The Role of Social Media in the Mortgage Industry

This is a guest post by Georges Kfoury, founder and Chief Executive Officer of Leaderscorp Financial Inc.

Various social media network iconsSocial media is an integral part of our daily lives, both at home and in the work place.

Virtually every field has been positively affected by the usability and visibility that a substantial social media presence provides, and it has made it easier than ever for businesses of all sizes to succeed. The mortgage industry is no exception.

Whether you are a seasoned veteran in the mortgage industry with loyal referral partners or brand new to the field, social media can become an indispensable resource for both mortgage and refinance prospects in your local market.

Social media is important to expand your reach and build confidence with your target audience. In the mortgage industry, this can range from helpful links that will make searching for loans easier, news updates and opinions on the housing crisis, to tips on how to lower debt.

Value equals loyalty in social media and reaches a broader audience

to create a strong brand image of a trusted mortgage professional.

Why is social media so important in today’s competitive business world including the mortgage industry?

In today?s world, most business connections are made and strengthened online, rather than through face-to-face communication. Whether you?’re choosing to establish a blog, send out a weekly newsletter informing clients of updates, building a website, or creating a presence on a site such as Facebook, you?’re not only raising visibility – you a?re making it simpler to keep in touch.

Social media allows you to share relevant information with

those who truly want it, without being invasive.

How does social media help mortgage professionals?

Most mortgage professionals say that social media can help their business by:

  • ?Building referrals via social networking (online word of mouth marketing).
  • ?Finding new borrowers and referral sources.
  • ?Staying in front of competitors.
  • ?Demonstrating their expertise in a competitive field.
  • ?Staying better connected with existing referral sources and borrowers.

How can you utilize social media in the mortgage industry?

  • 1) Directly connecting with your target market

You can use social media sites such as Twitter, Facebook, LinkedIn and Google Plus to get into direct contact with potential leads. Even though outright selling is frowned upon, these networks are a remarkable way to network when used correctly. Just remember that what is important is that you are offering something useful to your followers. When you do, they will keep interacting with you.

  • 2) Securing and becoming an authority

Gaining trust and loyalty with your customers is a tough job. It takes time and character that is acceptable to society. Naturally, customers gravitate towards those that appear to have authority status. Even if your mortgage business is in Podunk, America, it does no?t mean that you can no?t rise to superstar status online. The key is utilizing social networking to your advantage and offering your visitors something they cannot find anywhere else.

  • 3) Instant lead generation

Perhaps the most powerful aspect of social networking for those in the mortgage business is the ability to instantly find quality leads without having to pay for them. This medium is not only affordable, but it?’s easy to master.

The times are most definitely changing, and the average consumer is fast-paced, plugged-in, and accustomed to having a wealth of information at his or her fingertips. In order to conduct business in a way that makes you appear professional, knowledgeable, well-educated, and honest, it must also appear that you’?re willing to share what you know freely and openly.

A strong social media presence will not only impress potential clients and make you more attractive to those considering working with you in the future; it will help you retain the clients you already have. In an industry where the strongest survive, it may just be the advantage you need.

About the Author,

Georges Kfoury is the founder and Chief Executive Officer of Leaderscorp Financial Inc. headquartered in Rancho Cucamonga, CA, a leading provider of mortgage refinancing dedicated towards providing affordable home loans. He founded the company way back 2003 from a ground level, without having the mortgage background. In spite of this, he was able to immediately take the company a level of generating annual income ranging from 8 to 10 million dollars.

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