There’s never been a time when it was easier to get mortgage leads than now. I remember when I first started selling loans in 2003, I would pick up the Sunday newspaper and call all the realtors that had houses advertised. Every Monday I’d spend 5 hours cold calling agents trying to set appointments. It worked, but it was a major grind as well as exhausting.
In 2008 I was introduced to Facebook. I immediately fell in love with the site. Originally I started posting about my mortgage success on there, in hopes that my ex-wife would be creeping and see that I was successful without her. Out of those posts though, other people hit me up asking me to help them get a loan. Before I knew it, I was closing 10+ deals a month from Facebook and this was in 2009.
In 2010 I left the mortgage industry after closing 183 loans in 2009. These were loans I had personally closed all by myself. No team. No branch. Nothing like that, just me and a 63 year old assistant closing a deal every other day of the year. I left to start teaching FB marketing to MLOs. Since then I have helped 1000s of loan officers close loans from social media.
If you work as a loan officer and you’re not closing loans from Facebook, you are missing out on a goldmine. If 64% of Americans own a home and the other 36% want one, that means that 100% of your Facebook friends are prospects for a mortgage at one point or another. At amy given moment, 3% of your friends online are ready to get a loan, your job is to always be in front of 100% of your audience so the 3% know who to get a loan from.
I’m about to share with you the 5 best places on Facebook to get free mortgage leads. Remember, it’s one thing to know all of this, it’s another to do it. So after you read the rest of this article, be sure to go on Facebook and actually do the stuff you’re about to learn.
Garage Sale Groups: These groups are all over Facebook. Every city and most neighborhoods have a garage sale group on Facebook. The main reason anyone has a garage sale is because they plan on moving. Sure, that’s not always the case but it’s often the case. Staying active in these groups will surely lead to an inbox flooded with leads.
Use The Search Bar: The Facebook search bar is the most underused thing on the site. You can literally find anyone talking about anything. Search the bar for “new home” and it will pull up all the people who are talking about new homes. This is where you engage them and let them know what you do. You can do the same for “refinance” or “home equity loan” or whatever you can thank about. FB will pull up all public posts with your keywords.
Real Estate Ad Comments: When you see ads from local agents, zillow, or something similar, there are usually a ton of comments on the ad. These comments are all leads and if the owner of the ad isn’t paying attention, you can swoop right in, comment on the ad and connect with the people who show interest in what the ad is offering. We call this “stealing traffic”.
Realtor Biz Pages: Most real estate agents have a fan page or a business page that they post to often. These posts are usually filled with comments from clients, referral sources and vendors. You can set up notifications for these pages and watch each post for commenters to engage with. It’s all a matter of being there where the action is.
Posting Correctly: If you think about it, the TV, radio, and everything else follows an ad format. The format goes 80% for them and 20% for us. TV does 13 mins of the show, then 3 mins of commercials. You should post on your page accordingly. Share content your audience will engage with, then every 5th post or so mention your loan business. This is how you push-pull in prospects to your DM.
If this is the first time you’ve ever considered using Facebook for your mortgage business, you are far behind some of your competitors. I’ve seen Facebook take a MLO from $1M per month in production to $10M per month. Facebook is the biggest network in the world, if you use it right you can make major money from it. Your network is your net worth.
If you want to learn cutting edge ways to close loans, attract leads and have real estate agents chasing you down like a hound dog on a fox, join our Entoruage program. You’ll learn the latest FB marketing and even how to build sales funnels to attract agent referrals. This is the most powerful network and program you can find. Find out more at www.breakfreeacademy.com/entourage
