Posts Tagged ‘Marketing’
Marketing to the Affluent
August 14th, 2010Mortgage Broker Strategies 101: Back to Basics
October 29th, 2009Mortgage Broker strategies are important as you very well know, but have you considered all the marketing you can do on a day to day basis. This is not the type of marketing where you put an ad in the paper or hire a call center. These are the little things you can do to make sure that your mortgage business continues to grow. These are the things that cost very little but are huge in terms of keeping business as well as high customer satisfaction.
Fist Tip
Whether you are sending out a letter, a card, or even an ad for the paper, make sure you use effective writing techniques. First among these is to make sure that you have a headline on everything you do. Whether people realize it or not, the headline grabs the reader. Once they see a headline, they are way more likely to read the rest of the piece of text. Always make sure that the headline has a benefit in it so that your client has a reason to keep reading.
Second Tip
Keep writing! For many people, the thank you note has raised their income by large percentages. Every person, customer or friend, loves to show appreciation. They like to know that you are happy for them and that you realize what they have done for you. When you thank them you are connecting with them and helping to cement a future relationship.
If you make it a point to write thank you notes every day, you can really help your return business. Thank people who didn’t even work with you on a mortgage. You can thank those who did something for you: your mechanic, mailman, or even the teacher your kid has at school. Whatever you do, just make sure you send those thank you notes. It will definitely pay off for you.
Third Tip
Be a braggart. When you do something for a client, make sure you tell them. You want to make yourself valuable to the client for a couple of reasons: so that he or she understands why you are getting paid, and so that he or she would refer you to someone else in the future. This can be very valuable down the road. Even though bragging seems harsh normally, so be humble and just point out the things you accomplished because in business you want to be valued.
Fourth Tip
This is a strange one for many, but make sure that if you have a phone person, that he or she always suggests that you are with a client. If he or she says “I’m sorry but he is working with a customer right now, give me one second to see if he can take a call right now”.
This allows you to look busy and confirms that you are worth the effort to work with. It also gives you an out if you don’t want to talk with a certain person for one reason or another.
Last Tip
Though there is an unlimited amount of advice that could be given about mortgage marketing techniques, there are some that are certainly more important. One of those is this: never stop marketing. Even if you are the best mortgage broker that ever walked the planet, if you cannot market then it won’t matter. Nobody will know you are great, you will have no business to close, and you will not make any money.
Above everything else, mortgage is about getting clients in your door. The rest is just paperwork and learning the ropes of the loan biz. With that in mind, there is one other thing you should consider:
Form realtor partnerships whenever you can. If you can find a program that will help you hook up with realtors the right way, you should jump on it. By giving yourself that extra advantage, you are enabling your business to grow without making yourself do more work.
With a partnership with the right realtor, you may find yourself with a large number of renters turned buyers on your desk each day. What a great way to run the mortgage business huh?
So no matter what you do, implement a new marketing tip each day. Try to send out thank you notes, thank people in person, look for times to brag about your self, and even try to keep marketing. Above all, find ways to form those partnerships. Getting hooked up with a realtor and with changing renters into buyers, you will grow your business faster than you ever imagined.
By: Shane Brooks
The tasks of a mortgage broker
September 18th, 2009The modern mortgage markets are competitive as compared to the many years gone, which is why the lenders realize they need to work with an intermediary to make more property sales.
This is the mortgage broker who acts on behalf of the lender and his work has become very dependable and popular today.
In many countries, there is law governing the dealings of the brokers to ensure that they do not deceive the consumer who may lack the right knowledge.
Though the willing buyers of homes are advised to gather as much information as it is necessary to locate the suitable mortgage terms, this is not easy and also requires lots of time commitment.
A mortgage broker is the best expert to use to get to the bottom of lenders terms and conditions that they demand from their property potential clients.
Some of these brokers work just like a salesperson does when you approach them with your specific problem.
They do not assume the responsibility of educating their customer at hand the merits and demerits of choosing this mortgage while leaving that, just engaging you with the lenders they work with.
Whatever you and that lender agree on does not bother them anymore and they may not even contact you again not unless you did not pay the agreed fee.
The other type of mortgage broker is one who takes time to take prospective homebuyers through all the initial necessary steps before they can meet the lender.
They are so generous with the kind of advice that anyone at this stage would require to understand and have their specific circumstances considered separately and integrated in the lender’s usual home buying procedures.
With these, it becomes easier to file in court cases of deception especially if it is clear that the broker infringed on any section of the law governing his functions.
The general duty of a broker involves the marketing role to catch the attention of the probable customers of the lender’s property.
Similar to any other business, mortgage selling involves getting close to the customers with quite attractive terms in the package and brokers do and I think the question of how depends on the lenders they work on behalf of.
Secondly, they are careful listeners of the borrower’s current circumstances, reason being that it is their duty to get them a suitable mortgage they would otherwise be interested in.
It may call for an appraisal of their credit records by means of the credit report and the amount they could afford to pay proven by their income generation documents.
After they are convinced that the borrower is eligible in relation to the lenders scope of operations, the next stage is presentations of the fit mortgage product and making the commendation.
This would indicate that the borrower is almost done with the mortgage broker and applying for the lender’s pre-approval.
Additionally, the job would still be pending if the broker does not gather all the necessary documents from the buyer like those on incomes, complete a lender application form, give legal disclosure details and submit all these materials to the lenders.
Use this information for reading purposes.
By: Esteri Maina
