This is part 3 of a 5-part series aimed at helping mortgage brokers develop a marketing strategy that is both effective and manageable. Be sure to check back or subscribe to our blog for more tips.
It's important to realize that in order to create an effective marketing initiative, it's not necessary to be a pro in every aspect, but rather be able to incorporate a few different tactics done very well. While we are big fans of the power of social media for generating new leads, it's important not to overlook good old-fashioned in-person networking.
Making connections in person helps other real estate professionals, as well as a variety of other prospects, to "put a face with a name" and think of you specifically when they think "mortgage broker." Real world connections and relationships can often feel more genuine than those formed through a computer screen and keyboard, making in-person networking an especially powerful way to grow your pipeline.
Here are a few of our favorite tips for using in-person networking to market your mortgage brokerage business:
Join Realtor Associations
Realtor associations can be a treasure trove of new leads. Not only do these associations connect you with other mortgage brokers, but they also help you build relationships with real estate agents, home appraisers, title agents, home inspectors, and other real estate professionals, all of whom speak to many customers each day that may be looking for financing on their purchase or refinance transaction.
The National Association of Realtors is open to mortgage brokers and hosts national and state-level conferences, as well as meetings and retreats. Most states and major cities also have their own Realtor associations. While joining Realtor associations gives you another credential to add to your website and LinkedIn profile, the true value is in attending events and networking face to face.
Join Meet-Up Groups in Your City
Meetup.com groups are an informal and low pressure way to network in person. It's a good idea to join both real estate-specific Meetup groups, as well as groups dedicated to other interests. You never know when your new friend from your rock climbing Meetup or book club needs to get a loan for an investment or commercial property endeavor.
Take Advantage of Professional Development Opportunities
Professional development opportunities are a great way to keep your skill set fresh and current, while also leading to networking opportunities. Seminars, classes, and conferences centered around both mortgage-industry specific topics (like keeping up-to-date on federal and state regulations or breaking into commercial lending from a residential background) to more general professional development (leadership skills, public speaking, etc.) will help you gain more professional confidence and give you valuable contacts at the same time.
Connect on a Human Level First
When attending networking events, it's a good idea to take a more relaxed and low-key approach. No one wants to feel like they're being blatantly sold or pressured to sign up for your services. Instead of leading with shop talk or a sales pitch about your mortgage broker business, aim to connect with each person you talk to on a genuine human level. Ask questions and practice good listening techniques. Even something as subtle as asking for a business card, rather than handing them yours, signals to the people you are networking with that you are interested in them as a person and fellow professional, instead of coming across as someone with an agenda.
This approach tends to build trust and rapport in a way that is much more likely to pay off in strong leads, and as an added bonus you will have a chance to truly get to know and form friendships with interesting individuals.
In-person networking can be a very effective marketing technique for your mortgage business, while also being personally gratifying. For more marketing strategies that can help you drive revenue and growth, be sure to subscribe to our blog. If you're looking for a way to reach new prospects, become an Approved Broker with Velocity. Click below to get started, or call us today at 866-505-FUND (3863) to learn more.