First impressions can easily make or break a relationship. These days, first impressions are more likely to occur online—not during a first hand shake or phone call. Your LinkedIn summary is one of the most essential and useful tools you can utilize to leave a positive digital first impression.
In the final segment of our social media advice for brokers, you’ll learn the importance of utilizing additional tools to bolster your social efforts and how to convert social leads to real-life business.
We all know first impressions are important in the business world. It’s why we dress up for job interviews and rehearse our presentations before meeting with a new group of potential clients.
The problem is that these days most first impressions occur long before you meet face-to-face. Referral sources and prospective clients in today’s market search your online presence to see if they should make the effort to meet with you. If your profiles are incomplete, uninteresting, or out-of-date, you could lose their business.
Do you ever get those solicitation emails from social media gurus? The ones that invite you to pay big bucks for a course that will teach you how to market your business on every social channel? The problem is that most of these gurus can’t tell a rent roll from a dinner roll. They think seasoning is what you put on steak and a balloon is what you get on your birthday. In other words, they aren’t familiar with the mortgage industry. The thing is, social media platforms like LinkedIn, Facebook, and Twitter provide a real opportunity for brokers to expand their network and grow their business. But you won’t get the most out these channels by adopting generic networking strategies.
Stop me if you’ve heard this one before. Your borrower owns a mixed-use building and has a 30-year mortgage with a well-known bank. They consistently made their payments for the past five years, but now they’ve reached the end of the balloon term and it’s time to refinance. This has never been an issue in the past, but now the bank’s lending guidelines have changed and your borrower’s property falls outside their shrinking footprint.
As you grow your commercial trade, you will want to add several lender types to your “stable” to be able to serve a broad range of scenarios. You will become an expert in their programs and you will be able to match borrowers to the right lenders and programs with amazing speed. Here are three steps to help you quickly find the ideal lender and program every time.
Ready, set, go! Your plan is in place, you’ve positioned yourself to diversify by offering small-balance commercial loans, and now it is time to source those first few transactions. We suggest starting with who and what you know – making potential loan opportunities easier to find, and getting you off to a good start.
Opportunity. When it knocks, are you prepared? If you are a mortgage broker seeking an opportunity, here’s a knock worth a listen: small-balance commercial real estate loans.