01 Nov 3 Marketing Steps Every Mortgage Professional Must Be Taking Immediately During This High Interest Rate Environment.

By: Zac Cusac (CEO + Founder)

I’ve met with mortgage professionals across the country and everyone is experiencing a downturn in production. There is no special sauce – it’s about being intentional with your strategies and how you spend your time. 

Remember that just as quickly as that faucet of production turns off, it will turn back on. The only question you need to ask yourself is, “Are you looking for a leak of leads or a full river pouring your way?”

If you want the latter, start taking action on the below items to ensure opportunity will be coming your way as rates eventually pull back and confidence in the market improves:

1. Content – Create content…it only takes a short time for you to create a video and share on Facebook or Instagram. Your sphere of influence follows you on social media. The more value you deliver to them every day, the more opportunities will come! Here are some common videos that you can create today to add value to your SOI

– What can I afford to buy in today’s market with a $150k salary?

– Why is your debt to income ratio the most important thing when going to buy a home?

– What is a seller buy-down program?

2. Database – Your past clients are your greatest opportunity for new business. Yes you are reading that correctly. Your past clients are your greatest opportunity for new business! Why? Not only can you help them on future purchases or refinances but they can and should be your best sales rep.

Here’s the key – they don’t care about a monthly dish recipe. They care about information that is unique to them (how much equity do I have in my home today? Can I afford to buy an investment property?)

When you keep your database engaged, more referral and repeat business will come. Get started where you are at today – if you don’t have a database organized, you can export your closed loans from your LOS or from a personal email address (Google search how to export contacts from Gmail – it’s fairly easy).

If you have a database organized in your company’s CRM but don’t personalize anything, how about recording a video and sending it to your database – What is happening and what should they be prepared for? What opportunities should they be looking at today and into the future?

Schedule a “mortgage review / equity analysis.” There are a number of great CRM options out there but the best one will always just be the one you ACTUALLY use! The point is…your database presents an opportunity. Leverage automations and systems to ensure you are getting the biggest ROI.

3. Strategic Partnerships – Everyone has always gone after realtors but there are other avenues to attack. Try using LinkedIn to identify financial advisers, CPAs, trust attorneys, or other referring sources. In today’s market, you need as many referral sources as possible. On LinkedIn everyone sets up their profiles based on their job meaning that people are telling you what they do. Roll up your sleeves and start connecting with financial advisers! Create a script – something simple and to the point like the below:

“Hi Financial Adviser – I am looking to find a strategic partner in your area that I can refer my clients to. Would you be open to jumping on a call and seeing what kind of synergy we have?“

Something as simple as above can get the dialogue flowing and can convert into meetings with these new strategic partners.

At the end of the day, it’s about taking action and putting yourself out there! Once you are outside your comfort zone you will find opportunities!