The right marketing for your mortgage broker business

Many people in Canada choose to work with licensed mortgage brokers rather than with banks, because through professional brokers they enjoy a larger variety of options and sometimes even more flexible terms and conditions. Licensed mortgage brokers can either work for lending centers or mortgage companies or they can work independently. If you want to be in business by yourself and work as an independent licensed mortgage broker, then you need the right marketing approach to build a steady client portfolio and stay competitive. Furthermore, if you are specialized in offering mortgage for Canadian military personnel or individuals working at the Department of Defense, then you need to build your marketing strategy in accordance. To that extent, you need to know exactly what your target audience is and what you can offer them distinctively from other professionals in the field.

 

First of all, determining your target audience is not a difficult task if you specialize in mortgage for Canadian military, as it comprises families with at least one member being in the military and that face government relocation. It’s better to address families and individuals, because as an independent broker you can offer them something banks or financial institutions can’t, that is personal focus and attention, which families are more sensitive to. In fact, your entire marketing strategy should be based on this: human contact. You have the time and resources to be personal, to be close, to relate to the family’s needs and stress due to always having to move around and relocate because of the different military postings. The more you focus on marketing your services as customized and personalized, the better you will be able to draw the attention of clients in need of exclusive consideration and care. Of course, your marketing approach needs to be sustained by your professional conduct and your real approach to the service, so be sure to live up to that standard you are promoting. Handle every situation like it was your family and take the time to walk people step by step through the process, as taking on mortgage loans can be a confusing and overwhelming process for some.

 

As you will have well established and experienced banks or financial institutions as your competition, or even more experienced licensed brokers, you also have to be able to offer your clients a better deal, which means lower rates, especially in the beginning. After you’ve build up a reputation and a solid client portfolio, you can start thinking about raising your commissions and aligning your business to the market. The bottom line is that if you are a licensed broker offering mortgage for Canadian military, then you will be able to make a nice earning on your own, provided that you know how to market your services well and who to market them to.