5 Highly Effective Ways To Use Your Mortgage Business

Business Finance

Your business card should be an important part of your mortgage marketing program.

Here are some great business card tips that will help you in your mortgage business:

1. Set a goal indicating the number of business cards you want to hand out each day.

If you’re a newbie (new person) in the mortgage business with a limited budget…or if you’re an experienced originator experiencing a period of very few referrals…this tip is for you. Even the best of us get back in the trenches to generate business.

Now here’s the deal: You pick the number and set your daily goal. The only thing I suggest is that you pick a good number…it can be three, five, seven, ten, etc.

You’ll have to meet your goal every day. Now, I don’t expect you to work on Sunday and…you can also take off Saturday…but only if you’ve reached your goal the previous five days in a row.

So…if you picked five as your daily goal and you reached your goal each day…you now have twenty five cards out there working for you. Do this for a month or two or three and all of a sudden you have three hundred cards out there working for you.

Are you going to get some business as a result…of course you are. It’s a numbers game…the more people you talk to…the greater your chance of success.

When I first started in this business, this is how I did it. I picked ten as my number and at the start of my day I set aside ten business cards. I made a promise to myself that I wouldn’t go home until I had handed out every one of those cards.

I did that for over six weeks straight and even worked in a couple of Saturdays. No matter what I had going that day, I made sure that I hit my goal. I have to tell you…it works. In six short weeks I had distributed over 330 cards. It wasn’t long before I had some calls coming in from these contacts and eventually loans in my pipeline.

2. Print your own cards. Even if your company supplies business cards, find a way to print a few cards.

Most employers don’t object to this. Plus, this gives you the opportunity to create an identity with your card as well as produce cards with multiple backs.

Why multiple backs you may be asking? For different sales messages of course! For example…If you spend a fair amount of time calling on Realtors, then the back of your card should relay a message geared specifically towards Realtors.

Over the years I’ve seen cards with various back designs including the following:

  • A mini-certificate good for $250 which can be applied towards closing costs.
  • A list of documents needed to begin the application process.
  • An Amortization Schedule.
  • A list of loan programs available to borrowers.
  • A special loan program like the low start rate program.
  • A statement like “I save commissions!” or “Last year we saved $146,000 in commissions.” This is obviously geared for Realtors.
  • “We offer easy Builder approval!”

The possibilities are absolutely endless…think about your market…and you’ll find a message.

Ok, here’s my last point on the subject of Business Cards:

3. We touched on it above…use your business card to create an identity for yourself. Printing your own card helps to do this. Personally, I don’t like the picture idea at all…I’ll leave that idea for the Realtors.

Instead, create a consumer-friendly phrase to separate yourself from other loan officers. Many loan officers use “Loan Officer for life” theme. Think original, such as; “Moving? Take me with you to finance your next home.” Spend some time on this and pick a good brand for yourself.