Leads are essential if you’re in the mortgage business. Every mortgage lead is a possible customer for a mortgage loan. Mortgage professionals everywhere rely on mortgage leads that they can convert into borrowers. These leads come from a process called lead generation. There are several different methods to generate mortgage leads. Here are some of those methods for how to generate mortgage leads.
Method 1: Utilize Your Existing Network
1. Create Marketing Material. Make sure to have business cards on hand. You can have these made very cheaply. Carry them with you at all times. You never know when you might be able to share your services and create a potential lead. You can also consider making brochures or handouts that include specifics about what you have to offer.
2. Contact Your Personal Connections. Look through your email contacts, Facebook friends, LinkedIn Connections, friends, club members, etc. Reach out and let them know what you have to offer. Chances are you will be able to generate a few leads from your personal connections.
3. Ask for Referrals from Satisfied Clients. Contact your previous satisfied clients. Let them know that you would appreciate referrals. You could even offer gift cards, cash, or giveaways for referrals that end in a new clients. Most of the time your satisfied clients will refer people to you without an incentive. Make sure to send thank you cards to those clients.
Method 2: Reach out to Your Community
- Join Community Organizations. Join PTA, clubs, committees, church groups, etc. When you’re in an organization you are more likely to meet new leads.
- Develop Relationships with Real Estate Agents. Locate real estate agents in your area. Check realtor ads, websites, and the phone book. Call these realtors or go directly to their office. Let them know what you have to offer their customers. Getting a relationship with a realtor can be difficult, but a good relationship can lead to a constant stream of mortgage leads. Be persistent.
- Visit Open Houses. Go to open houses in the area. The people at these open houses are interested in purchasing a home. Hand them your card, and offer your services. This is a great way to develop leads. If you have a relationship with a realtor, going to open houses could be beneficial for both of you. They talk the person into buying the home, and you’re there to close the deal immediately.
- Contact People who Are Selling Their Homes. People who are selling their homes on their own, could also benefit from knowing a mortgage professional. Let them know that you’d love to help them get their house sold. When they find someone who is interested ask that they refer them to you. Some owners who are trying to sell, might even let you put a sign in their yard.
Method 3: Advertisements
- TV and Radio Ads. TV and radio ads are a way to generate mortgage leads. It’s pretty simple and straightforward. Advertise your service on TV or radio. Be sure to include a phone number. Leads will respond directly to your ad.
- Start a Direct Mail Campaign. Design and write compelling direct mail pieces. Send them to people in your area. People who are interested will contact you based on the direct mail piece. You can also hire a company to design and implement your direct mail campaign.
Method 4: Utilize the Internet
- Opt-in Forms on Your Website. Put an opt-in form right on your website. An opt-in form is a simple form where leads can fill out their personal information to get more info about what you have to offer. You can then email or call these leads.
- Social Media Leads. Use your company’s social media pages to generate new leads. Ask open ended questions, offer fun promotions, and try to engage with your followers. If you can get your followers to engage, you can see who is interested in a mortgage. Many companies use this method of lead generation. The key is to start conversations and stay on top of your social media’s activities. This ensures that you get to people when they’re ready for your services.
- Email Marketing. Have an option on your web site for people to opt-in to receive email updates. Keep a list of the people who have opted in. This list is full of potential leads. Email this list periodically.
Method 5: Other Methods
1. Use a Lead Generation Company. The easiest method to generate leads is to hire a company that specializes in lead generation. These companies offer a variety of different leads, such as:
- Live Transfers-Leads are transferred directly to your phone. The lead generation company gets in contact with mortgage leads. Once the lead is determined to be of high-quality, they are transferred, live, right to your phone.
- Direct Mail- Lead generation companies run mortgage direct mail campaigns. The responses from direct mail pieces become direct mail leads.
- Internet Leads- Internet leads are generated through opt-in forms.
- Aged Leads- Aged leads are leads who are a little older. They’ve usually requested information about a mortgage 30, 60, or 90 days before.
- TV and Radio Leads- Lead generation companies run mortgage ads on TV or radio. The people who respond become leads.
- Mortgage Lead Lists- A lead list is a list of leads generated from a variety of different methods. Lists typically include the lead’s phone number, email address, and postal address.
2 Find a Reputable Company. The most important part of using a lead generation company is to find one that is reputable. Make sure that the leads company fits your needs. If you are wanting exclusive leads make sure that you find a company that can offer that. If you are needing the leads to be filtered by location or credit score, find a company that can offer that.
– Use several different methods to generate your mortgage leads instead of just one.
– If you use a lead generation company, be sure to ask a lot of questions to be sure that you’re getting what you want.
– Don’t be defeated if one of the methods doesn’t work for you. Just remain persistent.
– Check the laws in your area regarding lead generation.
– If realtors are giving you “dead leads,” move on to another realtor. Chances are, they have another loan company that they refer their customers to.
– Don’t be too pushy trying to get leads.