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For a couple of years, you (a mortgage broker) have had a referral agreement with a local accounting firm - Money Management Co. However, while it was a great source of business initially, there has been no business referred or effective contact between Money Management and your broking organisation for the past six months.
Question 1
You decided to revivify the relationship with Money Management to gain business and referrals from them again. To do that, you have decided to contact selected clients who would benefit and agree to be referred to a local accounting firm in hope that Money Management will reciprocally do the same to you.
a) Identify at least one category of clients who would benefit from being referred to a local accountant.
b) List at least two reasons why referring your own clients to Money Management could improve your business practices and benefit both yourself and your organisation
Question 2
Identify new and improved business practices you could implement to maintain a professional referral relationship with the accountant organization.
Question 3
How can you use your existing professional relationship with Money Management Co to expand the reputation of and promote your mortgage broking services?
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