By Ken Millbank
Many mortgage lenders have exceptional sales organizations but struggle to generate leads consistently month-over-month. Sales teams are emotional, reactive, and impatient – and often clash with marketing organizations that need to be analytical, proactive, and patient.
Homebuyers are looking for information on the mortgage process and loan programs. You can meet them where they are online to generate leads and nurture them into satisfied customers.
1. Offer a free consultation
Offering a free mortgage consultation is a great way to find solutions for mortgage leads and position yourself as an expert. By providing valuable information and answering questions, you can build trust with potential clients and encourage them to work with you. Additionally, this approach can help you stand out from competitors and establish your brand as a leader in the industry.
Using a tool like Sprout Social can make it easy to manage your social media campaigns and generate more mortgage leads. This software includes features that will help you get new content ideas, optimize every post for engagement, and monitor your performance. Plus, it can connect with more social media platforms than any other marketing tool.
When it comes to generating mortgage leads, quality is more important than quantity. It can be challenging to find mortgage leads with high intent that convert at a profitable rate. Fortunately, there are proven systems and technology available to identify the 25% or so of leads that are worth your time.
Another off-the-beaten-path strategy is to build business partnerships with real estate agents and other professionals who work with homeowners. They know their clients’ finances and can often recommend a mortgage broker to ease the process of buying a home. In addition, some lenders offer a special program for first-time homebuyers who partner with them to provide mortgage loans.
2. Ask for referrals
Many mortgage lenders rely on referrals to sustain their business. This is because their clients are likely to be in a life-changing financial situation that requires an expert mortgage advisor to navigate them through it.
Reach out to real estate agents and financial advisers in your community and ask for their business referrals, especially if they know of anyone who might benefit from the mortgage services you offer. They’ll likely be happy to refer their clientele to you because it will help them close more deals and earn more commissions.
You can also generate mortgage leads by partnering with a marketing agency that specializes in lead generation. The agency will provide you with a database of qualified leads and take care of all other aspects of generating mortgage leads, such as website development, digital advertising, conversion funnels, and more.
A good mortgage marketing agency will use the latest technology to create engaging and relevant content that resonates with prospective borrowers. They will understand that today’s homebuyers receive content from a wide variety of sources, including YouTube, Facebook, Instagram, TikTok, and other social media platforms. Progressive or multi-step web (lead) forms that quickly ask borrowers detailed questions about their mortgage needs and objectives are also great mortgage marketing tools to generate leads. The information you obtain will give you valuable insights into their current financial status and goals, which will allow you to tailor your marketing messaging and offers to their specific circumstances.
3. Offer a free home inspection
Mortgage leads are essential for mortgage loan officers and real estate agents to have a steady flow of business. They can be generated through online advertising, direct mail, telemarketing, or by partnering with a lead generation company.
When it comes to marketing your mortgage business, the goal is to generate quality leads that will convert into clients and referrals. To do this, it’s important to differentiate yourself from competitors and meet homebuyers where they are online. This includes developing a website that showcases your expertise and provides relevant information. It’s also important to create engaging content that answers common questions about the mortgage process and available loan programs. This content can be delivered in a variety of ways, including infographics, checklists, videos, and images.
Lastly, it’s important to invest in mortgage marketing technology to help you stay organized and on top of your leads. For example, a customer relationship management (CRM) solution can help you keep track of mortgage leads and follow-up with them to prevent them from falling through the cracks. Some CRMs offer a full suite of digital communication and lead management capabilities, such as email and SMS marketing, landing page creation, and analytics. Some mortgage loan officer CRM solutions also offer prescreen and mortgage inquiry triggers, acquisition tools, and propensity models to help you close more deals.
4. Offer a free mortgage calculator
Mortgage leads are a key component to the success of a loan officer or mortgage broker. They can be generated through online advertising, direct mail, telemarketing, and partnering with a lead generation company.
The best mortgage leads are those that come from people who know the homebuying process and understand their finances. Partnering with professionals who work closely with homebuyers, such as real estate agents or financial advisers, is an ideal way to generate mortgage leads. Providing educational seminars or classes on topics like how to repair credit and buy your first home is another great strategy.
Many prospective borrowers start their home search on Google, so online advertising is an effective way to reach them. Online ad platforms allow you to target specific locations, behaviors, and demographics, ensuring that your ads are seen by the right people.
Once you have a lead’s contact information, it is important to stay in touch with them over time. This can be difficult to do manually, so consider using a customer relationship management system to automate your follow-ups and manage the mortgage lead nurture process.
