Looks like the government has pushed us back into a refinance boom.
You might have already noticed your phones ringing. If yours hasn’t or your customer pipeline is cold get this boom started with aged mortgage leads.
Here are some tips to get your mortgage leads pipeline pumping out loans again:
1. Buy aged mortgage leads. These are great Internet leads considering the market we are in. Most are professional marketing campaigns, with high intent customers. Unfortunately, mortgage brokers and loan officers have drawn down so much that there is an oversupply. This creates a pricing advantage.
2. Create a “market update” email campaign. A lot has happened in the last few weeks. You will be surprised how many consumers don’t even know mortgage rates have hit 37 year lows. Use you market update email to get them thinking about their current mortgage or the ideal opportunity to buy a new home.
3. Direct mail past clients and new aged mortgage leads. The average consumers’ mail has significantly less commercial advertising with most retail and credit card businesses in trouble. You will be surprised at the response you can now get with a well designed piece of direct mail.
4. Follow-up on leads and in-bound calls. Hopefully you are getting swamped with calls, but whatever you do don’t drop the follow-up. Consumers are in a panic, they want to lock-in these new rates now. And, you are not sure how long this cycle will last. So, get an air-tight tickler or simple lead management system to maximize each opportunity.
5. Tell others about your success in helping customers. Testimonials are great motivators for customers to choose you. As you get these successes collect testimonials and attach them to all of your marketing. People are looking for folks like them to endorse you. Collect and use those testimonials liberally.
This is a great time to be one of the few surviving mortgage brokers–make the most of it!