There are many ways that many mortgage originators go about producing leads. They talk with realtors, builders, and even try buying leads. However, believe it or not, there are many mortgage originators out there who are able to get leads before they even get as far as their realtor.
The method such mortgage pros use is called direct mortgage marketing and the mortgage professionals using this method are working on a whole different plane than much of the rest of the industry. The best part is that it is exactly what it sounds like it is: simply marketing to consumers, prospects, and clients before they are even thinking of making a mortgage decision.
The pros that use this method were visionary in a way because they knew the direction of the market. If you are like many mortgage professionals, then you have noticed the saturation of the market by builders and agents that control the entire transaction from purchase all the way through the mortgage. This process freezes you, the mortgage originator, out of the entire process. It can be frustrating.
If you choose to market to consumers before they make a mortgage or real estate decision you are getting around this new market trend. You’re creating rapport, a bond, and putting yourself in the position of a trusted financial advisor with your contacts. Once you are able to pre-qualify them for a loan, you have completely eliminated any competition that may have been lingering out there before hand. Anyone would be out of their mind to suggest that your client start their mortgage process all over again with a new loan officer and a new company just because they made a decision to buy. After all, if you have a pre-qualified client, then you are ready to go and to close the loan quickly, right?
So how do you find the right mortgage direct marketing technique? There are a few things you can do to get potential clients so that they are thinking of you when they get ready to get their mortgage.
Here are just a few of the direct mortgage marketing techniques you may wan to consider.
User What You Have: You probably have a database of potential clients already. Market it hard all the time. Send out timely cards, reminders, and even informational articles to keep in touch. Make the information useful so that they do not feel you are pressuring or pestering them.
FSBO’s: For sale by owner homes offer a great market for you. Offer to help them sell their home by pre-qualifying their prospective buyers. This will get you in contact with the sellers who will likely be buying and also help you qualify people who are in the market enough to be looking at a home.
Write: By writing informative article and information for your prospects, you are giving them really valuable help. While not everyone you supply with information is going to work with you, it is a great way to get the lines of communication open with those who have not yet made a buying decision.
Market to Others: Try marketing your business to those who may know new buyers. Divorce attorneys and financial advisors are great contacts to make that can help you get in touch with buyers well in advance of their first home buying experience or their first mortgage decision. When that time comes, though, your name will be the first of which they think.
Marketing directly to the buyers before they make a decision can be very helpful to your mortgage business. What, though, about mortgage advertising to others with leads in real estate. By talking with a real estate agent, you can get a lot of business sent your way.
With the right system for partnering up with real estate agents, you can help turn home renters into buyers. In the mortgage industry, they call those easy to pick fruit or low hanging. Simply put, you need to be partnered up with a real estate agent or even a few real estate agents. Once you do that, you will see your business sore while the amount of leg work and phone time you have to log will go down. It is a good trade off that helps your business.
So find the right system for you and consumer direct mortgage marketing will be as easy as can be. No more being shut out by the contractors and builders. You will create your own database and your own series of leads.