For mortgage professionals, generating enough leads should be the most important aspect of their business. But that doesn’t mean you have to break the bank to buy expensive leads and lead programs. With a little creativity and effort, they can generate their own supply of cheap mortgage leads. Why spend $5-$20 per lead that is usually old or repeat, when you can create your own stream of new leads?
Top 7 Tips to Help Loan Officers Generate Their Own Cheap Mortgage Leads:
one. Make those business cards fly. Make it a point to give out a predetermined amount of business cards each day. Giving 10 a day starts to add up over time. In a week, you’ll have 70 of those “tiny billboards” floating around. After a month, the number is about 300. And if you have the discipline to do this for an entire year, you’ll have about 3,650 of your cards in possession of leads. And this amount of marketing will turn into a constant stream of cheap mortgage leads.
2. Using flyers. Flyers still work (and are getting cheaper to print every day). Done right, flyers are an affordable way to get more of your marketing message out in one fell swoop. Just be sure to display them where there is a lot of traffic.
3. Called “warm”. Cold calling is hard work, and if you have thick skin, it may be an option. But for most loan officers, constantly being turned down can be a real downer. A better suggestion is called “warm”. This technique involves mortgage professionals calling everyone they know and everyone they have worked with. Too often, salespeople forget about the customers they have worked with in the past. And this is a shame because these people (previous clients) are the easiest to approach and most likely to work with again.
Four. Door hangers. It seems that only pizzerias use this marketing method. But to be honest, this is a very cheap and unobtrusive form of marketing. Sellers don’t have to knock on doors. All they have to do is put a small sign on every door in a neighborhood or subdivision. Interested prospects will then take the first step in contacting them.
5. car magnets Visit your local print shop and ask about magnetic car sign options. For a small fee, loan officers can have professional-looking signs hung on the sides or rear of their vehicles to promote their services 24 hours a day, seven days a week. Mortgage professionals will be very surprised at how many cheap mortgage leads these magnetic signs can generate.
6. Start a local real estate blog. Sites like Blogger.com have made starting and maintaining blogs incredibly easy and affordable (Blogger is actually free). Loan officers should make weekly blog posts about real estate in their local area, as well as engaging posts related to mortgages, credit, and financing.
7. Run a seminar. There really is no better way to have a room full of motivated prospects than to hold a real estate buying or refinancing related seminar. People who take time out of their busy schedule to attend an informational seminar tend to be ready to take some kind of action. Loan officers conducting these seminars must provide not only information, but also a strong call to action to convert those prospects into customers.
Generating cheap mortgage leads doesn’t have to be complicated. With a little imagination and some work, loan officers can set up different ways to create their own loads.