Tips on How to Successfully Generate More Mortgage Lending Leads

Tips on How to Successfully Generate More Mortgage Lending Leads

The mortgage lending industry is now more competitive than ever. With rates soaring, loan values dropping, and mortgage application volumes plunging, lenders—now more than ever—must work doubly hard to generate more mortgage lending leads.

While cold calling, direct mail, and other traditional marketing methods may bring in a few leads, you need to explore new tactics to capture the interest of the younger generations and meet the changing demands of the consumer market. Here, we go through five tips that can jumpstart your success in mortgage lending.    

Tips on Generating More Mortgage Lending Leads

1. Start with the right strategy

Mortgage lending success starts with the right strategy that’s crafted for your specific financial institution. Figure out what differentiates you from the competition and highlight these. Do you have expertise in a specific loan program? Are your fees much lower? Do you offer full mortgage services? Let your unique value proposition be the key element in your plan and craft a dynamic strategy that can be adapted to changing market behavior. A well-planned strategy can help establish yourself as an authority in the mortgage industry.

2. Always be available

always be available

Most people today value convenience and availability in the services they seek. They want access to information and services anytime and anywhere they are. Meet this demand by making sure you are always available for your clients even beyond office hours. Create an online portal for online applications, customer knowledge base, and 24/7 chat support.

3. Offer competitive pricing

Rates and fees are major decisive factors for potential clients. But you need to balance low-rate offerings with your business sustainability. Offer competitive pricing with quality rates and fees. Gain an edge from other lenders by being upfront with your numbers. Making your rates more visible attracts more leads.

4. Simplify your mortgage application process

Your potential clients have busy lives. Avoid taking too much of their time by streamlining your application process. Leverage technology to make online applications mobile-friendly and easy to fill up. Get rid of unnecessary steps and make transitions between devices seamless. Let clients know that mortgage applications take only a few minutes to complete.

5. Craft a winning digital marketing strategy

digital marketing strategy

With most prospective home buyers searching online for information, a solid digital marketing strategy is a must. Boost your online presence by getting listed on Google maps, Bing maps, and other local maps. Incorporate voice search optimization into your strategy. By getting listed and syncing your mortgage business, you open a door of opportunities to attract more customers.

Aside from leveraging maps and voice search, utilize pay-per-click ads as a cost-effective way to reach a broader pool of potential clients. When executed well, your PPCs on Google Ads, Facebook, Twitter, and other platforms can bring in a steady stream of leads.

Lastly, gain more visibility and awareness by promoting your loan officers on social media platforms. Have your loan officers create their own accounts on LinkedIn, Zillow, and other social media sites. Share their links as you promote your mortgage lending services.

Mortgage Lead Generation is Crucial to Your Success

As a loan originator, effective mortgage lead generation is key to your continued success. Implement the right tactics to remain competitive and leverage technology to offer better services. Start generating more leads by getting your business listed on major map and voice search platforms through iMapping.