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The Internet and Your Mortgage Business

Aug 17, 2007
The numbers are absolutely staggering. Every single day millions of pages are added to the internet and new users are hopping online for the first time in unthinkable numbers. We're still along way from living in a world where everyone and every location is "wired," but the net's growth is nothing short of incredible.

So, what does that have to do with your mortgage business? Everything! That rapid growth of the internet is a boon for those of you who want to do business online. For years, you've heard that the future of business is online and you are now seeing that prediction coming true. Online Mortgage Businesses can be uniquely positioned to reach a constantly growing pool of potential customers efficiently and with laser-targeted precision. That should be exciting for you.

If you don't think being online is important to your mortgage business, consider this fact; between 75% and 85% of all of the folks you talk to about a mortgage have already spent time on the internet researching mortgage rates, mortgage programs, mortgage terminology, credit, and other home finance tips. Not that this makes them a mortgage expert...far from it. We know that mortgages can be a difficult subject.

But, the point to remember is that there are very few "newbies" or "novices" to the internet today. Your customers, prospects, and contacts are more informed and more knowledgeable than ever before. They pay their bills on the internet, shop on the internet, do research on the internet, visit forums and blogs on the internet, and visit auction sites on the internet, just to name a few.

Many of these folks are "wired" and receive immediate news, email, stock notices, and a host of other services and information via their cell phones, and other mobile devices.

Just so you know, there is a flipside to this internet growth. As the number of internet users increases, so does the number of people vying for their mortgage business. In other words, you already have a lot of competition, and you're going to have even more.

That makes it important for you to do a couple of things. First, you need to stay on your toes in terms of uncovering and then communicating with your mortgage prospects, customers, and customers. Those who can find and effectively reach this growing pool will reap the benefits.Your very own website is an integral part of that process.

Second, you need to make sure your message and your offerings stand out from the rest of the competition. The days of just "tossing up" a page on the internet and automatically getting results are gone. Today, you need to be smart and work smart. You need to effectively brand and distinguish yourself from all of the other mortgage competition with quality, style, and intelligence. Your website must reflect this concept and provide the timely and necessary information to help those that use it.

As Mortgage Professionals, the growth of the internet and its services provides those who are willing to work hard and smart with a tremendous once-in-a-lifetime opportunity. As the numbers continue to grow astronomically, the chances for healthy opportunities in the mortgage business also increase.

Remember that people want good, solid, honest information that helps them make a wise mortgage decision. And because we have entered a world of instant information and instant gratification, these people want that information quickly and efficiently. It's your job to provide it.
About the Author
Tom Domin is the author of "101 Ways to Originate Mortgages" and publisher of "Tom's Mortgage Tips" a twice monthly Mortgage Newsletter geared for Mortgage Professionals. Increase your pipeline and put your mortgage career on the fast track and sign-up for FREE at http://www.MortgageMarketingToolKit.com.
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