TheMReport — News and strategies for the evolving mortgage marketplace.
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FEATURE ORIGINATION strategy. Becoming the respected leader in your market is a big part of attaining your goals. 03 IMPLEMENT Once you're clear about where you are and where you want to go with social media, the next step is simple. Just do it. If you can, make it easy on yourself. There are a number of tools on the market that can help you organize and streamline your strategy. "I currently have over 3,400 real estate agents on my [Facebook] page," says Scott Nicholson. A Mortgage Coach client for years, Nicholson had posted a Mortgage Coach EDGE update on his page in the morning and by the end of the day, it was shared by 24 agents who together reached more than 7,000 new potential buy- ers. "This huge reach is the very nature of social media, and it cost me nothing," he says. Another Mortgage Coach cli- ent, Michael Deery of Citywide Financial in San Diego, is a member of 12 private real estate industry groups on Facebook. "When a Realtor posts an open house flyer, I push out a simple [Mortgage Coach] EDGE Open House report," he says. "I show group members that they can take the link and report into other groups, share it in email blasts, and print it for walk-in clients. These flyers reach far, far more eyeballs and are leaps and bounds beyond what my peers are doing." One day, a radio DJ asked, on the air, for help selling his home because he wasn't getting any offers. Listeners called in, offering advice that ranged from paint colors and staging to putting a statue upside down in the yard. "I called and offered a real solution," says Deery. "A few minutes later, we had an EDGE open house flyer posted on the radio station's Facebook page." The point is that social media is about connecting. Once you have an online presence, you can easily infiltrate the mainstream media the moment an opportu- nity arises. An important step is to find a technology that removes the hur- dles for even the most technologi- cally challenged loan officer—and there are plenty of options out there. This isn't about positioning yourself as the coolest, hippest LINKEDIN LinkedIn is a profes- sional networking com- munity. Make sure you have a quality, detailed resume uploaded and consider it your international resume in the cloud. Listing Facebook. Chances are, you have a personal page where you con- nect with family and friends and mix in a little business. As a mortgage professional, Any originator who does not fully commit to social media is going to, sooner rather than later, find him- or herself losing a huge share to those who do . . . With all of the social media tools on the market today, no one has to be a dinosaur. mortgage professional on the block. This is about infusing the lending industry with creativity and opportunity. "The bottom line is, whoever most effectively communicates with their custom- ers will earn the lion's share of the business," says Deery. Starting Points W ith so many social media communities, it can be difficult to know where to begin. Start by mastering the basics: LinkedIn and Facebook. your professional qualifications and history here generates trust, credibility, and connections with peers, potential clients, media, and more. Not having a LinkedIn profile is a huge missed oppor- tunity. It takes less than half an hour to create a professional pres- ence and it costs you nothing. FACEBOOK It's hard to argue with nearly 1 billion users, which makes Facebook the biggest free marketing tool in human history. Odds are pretty good that if you're reading this article, you're already on however, consider creating a Fan Page where you can conduct business communications and share your professional perspec- tives and insights with pros- pects and peers. Don't let the "Facebook veterans" intimidate you. There are tools you can use to easily create a visually striking Facebook presence that deliv- ers high-value content directly to your audience's desktops and mobile devices. Facebook alone can easily become your primary source of new lead generation. Think of your Facebook presence as you would a phone number. Focus on quality over quantity. You can spend a ton of money and buy a bunch of fans but that's just noise. Think organic. Build slowly. Put your Facebook page on your cards and flyers. Mention it to Realtors, clients, and prospects. When it comes to solid value, organic growth is the name of the game. Easy Does It D on't let social media overwhelm you. It doesn't have to be a big deal. While mere minutes a day can change your career, you shouldn't be spending more than 15 to 30 minutes per day on social media. Just 500 Facebook followers (homeowners, Realtors, fellow originators) can make you the top-of-mind loan officer in your marketplace. If you are out of the social media loop, now is the time to catch up. Any originator who does not fully commit to social media is going to, sooner rather than later, find him- or herself losing a huge share to those who do. Even the biggest, most suc- cessful originators will feel the bite if they fail to adapt quickly. With all of the social media tools on the market today, no one has to be a dinosaur. THE M REPORT | 43 ORIGINATION SERVICING ANALYTICS SECONDARY MARKET