Finding mortgage leads means thinking outside the
box (which our first article on this topic covered) and not forgetting to think
about the things inside the box too.
Marketing
within your own circle
This might appear silly but there are lenders who
still just provide their names and numbers to clients and other business
associates. If you are one of those and you happen to be popular within your
area, don’t ignore the importance of decent business cards. Business cards are as essential as the flyers
and brochures you use for advertising and explaining your loan products and
their features. When you meet people at functions or some other business
occasions and talk about the mortgage business, after you have demonstrated
your ideas and knowledge, leave your business card so that they have a
reference in case they need your expertise in the future (which might be just within
1-2 weeks after you’ve met them)
What about all the people you already know?
Maintain a list of people whom you regularly stay in touch with. You might be
meeting certain brokers on regular occasions. What if they are not aware of
your latest programs and/or the competitive rates you are planning for the near
future? Circulate your brochures carrying loan benefits on mortgages and the
programs that you have to offer among the people whom you meet frequently. You
never know from where a mortgage lead might generate.
Maintain a file of people to whom you regularly
send your business letters and loan prospects. Keep a breezy check on them.
Whenever you think of implementing a new program or want opinions while
thinking for one, check with the people who have shown good interest earlier on
the same lines.
What about the existing clients! Never fail to
check for reference with the clients whom you have already provided good and
satisfactory services. It won’t be like a big surprise, but when you get in
touch check with them, they might have some fine references to offer. No one
can recommend you better to their circles than them.
Real estate
agents, realtors, and homeowners
Real estate agent and realtors frequently come in
contact with people interested in mortgage loans. The more they are familiar
with the products you have to offer, higher are the possibilities of them
providing you with mortgage leads.
Widen your circle by adding more and more of these
professionals. Trace new ones through websites and classifieds. To the ones who
are in your vicinity, pay a personal visit or at least give them a call once in
a while. Explain them the incentives you have to offer in exchange of genuine
leads. Take care of the what’s-in-it-for-me factor.
Whenever you see one of those signboards ‘for sale
by owner’, make sure you contact these homeowners who are not interested in
realtors. They need good inquiries to identify good customers. So chances are
they might allow a professional lender to advertise next to their signboards;
one who can help prospective clients with loan programs.
These techniques have been tried and tested by
renowned lenders and investors who have started with small time businesses and
have graduated to their current status. No matter how less these suggestions
and ideas appeal to you, make sure you don’t leave any stone unturned to expand
your business.
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