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The housing market has never been as competitive as it is right now. Homes receive multiple offers within hours of the listing being posted. Agents are almost impossible to get ahold of… and don’t even think about trying to buy if you aren’t willing to go over the asking price. This fast-paced, competitive market means mortgage brokers need to be ready at any moment for a new potential client

Here are 4 tips on how to capitalize on this crazy housing market and become everyone’s go-to broker.

Tip #1:  Connect with local real estate agents

  • When someone is buying a house, their real estate agent is the first person they turn to for EVERY question. That includes who to work with for their home loan. 
  • Because real estate agents are so busy, they need a mortgage broker they can trust. Someone they know can help their clients get pre-approved in an hour if needed and will make sure there are no issues when getting the loan processed. By making connections with real estate agents, you can become their go-to lender and receive a high number of referrals. Even helping clients with a pre-approval, which may seem like a lackluster free offering, earns their trust and future business.
  • There are a number of ways you can connect with real estate agents in your area. Find local events to attend where you can network with agents that are also trying to find connections. Take them out to lunch, attend a home building event. Even a DM on social media can lead to a long term friendship. Marketing for mortgage brokers includes growing your network and forming valuable relationships.

Tip #2:  Reach out to past clients 

  • Keeping communication consistent with past clients is your most valuable resource for generating future business. Whether they are looking to move, want to lower their rate, or interested in some extra cash to redesign their kitchen, you want to make sure you’re fresh on their mind.
  • Here’s a real life example from my own experience with my mortgage broker: About 6 months ago, my broker reached out to let me know that it was a great time to refinance. I got on the phone with him but ultimately decided not to move forward. 3 months later, I again became interested in refinancing after receiving an email from him. We hopped on the phone and after going through the numbers, he advised that I should actually wait a little longer to get the most value out of my refinance. His honesty made me trust him even more. Although I regret not refinancing when he initially reached out, I am now anxiously waiting for his next email to evaluate my situation again. 
  • If you’re interested in setting up a similar email campaign, we can help. At Lift Local, we run full service marketing for mortgage brokers. We create automated email campaigns, so anytime a past client wants to refinance or needs to get pre-approved, they know you are only a click away. We’ll create all the content, brand it with your information and send alerts when a client clicks on the email. All you have to do is get on the phone when a client opts in.

Tip #3:  Make sure you are being found online 

  • Have you ever checked where your business shows up when you search “mortgage lender near me”? If you aren’t ranking on the first page, odds are you aren’t receiving as many calls as you could. In fact, according to a recent study, only 25% of users bother viewing the second page of search results.
  • There are lots of things you can do to help build your online brand, and one of the most important is a well built Google My Business profile. Your GMB should include photos of your office, up to date contact info, office hours and product offerings and multiple reviews from satisfied customers. After someone does find you online, the first thing they are likely to do is check out your reviews. Businesses with consistently high reviews are 3x more likely to generate new business than others. If you are curious about how strong your online presence is, check out our free SEO audit tool. It helps you understand where you are lacking and what you can do to improve your local SEO.

Tip #4:  Have an active social media presence 

  • More often than not, if a potential client is browsing your website, they will likely click on your Facebook or Instagram profile to learn more about you and your business. In fact, 54% of consumers say they use social media when making a purchasing decision. Your social profiles should be active and up to date with photos, correct business info, relevant articles and industry updates. 
  • One service we offer here at Lift Local is social media management. We’ll create content based on your industry and consistently post for you. We even boost a monthly post to your target audience, which helps to build your reputation and engage followers.

Marketing for Mortgage Brokers 

The good news is there are lots of options for brokers to get their names out there and build their brand during this crazy time. Even better news is that everything we have shared to this point, we can do for you! At Lift Local, we specialize in helping mortgage brokers get found online and generate warm leads. We want you to succeed during this crazy time, and if you haven’t started marketing yourself yet, the best time to start is now! Click below to schedule a call with one of our marketing experts and let us come up with a great marketing plan for you.