ortgage brokers’ businesses thrive because of
the relationships they develop with clients,
lenders and other strategic partners in the
industry. Unfortunately, many brokers aren’t making the most of the
relationships they put so much time and effort into establishing.
Many brokers have loyal clients that come directly to them for
business time and time again. It’s important, however, for brokers
to reach out to customers whom they haven’t heard from or done
business with recently.
Tap existing relationships
Developing a plan to nurture customer relationships should be a high
priority for a commercial mortgage broker’s marketing strategy. This
plan can be as simple as regularly sending personalized e-mails
with information on relevant products, based on a client’s past deals.
A brief phone call to catch up and see how a client is doing also can
be highly effective.
These efforts are not difficult or all that time-consuming, but
they go a long way toward showing customers that they are on
your mind and important to you. In turn, the next time one of
these clients has a deal, who do you think they are going to contact?
Almost certainly, it will be the broker they speak to regularly and have
a solid relationship with, rather than another broker who cold-calls
them out of the blue. Never overlook the potential that exists with
previous client relationships.
In the same vein, mortgage brokers also should make sure they are
making the most out of the relationships they have developed with
their lending partners. Having polished marketing materials can easily
help a mortgage broker stand out from their competitors. Many brokers, however, don’t have the time or internal resources to develop
these materials for every product they offer.
This is where lender partnerships come into play. Many lenders offer
white-label marketing materials that brokers can easily customize and
utilize. These materials can range from simple product sheets to
detailed client presentations. There is no need to reinvent the wheel
when lenders typically want to provide mortgage brokers with the
tools they need to succeed. All you have to do is ask.
Develop new connections
For mortgage brokers, developing new relationships are just as important
as maintaining existing ones. Attending conferences, seminars and other
events are a great way to accomplish both goals. If a broker doesn’t have
a marketing plan that includes attending at least one event per quarter,
they are missing out on major opportunities to grow their business.
Meeting someone in person is often far more effective than communicating by phone or e-mail because it allows clients to put a face with
your name. In-person meetings also give brokers unique opportunities
to create a more memorable interaction with their customers. A client
may not remember a call they had with you a few weeks ago, but they
will absolutely remember going out to dinner or stopping for a drink after
a conference or seminar ends for the day.
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