In the 14 years I have been a mortgage consultant, I have not found a better or cheaper way to obtain high quality mortgage leads than building a financial referral lead network. In other words, I have found that surrounding myself with professionals that can refer clients to me that need my assistance is a fantastic way to build a mortgage broker business.

Without a doubt, the biggest mistake that loan officers make is chasing people down for a mortgage, instead of positioning themselves as an expert that only does business with people who were referred to them by a financial planner, accountant, a tax attorney and so forth.

There are several reasons why you want to build your mortgage broker business this way. The most important reason is your closing ratio. Your closing ratio on a lead referred by a financial planner should be about 30%. If you're working on typical lead you might purchase from the internet, your ratio might be 10%.

By doing business through a referral network you end up working fewer hours and making more money in the process. In other words, you're working less, and making more. I don't know about you, but working less for more money works for me.

Ok, so how do you go about building a mortgage lead generation team any way? It's actually not that hard. First you identify who the major players are in your area. Then, you send them a simple letter explaining why they can make more money by sending their clients over to you for professional mortgage planning.

After they've agreed to meet you in person, you give them some great examples of how their actually losing money by not working with you. Give them some recent example of how you were able to help your clients with some creative mortgage programs. Show them how you created more cash flow so your clients can retire faster with more money in their pocket.

If you do this right, this one mortgage marketing tool will provide you an endless supply of mortgage leads. Your business will grow, and you won't have to worry about where your next deal is coming from.

Work your business the smart way, and build a referral team that can make you money and give you a life too.