Could you use some free mortgage leads? If you’re new to the mortgage business or a veteran loan officer who is a little short on cash, you’ll be happy to know there are several ways to generate free mortgage leads.
That’s right. Even if you’re dead broke, you can still generate good, quality, pre-qualified mortgage leads at no cost. Just keep reading and I’ll share 6 powerful steps to generate free mortgage leads.
1) Create a powerful unique selling proposition (USP)
If you don’t currently have a unique selling proposition – Find one. What makes you different from all the other mortgage lenders out there? What makes you better? Why should a prospect use you over a competitor? Answer these questions and you will have your unique selling proposition.
This is an important first step because you will need a strong USP to generate free mortgage leads using the tips below.
2) Find joint venture partners
Offer a referral fee of $100 to $1000 for any referral resulting in a funded loan. Offer this opportunity to all friends, family, neighbors, anyone and everyone.
Can you call the past clients of a co-worker to generate referrals? If so, you could split the commissions generated from your efforts.
3) Give free seminars
Arrange to present your USP to others to produce referrals. Here are some ideas:
1) Contact the sales manager at real estate offices to present your USP at a realtor sales meeting
2) Contact human resource managers. Give a free seminar to employees of a company.
3) Present your USP to CPA’s or financial planners to create referral relationships.
4) Contact divorce attorneys and offer your services to their clients.
5) Contact relocation companies
Do you need some ideas for how to successfully approach these professional? If so, visit the following web page and download three sample approach letters:
4) Write Articles
Write articles about mortgage products, rates, no closing cost loans or no money down financing. Then submit your articles to article directories with your contact information at the end of the article. Here are the article directories I recommend:
Try to include the following elements in your articles:
1) Useful information – a must!
2) A text link to your site.
3) A lead generating offer relating to the subject mater in your article.
Provide a link to a web page on your site where the reader can get a complementary special report or something else of value.
If you submit just two articles a week to the sites listed above, after one year you would have 100 articles all over the internet. If you publish useful information, these 100 articles could easily generate hundreds if not thousands of free mortgage leads daily.
5) Start your direct mail campaign
Borrow money from a friend or family member and start a mail campaign. Use a credit card or borrow a credit card to get started.
If you borrow money or a credit card, offer that person a split of the commissions generated from the project.
6) Cross sell
Once you get a client using one of the 5 tips above, impress them with your extraordinary customer service skills and generate a testimonial. Use that testimonial to create a referral relationship with:
* HR manager at their work
* Listing real estate agent and that agents entire office
* Selling real estate agents and that agents entire office
* Financial planner
* Insurance agent
* The seller of the home on a purchase transaction
* Title Company
* Real estate appraiser
There you have it. Use these 6 tips to help jump start your mortgage business.
For more helpful mortgage lead generation tips and advice visit the Mortgage Marketing Blog at:
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