The internet has transformed the way home buyers shop for new properties, and the way loan officers find new clients. Many originators opt to buy mortgage leads to help fill their pipeline.
But then what? How can mortgage professionals maximize their return on investment (ROI) when they buy mortgage leads, and where do they find the best mortgage leads to buy?
Here are 6 tips loan officers can use to convert these mortgage leads into closed business, from introduction to close.
- Start with the Best Mortgage Leads Possible
- Approach Your Mortgage Leads Appropriately
- Screen the Potential Buyer Cleverly
- Convey Your Understanding Empathetically
- Deliver An Extraordinary Closing Experience
- Ask for Referrals!
Start with the Best Mortgage Leads Possible
It's a fool's journey to try weeding through long lists of leads yourself. Use a service like Opcity to do the legwork for you in finding meaty, up-to-date, exclusive mortgage leads from around the web. By hiring a service that filters out fake phone numbers and "lookey-loos" who aren't serious about buying, you can save dozens of wasted hours, and put that time toward productively building your pipeline.
Approach Your Mortgage Leads Appropriately
Set a friendly, helpful tone from the first touch. It's tempting to launch into how awesome and qualified you are, and start selling immediately. Hold yourself back. Ask the lead about their specific needs and what they expect from a mortgage professional. Listen carefully and gear your responses to what they want. This conversation builds the foundation of a positive, productive buyer experience.
Screen the Potential Buyer Cleverly
While you've probably purchased leads that were qualified and warmed up beforehand (at least those are what you receive if you buy mortgage leads from Opcity), it's important that you continue to deduce how much house they can handle and how big of a mortgage they can qualify for. If you are working with first-time homebuyers, this part is especially essential. Be prepared to ask open-ended questions about the home and mortgage they want. Gauge their answers to measure how educated they are about credit scores and the process in general. If they're lacking, share your expertise in these areas with easy-to-understand tips and suggestions.
Convey Your Understanding Empathetically
Chances are high that every one of your mortgage leads will run into one obstacle or another during their home buying journey. They may miss out on the house they really want, run into credit score issues, face home inspection problems, or experience closing day snafus. While all of these are everyday occurrences for a seasoned loan officer, your borrowers are probably facing them for the first time. Be respectful of their stress and frustration and stand with them as a support network to help them over the rough patch. In addition, be responsive to their questions by addressing them as quickly and thoroughly as possible. Helping them this way builds trust and loyalty, and may garner you several referrals down the road.
Deliver An Extraordinary Closing Experience
It's imperative to attend your closings. If you're absent, your client may feel abandoned or thrown to the wolves at the most critical time in their journey. Schedule each closing in your calendar and arrive a bit early to sit with your borrowers and answer any last minute questions. Introduce yourself to the title company representative and the real estate agents, as both parties may be good contacts to have in your network.
Closing day is the perfect time to...ask for Referrals!
If you've followed these tips, your borrowers are happy customers. What better way to gain some new leads? Take several business cards and ask your borrowers to pass them out to any of their friends or colleagues shopping for a home. Do the same with the real estate agents. Doing this, in addition to buying mortgage leads, will keep your pipeline full and qualified customers rolling in.
Figuring out the best mortgage leads to buy is a key factor in a loan officer's success. By trusting Opcity, you can feel good about the quality of leads you will consistently receive. By converting those leads and leveraging them with these 6 helpful tips, you will enjoy a higher close rate, a more positive customer experience, and a greater number of future referrals.