When shopping for a mortgage, most mortgage leads, are not only looking for the best mortgage rate but they are looking for a dependable mortgage professional that has the experience and knowledge to take care of them. By simply placing an ad stating your name and phone number with your catchy logo will not grab the attention of mortgage leads shopping for a mortgage.
The following are the top 5 Don’ts of Mortgage Lead Generation.
1. Talking About Yourself –
Mortgage shoppers do not care about you. They want what is best for them and could care less about how many programs you have or how many lenders you have.
2. Advertising Interest Rates –
Advertising mortgage interest rates will generate mortgage rate shoppers that waste your time unless you give them a loan for free.
3. Buying Leads –
Purchasing mortgage leads is a waste of money. Not only will you be competing with every mortgage broker in town, but again you will have to do the deal for free to get the business.
4. Cold Calling –
Not only does cold calling suck, it will also burn you out. Who wants to stay at the office every weekday until 9 P.M. and Saturday mornings to get hung up on hundreds of times?
5. Donuts For Realtors –
Think about it, how many lender reps come into your office? Do you give them your business because they gave you a cell phone holder?
By avoiding these 5 mistakes you will save yourself hundreds of dollars and your precious time. Some of the top 5 Don’ts may have worked in the past, but we are in a new era of marketing as the mortgage industry continues to change.
The following are the top 5 Do’s of Mortgage Lead Generation.
1. Give Away Information –
Depending on your niche, give your potential mortgage clients information that they can use instead of an advertisement of your business.
2. Join A Networking Group –
Networking groups are a good source of leads because they a referred to you by a group member that the mortgage consumer trust.
3. Seminars –
Offer a seminar based on one or more of your niches to educate prospective mortgage leads. If you conduct the seminar well your potential clients will remember you when the time comes to refinance or purchase a home.
4. Business Cards –
Hand out your business card every where you go. Give them to the bartender, the gas station attendant, you never know who they know that needs to refinance or is looking to purchase a home.
5. Build An Online Presence –
This is by far the best way to generate a mortgage lead. Consumers have been using the internet to find the information they want for years and the number of online mortgage shoppers will only increase over time.
These 5 Mortgage Lead Generation tips will surely have you generating more leads and closed loans in the years to come.