5 Free Mortgage Broker Marketing Strategies to Increase Clientele

wemloMortgage broker business, wemlo

Mortgage broker marketing strategies are usually not at the top of the list when conversations come up between loan originators. What we typically like to discuss is the number of loans processed and how quickly we are able to get clients approved.

 

But without clients or a steady referral base, how is it possible to join the conversation and discuss loan closings and mortgage news?

 

In order to scale your mortgage brokerage business, you need a strategy. And these 5 free strategies are effective for MLOs of all levels.

 

Get your number out there

The Pew Research Center says that 77 percent of U.S. adults have smartphones and it shows. We’re all head down in our phones throughout the day and it’s not always doing what people assume.

 

We’re not always on Facebook. Some of us are closing loans through our smartphones.

 

When you have a face-to-face with a client, chances are they’ll be checking their cell phone at some point. And when they do, jump on the chance to get your number into their phone.

 

This is one of the simplest mortgage broker marketing strategies and can be done by quickly asking for the client’s number and then texting them your information.

 

Gather email addresses and create a newsletter

Gather the email address of every client or potential client you have. This should be simple considering you’ll need their email address to send and receive documents.

 

But when the transaction is over and the loan is closed, don’t discard that address. Keep it to use as one of your mortgage broker marketing strategies.

 

Past clients or lost prospects may not need your help at the moment, but if you keep this email address and add them to your newsletter list, they may need you in the future.

 

By keeping an email list and sending out regular newsletters, you remain top-of-mind to the person and they will think of you when they need a mortgage loan originator in the future—or if a friend or family member needs one.

           

Google My Business

Google is king. And if you can get your name on Google’s radar and attain some reviews, your chances of being found greatly increase.

 

By using Google My Business, you will be taking advantage of one of the greatest mortgage broker marketing strategies available. When the next “mortgage loan originator in my area” search comes up, your name could populate.

 

Social media

The life of an MLO is busy, but one of the most effective mortgage broker marketing strategies is utilizing social media. Where else can you reach close to 3.5 billion people at no cost?

 

If you’re unsure of where to begin, here are 3 quick tips:

 

  Use the same handle across all platforms to make yourself easy to find

  The number one form of content is video

  Number two is infographics

 

Form partnerships

You meet and communicate with people every day. Take a moment to tell them what you do and hear what they do. And try not to assume that someone who isn’t in your field can’t help. After all, you’re an MLO and there are over 5 million homes sold each year in the U.S.  

 

So what are you waiting for? Get out there, find some clients, use Wemlo’s automation tools to close loans quickly, and satisfy some customers.