Considering the current state of the economy, mortgage brokers have to work harder than ever before to earn a living. Unlike during housing booms when buyers are flooding the market, these tighter economic times have caused mortgage brokers to have to get more creative to compete for the limited number of buyers in the market for a new home. These mortgage marketing ideas will help you to edge out the competition for new clients.
Create a Useful Website
There are many free platforms that you can use easily to build a simple website to promote yourself and your business here are a few:
All mortgage brokers should understand the power of the Internet. Unlike years ago when prospective homeowners thumbed through a telephone book or visited banks in person looking for a lender, these days those in need of a mortgage turn to the Internet to find a lender. This means, if you do not already have an...
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...