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Mortgage Marketing Strategy - Why You Have To Have A Plan To Succeed

Oct 9, 2007
As you well know, the biggest part of mortgage success comes from the ability to market. By marketing your mortgage business properly, you can see more potential clients. The more clients you see, the more mortgages you will close. The more mortgages you close, the more money you make and the more overall success you will experience. The best way to make sure you see as many clients as possible is to have a good and stable marketing plan in place. Creating such a plan is not as hard as you may think it is. In fact, there are three simple steps you can take that will help you to form a good marketing plan for your mortgage business.

The First Step

No matter what you are trying to accomplish in life, there are few things more valuable than a good plan. However, before you put a plan in place you have to prepare. You must take time to plan your approach to marketing before you can implement it. It is not always the best talent that wins, but rather the best prepared that gets the victory.

When you are able to get a good marketing plan going, it is never an accident. What may look like luck on the outside or what may look like someone is stumbling into leads at every turn is simply a result of good planning.

Just be sure you do not over prepare. It is easy to do what many other mortgage pros do and spend all of your time preparing and none of your time acting. So jot down a few ideas, and start implementing them. You can always make adjustments as you go along.

Step Two: Participate

Once you have a marketing plan in the preparation phase you need to get into the participating phase. You will never know how good your plan is until you try to use it. Once you start, you can see what is working and what is not and how to fix it. Fixing on the fly is one of the best things you can do to make sure your plan is effective.

This is also the step where things really start forming. This is where you get to talk with customers and clients and ask for their business. Make sure that no matter what your marketing plan looks like that you are taking the time to actually ask for business.

At this time, make sure you are organizing your time correctly. You should divide it up between planning, prospecting for new clients actively, actually selling, following up, and always allow time for just screwing around (because everyone does that). Always make sure you are in control.

Step Three: WORK

Marketing is anything but easy, and that is something you have to know going into the whole marketing plan process. Make sure you are ready to work hard, because working hard is the way you get ahead in the mortgage business. Once you get your marketing plan in place, you will need to be prepared to do everything you can to push that agenda at every turn.

Don't Forget to Lean

When you make a mortgage marketing plan, don't forget to include time to prospect partners with your mortgage clients. Look for programs and methods that will help you to hook up with real estate agents. Since a high percentage of leads in the mortgage industry come from referral, you want to make sure you are actively pursuing referrals from the best source: agents.

When you can find a program that will bring agents to you, you will find that your leads will go up. These leads will also be the best kind available to the mortgage professional: the renter turned buyer. They are, as it is sometimes said, the low hanging fruit of the mortgage industry.

So make sure you are bringing your marketing plan full circle. Plan to market to new leads and new clients, but don't neglect the marketing of your services to real estate agents, builders, and contractors who can refer business to you for which you have little if any competition.

As you can see, there are some easy steps you can take to ensure yourself a good marketing plan. A good plan is probably the single best move you can make to increase your business. You need to make sure you are planning, executing and working hard if you want the plant to succeed. Finally, you need to make sure you are remembering to pursue partnerships with real estate agents and builders in your area as well.
About the Author
Shane Brooks is a hard nosed business man that doesn't take kindly to competition. His hard hitting no nonsense Mortgage Marketing Strategy Using Realtor Referrals constantly makes waves for his competitors, effectively making Shane the competition to beat. Shane doesn't mind stepping on the toes of his competitors or ruffling a a few feathers of the so-called gurus in order to level the playing field.
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