Building a Team for Success in the 2022 Mortgage Market
In today’s fast–moving market, the mortgage broker who is backed by a team of trusted professionals has the clear advantage. Let’s look at who you might partner with and how.
Strengthen Relationships With Listing Agents
Solid relationships with real estate agents are the cornerstone of a mortgage broker’s team. As buyers often take the advice of agents when they suggest lenders, these relationships serve as invaluable pipelines to clients. You need to maintain good relationships with agents you know and reach out to new ones.
So get local. Real estate agents naturally gravitate toward brokers with extensive knowledge of their local markets. Focus on specific markets, making yourself available to meet face–to–face with borrowers. Consider joining local real estate associations as an affiliate member.
Making Insurance Easy
Homeowner’s insurance may be one of the trickier aspects that homebuyers face, and something they want handled correctly, quickly, and for a reasonable price. Having trusted insurance providers on your team will make the home-buying process go smoothly for all.
It’s a good idea to up your social media presence. Posts that demonstrate your deep knowledge of the industry will grab the attention of others in the field, and a sizable social following indicates you have a client base that other professionals will want to work with.
Targeting Title Companies
The role of a title company may be a tedious one — researching titles to protect against liabilities isn’t exactly glamourous. But it is a vital role. And as buyers often defer to recommendations from agents and brokers, good title officers and examiners should be on your team.
Networking will pay off in forging and cultivating good relationships with title companies. Try to schedule some in-person meetings with some, talking face-to-face about how you can make this reciprocal relationship benefit both of you. If distance is an issue, set up Zoom meetings to talk about potential partnerships.
Choose the Right Closers
Whether you’re working in a state which requires that an attorney be present at closing or not, closing professionals are key to completing deals. So seek them out. You might consider some creative email marketing with incisive updates on the industry. Look for closing professionals on social media and share their posts, add comments, and perhaps chat as the first steps in forming relationships.