The number one issue facing loan officers today is not having enough qualified prospects. Every loan officer would like to have more high-quality prospects, but most either don't have the time, or just do not have the expertise!
In any given industry, there are a myriad of potential lead sources that can be used to supply your business with highly-qualified sales leads. Some are very simple and inexpensive to set-up, others are more involved. Some will give you a trickle of leads, others will produce a flood.
In this article we’ll cover the best practices for lead generation that take the least amount of effort and no money. You can choose which ones that works best with your style of marketing.
Defining your target market is critical if you plan on any measure of success in your mortgage business. A solid foundation for your business requires that one of the first things - if not THE first thing you need to do is to - DEFINE YOUR TARGET MARKET! In laymen's terms, that means you need to figure out who your typical customer is, and design your marketing to reach those people. If you fail to do so, you're marketing efforts will be like tumbleweeds - rolling around aimlessly in whatever direction the wind blows them.
Whether your target market is homeowners who are looking to refinance their property or a new loan borrower who is looking to purchase a home, online marketing is one of the most effective ways of marketing. There are several strategies that big mortgage companies use to market their business online, most of which are very expensive considering the amount of competition in the mortgage industry online.
But the good...