Building bridges: How mortgage brokers can strengthen relationships with strategic partners – Flavin

Remember when we used to meet face to face with our estate agent partners for coffee? Or when we'd pop into the local accountancy firm with some fresh doughnuts?

Those days seemed to vanish overnight when Covid-19 hit. Many of us got used to quick emails, short Zoom calls, and the occasional text message. It was a ‘light touch’ approach that helped us survive the pandemic, but is it really helping us thrive today? 

The truth is, many mortgage brokers have stuck with these distant relationships. The brokers who are seeing the most success are those rebuilding stronger bonds with their strategic partners.

 

Why strong relationships matter more than ever 

In today’s competitive mortgage market, having solid relationships with your strategic partners isn’t just nice to have – it’s essential.

Here’s why: estate agents, accountants and HR managers are trusted advisers to your potential clients. When they recommend you with genuine enthusiasm, that’s worth more than any advert you could pay for. People trust recommendations from professionals they already work with. 

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Strong relationships lead to better quality referrals. Partners who really know you and understand your expertise will send you clients who are the right fit for your services, saving everyone time and frustration. 

Your competitors are working hard to win over these same partners. If you’re only making minimal effort, someone else will step in and build the relationship you could have had. 

 

The Covid-19 effect: how relationships changed 

When the pandemic hit, we all adapted quickly. Face-to-face meetings became video calls. Networking events became webinars. Popping in for a chat became sending a quick email. These changes were necessary at the time, but many brokers have continued with this ‘light touch’ approach. 

The result? Weaker connections, less personal understanding, and fewer quality referrals. Many strategic partners now work with multiple brokers rather than having one trusted adviser they send all their clients to. 

But this challenge is also an opportunity. Brokers who make the effort to rebuild and strengthen these relationships now will stand out from the crowd. 

 

Seven ways to strengthen strategic partnerships 

Regular face-to-face meetings 

Nothing beats meeting in person. Set up a regular coffee or lunch meeting with your key partners. Even quarterly catch-ups can make a huge difference compared to purely digital communication. 

Simple step: Block out one morning each month dedicated to partner meetings. Call your top three partners this week to schedule your first catch-up. 

 

Become a valuable resource 

The best partnerships are two-way streets. Don’t just ask for referrals – make yourself valuable to your partners. 

For estate agents: Provide regular housing market updates they can share with their clients. Let them know when mortgage rates change and how this might affect buyers. 

For accountants: Share tax implications of different mortgage structures. Help their clients understand how property investments affect their overall financial picture. 

For HR managers: Offer free mortgage advice sessions for their employees. Create simple guides they can include in their employee benefits packages. 

Simple step: Create one valuable resource for each type of partner this month. This could be a one-page market update, a simple guide, or an offer to speak at their next client event. 

 

Use a personal tracking system 

Don’t trust important relationships to memory. Create a simple tracking system to remind you when to check in with each partner and record important details about them. 

Note their birthdays, work anniversaries, children’s names, hobbies, and professional interests. Reference these in your conversations to show you value them as individuals, not just as referral sources. 

Simple step: Set up a spreadsheet or use a CRM system with fields for personal details about each partner. Update it after every interaction. 

 

Offer joint marketing opportunities 

Work together on marketing efforts that benefit both of you. 

With estate agents: Host joint first-time buyer seminars where you both present. 

With accountants: Create co-branded guides on buying investment properties. 

With HR managers: Run financial wellbeing workshops for their staff. 

Simple step: Approach one partner this month with a specific idea for a joint marketing activity you could run together in the next quarter. 

 

Provide outstanding service to referrals 

When a partner refers a client to you, that referral reflects on them. Make sure you provide exceptional service, so they look good for recommending you. 

Always keep partners updated on the progress of their referrals (with client permission). Send a thank-you note after completing a case they referred. 

Simple step: Create a special ‘partner referral’ process that includes extra communication touchpoints and a feedback loop to the referrer. 

 

Recognise and reward 

Show your appreciation in ways that matter. This doesn’t always mean expensive gifts – thoughtful recognition often means more. 

Send handwritten thank-you cards for referrals. Bring coffee and treats to their office occasionally. Remember special occasions like work anniversaries. 

For significant referrals that lead to completed mortgages, consider more substantial thank-you gestures within regulatory guidelines. 

Simple step: Stock up on quality thank-you cards and set a reminder to send one after every referral you receive. 

 

Become part of their team 

The strongest partnerships happen when you’re seen as an extension of their team rather than an external contact. 

Offer to sit in their office one day per month to be available for quick questions. Join their team social events when invited. Introduce them to other useful contacts in your network. 

Simple step: Ask one of your key partners if you could hot-desk in their office for a few hours each month to strengthen your working relationship. 

 

Real success stories 

The estate agent connection 

Mark, a mortgage broker in Leeds, noticed his referrals from local estate agents had dropped significantly after the pandemic. He decided to restart his monthly visits to their offices, bringing coffee and pastries for the team. He also created a WhatsApp group with the key agents where he shared daily mortgage rate updates and quickly answered their questions. 

Within three months, his referrals had doubled. The estate agents told him that having him feel like “part of the team” made them much more comfortable referring clients to him. 

 

The accountant alliance 

Sarah, a broker specialising in self-employed mortgages, built a strong relationship with a local accountancy firm. She offered to review its clients’ mortgage situations as part of its annual financial reviews. She also created simple guides about mortgage options for different business structures that the accountants could share with their clients. 

The result? The accountancy firm now exclusively refers clients to Sarah, generating over 30 quality leads each year. 

 

The HR partnership 

David focused on building relationships with HR managers at large local employers. He offered free lunchtime mortgage advice sessions for employees and created a special discount package for staff at these companies. He also provided the HR teams with educational content about mortgages for their internal newsletters. 

These partnerships now account for 40% of David’s business, with the added benefit that many of these clients have stable employment and good incomes. 

 

Your 30-day action plan 

Ready to strengthen your strategic partnerships? Here’s a simple 30-day plan to get you started: 

Week 1: Reach out 

• Make a list of your top 10 potential strategic partners
• Call each one to arrange a face-to-face meeting
• Prepare a one-page update on the current mortgage market to bring to these meetings

Week 2: Add value 

• Create one valuable resource for each type of partner
• Share these resources with your partners after your meetings
• Set up a system to track your interactions and important details about each partner

Week 3: Propose joint activities 

• Develop ideas for joint marketing activities with each type of partner
• Present these ideas in your follow-up communications
• Schedule at least one joint activity for the coming month

Week 4: Follow up and plan ahead 

• Send handwritten thank-you notes to everyone you met with
• Schedule your next meeting or check in with each partner
• Set up monthly reminders to maintain regular contact

 

From light touch to strong bonds 

The ‘light touch’ approach that many of us adopted during Covid might have been necessary then, but it’s holding us back now. By making a conscious effort to strengthen your relationships with estate agents, accountants, and HR managers, you’ll build a reliable network of strategic partners who send you quality referrals. 

Remember, strong relationships aren’t built overnight. They require consistent effort, genuine interest in your partners’ businesses, and a willingness to add value before expecting anything in return. 

Start with just one or two key partners and apply the strategies we’ve discussed. As you see success, expand your approach to include more strategic relationships. Within a few months, you’ll likely see not just more referrals, but better quality ones that lead to higher completion rates. 

The mortgage brokers who thrive in today’s market won’t be those who sit back and wait for business to come to them. They’ll be the ones who actively rebuild their strategic partnerships and make themselves an invaluable resource to their partners. 

What will you do today to start building stronger bridges with your strategic partners?