Discover how the latest technology revolution could change the mortgage industry.
As a mortgage loan originator (MLO) or mortgage broker, you probably know the importance of networking and advertising to grow your business. After all, that’s how you get clients and a steady referral base. But between payroll and employee management and everything else that goes into building your business, marketing can fall to the bottom of the list.
But marketing doesn’t have to be a chore, nor does it have to be super time-consuming! These five (free) strategies can help MLOs or brokers of any level help scale your business.
1. Get your number out there
According to the Pew Research Center, 97% of Americans own a cellphone and 85% own a smartphone. This stat likely comes as no surprise —everywhere you turn there are people with their heads down, staring at their phones.
So when you have a face-to-face meeting with a client, don’t miss the opportunity 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. (Tip: If you don’t want to use your personal number for work, get a free phone number from Google Voice.)
2. Collect email addresses and create a newsletter
Ask for 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 ask if you can add them to your mailing list as well. This allows you to keep in touch with them, offer useful information, and be top of mind the next time they (or a friend) need mortgage services.
Just be sure you always get permission to add them to your mailing list and you follow all of the CAN-SPAM Act requirements. Speaking of newsletters, want to stay up-to-date on all things wemlo? Sign up for the wemlo weekly here and get mortgage industry news and business tips delivered straight to your inbox.
3. Set up Google My Business
If you can get your name on Google’s radar with some positive reviews, your chances of being found by prospective clients greatly increase.
Use Google My Business to take advantage of one of the greatest mortgage broker marketing strategies available. It’s a free business profile so that prospective clients can see information like your phone number, website, photos, logo, and more. When the next “mortgage loan originator in my area” search comes up, your name could populate.
4.Use 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 more than 3.6 billion peopleat no cost?
If you’re unsure of where to begin, here are four quick tips:
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Use the same handle (username) across all platforms to make yourself easy to find
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Fill out the profile completely and don’t forget to include your NMLS number and the NMLS number of your company somewhere in your profile
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Set aside a few minutes per day to post and check on your social media profiles
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Mix up your content types: post videos, infographics, and both shorter and longer articles
Check out these blog posts for more tips on using Twitter, Facebook, and LinkedIn.
5. Talk to people
From the grocery store to the airport, we meet and interact with people every day. Next time someone strikes up a conversation with you, take a moment to tell them what you do and find out what they do. Try not to assume that someone who isn’t in your field can’t help. After all, you’re an MLO and there have been more than5 million homes sold each year in the U.S. since 2015!
What marketing strategies have you found to be helpful? Share them in the comments below!
