Mortgage Marketing Tips: 3 Ways to Gain More Clients as the Refi Boom Closes

 It’s fair to say that it’s very likely we will not see mortgage rates like those in 2012-2013 for a very, very long time, and if you want to prosper in the mortgage industry you have to employ strategies to prospect for clients. While refinancing still may make sense for some, purchase business is by far the majority of your closings. Here are a few reminders on increasing your leads and origination business despite the change in the mortgage landscape.

Tip 1: Build Relationships with Realtors

While many realtors do have in-house lenders, it isn’t mandatory to refer all of the prospective buyers to them. In fact, the realtors often present their buyers with three choices. Your goal should be to become one of these choices, which will require some work on your end.

There are many ways to connect with a realtor, but the quickest way is to frequent open houses. However, just showing up won’t be enough – you have to provide value. One way you can do this is by providing mortgage breakdowns for the house in question in the form of branded flyers. Contrary to your initial instinct, though, these flyers won’t be branded with your company logo, you’ll brand it for the realtor and their company. Still include your contact information at the bottom of the flyer for those who are interested, but the focus should be on the realtor. Make them look good at the open house and they’ll more than likely want to help you out.

Tip 2: Provide Educational Information for First Time Home Buyers

Buying a house for the first time is not just a purchase, it’s a life milestone. Seeing how important it is, anyone thinking about taking that step will most likely be doing some research. Now most homebuyers are novices at best when it comes to understanding mortgages, so here is your opportunity to act as not just a broker or lender, but a resource. When the time comes and they are ready to buy, they’ll most likely look to you for their mortgage needs as you’ve already earned their trust.

Now there are multiple ways to become a resource, whether it is via a blog, an informative website, webinars, or even free live seminars. The important thing here is to establish trust and good faith in your brand.

Tip 3: Focus on Customer Service Throughout the Mortgage Process

One could make the argument that this is common sense, but during the refinance boom this didn’t necessarily have to be a focus as there were most likely tons of leads pouring in. With a lower volume of leads to choose from, you must always put your best foot forward. Couple the lower volume of leads with the fact that anyone can give your company a bad review online and you can start to see how customer service should take center stage in your approach to borrowers.

You know why you should focus on customer service, but how exactly would you improve it? We have one immediate solution that comes to mind: convenience. Most borrowers don’t go into the mortgage process expecting a quick and pleasant experience, but that doesn’t mean you can’t surprise them. If you remain on the cutting edge of mortgage technology and utilize the proper tools, you can expedite the lending process.  

While we have gone over a few areas in which you can reach more potential borrowers, we obviously haven’t covered everything. So do you have any additional ideas on reaching new borrowers? If so, feel free to share them below!

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