5 Pillars of Digitization for the Mortgage Pro
Our Mission: Digitizing local mortgage planners and the realtors they serve to build thriving businesses. Anyone paying attention knows the future involves getting to clients first and then providing them with real value. There are 5 pillars of digitization for the mortgage pro that move the needle: Your value proposition, digital handshake, lead generation, lead conversion and creating clients for life.
Plenty of established MLOs and Realtors have great businesses, but if you are growing a business in this market, you have to not only be digitally competent but also digitally superior.
1) A Compelling Unique Value Proposition.
The market is noisy: realtors have MLOs lined up asking for business and clients see Rocket Mortgage ads during the Super Bowl. You need a value proposition that differentiates you from your competitors. Most of us can explain what makes us unique when giving a 20-minute face to face presentation, but what about when you can’t meet someone in person? The digital difference is you need to close, or at least close enough to get a meeting, online with 15-second attention spans.
2) A Digital Handshake that Converts.
When I ask my seven-year-old son a question he doesn’t know the answer to, he looks at me and with a straight face says, “Hold on, let me ask Mr. Google.” The truth is that people looking for a mortgage are doing to the same thing. Facebook has over 2 billion users and Zillow has a choke hold on page one for organic search results on your listings. Your brand is what people find online, so make sure what clients see represents your best self. Your online footprint is your business card, your commercial and your first meeting. Make it count!
3) Control Over Your Lead Generation.
The market is crowded. 20% of your database will have a mortgage event this year, and Zillow will spend over 100 million to get to them before you do. Traditionally, Realtors have played the role of the front end lead generators. You need to flip the script and use your platform to get to the clients first and become the gatekeeper for the Real Estate Transaction.
4) Compelling and Measurable Lead Conversion Process.
Practicing No Lead Left Behind helps you take advantage of every lead possible. You have to be fast to create a meaningful connection, but also patient to nurture a long buying cycle. Finally, you have to communicate with clients with the right message on their preferred platform. This stuff is easy to talk about and implement…. until you do a good job and get busy. Then, the wheels come off the bus.
5) A During and Post Transaction Process that Creates Clients For Life.
The first step in building profitable long-term client relationships is winning the transaction. This involves closing clean and on time. You must perfect the weekly update using a combination of people and technology. Once you fund, you begin the sales cycle for the next transaction by remaining connected and relevant.
This next market cycle will be challenging for individuals that don’t have a platform to work on. You don’t need a big organization, but you do need infrastructure to build on so you can focus on what you do best! We would love to have you download our Digital Assessment so you can measure where you are relative to the other originators in the market.