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Marketing Mistakes Mortgage Agencies Make

Most people live with the reality of paying off a mortgage. Whether to afford a house, a car, or a big-ticket item, people are going to need a mortgage loan to help them pay for it. The widespread demand creates an incredibly competitive mortgage industry. Whether the economy is going up or down, people will always need access to funding. 

Borrowers come in all forms and from all walks of life. If you want them to choose your services over your competitors, you need to connect with them in a manner that resonates with them. Like any product, people need a reason to trust and believe that your service will help them. 

Some people find it difficult to know who to trust when it comes to financial advisory. Your brand needs to demonstrate a high level of credibility and authority to attract their attention. Customers tend to be wary of agencies that are too forward and aggressive. They don’t want to feel like loan companies are going to take advantage of them. 

When it comes to your company’s mortgage marketing, lure clients in and allow them to decide that your agency is the right fit for them. If you don’t want to turn customers away, here are several mistakes you should steer clear of:


Aggressive or hard-sell tactics

Buyer’s Remorse applies to people who immediately regret a purchase after realizing that a deal wasn’t one at all. Mortgage borrowers are no stranger to remorse. They need to know what they are getting into, so stay away from hard-selling tactics like asking them to commit before they can get access to special 


Offering them mortgage products, not assistance

People are more likely to be loyal to agencies who help them solve their unique problems, not push products. Customers want help to make sure their hard-earned money doesn’t go to expensive rates or excessive fees. Don’t focus on selling them loans or financial products. Listen to their unique needs and help match them with solutions. 


Forgetting to ask for customer testimonials

Credibility is a precious asset of any financial advisory firm. Tooting your own horn can get people’s attention, but you need testimonials to get them to believe you. After a successful transaction, don’t forget to ask your clients to send their feedback. Happy clients will be glad to give you a glowing recommendation that can help build up your reputation in the industry.


Not having an online presence

According to one survey, when it comes to property buying, 90% of customers begin their journey online. With so many people relying on the internet for information, you need to ensure you throw your name in the hat as well. They browse the internet for available properties, information on mortgage loans, and financial advice. You can increase your business’ visibility with a business listing, website, and social media profile. Provide potential customers with a digital platform to reach out, and you can increase your chances of securing leads dramatically. 


Neglecting your network

One of the best ways to source leads and future clients is to tap your existing network. Don’t make the mistake of investing too heavily in new clients. Reward your repeat clients with loyalty programs that incentivize referrals and discount successive purchases or deals. 

To get your mortgage business noticed, you need a competitive marketing and branding strategy. Credibility, visibility, and loyalty are vital assets to any branding strategy for a financial firm. Focus on these areas, and you can build up your client base in record time. 

Are you looking for the right branding agency for your mortgage business? Our plug-and-play marketing services can integrate seamlessly into your agency. Visit our website to get started. 

Topics: Mortgage Marketing