Last year’s mortgage environment was marked by loads of competition, and 2014 is looking to be more of the same. But mortgage brokers across the country can breathe a collective sigh of relief: CMP is retrofitting your old kit bag with several new tools – and some oldies but goodies that you may have forgotten about.
Some of these seemingly high-tech products are surprisingly easy to use, and have been tried, tested and suggested by your peers. They may seem daunting, but once you start using these systems, platforms and softwares, you’ll find it easier to build – and maintain – your business.
1 – Social Media
If you haven’t yet jumped on the social media bandwagon, now is the time. Twitter is one of the forerunners in breaking news and Facebook connects more than a billion people – many of them mortgage brokers.
These social platforms are particularly unique because they enable you to create and develop a personalized profile, allowing others – including potential clients – to get a better sense of who you are as an individual.
“It’s creating brand awareness,” says Ravi Gosal, a broker with Dominion Lending Centres
You can really let your personality shine through your social media profile since these types of platforms forge more of an informal relationship between you, your clients and your potential clients. Gosal says it helps when potential clients can see a real human behind the business, making it easier for them to feel comfortable approaching you for mortgage help.
Invis broker Mary Cancelli says she considers her social media presence a way to reconnect with her satisfied clients.
“It’s a re-acquainting,” she says.
That re-acquainting, however, has led not only to repeat business, but to new business, too.
“Through that I get referrals,” she says.
Indeed, a social media profile can tell potential clients a lot about how you approach your business. It can also provide you with the opportunity to share important information about the industry, prompting new and old clients to contact you for more information, if necessary, which can lead to new products.
“Every few weeks or when something is news worthy, I will write a little news tid-bit [on Facebook] just to keep my clients up-to-date on the industry,” Gosal says. “Some people have privately messaged me to say thanks and keep posting.”
Cancelli says she uses Twitter to inform her following.
“I’ll tweet things about interest rates going up or down,” she says.
Once your online relationship with your clients is both open and beneficial to them, social media can also create a portal through which clients and potential clients can contact you with ease.
“Everyone’s on Facebook,” Gosal says. “Some people have it open all day. They have their phones with Facebook, so people always have that avenue open where they can reach you 24/7.”
But before you start a Facebook account, be forewarned: you shouldn’t expect an influx of business after just one week. Social media profiles are like flowers; you need to spend the time nurturing them before you’ll see a return. Gosal says it took almost three years before Facebook brought him a deal.
“It took a while, but it’s possible if you keep your brand out there,” Gosal says. “It’s free, too, so you don’t have to pay anything to market on Facebook.
“Don’t limit yourself from any possible lead you can generate.”