Posted by Brian Berg Google+
The vast majority of mortgage brokers suffer the same challenges; too few incoming leads to work and not enough time to find new ones. The idea of building a functional, manageable, measurable and evolving lead generation program is beyond the most business professionals, and this includes mortgage brokers. Most mortgage brokers feel that to make more money, you must make more calls, invest in more mailings, place more ads’, visit more realtors, visit more banks, and/or simply cut prices.
Though any of these investments in time and money may pick up your business activity, unless you can manage both, in addition to increasing your marketing AND systematic qualification process, your new potential prospects will not get the attention they need to become raving referral fans.
Regardless of how difficult lenders get, or how few prospects will qualify for loans, or how many competitors work within your market territory, there will always be a handful of extremely successful brokers and an extremely large number of mediocre brokers working just as hard and earning far less. In the upcoming posts, you’ll benefit from the Blueprint for Building a Successful Mortgage Lead Generation Program. This plan was not designed with a lot of hype and RAH RAH. This document was written the business system in mind. The blueprint is more of an education in building a business model that works by design.
The plan is intended to accomplish the following:
* Create a clear and uniform message that will increase the likelihood of attracting new business and new referrals
* Spend less time and money on unproductive marketing
* Improve your spending habits to complement your business referrals In essence, in today’s market as a mortgage broker, whether you are a one-man show or a multi-location franchise, you must do all of the following:
* See yourself as a business entrepreneur and act accordingly.
* Think in terms of marketing, management, accounting, labor cost, sales, budgets, and how to measure the likelihood that your current prospects will want to refer you to business again and again.
* Build a database of prospects, customers, and referral agents.
* Regularly communicate to your prospects, customers, and referral agents.
* Deliver an abundance of specialized communication that’s valued by your prospects, customers, and referral agents.
This program was written in an effort to help mortgage business professionals systematize the marketing arm of their business. Taking larger corporate level marketing applications and modifying them to fit the smaller, more nimble mortgage broker business model, we offer a must more advanced way of thinking about your business and your role as a service provider. Our goal here is to shift your thinking from how you currently view the building and managing of your business to one that is far more efficient and manageable.
No doubt, if you're reading this now, you're probably working with a passion to grow your business. By applying the same passion for change, you'll be rewarded with a clear plan of action for building your business, a more manageable system for measuring your progress, and a higher paying more secure career.
You'll soon find that this plan is not one in which we try to give you a booster shot in the arm and pump you with excitement. Rather, what is offered it the framework for growing and managing your business. Read on to the other posts for Parts I through IV of this document. Part one is about Building your database of prospects, customers, and referral agents. Part two is about changing your perspective on how you view your mortgage business. Part three is about developing your referral business. And Part four is about measuring success.