepsthatItaketo m aintain therelationship.
1. Sixorm orecallsayear;
2. Printed exam plesofm yservices;
3. Sixm ailpieces;
4. Invitetolunch and/ordinnerannually;
02/2007
Sample RateWatch Report
Sample E q u i ty Repos i ti on i n g A n aly s i s

20. 20
THE ART OF REFERRALS
Section Fiv e: B uilding and Maintaining Your CP A and Financial P lanner D atab ase (cont.)
5. InfoFAX—fax/e-m ail;
6. Send sam plesofRateW atch, acreditreport, and an
equityreview ;
7. Send Christm ascard;
8. Thank-you cards;
9. Send birthdaycards.
Note:IusetheM ortgageCoach M arketingM achineto cre-
atetheprinted exam plesofRateW atch, creditreports, and
equityreview s.
Iseem yselfasasourceoftrusted know ledgeand advice.IfI
haveidentified and established contactw ith aCPA orfinan-
cialplannerthathastheabilityto referbusinessto m e, I
need to send him m yInfoFAX, interest-rateupdates, and,
callup occasionally.Ifheseessom ethingcom eoverthefax
from m eeverym onth orso, and heseesthingscom eacrosshisdesk from m ein them ailevery
otherm onth, itw on’tbelongbeforeheisreferringbusiness.
Itryto keep contactgoingfor3to 6m onths, and then iftheadvisorneverreturnsm y
callsorsendsm eanyreferrals, Iw illreducehispriority.Therearejusttoo m anyfish in
theseato keep w astingm ytim eon som eonew ho doesn’tw antto referbusinessto m e.
H ow ever, don’tforgettheim portanceofpatience.Som eofm yverybestreferral
generatorstook alongtim eto harvest.
Thissystem w orksw ellform ovingpeoplethrough aseriesofstagesthatgradually
increasetheirloyaltyto you and helpsm axim izehow you investyourtim e.
Thisisthesystem and approach thathelped m eclose252loansand generated over
$962,500 in annualcom m ission—w ithout talking to realtors.W hileIdo notexpect
you to takethisto theextrem ethatIhave, Iw ould likeyou to fullyrealizethatyou can
develop anew sourceofreferralsthisw ayand dram aticallyexpand yourpresentincom e.
02/2007
C reate referral-g enerati ng pri nted reports
and rev i ew s u si ng th e M ark eti ng M ach i ne.

21. 21
THE ART OF REFERRALS
Section Six : How to Cap ture A uthoritativ e E ndorsem ents That A llow You to
L ev erag e a Sing le Referral I nto D oz ens
In thefinalsection ofthisreport, Iam goingto revealoneofm ym ostrecentand pow erfulde-
velopm entsin gettingfloodsofreferralscallingm e.Ifbuildingand m aintainingyourCPA and
FinancialPlannerdatabaseistheheartand soulofm ysystem , then capturingauthoritative
endorsem entsarethebrain.W hy?It’sthesm artw ayto turn asinglereferralinto dozens.
Severalm onthsago, am arketingconsultantsaid to m e, “Yourreferralsystem isgreat,
butyou arem issingtherealleverageofw hatyou aresittingon.Ibetthatifyou actually
had theseCPAsand financialplannersm ailoutaverystrongendorsem entletterdisguised as
an im portantfinancialupdate, you could turn thosepassivereferralstream s
into runningriversofreferralgold w ithin days.”(Yes, hereallydoestalk likethat.) I
thoughtaboutw hathesaid and figured itw asatleastw orth atry.OnceIw asableto get
thefirsttestoutin them ail, Iw asstunned.
W ithin hoursofthatletterhittingpeople’sdesksin them orning, Iw asgettingcalls.
Actually, ten callsthefirstday!Ihadn’teven m ailed thatm any(about400).Som eof
thecallsarepeoplew ho w erepresentlyrefinancing, and othersw erepeoplejustseeingif
theygotagood dealw hen theyrecentlyrefinanced, butatleast20% ofthose
callsarelaydow n, highlyqualified clients.
Yahoo!Yahoo!Yahoo!
W hatisthepointto thislittlestory?
Ifyou presentlyhaveeven acasualrelationship w ith CPAsorfinancialplanners, you
could generatedozensofnew loansw ithin daysofm ailingthisletter.In fact, thisletter
w ould w ork forastrongrealestateagent’scustom erbaseifyou w anted to trythatout.
Ifyou havenotyetbeen convinced thatyou need to add anotherpillarto yourbusiness
bydevelopingrelationshipsw ith advisors, thislittleletterand m arketingconceptshould
graphicallyshow you thenum berofdealsthatarejustslippingaw aythough yourfingers.
Thissection should serveasaw akeup callto thatpartofyourbrain thatw antsto m ake
m orecash in ahurry, w ithouthavingto w ork reallyhard to getit.Thisisalm ostbetter
than theDom ino’spizzaslogan “H otpizzadelivered to yourdoorstep in 30m inutesor
less”.
02/2007

22. 22
THE ART OF REFERRALS
Section Six : How to Cap ture A uthoritativ e E ndorsem ents That A llow You to
L ev erag e a Sing le Referral I nto D oz ens (cont.)
Thisslogan could be“H ot, qualified referralsdelivered to yourdoorstep… ”
Anyw ay, Ithink you getthepointIam tryingto m ake.Let’sgettotheexactstepsyou
need to taketo m akethisdream areality.
Tw o ofthem ostim portantthingsIhavefound in getting the endorsem entsare:
• One: Finding a selfish intereston theirpart.A m otivation forthem to do thisletter.You have
gotto find outw hatm akesthem tick and go, “YEAH !Iw antit.Let’sdo itnow .”G etthem inter-
ested, getthem to say, “Yes, thatisa greatidea and Ican seehow thatw ould benefitm ybusi-
ness.”Keep sending differentinform ation overto them , discussing w hythisalliancem akes
sense.You havegotto tieitto how itisgoing to m ake m orebusinessforthem .
• Tw o: M akeitsim ple.O fferto take careofallthefolding and labeling, offerto com eoverand
dow nload theinform ation rightonto yourcom puter.O fferto w ork w ith theiradm inistrative
assistant.Justm akeitaspainlessand hassle-freeaspossibleforthem .
D o notgetthese tw o turned around.W hen Ifirststarted, Iw ould sayhow easyIw as
going to m akethisforthem and theykeptforgetting to send itoutin theirnew sletteror
m onthlym ailing.Theyw ould saytheydid nothavethe tim eorhad justforgotten.
AfterIlearned to convincethem that“thisw illm akeyourtelephonering, thisw ill
generateleadsforyou,”they forgotthatIhad even m entioned Iw asgoing to take careof
thecost.Iw ould actuallyhaveto rem ind them ofthat.
Anotherm istake w asthatIjustcharged in there.Ididn’task enough questions.Iw entin
w ith a presentation, “H ere’sa hotstrategyand letter.Itcan m akeyourphonering.Itis
going to generateleads.Itistim elyinform ation foryourclientsthatIknow you w illw ant
to givethem .”Idid notsetitup properly—theyneed to believethatthisw asin theirow n
bestinterest.
H ereisaveryeffectiveand proven w ayto getthisendorsem entlettersentoutquickly.
“Do you send outnew spiecesto yourclientsabouttaxesand interestrates, etc.?Great.
W hatisthepurposeforyou doingthat?”
“Iw antto providem yclientw ith inform ation and keep m ynam ein frontofthem .”
02/2007

23. 23
THE ART OF REFERRALS
Section Six : How to Cap ture A uthoritativ e E ndorsem ents That A llow You to
L ev erag e a Sing le Referral I nto D oz ens (cont.)
“That’sgreat.So, them orew ecan keep yournam ein frontoftheclients, thebetter?”
“Absolutely.Ialw aysliketo do that.”
“W hydon’tyou do itm oreoften?”
“Idon’thave thetim e.”O r“Itcostsm oney.”
“And do you likeitw hen yourclientscallyou aboutthe thingsthatyou send outto
them ?”
“O fcourse.”
“D o you likeitbecausethatisan opportunityto getm orereferrals?”
“Yes.”
“H ereisw hatI’d liketo do, sinceitism utuallybeneficialto both ofus.Thisis
som ething thatcan benefitm e, asw ellasyou.Sinceyou areputting up thedatabaseand
w earesending thisletteroutto yourclients, Iw illpick up thecostand w illfold, stack,
stuffand send outallthem ailers.”
Thebestw ay to handlethisisto say, “I’llcom ein and dow nload yourinform ation into
m ylaptop.”Then, handleeverything yourself.
Anything you can do to make it simple for them.
Say, “Let’sscheduletw o hourson Saturdayafternoon.”O r“Let’sscheduletw o hourson
such and such.Iw illsitdow n w ith yourassistant, and I’lldo w hatever
needsto bedone to help you getthisjob done.”
Thatisthebestw ayto do it.
Thebottom lineisto havethem m otivated to w hytheyw antto do it, w hyitm akessense
to them , and w hyitw illbenefittheirbusiness.Then, you haveto go in and m akeiteasy.
Takeasm uch controloftheprocessaspossible, becauseitw illshorten thetim elineon
getting those m oneym aking endorsem entsoutthedoor.
02/2007

24. 24
THE ART OF REFERRALS
Section Six : How to Cap ture A uthoritativ e E ndorsem ents That A llow You to
L ev erag e a Sing le Referral I nto D oz ens (cont.)
Thisisim portant:W hen thesepeoplestartcalling you up and thingsaregoing w ell, do
notforgetto startasking forreferrals.Yourprofitsaregoing to grow geom etricallybydoing this.
Alw aysask forthereferral!
02/2007

25. 25
THE ART OF REFERRALS
Section Sev en: The A rt of Referrals—A Rev olutionary W ay of D oing B usiness
In thisreport, I’vetold you how to takechargeofyourreferral-creation process.First, Itold you
aboutthem illion dollar“Trusted Advisor’sEdge”m indsetyou need to have.Thism indset
com esfrom havingaprofessional“I’m hereto do businessand you need theserviceIdeliver”
attitude.W hen you believethatyouradvicecan actuallym akealife-changingdifferenceand
you possesstheknowledgeand insightfinancialadvisorsneed to im provethelivesoftheircli-
entsand them selves, theyw illrealizethatyou areaprofessionalthattheycannotafford to do
businessw ithout.
In thesecond section, Ishow ed you how to find m orequalityreferralsourcesthan you can han-
dle.Thew ayisto establish relationshipsw ith financialadvisors.Thebestw ayto do thisisby
goingthrough yourow n currentclients.You can eitherask them w ho theirfinancialadvisors
areorglean theiradvisor’sinform ation directlyfrom yourclients’financialdocum ents.Another
greatw ayto locatefinancialadvisorsisto find them in new spapersand otherm edia.A diligent
efforton thesetw o frontsw illyield m orereferralsthan you can handle!
Third, Ioutlined am ethod ofcontactingand settingup appointm entsw ith advisors.Asw ith
anythingw orthw hile, contactingand m eetingw ith advisorsneedsto bedoneright.Itherefore
brokethism ethod into tw o basicsteps.Thefirstisto getthrough to theadvisorsso thatyou
can establish thefoundationsofafuturerelationship.Thesecond isto m akeagreat firstim -
pression so you can begin theprocessofdevelopingalong-term businessrelationship.
Asexcitingasgettingleadsto financialadvisorscan be, don’tjustchargeoutofthegate!Iw rote
Section Fourto help you build yourrelationshipsw ith advisorsbygraduallyestablishingcredi-
bilityand rapport.AsaM ortgagePlanner, yourinitialgoalisnotto m ilk an advisorforallthe
referralshecan giveyou.Rather, itisto establish along-term relationship thatw illafford both
you and him professionalsuccessand advancem entthroughouttheyears.Oncetherelation-
ship isfirm lyfooted in professionalrapport, personaltrust, and m utualbenefit, thesky’sthe
lim it.Justw atch outforcredibilityland-m inesalongthew ay!
In thefifth section, Irevealed the“heartand soul”ofm y referralsystem :buildingand m aintain-
ingyourCPA and FinancialPlannerdatabase.Allthew ork you’vedoneup untilnow requires
m aintenance.You need to continuouslyand professionallyfollow up and keep in touch w ith
youradvisors.H ow do you do this?Sim plyusem ytried and truefollow -up system to focusthe
appropriateam ountofattention on each advisor.In general, thisinvolvescategorizingyour
02/2007

26. 26
THE ART OF REFERRALS
Section Sev en: The A rt of Referrals—A Rev olutionary W ay of D oing B usiness (cont.)
contactsand then expendingthebulk ofyourefforton them ostproductiveofyourcontacts,
w hilestillm aintainingappropriatecontactw ith therestofyourcontactsaccordingto m ycare-
fullydevised contactand m ailingplan.Byusingthisplan, you can nurtureyouradvisorsso that
theybecom esteadystream sofreferralw ealth!
Finally, Italked abouthow to captureauthoritativeendorsem entsthatallow you to leveragea
singlereferralinto dozens.Ido thisbyusingasim ple, enterprisingletterand m arketingcam -
paign in closecooperation w ith thefinancialadvisorsw ho arem ostsuccessfuland w ith w hom
you havetheclosestrelationship.Thisapproach w ill, in thew ordsofoneofm ym arketingcon-
sultantfriends, “turn thosepassivereferralstream sinto runningriversofreferralgold w ithin
days”!
Now you know theArtofReferrals.You havebeforeyou aslam -dunk m ethod ofgoingfrom
beingatypicalloan officerw ho isbankingon futurenew custom ersto beingatrusted advisor
w ho hasasteady, predictable, and m ultiplyingreferral-driven business.Thisrevolutionaryw ay
ofdoingbusinesshasw orked form eand thousandsofsuccessfulM ortgagePlanners.And it
w illw ork foryou too.Allthatisleftisforyou to do it.W elcom eto thew onderfulw orld ofrefer-
ral-driven business!
02/2007
For more information on my ideas and insights, subscribe to my blog, Savage Insights,
at w w w . savageinsights. com.
For more information on T he M ortgage C oach and T he M ortgage C oach M ark eting
M achine, p lease visit w w w . mortgagecoach. com or call 1 -8 0 0 -9 5 1 -2 6 9 6 .