As a small-balance commercial broker, you have an opportunity to grow your business by leveraging your most important asset: yourself!
Developing a strong brand identity isn’t easy in today’s market. You’ll need to differentiate yourself from all other mortgage professionals and stake your claim as someone uniquely qualified to provide small-balance commercial solutions for investors and small-business owners.
If your business lacks any kind of brand identity — or you’re looking to strengthen your existing brand — the following 3 steps can help you get the attention of potential clients and referral sources.
1. Differentiate Yourself
Just like any other company, product or service, how you choose to differentiate your brand from the rest of a very competitive mortgage marketplace will have a great impact on your success.
You probably already differentiate yourself from others by marketing your skillset as a mortgage professional. But are you also maintaining a consistent visual theme in all of your communications? Color, taglines, and specific keywords are all important factors that can set you apart from the competition.
Do some research to see what others in your field are doing and then work to create a unique brand identity for your business.
Try sticking to one or two colors for all of your collateral, and be sure to be consistent with your logo placement. You can also differentiate yourself by creating a unique “call to action” at the end of your communications. The goal is for your target audience to immediately identify your marketing materials by the way they look and the claims they make.
Once you land on a design for your messaging, take the time to understand all of the small-balance commercial offerings – including SBA, Fannie, Freddie, FHA, life companies and non-bank lenders – so you can further differentiate yourself with value propositions that match each program.
One last thing: be patient! Potential clients and referral sources will need to come into contact with your brand several times before you make a lasting impression.
2. Diversify Your Product Offering
The lending products you provide — which include both the nature of your services and the sheer number you’re able to offer — also help make up your brand.
It’s important that you build a stable of lenders with multiple financing options for your clients. This will allow you to build your clientele and your business.
If you’re not already transacting with small-balance commercial mortgages, try adding that capability to your messaging. Small-balance lenders like Silver Hill work to make the transaction process as simple as possible, so you can feel comfortable marketing yourself to small commercial borrowers.
Having a well-rounded portfolio of financing options to offer clients will position you as a thought leader in the industry. If you can successfully work with multiple lenders and are able to offer your clients more and better options, you will be seen as a key to success for their business.
3. Build Your Reputation
The brand you create for yourself should be an extension of your reputation as a mortgage solution provider.
Building a strong reputation is a two-step process. First, you need to deliver on your promises and get your clients the funding they need. Keep in mind that this goes beyond finding them the lowest rate. The most successful mortgage brokers learn everything they can about their clients in order to find terms and options that meet all of their needs.
The second part of building your reputation involves promoting your successes. If you found a take-out solution for a client stuck in a short term, hard money loan, don’t keep it to yourself. Share closed loan tombstones and client testimonials on social media channels and include evidence of your success on your printed collateral.
Your happy clients will tell others about their positive experience with you, but you don’t have to wait for word to travel through the grapevine. Build your reputation yourself and expedite your network’s growth.
Get Additional Help from Silver Hill
You can’t build a strong brand overnight. But you can accelerate the process by working with a lender that makes broker marketing tools a top priority.
The Silver Hill Marketing Toolkit is a great example of the assistance we provide to mortgage brokers. The toolkit includes resources designed to help you market yourself as a small-balance professional, whether you’re new to the business or an experienced broker. Included in the toolkit are:
- Email/phone scripts for prospecting clients and referral sources
- Customizable flyers
- Tips and tricks to help you reach various small-balance referral sources
Our team at Silver Hill understands the importance of effectively marketing your ability to close small-balance commercial loans, and we’ve worked to include tools that can make a difference for your business right now. You can download our free marketing toolkit here.