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How to Create a Mortgage Sales Plan That Generates Results

By Chris Bibey
How to Create a Mortgage Sales Plan That Generates Results Feature Image
5 minute read
⚠️ Disclaimer: While every effort has been made to ensure that the information contained in this article is accurate, neither its authors nor Aged Lead Store accepts responsibility for any errors or omissions. The content of this article is for general information only, and is not intended to constitute or be relied upon as legal advice.

As a mortgage broker or loan officer, a steady flow of high-quality, targeted leads is critical to your success. Without this, you’ll struggle to maintain a full pipeline of prospects who are interested in your products. 

With this in mind, you must create a mortgage sales plan that guides you from securing leads to closing deals (and every step in between). 

Let’s check out five steps you can take to create and launch a mortgage sales plan designed with your success in mind. 

Target ideal prospects with aged home purchase and refinance leads. 

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1. Identify your target market

In the simplest form, your target audience is anyone who is in the market for a home and/or interested in refinancing their current mortgage. However, that’s typically too “high level” to make meaningful progress. You need to drill down deeper.

Start by reviewing your customer base to answer questions such as:

  • Where do they live?
  • How much money did they borrow on average?
  • What types of homes did they purchase?

The answers give you a better understanding of who has used your service in the past, which allows you to target a similar audience in the future. It also positions you to move into new markets when applicable. 

Tip: This data is extremely helpful when buying leads as you can filter your results accordingly.

2. Develop a marketing strategy

Once you identify your target market, it’s important to develop a marketing strategy that will reach them effectively. Without this, all you have is a target market with no way of getting in touch with them. And that will lead to a lot of wasted time. 

Some of the best marketing tactics include:

  • Online marketing: This can include but is not limited to search engine optimization (SEO), social media marketing, and pay-per-click (PPC) advertising. 
  • Direct mail campaigns: Experiment with postcards and sales letters to prospects in targeted geographical locations. 
  • Local seminars: For example, you could host a local seminar for individuals interested in buying their first home. 
  • Email marketing: In addition to emailing a list that you’ve already compiled, cold emailing prospects can also generate results. 

Along with the above, cold calling remains one of the best ways to reach prospects in a timely and direct manner. 

As your sales plan comes into focus, choose one or two tactics on which to spend the majority of your resources. Master those first and then expand to other tactics. 

3. Connect with your network

The longer you’re in business, the larger your network will grow. Stay in constant contact with your network as this is one of the best ways to generate referral business. 

Referrals are a particularly powerful tool in the mortgage industry. Homebuyers are making one of the biggest financial decisions of their life, so they don’t want to trust just any broker or loan officer. They often turn to friends and family for a mortgage referral. 

Developing relationships with real estate agents, financial planners, and other professionals can help you generate referrals for new clients. And of course, there’s nothing wrong with asking past clients to share your name with people in their life. 

Your mortgage sales plan isn’t complete until you review your network, connect with all applicable individuals, and consider how you can form a more mutually beneficial relationship with each individual. 

Browse our databases of tens of millions of validated leads. 

4. Define a sales process

Let’s start with this: every aspect of your sales process — the actual steps that you take to move a prospect through the pipeline — should tie into the objective of converting leads into clients.

Foundational elements of a mortgage sales process may include:

  • Pre-qualify clients: Don’t waste time and other valuable resources on clients who have no chance or a low chance of receiving approval. 
  • Explain the mortgage process: From pre-qualification through the application and approval, explain what will happen at each step. 
  • Answer questions: Answer any and every question that comes your way. 
  • Follow up: Follow up with prospects who have yet to take the next step in the process. 
  • Guide clients through the application process: In addition to explaining the process, act as your clients’ personal concierge. 
  • Be there on closing day: Your clients may have questions or concerns leading up to and on closing day. 

You want to make the mortgage process as easy and stress-free as possible for your clients. It’s that type of reputation that will work in your favor as you grow your business. 

Ready-to-Close Aged Mortgage Leads

Mortgage Leads

$ 0.40
Per Lead 15-85 Days Old
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Don’t forget that these elements can and likely will change as your business grows and the market evolves. Flexibility with your mortgage sales process is essential to your success. 

5. Monitor your performance

Your mortgage sales plan is not a static document that you can blindly rely on day after day. It’s important to regularly monitor your results and adjust your plan as needed. 

One of the most critical aspects of monitoring your mortgage sales plan is tracking your leads and conversions. You need to know where your leads are coming from, how long they are taking to convert, and what factors are influencing their decision-making. 

Tracking this information helps you identify areas for improvement so that you can focus your efforts on the most effective lead-generation strategies. 

Practice your mortgage sales plan on aged leads 

Within a matter of minutes, you can create an Aged Lead Store account, filter your leads, and place an order. From there, you’re ready to contact your prospects and begin to close deals.

Purchase a new home and refinance leads at Aged Lead Store.

Photo by RODNAE Productions

About Chris Bibey

Chris Bibey is a freelance writer with 15+ years of experience in the insurance and finance industries. Clients include Sales Hacker, Outreach, Discover, PayChex, and Moran Insurance. He has also worked as Head of Sales for Verma Media.

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