The mortgage industry is a highly competitive market and so requires many mortgage brokers to generate their own leads. Lead generation is the process of gaining substantial interest in your products and services to then turn into sales which is vital for business.

Using these 10 effective lead generation strategies for mortgage brokers will help you connect with more potential clients and win more business.

1.Create quality content 

Having a website filled with high-quality, useful and relevant content is a great way to drive traffic and gain leads. By answering the most commonly asked questions by the public about the mortgage industry and trends more people will look to your business for help.

You could also include more engaging content such as videos, images, infographics and checklists that may be easier for the user to digest.

2. Network

Networking is an extremely important way of finding new leads. Do some research to find out if there are any real estate networking events near you that you can attend. Make sure you carry several business cards to pass out to anyone you talk to.

A good source to target for leads are divorce lawyers. When couples divorce there are often some properties to handle, which is where your services will be appreciated. To network with these types of lawyers, it’d be worth joining your local Chamber of Commerce, or you could ask to speak about your products at family law events. 

3. Buy leads 

If your budget allows you could buy mortgage leads as a way to guarantee appropriate candidates. After providing the mortgage lead seller with information such as who it is you want to target, and paying a fee they’ll then send you a list of potential clients for you to contact.

A few things to consider before buying mortgage leads:

• Set a budget – know how much you’re willing to pay and choose a company that fits that budget.
• Quality over quantity – Don’t be fooled by getting more leads for less. You want to ensure you’re getting good quality leads that are more likely to lead to closure.
• Exclusive or non-exclusive – exclusive leads are more expensive but it means you’ll be the only broker with those leads. Non-exclusive leads are the cheaper option but they will be sold to several other mortgage brokers who the client may decide to go with instead.
• Check the return policy – if the leads the seller sells to you aren’t good check their refund policy to see if you can return them and get your money back.

4. Utilise social media

Social media is a great way to market yourself and gain new leads. Utilising Facebook, LinkedIn, Twitter and even Instagram will help you create an online presence and get your name and your business out there. With Facebook and LinkedIn adverts as well you can target specific people who you think would benefit from your posts.

They key to building a loyal following on social media is engagement. Engage with your customers, create useful, relevant content that they can interact with and learn what it is they need. Being consistent and posting regularly is also important as it’ll show your followers that you’re a reliable source of information.

5. Use MLS listings 

Using a multiple listing service (MLS) can be a great platform for generating new mortgage leads. As most buyers search and view properties online, MLS real estate databases can uncover potential leads and give you the opportunity to contact the sellers with information about your mortgage services.

6. Get published 

Getting published in local or online magazines can be a very powerful mortgage lead generation strategy. Not only will you be building brand awareness for your business, but it can also set you apart from your competition as many no longer consider print media as a viable source.  

Writing an article for a real estate magazine that helps and informs readers about mortgages will showcase your knowledge and skills, turning those readers into potential customers. Even just placing an advert for your business which includes details such as what products and services you have to offer can also result in new leads.

7. Optimise your website 

One of the best ways to get new leads is through search engine traffic. Search engine optimisation (SEO) is a vital thing for businesses to learn and implement in order to rank higher in the search results. The higher you rank the more likely people are to click on your business.

Conducting important keyword research and then creating informative, high-quality content around those keywords, answering common questions from the public will help in improving your SEO.

8. Ask for referrals 

If you’re just starting out as a mortgage broker, asking for referrals is one of the simplest ways of gaining leads. Asking friends, family and even previous co-workers is a great way to be introduced to new, potential clients. 

After gaining several new clients and having built a solid relationship with them, you could then ask them for referrals too. Offering a client referral scheme to both reward and incentivise referral customers.

9. Create a Google my business page 

Establishing a free Google My Business account is something that every business should consider. This account can help your SEO and ensure that your company appears in local Google search results when people search for a business or service near them. It also enables you to recieve reviews from customers to build your credibility.

Google My Business is a great way to get your company out there as a reputable, trustworthy business. You can add plenty of information such as contact details, address, opening times and your products and services so customers who click on it are more likely to turn from leads to sales.

10. Send mailers 

Promote your mortgage products by creating leaflets and mailers which you can then ask permission to leave in local real estate offices. This is a good chance to build a relationship with estate agents, letting them know how you can meet their needs and help their business. Once you’ve made good connections with the real estate agents they may recommend your services to their customers.

However, most estate agents will likely have mortgage lender partners that they trust. In which case, it’s important to diversify your referral sources and offer something new and innovative.

To make the most of your leads it’s important to learn how to manage them by introducing a Customer Relations Management System (CRM). Read our blog to find out how some of our clients have benefited from our bespoke CRM solutions.

Visit Lucid UX for more information on how we can provide software to automate and simplify your business needs.