There are tens of thousands of licensed mortgage loan officers, brokers and companies throughout the United States, giving potential homebuyers and homeowners countless options for their mortgage needs. Because of the high number of mortgage professionals, it is crucial to implement strategic marketing initiatives to help your mortgage brokerage business stand out from the crowd. Fortunately, strong marketing does not require a business degree or a costly consultant. Instead, you can use simple tools and technology to help spread the word about your mortgage brokerage services. Here are five tips on where to market your business and how to do so effectively.
1. Highlight your broker bond
Anyone working in the mortgage business as a broker in California is required to have a state license and meet requirements laid out by the National Mortgage Licensing System (NMLS). In addition to these mandates, a mortgage broker bond is also required. A valid mortgage broker bond helps protect your clients by guaranteeing you will follow the rules of your state. Marketing your bond by adding it to advertising materials, your website and other online mediums is a great way to highlight you are operating in-line with state and national regulations.
2. Boost your online reviews
Another smart way to easily market your mortgage broker business is to familiarize yourself with online review sites. Several outlets exist where customers can add positive – and negative – details about their experience with your broker services. These entries can be a valuable tool in growing your business.
Ask customers to leave a review on one or more sites after they have had a great experience with your business, and be sure to follow up with any less than positive reviews from previous customers. You can add review site links to your website, and even pull client testimonials from the sites to share with prospects and current clients over time.
3. Use Google My Business
Google is one of the most powerful technology tools for both individual consumers and small businesses. As a mortgage broker, you can and should use Google My Business to help market to the masses. Through this free online tool, you simply sign up online or through a mobile app, and secure your business listing. The platform allows mortgage brokers and other businesses to update their listing, engage with clients and prospects, and respond to online reviews through a mobile device or a laptop. Being present in search results is one surefire way to garner more attention as a mortgage broker.
4. Tap into social media
Millions of people are on social media several times throughout a day, and smart businesses are using the power of social platforms to market their services and products. Social media marketing on sites like Facebook, Twitter and GooglePlus allows mortgage brokers to share educational material, market updates, promotional offers and contact information anytime, anywhere. Many social media sites also offer paid marketing ads that can be created in a matter of minutes but don’t put too much pressure on the budget. Creating a buzz around your mortgage broker business through social media ads and posts is beneficial in creating a passive but effective marketing strategy.
5. Register with business directories
One of the most valuable advantages of living in a highly connected world is the availability of business tools and resources online. Countless paid and free business directories exist on the internet, giving your mortgage brokerage business as much potential visibility as the next. Consider adding your business information to directories like the Better Business Bureau, local networking groups or business professional organizations, or alumni association networks. One or more of these online directories can put your name in front of potential clients who would otherwise not know about your business.
Taking hold of your marketing strategies is crucial to ongoing success as a mortgage broker. Any combination of the options listed above can help your business gain visibility among homeowners and home buyers in your area, and they boost your credibility for the long term.
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