Becoming Your Community’s Go-To for Mortgage Needs

It’s no secret there’s a lot of competition in the mortgage industry. As an independent mortgage broker, you’ll mainly be competing against banks and big retail lenders. As a small business owner, it’s important you’re able to stand out among all the big players in the market who might have large advertising teams and budgets. The best way to do this is to build brand recognition and credibility by establishing yourself and your business as an integral part of the community.

Let’s take a look at some things you can do to become the go-to resource for your community’s mortgage needs as an independent mortgage broker or loan officer.

1. Get involved in the community

There are plenty of ways you can get involved with your local community. As a small business owner, get in touch with your local chamber of commerce or other professional associations. This can increase your visibility throughout the community, provide you with an abundance of networking opportunities and further bring credibility to your broker shop.

Aside from local professional organizations, you can also become your community’s go-to resource when it comes to home financing education. Consider hosting regular educational webinars or promoting a weekly blog that guides locals through the mortgage lending process. This is an easy way to share your knowledge and stay top of mind for all mortgage loan needs.  

2. Build relationships with real estate agents

Independent mortgage brokers and real estate agents are the key players in any local housing market, meaning it’s crucial that you take the time to build solid, long-term relationships with agents in your area. As local businesses, you can then work together to share clients and referrals.

At the end of the day, you both want what’s best for your clients. Ensuring they have a good partner for both their mortgage and real estate needs at any given time goes a long way to building relationships that can keep paying off down the road. Learn more about how to build relationships with real estate agents here.

3. Invest in marketing, sponsorships, and non-profit organizations

Investing in marketing is key when it comes to brand recognition in your local community. Whether you choose to hire a full or part-time marketing manager for your office or hire a third-party agency, this investment will be well worth your money if done right. Some wholesale mortgage lenders also offer marketing tools and support that can help you jumpstart your marketing strategy and save you from spending a lot of money on things like a Customer Relationship Management system (CRM) or a lot of time on social media or email communication.

In addition to marketing campaigns, it’s also a good idea to invest in local sponsorships or charitable causes. Are there any large events you can sponsor throughout the year? What about youth sports teams? Do some digging and determine what opportunities work best for your business and give you a chance to get in front of your desired audience. Sponsorships not only result in great brand visibility, but they also showcase your dedication and commitment to the local community. It’s also important you’re giving back to the community in which you are running your business by supporting local non-profit organizations.

Community involvement is key when you’re looking to build your business as an independent broker shop. The goal is to build credibility, trust, and overall awareness of your business, so when it comes time to look into a mortgage, your local community members will know who to call.

Are you interested in making an impact on your local community by becoming an independent mortgage broker or loan officer? It’s easier than you might think — especially with our team at BeAMortgageBroker.com helping you every step of the way.