Mortgage loan officers have busy schedules. They have several responsibilities, from building relationships with borrowers to attending house closings.
If you’re a loan officer, it’s easy to focus on this to the point of excluding mortgage marketing. But, local mortgage companies must use this marketing to expand their bottom line. Otherwise, you won’t have the funds to continue loaning.
There are several ways mortgage lenders can improve their marketing and increase their revenue. If you’re looking for strategies like these, you’re in luck! We’ll cover five of the best marketing methods in the guide below.
- Focus on a Niche
Local mortgage companies often deal with several kinds of clients. Each of these clients has varying interests, hobbies, and commitments that influence where they purchase a home.
If you’ve worked in the mortgage industry for a while, you’ve probably worked with several kinds of clients. Ask yourself, “Who do I enjoy working with the most?” or “What type of home buyers do I most often help?”
While you don’t need to focus on one niche, it helps to know who you’re best suited to work with.
- Local Mortgage Companies Need Referrals and Reviews
Mortgage lead generation relies significantly on referrals. Fortunately, referrals are often an easy way to market.
It’s simple to ask for referrals from past clients since you’ve already built a relationship with them. The first thing to do is ask clients for reviews.
Your mortgage company probably has a page for reviews on its website. If so, direct your clients to that page and request they leave a review of your services.
Before you do this, though, ensure your clients understand how much you appreciate their business. After all, clients help you just as much as you help them.
- Using Email Video Campaigns
Remember, your relationship with clients continues after they purchase a house. So, it’s essential to keep your services fresh in clients’ minds as they settle into their new homes.
Email video campaigns offer an excellent opportunity for this. These campaigns can help people get to know their new locale, thereby providing extra value for their lives.
For example, you could send videos detailing the best hiking destinations in town. You could also provide restaurant recommendations or other local information for clients.
- Market to Real Estate Agents
These days, most people purchase homes with the help of a real estate agent. So, try to build relationships with real estate agents in your area.
There are several ways to do this. One option is to use social media to engage with them online. Others may prefer to visit an open house and briefly introduce themselves to an agent.
- Accept More Loans
Local mortgage companies work hard to bring in new leads. However, what about cases where those leads have less-than-perfect credit scores?
Many mortgage companies turn these borrowers away. But, if you accepted those clients, you could prevent them from going to competitors.
A Creditxpert score makes this possibility more secure. This service helps improve clients’ credit scores through several means.
Implement These Strategies Today
These five strategies can help local mortgage companies expand their bottom line in the short-term and long term. So, don’t hesitate. Begin implementing these strategies as soon as possible!
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