Information on Mortgage Broker Leads Generation

Generating leads as a mortgage broker

Mortgage brokers, like real estate brokers, must generate leads to stay profitable. Unlike real estate agents, who rely primarily on sellers to obtain listings, mortgage brokers seek borrowers who are either purchasing property or refinancing property they already own. Lead generation for mortgage brokers can come from other real estate professionals, past clients, sphere of influence, open houses or marketing efforts.

Other Real Estate Professionals

Other real estate professionals help generate leads.

Attending the weekly sales meeting of local real estate brokerages to pitch any new loan programs or changes in the lending industry may help mortgage brokers generate leads. Make sure you have a brief and polished presentation as well as hand-outs such as flyers discussing sample rates and terms for real estate agents to convey to their clients. Fostering good relationships with active real estate agents provides a steady stream of new leads each month.

Past Clients and Sphere of Influence

Past clients can keep generating you leads.

Asking past clients and people in your sphere of influence for referrals to people they know who are seeking a new loan or a refinanced loan can boost profits. Repeat business from past clients can generate leads, as these clients constantly communicate with people they know about their working relationship with you. Stay in touch with past clients and your sphere of influence through monthly phone calls, birthday and anniversary cards, and monthly newsletters offering relevant information about the changing climate of the lending industry and how it impacts consumers. Additionally, send a card and a small gift certificate to a favorite restaurant as a thank-you gift for any past client who refers someone to you for a new loan.

Open Houses

Open houses can help mortgage brokers too.

Sometimes a mortgage broker may co-host an open house for a newly listed property to find mortgage loan leads. A real estate agent will greet the guests and offer a tour of the house, while the mortgage broker will offer loan programs to help facilitate the purchase. Regardless of whether a prospective buyer makes a purchase, the mortgage broker will have a list of potential leads for future transactions.

Traditional Marketing

Find mortgage customers through the mail.

Going door-to-door, cold-calling and direct mailing to a targeted geographical area will advertise your services with marketing techniques that mortgage brokers traditionally have used to generate leads. These methods work in lead generation if a mortgage broker invests persistent time and money over a period of months or years. Investigate mortgage lead generation companies online for a variety of marketing services available.

Website

Get online with your mortgage products.

A website about your mortgage brokerage can be a cost-effective marketing tool to generate leads. A mortgage calculator helps prospects find out how much of a loan they can afford. Testimonials from past clients and real estate professionals you have worked with add to your credibility and build respect. No pressure contact information on your site allows prospects to contact you for more information if they want to pursue a new or refinanced loan.

References

• Vanzan Inc.: Targeted Marketing
• Red Clay Media: Website Solutions
• Martin Worldwide: Mortgage Broker Lead Generation