As a mortgage lender, you are always looking for new ways to increase productivity, generate new leads, and improve the efficiency and success of your business. Fortunately, with the right tools and the right mindset, you and your team of loan officers can make great strides towards those goals in 2017.
Here are ten ways you can start improving your mortgage business today.
1. Utilize New Technology
Technology is always changing, and it’s important to be aware of what’s new and how it can help you. Tools like ABT’s MortgageWorkSpace® suite will help you boost productivity, improve organization, and close loans faster—all from the cloud! Whether people are looking to get a first-time mortgage or refinance, you can move them through the loan process more effectively, and with cloud IT services, you have the benefit of being able to use them when and where you want.
2. Enhance Security and Compliance
Too many mortgage companies damage their reputations and put their customers at risk because of security and compliance issues. Data breaches continue to be a pervasive issue in the mortgage industry. If personal information of your clients is hacked, they can lose all trust in you, and it can take years to repair your reputation.
3. Focus on Efficiency
Efficiency needs to be a primary focus of your business. If you have been performing the same processes the same way for years, it may be time to reevaluate your approach. New technology will make it easier for you to automate and streamline some of those processes for increased productivity. And with Business Intelligence, you can obtain in-depth reports that allow you to gain even more insight into your mortgage business’s efficiency and productivity.
4. Try Direct Marketing
Direct marketing can be one of the best ways to drive prospective clients to your business. An email list can be created relatively easily, and you can use inbound marketing to get people to fill out lead forms so that you can capture more information about them.
5. Prepare Gated Content
You are already knowledgeable about various hot topics in the world of mortgage lending. Why not offer that knowledge to your customers? Create a white paper or ebook on a topic your customers want to know about, in order to demonstrate your expertise and build trust. It can be a great resource for both current and prospective clients, and it serves as a great way to obtain the contact information of new leads.
6. Improve Your Social Media Presence
People are spending an increasing amount of time on social media, offering another opportunity to connect with current and potential customers and create an online presence for your business. Find one or two social media channels where your target audience is active, and start utilizing them for your mortgage business. Post consistently and engage with your followers to maximize the benefits.
7. Build Your Testimonials
Talk to your past clients and find out if they were happy with the mortgage service that you provided. Ask them to write a testimonial, or even ask them to record one so that you can have a video testimonial. These can be excellent marketing tools that help to generate fresh content for your website.
8. Get Involved with Your Community
Many people like to patron businesses that are making a difference within their local community. By getting involved and donating your time or money to a good cause, you can gain visibility for your business and build a positive image of your brand.
9. Take a Personalized Approach With Prospective Buyers
Buying a home is one of the biggest and most important decisions someone will ever make, which is why it’s important to treat each client as an individual. You can do this by hand-writing notes, personalizing emails, and following up on any questions that they may have. Canned responses and a generic or impersonal client experience will reflect badly on you as a mortgage professional.
10. Network With Other Agents
Make the time to network with other agents so that you can learn about some of the best practices taking place within the industry. Meet once a month for coffee to discuss the latest happenings in the mortgage industry or your favorite mortgage tools and tips.
Your goal should always be to improve your mortgage business, but the new year is a great time to renew your commitment to that goal. At ABT, we offer the tools you need to make your mortgage company work faster, better, and more securely. To learn more about our mortgage cloud software, contact us today.