Choosing the right Marketing Plan for Loan Officers...

Choosing the right Marketing plan for Loan Officers...

I mentioned this last week in an article and I received a bunch of responses on this comment….“ I know there are not a lot of loans to be had right now, but there are certainly lots of relationships to be made”.?

Relationships are key to the foundation of your business.?They allow you to build a machine that is scalable and efficient, they remove boundaries and barriers. Referral partnerships should be your sales goal every month in this environment.?

An example of how this might be applied for a Loan Officer looks like this:

You are thinking about placing an ad in a publication or some other marketing campaign to get business.?Depending on where you place it, your ad might read something like:

“We have the absolute lowest rate, friendliest service, and we close loans in 14 days! No closing cost loans available. ”?You might get a loan or two out of something like this and that may justify your marketing campaign.?Let’s just say you got 10 good leads and closed 2-3 of them.?Ok, on to the next month.

But what if you choose to place this ad/campaign in a RE Agent facing publication, and changed the wording to:

“Are your FTHBs able to close in 14 days??Are you confident that you are presenting the industry's lowest rates to your buyers??We specialize in helping RE Agents look good????We are a local boutique Broker, this allows us to offer the lowest rates available to anyone, and we always provide that warm, one-on-one service that our clients have come to know and love.

OK, now we are talking a whole different scenario even though you are selling the same thing basically.?10 good RE Agent leads that leads to 2-3 relationships is a?home run.?In a healthy environment, good RE Agents can deliver dozens of mortgage leads…..every month……forever.?

Relationships are vastly more important than transactions.?

Which ad/marketing campaign will you choose to run in this environment? Build relationships and partnerships that will be the paycheck of the future.

….“ I know there are not a lot of loans to be had right now, but there are certainly lots of relationships to be made”.?

Thanks for reading???

Warmest regards,

Rich Phillips

Partnerships & Wisdom. Billions Funded!?Multi-year recipient of ‘America’s top 100 Wholesale?AEs’ by the Scotsman Guide.