Blog Post: FREE LEADS* & What You Can Do to Build Your Mortgage Business

The biggest question I am asked when I speak to people about working as a mortgage broker for Clarion Mortgage is, "Do you provide leads?"  When a broker asks that question, that tells me they are either dependent on someone else for their business, or they are desparate.  One may respond with the fact that the market is slow right now, so leads are a good thing to look for in working for a company.  But, in my research I have found that the companies who provide leads for free pay an average of a 50% commission on a closed loan.  And, often times, there are additional fees the company takes out of the commission.  So, the broker is going through 100's of leads to get to one closing and then making the absolute minimum on the closed loan.  Does that sound like, look like, or even seem like a good opportunity for you?  Not to me neither. 

Did you know the mortgage brokers who close the most loans are the ones who establish relationships.  They develop personal relationships with their clients, realtors, title companies, account executives, and everyone around them.  All of those people own homes, or know people who do that may need to refinance in the very near future.  And, if you are the one talking to them and befriending them, they are going to come to you for the loan.  They also know people who are in the market to buy something.  Today is a buyers market and Orlando is still one of the fastest growing cities in the country, so people are looking for homes.  Are you building relationships with these people? 

You may feel like I am getting in your face a little.  I am.  Once upon a time the phone rang with business for you without having to do much.  It was a fairytale romance in the mortgage industry.  The fairytale is on hold until Part 2 comes around.  But, those lasting in the business are about building relationships with people and taking care of those individuals. 

So, I have shared with you a simple principle to get some FREE LEADS*.  If you are looking for more free leads and want to know how to make over 100% of your commisision, contact me and we will talk about it.  You can request more info at Clarion Mortgage, or contact me through this website.

To Your Success!

Brian Lancaster