Seven Marketing Tips from the Top Mortgage Producers

1. Know who you are trying to market to and why. You must decide whether your marketing will attract credit-challenged homeowners, first-time homebuyers or another borrower type. Market to the niche that you want to serve. Determine why you are trying to reach this particular borrower type, as well, and what you can offer them.
This will help you establish what kind of marketing you must do and what message you will place in your materials. You must be clear about this before you take any further marketing steps.

2. Have a plan that involves multiple marketing channels. Depending on a single source to generate all of your business can make you vulnerable if market conditions change. Case in point: Brokers who tried to reach potential clients solely through telemarketing were dealt a serious blow by do-not-call lists. Changes like this can take hold quickly. To be prepared, try using several different media for your marketing.
Some methods include writing articles, sending direct mail, or hosting telephone or Web-based seminars. These not only will help you generate new leads but also will help convert existing leads and retain your current customers.

3. Know where your prospects stand in their buying decisions. Not all prospects will have the same response to your marketing. By nature, some people are impulsive and will be eager to call you right away. Others will be cautious and must know more about you before they take the leap and contact you.
The key is acknowledging these types and structuring your efforts to match various comfort levels.
For instance, running advertisements that feature an offer for a free report can help you discover interested prospects without making them feel pressured to do business with you. On the other hand, a powerful sales letter that includes lots of guarantees and bonuses will work for prospects that are looking to make a quick mortgage decision.

4. Show prospects why they should want you. Prospects want to know that you are dependable, knowledgeable and successful. If they are comfortable that they won't regret working with you, you are closer to winning their business.
There are several ways to use your marketing materials to show prospects why they should select you as their broker. Try including testimonials or articles that others have written about you or educational resources you've created.

5. Deliver what you promise. Unfortunately, underperformance, tardiness and unmet expectations are becoming the norm in business. Consumers now often expect tension, frustration and anger when working on financial deals. Because expectations are so low, however, it is easier to impress prospects. You can accomplish this simply by doing what you say.
This means that if you promise clients you will call them back in 24 hours, you must do so. If you can't handle this, change the expectation to something that works for you -- and stick to it.

6. Determine where you're needed When choosing a niche, consider whether your prospects are hungry for your services. Market to people in special situations.
Consider mortgages for people facing a divorce. There frequently are income and credit issues involved in these situations. Or consider marketing to people of specific ethnicities or in certain professions.
The potential is unlimited. Just select a niche and communicate with its members the right way, pressing all the "hot buttons" that will gain a positive response.

7. Create systems that sell You do not have a real business if you are doing everything yourself: processing, taking applications, following up on leads, printing, mailing, stuffing envelopes, etc.
You need a competent back office on which you can rely to free up your time to look for deals. The good news is that you don't need layers of employees or other overhead to accomplish this. Automation is key here.
Consider automating everything possible -- e.g., mailers with a few clicks of a mouse, automated follow-ups to your "call-capture" number, Web site auto-responders, pre-written and scheduled mailers, teleseminars and voice broadcasts. You often can accomplish this with little effort.