BUSINESS DEVELOPMENT IN THE HOME STRETCH

darren-phoneIt’s early October, and you know what that means. Fourth. Quarter. This can be stressful for many reasons as it’s time to assess whether you’re going to hit your annual goals, the housing market experiences its traditional slowdown and the stress of the holidays are upon us. Add in a pandemic this year, and you may just feel certifiable.

Here’s the good news. You knew October was coming. It’s been inching ever closer since the day after Halloween last year. So up your business development game.

Here are 5 ways to do so.

  1. Create Digital Experiences

Now that we’re working remotely, it’s more important than ever to create digital experiences that matter. You do that by providing memorable, timely and relevant content to your followers and clients. You can also take this a step further by recording personalized video messages that are either posted online or sent directly to clients’ inboxes.

  1. Engage in a Little Webification

You don’t have to reinvent the wheel to provide new digital content. In fact, chances are high that some of your existing presentations, marketing reports and brochures can easily be converted into online content. Just break them up into bite-sized chunks and voila! You have a week’s (or month’s) worth of social media posts.

  1. Scrutinize Analytics

One of the beauties of technology is its ability to capture, organize and analyze data. Use this to your advantage. This data is perhaps the single most important tool that can take your business to the next level. Dive deep into these numbers and determine what is – and is not – resonating with clients and followers. You should also use this data to analyze the demographics of your client list. Are there certain neighborhoods, age brackets, income levels or other borrower categories that you could improve upon? If you find that your business significantly leans toward one borrower profile, do your marketing efforts reflect that lifestyle and their priorities? All things to think about. And the numbers don’t lie.

  1. Reach Out Individually

Followers are great, and there’s no denying that those numbers stroke our egos. As great as those numbers are, however, they don’t mean much if no one is interested in your services. Of course, you can’t know if they’re interested if you don’t reach out. You may get a few individuals who contact you, but you’re bound to get a lot more leverage out of your content and online presence if you engage with them. This means responding to their questions and comments online, as well as contacting them to see if you can answer any further questions or address their specific financial situation. Followers are there because they’re interested in you, your product and what you have to say. Never be embarrassed to take that a step further and secure some business!

  1. Follow Up

We all know the initial contact is only half the battle. You still have to get the prospective borrower to see the value of working with you on a home loan application. So don’t drop the ball! Return any communications in a timely manner (and through the same platform they used to contact you). Ask what you can do to help. Gently nudge them if a few days have passed and you haven’t heard anything. While you never want to be a pest, a “no” isn’t a no until they’ve said they’re not interested. Even then, you can politely ask if you can follow up a few months from now, when it may be a better time.

The fourth quarter is always the nail biter. You’ve got to make something happen as time keeps ticking down! While it’s been a great year in the residential mortgage business, we all want to build that pipeline through this quarter and prepare for next year. Your future self will thank you when you’re ringing in the New Year on December 31.

Regional Vice President - Southwest

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