US money lender launches loyalty scheme for agents
The Florida, USA-based real estate lender Silver Hill Financial has launched a points-based B2B loyalty scheme for its registered brokers who sell its loan products and services.
Silver Hill, which specialises in small-balance commercial loans, launched the programme with the aim of bettering its relationships with loyal brokers and loan correspondents. The programme is called Silver Star Rewards, and gives brokers rewards points for selling loans (existing commissions remain in place as well).
Earning points The Silver Star Rewards programme is available at no cost to Silver Hill brokers who close a loan with Silver Hill Financial. Rewards points accumulate with no expiry date, and can be redeemed for a range of items in programme's online catalogue, including award travel, sporting equipment, electronic goods, and gift certificates.
Redemptions Approximately one week after a loan closes, new programme members are advised via e-mail that they have been automatically enrolled in the scheme programme. The email notification asks them to register on the rewards web site in order to begin redeeming the points they've earned so far.
Potential According to Silver Hill, an average broker has the potential to earn enough points in a year to redeem for an LCD TV, a weekend getaway, or a NASCAR ride-along.
According to Joanna Schwartz, managing director for Silver Hill Financial. "Silver Star Rewards is an added bonus just for Silver Hill brokers, to reward them for their hard work, dedication and loyalty - we think they'll be as excited as we are about the rewards they earn just by doing business with us."