Mortgage Marketing 101: A Crash Course In Mortgage Loan Marketing

There are a zillion ways to do mortgage marketing. Obviously we cannot cover even a small percentage of them here. But what we will cover is a few basic mortgage marketing advertising tips that can help you succeed in your mortgage marketing.

Mortgage Marketing - Lesson #1

All your marketing should be held accountable for itself. This means that all your mortgage marketing advertising should be bringing in more money than it is costing you. And you find this out by tracking all your advertising. The easiest way to track is to ask people when they call or come in. "Where did you hear about us?"

If you do a lot of different mortgage marketing advertising, then you need to add tracking numbers to your ads. For example, add coupons to your ads that people can tear out and bring in for a free gift. The coupon should have a tracking number on it so you can tell where the customer got the coupon.

Mortgage Marketing - Lesson #2

You should focus on getting the prospect's contact information in all your advertising. Get them to give you their name, address, phone, and email. This will allow you to follow up with them. Build up your database as fast as possible. Your database is your greatest and most valuable business asset if used properly.

Mortgage Marketing - Lesson #3

Stay in constant communication with your database. At least once a month, they should hear from you, about you, or read about you. The best way to do this is newsletter mortgage marketing. By using this great tool, you can have something in their hands every month. Newsletter mortgage marketing is a must for every loan officer. If you do no other mortgage loan marketing, you must do this. And you must do it every month.

The trick is to outsource the newsletter to a newsletter mortgage marketing company. These companies will write, design, print, and mail your newsletter for you to whomever you want. All you have to do is give them a photo of yourself and pay them every month. They do the rest.

To get the names of some great newsletter mortgage-marketing companies, visit our recomendations.
By just using newsletter mortgage marketing I have seen some of our coaching clients go from zero referrals a month to 2-3 referrals a month. Just by using a simple newsletter.

Mortgage Marketing - Lesson #4

Ask everyone you know for referrals. Contact all your friends, relatives, past customers, and keep asking for referrals. You won't get unless you ask. We have a great program that can help you generate more referrals than you can handle. It's called Referrals on Demand and you can get more info at http://www.mortgagebrokertraining.com/referrals.html

Referrals are the easiest loans to get, and close. You also make more money on a referral loan than a regular loan. And they treat you with more respect. Once you build up your database to a few hundred, you should focus more on them, and on generating referrals. It is the cheapest form of mortgage loan marketing out there today.

7 Mortgage Marketing Tips for Loan Officers

It is my intention that these marketing tips will help you avoid common mistakes made by the majority of loan officers. Heed this advice!

Mortgage Marketing Tip #1
Make your advertising and print media more effective by having a headline on everything: letters, greeting cards, ads, everything.

Headlines are what get the reader. They make them want to read more. They tell the reader what benefit he/she will get from reading more. And that's exactly what you want them to do.

Make the headline powerful and include a benefit.

Examples:

3 things you can do today to improve your credit
Here's something you might enjoy…
I started thinking of you when I read this article…

Make sure to include a headline in all your media and it will increase your results.

Mortgage Marketing Tip #2
When you do something for a client, brag about it.

What I mean is, if you accomplish something, make it a big deal.'

"Mr. Hity, I was holding my breath for a while, and that collection on your credit report made it real close, but I fought for you and got the lender to approve your loan!"

That's a lot better than saying, "Hi, your loan was approved today. Congrats."

Make yourself out to be the valuable professional you are. Make sure that your clients know exactly what you do for them.

Mortgage Marketing Tip #3

Write thank you notes to people everyday.

This one mortgage marketing tool can make you so much money your head will spin. Everyone loves to be appreciated and acknowledged. Being nice and having manners are a thing of the past. But when you take the time to thank someone, you connect to them on deeper level.

Get yourself some thank you cards from the stationery store and thank people who did something for you today. It could be for anything,

Thank your mailman for bringing the mail up to the office
Thank the underwriter for a speedy decision
Thank your client for calling to say they would be late
Thank the realtor for the referral.

These cards can make someone's day. And you really stand out from the crowd as a caring mortgage professional when you use them.

Mortgage Marketing Tip #4

If someone answers your phone for you, have him or her use the following line.,

"He/she is working with a client right now, let me see if he can take the call."

This does a couple things,

1. Makes you seem busy even if you are not. This shows the client that you are in demand and confirms that he made a good decision by choosing you.
2. Allows you to not talk to people you do not want to talk to
3. Allows you to say to the caller, if you pick up, that they are important enough to you to interrupt an important client meeting.

This might not be a "traditional" mortgage-marketing tool, but it will make you more desirable. And while it will not make the phone ring more, when it does, you will get respect from those on the other end of the line.

Mortgage Marketing Tip #5

CANI

Constant and Never Ending Improvement
Do something everyday to improve your business. 1 small change everyday can make a huge difference in a couple months. Implement one mortgage marketing tool at least once a week. At least.

Over the course of a couple years, the results will be dramatic.

Just one small thing is enough. Examples are:
· Hanging a certificate of completion on the wall
· Hanging a testimonial on the wall
· Adding a signature to your emails
· Adding a small consumer article to your website
· Subscribing to The Millionaire Loan Officer Newsletter at http://www.mortgagebrokertraining.com/newsletter.html
· Reading the FREE articles on mortgage broker marketing at The Mortgage Magic Marketing Newsletter

Mortgage Marketing Tip #6

Look at other businesses for great ideas to adapt to your business

Most innovations come from other businesses.

Like the drive thru window. Who knows who started it, but fast food places use it, banks use it, pharmacies use it, and even restaurants are experiencing success with it.

What new services do you use that make your life easier? Can you adapt these to your business? How about emailing potential customers the interest rate everyday if they request it? Or Providing a Post-Closing Kit with items clients will need when moving?

You can use the marketing tools from other businesses too. If you see a marketing piece that really gets your attention, think about how to adapt it and use it in your business.

Mortgage Marketing Tip #7

It doesn't matter how good a loan officer you are - if you suck at marketing, you will starve.

Knowing how to get clients is infinitely more important than any other knowledge you may attain.

Tony Robbins is not the best NLP trainer out there, but he is the richest because he knows how to market himself.

The Men-Mars, Women-Venus guy is not the best marriage counselor out there, but he sure made a killing in books, tapes, and seminars.

The best mortgage lending marketing tools are available at MortgageBrokerTraining.com's Mortgage Bookstore.

How much money you make has very little correlation to how much you know. Of course you must know the basics, but other than that, it makes very little difference at all.

He who markets best, makes the most money.

Become A Mortgage broker

Will Real Estate prices keep going up or will the bubble burst?

Who knows? Either way, real estate is a risky business. Tying up all that money and having very little liquidity can spell disaster for any investor.

In any hot market there are always ways to make money without taking any risk yourself.

Just look at Levi Strauss. He traveled west during the Gold Rush to make his fortune as a gold miner. But he found that it was harder than advertised. So instead he did the next best thing, he started selling to the miners. He sold them something they all needed - jeans! And he made his fortune without risk. In fact, many of the store owners in that area got rich selling to the people who had the "gold bug"

If you want to make money on the real estate boom, I suggest you sell to the people who have the "real estate bug". The people who want to get in on the bull market and make a killing. Sell them something they all need- money!

You can do it just like I do, become a mortgage broker.

Become a mortgage broker and you can easily make hundreds of thousands of dollars by helping other who want to get rich quick in real estate.

There is very little cost to get started and no risk. When you become a mortgage broker, you can still keep your day job and work part-time while making a full time income.

In many states you don’t even need a license to become a mortgage broker. You can get started today!

There is more demand for mortgage brokers today than ever in history. And demand will continue to grow. The U.S. population continues to grow. Everyone wants the American Dream of owning their own house. If you become a mortgage broker you can make that dream come true for your fellow Americans.

If you want the cards stacked in your favor you should really look a little closer at the trends that give more reasons to become a mortgage broker.

- The U.S. Population is growing exponentially.

- Americans are saving less then ever before - if someone wants to buy a house, they have to borrow money. They have no choice. They must use your service.

- As home prices go up, so do mortgage broker commissions. The fees are a percentage of the loan amount.

- More and more people are buying second homes and vacation properties.

- Over 65% of people getting a loan use a mortgage broker instead of a bank.

When you become a mortgage broker and work part-time you can work from home and keep your day job. If the market goes up - great!. If the market goes down, people will be selling their homes and investors will be buying. These investors will need loans from you to buy. You make money either way.

You could also be a real estate agent. But you'd have to drive people around all day. Becoming a mortgage broker means you can sit in your office while people come to see you. There is no need for you to go anywhere.

After you become a mortgage broker, life will never be the same.