The Washington Independent
The Washington Independent

Ultimate Guide to Grow Your Mortgage Business

Ultimate Guide to Grow Your Mortgage Business

Whether you’re new to the mortgage industry or are a seasoned mortgage broker, competition is fierce right now. That said, there are a variety of steps you can take to step up your selling game and convert more leads. There’s no denying that the mortgage industry is booming, so if you’re looking to get a piece of the action, you’ve come to the right place. Continue reading this comprehensive guide to learn how you can grow your mortgage business.

Paolo Reyna
Finance
Aug 22, 2021

Table of Contents

Whether you’re new to the mortgage industry or are a seasoned mortgage broker, competition is fierce right now. That said, there are a variety of steps you can take to step up your selling game and convert more leads. There’s no denying that the mortgage industry is booming, so if you’re looking to get a piece of the action, you’ve come to the right place. Continue reading this comprehensive guide to learn how you can grow your mortgage business.

Leverage a CRM System

If you’re not using a customer relationship management (CRM) system, it’s time to start. This powerful tool can help you oversee the buyer’s journey from start to finish, ensuring deals don’t fall through the cracks. From keeping your contact list organized to helping you ensure qualified leads are moved through the sales funnel efficiently, a CRM provides mortgage lenders with several benefits.

Here are a few more advantages of a CRM, just in case you’re not convinced yet:

  • Easily segment customers
  • Improve approval times
  • Keep current clients satisfied
  • Automate interactions to save time

Plus, a CRM can help you establish strong relationships with potential borrowers, allowing your brand to become more customer-focused. Make sure to also take advantage of lock desk services to help you improve data integrity and lock interest rates on mortgages. This way, you can focus on developing leads to increase your pipeline’s volume and profitability. 

Follow Up

One of the easiest things you can do to grow your mortgage business is to follow up with former and current customers. For example, you can show a potential client you care by reaching out and expressing your gratitude after they submit a mortgage loan application. These types of follow-ups can be done via a phone call or an automated email. The key here is to ensure that you’re top-of-mind as consumers continue to look for the right loan provider for them.

Following up with clients in your pipeline is also important to funnel them through the sales process in an efficient and timely manner. If you don’t follow up, you run the risk of losing a valuable client. When you follow up, always provide a call-to-action, such as a link to your blog or a phone number to discuss the next steps.

Ask Clients for Reviews

Consumers are looking for a brand they can trust, especially when it involves a significant commitment like a mortgage loan. Positive reviews can establish your brand as reputable, which makes all the difference for potential clients.

For instance, if they’re having a hard time choosing between you and a competitor, consumers may look at reviews. A competitor with an average rating of 4.5 stars and multiple happy clients vouching for them will receive more traffic than a business with little-to-no reviews. So, make it a priority to contact former and current clients and start collecting reviews.

If you receive negative feedback, make sure you do not hide it or remove it. Instead, focus on responding to their reviewer’s comment and attempt to resolve the issue. You should also contact them privately in order to mend your relationship.

Moreover, word of mouth continues to be a powerful tool in the mortgage industry. When clients refer your services to their friends, family members, and colleagues, it makes it easier to establish trust and form a meaningful connection. For this reason, ensure you’re always providing top-notch customer service to not sour anyone’s experience with your brand.

Network With Industry Leaders

Don’t be afraid to network with other professionals in your industry, such as real estate agents. A real estate agent can send their clients your way if they need a loan for their property. You can then return the favor by directing clients looking to sell a home or purchase property to your real estate agent friends. That’s what we call a win-win.

By staying committed and providing high-quality services, your mortgage business will grow in no time. Ensure it continues to flourish by implementing the steps above today.

Paolo Reyna | Paolo is a senior at the University of Illinois at Urbana-Champaign, majoring in International Studies with a Latin American emphasis. During the fall semester of 2012, he had the opportunity to study abroad in Peru, which piqued his interest in international growth. He learned about the disparities that impact indigenous peoples, got a taste of Peruvian culture, and improved his Spanish skills. Mitchel interned with the Chicago Council on Global Affairs, conducting research on food security in Latin America, after being inspired by his foreign experience. He wants to work in international development and for a government department, writing legislation. He loves playing intramural basketball and practicing for the Chicago marathon when he is not thinking about current events in Latin America.

Related

Are you a business owner? Here's how to manage your finances better

If you have just recently started your own business, you are probably worried about your business finances. Usually, business owners tend to focus on the quality of their product or service, forgetting how to handle the finances of the venture. If this sounds like you, no need to worry! Here are 9 tips to help you manage your business finances better.

5 Tips for people moving from traditional to online gambling

The main reason why online gambling has seen such a boost is because of the influx of players coming from the traditional gambling world. Many may have been intrigued by online gambling for a while but never felt the urgency to try them. But, if you feel like now is the right time to make the jump, here are a few tips on how to make your transition easier.

Quick online casino guide for beginners

Hardcore casino fans are probably aware that many websites allow them to enjoy their favorite hobby from the comfort of their homes. However, people who don’t have any kind of gambling experience will be surprised when they find out how many online casinos there are.

Three things that differentiate crypto betting websites from their alternatives

One of the things that people have to do before they start betting online is to decide which payment options they want to use. Regardless of whether you want to play the latest casino games or prefer sports, you need to make a deposit sooner or later. Of course, gambling operators know that their clients have to fund their accounts, so they try to provide them with different kinds of alternatives.

What makes blackjack, roulette, and baccarat popular among online casinos fans

Some online casinos are known for their innovative gambling features. Other betting websites prefer to provide users with more bonuses, but both types of companies know that having multiple high-quality casino games is of utmost importance.

What to know if you want to play online casinos in the UK

Online casinos have become a big hit in the past couple of years. The ease of use and rich offer make them appealing to both first-time and experienced players. However, passionate travelers who are also devoted gamblers would like to know which country allows gambling in the digital space.

What can you learn from a review of an online bookmaker?

Online bookmakers are common in some countries where the local laws allow these kinds of websites to work. Even though there aren’t that many places where that’s a possibility, the iGaming industry is slowly getting the recognition it deserves. This means that more countries are starting to acknowledge the fact that these places attract a lot of customers.

Why is Gold a massive buying opportunity right now?

Gold stocks breakdown, gold price behavior, gold will finally shine, india's impact on gold price, facts about gold stocks, dear retail investors

Zero Sales To 6 Figures: Tinley Entrepreneur Says 'Never Give Up'

Malik Kurdi wanted to be his own boss. Determined to bring a better life to his family, Kurdi launched Exemplary Marketing​ in 2015.

The incessantly growing mobile gaming market and some trends

The global mobile gaming market, endowing players with the practicality of continuing gaming without containments, has kept its gradual ascend and is expected to grow even more between 2021 to 2026 with a CAGR of 12.6%. Many contributory factors are discernable behind this surge.

Why cloud storage is the best option for many companies?

Are you aware of cloud computing? No, but most probably you have heard about it or have had some idea that it is something good to invest in. With cloud computing, your data gets stored in a third-party's server and then accessed by your application.

© Copyright 2021 The Washington Independent All Rights Reserved

Terms & Privacy | twi.news@washingtonindependent.com