Mortgage Brokers and Social Media 101

When the words “social media” come to mind, some mortgage brokers will undervalue its importance even now. “Why would I need to invest my time with social media?” or “I don’t know how to use social media” might be common thinking.

However, social media usage is a fantastic way for brokers to market themselves and communicate with their clients simultaneously! This article will discuss why having a social media presence is important, how you can use it to your benefit (even as a beginner), and how to avoid common pitfalls.

1. Choose the right channels.

You can use one or many social media channels, the most popular ones being Facebook, Instagram, and LinkedIn. They all target different interests and be utilized in different ways. Remember, the keyword in “social media” is social, so you want to connect with new clients and not seem like just another broker.

For example, LinkedIn will be sure to have you connect with other brokers, especially if you consistently update your page with self-written posts or comment on other’s posts. Facebook or Instagram will be more client-facing as clients will be able to search you up and land on your page. The more information there is about you, the better. Make sure all your details are correct!

2. Engage your audience.

Engagement, Engagement, Engagement! There is very little value in having a social page open if you don’t encourage any attention from your audiences. So, begin spreading the word of your new page to your friends and family, and start building an audience that will help reach more people over time as your content is shared and commented on.

Have fun with your page by including links to relevant articles, holding contests, or posting your own information that resonates with your audience. If your brokerage has a Google page, ask your client to leave you a positive review. There’s nothing better than referrals that you can post on your page!

3. Know the law.

Be aware that copyright infringement, plagiarism, defamation or violating privacy rights can land you (or your brokerage!) in hot water if you engage in those activities through social media. In addition, remember that anything you post remains online in perpetuity – even if you delete it – so carefully consider every item before you hit “Enter.”

4. Keep some things offline.

It may be easy to fall into the trap of communicating everything on social media – even private matters. However, it is essential to keep professionalism in mind and remember that the number one role for your social media is building your networking community as much as possible. Therefore, keep your personal social media pages separate.

5. Be prepared for possible negativity.

Social media can be unpredictable. For example, you will have finished what you thought was a great experience with your client when suddenly you see they’ve posted a negative review on your page. If this occurs, consider communicating with them over the phone to find out what went wrong and if they could consider removing the review. Other forms of online communication, such as email, can have your tone misconstrued.

6. Be patient.

Remember, a social media strategy is not simply creating a Facebook or Instagram page and having your hours listed, with a couple of pictures and updates every few weeks. Some time and effort will need to be invested for you to see success. This means being patient and not giving up because you do not hear your phone ring immediately after launching your page. After some time, you should begin reaping the rewards of your efforts. Further, the more time you spend with social media, the more comfortable you’ll be in exploring new ways to interact with your audience.

There you have it, six ways that mortgage brokers can navigate social media to their advantage! For more articles, read what questions are important to ask a mortgage lender as a mortgage broker here.