Loan Officer Marketing - Why Realtors Don't Read Your Brochures
Written by: Jeffrey Nelson
When you place brochures from every mortgage company side by
side, you can't help but notice the similarities. Each piece
mentions that they have every possible loan program available,
proven & experienced professionals, fast & friendly service, a
list of documents needed to process the loan, a promise of
individualized attention and a commitment to professionally
serve the client.
This is fine and dandy for consumers, but what about your
brochure for real estate agents? If you're giving to agents the
same brochure you give to clients, does it help you stand out?
Probably not - and even if you do have a separate brochure for
agents, does it avoid the 3 most common mistakes?
Loan Officer Marketing: Brochure Mistake #1 - Feature-Driven
This is the colossal mistake with most brochures. Here's a quick
list of features often mentioned in mortgage brochures; loan
rates, APR, quality service, mortgage insurance, points,
refinance, payments, purchase, full service, originate, retail,
interest-only, option-only, ARMS, free quote, to name a few.
Features don't tell the reader anything. Sometimes it only
confuses them more about your service. When an agent reads your
brochure, they're reading it for one reason. They want to know,
"What's in it for them." If you've been in sales for a length of
time and have been a good student of it, you know that people
are interested in hearing benefits, not features. But wait,
there's a twist.
If you sell widgets, your brochure follows an old school
formula. It describes what the widget is (feature) and than
tells the customer what the widget will do for them (benefits).
Pretty simple, isn't it?
But you're in the mortgage business. Or better said, you're in
the service business. Wherein lies the caveat, when you sell a
service, it's invisible. You can't touch, smell or see it. Even
though describing the benefits an agent receives from using your
services is helpful, it's not enough.
If you want your brochure to make a difference, the kind of
difference that gets noticed by agents, than describe the
problems they have that you can solve for them.
It's a strange phenomenon, but dreadfully true. Agents are more
interested in reading about their problems than reading about
the benefits of your services, or features for that matter.
Loan Officer Marketing: Brochure Mistake #2 - Use of Jargon
Jargon is like, "Swahili," a confused, unintelligible language.
It's words that you understand, but leaves an agent clueless.
Jargon comes across as obscure and pretentious. Instead, keep
things in simpleton terms. Your brochure should focus on
expression, not impression. Using buzzwords, stylish words or
phrases can come off as pompous.
Jargon slows down or stops the reading process. Avoid it by
writing your brochure in a casual voice, as if you're having a
conversation with the reader. In English class you were taught
to write very formal, remember, your brochure isn't a term
paper, it's an opportunity to persuade and shape one's
Make use of pictures to communicate, they're only worth a
thousand words. Agents understand with their eyes. Graphs,
charts, photos, and pull quotes are examples of conveying or
supporting key points.
Everyone's brochure mentions good customer service. As an
alternative, use a flow chart to demonstrate your service, and
than support it with satisfied client testimonials.
Loan Officer Marketing: Brochure Mistake #3 - Me-tooism Disease
Don't take offense - most of us have this disease. You see what
might be working for someone, so you copy it for yourself. It's
easy to grab the leading competitor's brochure and copy some or
all of it. Years ago for instance, rate sheets were a hot
marketable brochure. You could distribute a few hundred and get
a respectable response. Well, when you have hundreds of loan
officers copying it, guess what happens? It wears out, but we
keep using it.
Me-tooism isn't worthwhile. Look at how much mail you're still
getting from other mortgage companies trying to get you to
refinance. And they use the same formatted letter as everyone
else. The letter specifically states, in bold print, how much
you could be saving, and includes an advertised low rate.
Sometimes it's printed in the form of a fictitious check ready
to be cashed.
Don't be afraid to be different. It's easy to use what others
have and challenging to come up with originality. But it's
originality that can earn the biggest reward.
The Power of a Well-Crafted Brochure
Like a good movie plot, a well-crafted brochure sets the
storyline in motion. It shapes an agent's perception before you
sit down with them - curtailing rejection and lessening
resistance. It provokes thought in their mind, making you more
memorable. And it helps you stand out and be noticed among a
About the author:
The Quick Payday Loan - Taking A Look At The Loan Agreement
A payday loan will require you to sign a loan agreement, just
like with any type of loan. Before you sign though, you should
take the time to read through all the fine print. Not only will
you learn your rights, but there is also valuable...read more
The Keys to Obtaining and Refinancing Your College Loan
How many of you are biting your nails trying to figure out what
you should do to get your college paid for? You know you need a
loan... but what kind? What are the differences? Would it be a
good idea to refinance or consolidate any loans you...read more
A Consolidation Loan, Friend or Foe?
If you have multiple high interest credit cards and other financial obligations, debt consolidation or some other debt management strategy may be in order. As you are by now aware, with a debt picture that includes so many high interest obligations,...read more
Return to Home