Get Mortgage Clients

If you are just getting into the mortgage loan business and need to get some clients, there are many low cost ways to advertise. Your best bet might be to start out partnering with other businesses related to real estate so you can start getting some good referrals. With a good reputation for providing top quality service, your business will be thriving in no time.

Steps

Expanding Your Network with Co-Marketing

1. Choose a non-competing business. Co-marketing is an effective tool that allows you to network with businesses who may either be in the same industry as you or in a complementary industry. Make a list of professionals that you have a working relationship with now or would like to in the future. This could be real estate agents, bankers, or even title companies. While you need to have some common ground with the company you are approaching, you have to ensure that there is no conflict of interest involved.
   • For example, you would not want to work with a real estate agent who always sends his or her referrals to a relative in the mortgage loan business.
2. Schedule a meeting. Once you chose 2-3 professionals, set up a meeting with each to discuss the benefits of partnering up. The partnership will need to be beneficial to both parties. During the meeting discuss:
   • Strategy/Opportunity to buy leads online. You can buy addresses, phone numbers and email addresses from lead generation companies such as Hoovers or Avention.
   • Marketing Options (flyers, Internet ads, etc.)
   • Creation of product such as an ebook or newsletter (Optional)
   • Development of a written plan describing roles and responsibilities. For example, who will write direct mail letters, who will post videos on YouTube, who will implement the mobile marketing campaign, who will pay for costs, etc.
     
     
3. Begin the partnership. After you have chosen a professional to work with, make sure that you both know what is expected, such as agreeing to share customer leads with each other. Set-up weekly meetings to review progress and measure success.
   
   

Implementing an Online Lead Generation Campaign

1. Choose an advertising platform. There is a large number of companies that offer online marketing services at competitive rates. Ask for recommendations from real estate or other professionals in mortgage-related businesses and choose the one that suits your requirements and is affordable.
   • Google Adwords is one of the best web-based marketing services available today and it can help you generate Internet mortgage leads. You only pay when readers click on a link to your own Website.
2. Design your campaign. Depending on the platform you choose, you will need to design a video (Gold Media) or standard text copy (Adwords). Remember that you are creating the campaign for a mobile phone, so the space will be limited. For Adwords, the text can include your phone number. This option allows your potential customer to call you directly rather than filling out a form on your website.
   • This will cost you some money but advertising directed at web users has a large Return On Investment (ROI). If you are not confident in designing a campaign, you can hire a graphic designer and/or a copywriter.
3. Set a Budget and Go Live. Your budget will depend greatly on the type of results you want. A starting budget could be $25-100 per day depending upon how many people click on your Website. Remember to do keyword research first so that you can plan accordingly. Test various keywords on an Internet search and see what results you get.
   • Once your campaign is live, make sure to read the stats as this will help you generate the most mortgage leads once you know which factors worked the best. When you read the stats of people who clicked on your Website, make sure you check:
     • Time of day
     • Location of ad
     • Keyword

Using Social Media To Generate Mortgage Leads

1. Create a Profile on LinkedIn. Professionals in any field should have a well-maintained presence on LinkedIn. The profile needs to reflects your experience and general abilities and highlight your accomplishments. A great profile should include:
   • A professional headshot picture.
   • Portfolio/Samples of your work
   • A variety of ways to contact you ( Email, Social Networks, Website)
     
     
2. Add Contacts. Many experts recommend adding at least 500 contacts. You can add connections by importing your address book from Gmail, Yahoo or even Microsoft Outlook. It will give you a better opportunity to network in addition to catching up with old colleagues and associates.
3. Join 15 Groups. Once you have set-up your profile and connections, you want to add groups. This is a perfect strategy to combine with co-marketing as you can join up to 50 groups. There are thousands of groups on LinkedIn. By joining the groups, you can get more information on where to buy leads online. This is one of the fastest ways to create mortgage leads through a social network.
4. Set up accounts on other social websites. Other websites such as Facebook, Twitter, and Instagram have become instrumental tools for self-promotion and lead generation in recent years. Set up profiles on these websites that include your contact information, experience, and some eye-grabbing visuals. Be sure to actively pursue followers or likes and update these profiles regularly.

Hiring a Lead Generation Company

1. Choose a lead-generation Company. There are thousands of companies that sell leads but not every company is the right one for your business. When you are searching for a lead generation lead company, find out how they generate their leads.
   • For example, many lists are obtained from magazine subscriptions. You want names of people that subscribe to magazines related to real estate. You will also be able to define income level, age, zip codes, gender, level of education, etc. for the type of names you want to purchase.
2. Find an experienced company. Select a company that has been in business for at least 10 years, and has experience with mortgage-related clients. This will help ensure that you do not get scammed or receive poor mortgage leads. Interview at least three companies and read testimonials of past and current clients.
3. Request Samples. After you have decided which company you want to go with, request a sample of the leads that they can generate for you before you sign a contract. This is the best way to determine the quality of the lead. A good lead will have all the contact information and additional information about the lead such as credit status, income level, age, etc.

Generating Mortgage Leads Through Other Methods

1. Implement a direct mail campaign. This is one of the more traditional ways to generate mortgage leads using the names you have purchased. With a great sales letter or postcard, you should be able to get many leads to turn into mortgage clients.
   • In the letter or postcard, be sure to include how your services are better than the competition's. For example, mention that you have connections with numerous banks and other financing companies, offer a fast turnaround time, have many years of experience in the business, etc.
   • You can also test variations in your content to find out what wording works the best. Consider offering incentives if people refer potential clients to you.
2. Attend a conference or seminar. By attending various real estate and banking events where you can boost your network, you will get many chances to generate leads. Add at least 2 conferences or seminars to your calendar each year. You will not only get the training you need but the relationships you can build will outweigh the cost.
3. Create a series of videos. Creating videos about your business and posting them on various blogs and video sites such as YouTube is the newest trend. Millions of videos are watched daily. You can hire a video production company to help you. You can also shoot these videos with your smartphone. Make sure that the videos are professional looking.

Tips

• Place ads about your business in the local newspapers or a classified ads site online.
• Post updates on social media to engage with your followers.
• Attend networking events weekly.
• Hire an Internet marketing consultant to ensure you have the best strategies.
• Make sure to follow up with your leads multiple times.
• Use software such as Intuit or SalesForce to manage sales leads.

Warnings

• Look out for leads who seem very undecided as they often are not worth your time. Also, make sure that the leads you purchased are not being resold to others. This is common with many lead generation companies.
• You cannot use the leads you purchase more than once without paying. The lead generation company will include names and addresses to check for this.
• Make sure to comply with any copyright laws when you are marketing online.
• Do not hire a company that has a bad rating with the Better Business Bureau.

References

See also

• Prepare for a Banking Job
• Generate Promising Leads as a Loan Officer
• Become an Equity Analyst
• Become a Mortgage Loan Officer
• Become a Broker
• Prepare for IBPS Written Exam
• Find Legitimate Banking Jobs in Nigeria
• Interview a Client for an Engineering Project
• Become a Junior Stockbroker
• Start a Consulting Company

Read more ...