Mortgage lead generation is a way to capture information of a potential customer looking to obtain a mortgage.
More than 5 million American families buy homes each year, and more than 90 percent of these mortgage borrowers do their own research online before they ever speak to a lending institution. Studies also reveal that two out of three homebuyers would prefer to be able to complete the borrowing process online, if it were possible. For lenders who wish to reach out to potential customers and gain their business, there are lots of leads out there to get in touch with. You do need a thorough strategy to find these high-quality mortgage leads, however.
What follows are 7 ideas to help you generate mortgage leads for your business.
- Organic SEO
- Local SEO
- Writing in local real estate magazines
- Developing a social media strategy
- Investing in advertising
- Establishing relationships with real estate agents and builders
- Gaining referrals from divorce lawyers
1. Organic SEO
If you only have a modest marketing budget to work with, an effort to rank organically on the search engines can make effective use of it. To rank at the top on Google and other search engines, you need to make sure that you have quality content on your website for the keywords that homebuyers use to search for mortgage lenders. Keyword tools such as Google Keyword Planner and Ubersuggest can help you locate useful, multiple-word keyword phrases. When you publish useful content on your website for those keyword phrases, you tend to rank well for searches and to bring in targeted traffic.
2. Put a local SEO plan together, and make use of reviews
Claiming your Google My Business profile is an important step toward building a local SEO plan. All you need to do is to go on Google Maps, and put down the name of your business at your location. As simple as it sounds, doing this can take considerable familiarity with the way the search engines work. It can help to make use of the services of a search engine marketing firm.
Gathering positive reviews on Google is an excellent way to generate new leads. When potential borrowers see that you have a great reputation with past clients, they are likely to feel confident about getting in touch with you, themselves. Each time you serve a satisfied customer, you can ask them to write an honest review of your company on Google. These reviews can amount to some powerful marketing and lead generation.
3. Writing in local real estate magazines
Local real estate magazines need content by experts. Since you are an expert in the mortgage field, you probably have ideas that you can share with the readers of those magazines. Whether those magazines are exclusively online or have print versions, you can bring attention to the name of your business among borrowers you wouldn’t otherwise reach. Print magazines have the additional advantage that they lie around homes and offices for weeks, and get picked up by new people all the time. Some of these people could think of your business the next time they need to borrow.
4. Develop a social media strategy
About four out of five Americans are active on social media. From Facebook to Twitter and LinkedIn, millions of people like to go on social media and look for opinions and information on the things that interest them. You can use social media, for example, to share images of families you help buy homes, and tell your audience how you could help them fulfill their homeownership dreams, as well.
It’s also a great way to emotionally connect with an audience on social media, to share positive testimonials from clients. In many cases, mortgage lenders even find new leads when they promote homes for sale, on their social media pages. People interested in buying those homes talk to them about mortgages to buy those homes with.
5. Invest in advertising
Advertising is often a great lead generation idea if you’re willing to invest in it. Social media advertising, PPC advertising, web classifieds, advertising on popular real estate listings websites, and offline advertising in newspapers, magazines, and outdoor spots, can all help you find leads. Social media advertising is particularly popular these days for its ability to generate leads for businesses in a cost-effective way.
6. Establish relationships with real estate agents and builders
When people wish to buy homes, they visit the offices of real estate agents and builders. When you build relationships with these businesses, you can get them to promote you as a possible source of financing for homebuyers when they are ready to buy. Real estate networking events can be excellent places to meet professionals in that industry. You can build mutually beneficial relationships with the professionals that you meet there.
7. Referrals from divorce and family lawyers
When couples divorce, often, the family home goes on sale. Whoever buys these homes usually needs financing. Getting in touch with divorce attorneys and family lawyers who help couples settle their real estate issues can alert you to homes going on sale. You are able to reach out to those real estate agents and promote yourself as a possible lending alternative.
It takes time and effort to generate mortgage leads of high quality. This doesn’t mean that there aren’t many people buying homes out there. It only means that you need to invest in being present everywhere that those purchases happen. The lead generation strategies listed here can help you build a pipeline of leads by helping you be where the action is.