Have you ever opened the fridge at breakfast and there waiting for you was this beautiful looking loaf of bread, that at first glance looked so ready for a heavy layer of Nutella, following an epic toasting and coupled with the best coffee you have ever sipped? When you pull it out, you open the bag only to find it is hard as a rock with a hint of mold on it you were just sure refrigerating it would prevent?
That bread is as stale as the typical lead generation training North American mortgage professionals receive today. The old days are long gone. Especially now.
We have been way more vocal about this lately here at Mortgage Magnates (I invite you to read last weeks articles) but this tepid pool of over used sales ideas and cliches has to change.
The modern mortgage professional is not simply making calls, not making contacts on the phone, not using the traditional antiquated methods of traditional sales tactics and platforms as their sole method of lead generation, so why are you?
They are shaking the very ground the mortgage professional career walks on and from our perspective? We are all in.
Are we about to give advice that really should be behind our pay wall? Probably. But have you met us? It is about “Brokers. Helping. Brokers.” and we mean it. So together, let’s call out what is really happening with the most successful mortgage pro’s today. It’s social media. But not in the way you might think.
You can post and seek the coveted like and comment all you like, but nary the odd lead may come from that.
The secret top pros don’t want you learning about is the direct message. But it is not the size of the boat folks, it is the motion of the ocean.
Some of the top mortgage pro’s are squirming right now because they fear this best practice is going to get out.
Oh and no, we are not about to set up a fake white board 10 minute video about this that only in the last 60 seconds tells you a brief tip, only then asking you to buy a course.
Let’s get to brass tax, right here, right now.
This theory all started 48 years ago…just kidding. When we say brass tax here at M|M University, we mean it. So let’s talk being “all up in clients DM’s”.
The basics are this…connect to clients on social…and no you don’t have to Tik Tok or require yourself to be on Instagram. The beautiful thing about each social network is there are millions of members on ALL OF THEM. So pick what is comfortable. If Facebook is your jam, do that, if Instagram suits your fancy, do that. Almost all platforms have direct messaging.
Your competitors will tell you, “oh sorry, all my success comes from (insert social platform they know you are not on here)”
Use what’s comfortable for you and absolutely own the damn DM’s friend! We believe in you!
So what’s a bad DM? Take a look…
Thanks for the follow. I am a mortgage broker here in town and would love to give you the best rate or refinance your mortgage to roll in some debt or help you buy that investment property. My number is 1-800-dontgiveadamn and my email is firstname.lastname@example.org”
Is it inherently bad? Not at face value, but let’s look at one that was shared with us and we were given permission to share in this article (and has generated huge leads).
Love the post about Lindsay’s art she did at home the other day! So great to see her kicking butt in school as always, even from home right now. Just wanted to check in to see how you, Melinda and the family are doing. Crazy times we are in. As you know, my big thing is helping people take care of some of their debts and find solutions to bring down their housing payments, renovate their home, etc. You can imagine how crazy the requests are right now, so busy as always! Anyway, hope all is well, let me know how things are going!
Way better? You bet! In a million ways.
It combines personalization, attention to the actual client and an elevator pitch all in one DM!
Get the client to say “tell me more”. The goal is only…and always, in an initial DM, to illicit the response: “tell me more”.
NOT AN APPOINTMENT. Stop jumping the gun and do this right. You will thank us later.
What was Wrong With the First DM?
Not much…except that you could have sent it to anyone and as a savvy modern client, I know you likely did send that to every follower. Nothing in the first message was personal, other than my name, and you mentioned your title, so I am out…you are clearly trying to sell me so guess what? No reply.
Why was DM #2 the Winner?
If you haven’t already figured it out (and we have faith in you, we believe you did), the second DM is head and shoulders better than the first.
It is personalized not just with name, but a reference to one of their actual posts which signifies you are paying attention and frankly my dear, you give a damn.
You don’t have to go back two weeks to be extra personal here (we see you over eager keener newbie…just keep it simple). Pick one of their last three posts to reference. Any further back and you run the risk of “creeper” status.
Next, ask how they are doing. Plain and simple because hey kids….clients want to be cared about.
Want to differentiate yourself? Use caring and kindness and oh by the way, mean it. When they respond to that question, pay actual attention to the reply.
Lastly, titles kill sales! This second DM makes no mention of your title, just what you do and how you help people (ie. the perfect elevator pitch). It beautifully entices the “tell me more” response. Bammo, that was the bloomin’ goal in the first place! See how we rocked this together?
But What do I do When they Say “Tell Me More”?
The simple answer? Tell them more! Just remember to reply by asking to meet in person or in today’s world…via call or Zoom so you can tell them more but also advance the relationship and gain commitment to working with you.
Mortgage Pro’s: This is not rocket science. We will never make it that way. As an industry we sometimes over complicate sales to fill the pockets of the gurus. You don’t need 4 hour calls or 3 day courses to teach success. You need actionable items you can use in the next 15 minutes. Hens the existence of us! Mortgage Magnates is about burst training which means a quick flash of actionable items that you are out using with actual clients 15-20 minutes later. You will never find any streaming content on here that you have to commit an afternoon too, nothing you have to review 6 pages of scratchy hand written notes a week later to decipher and recall what you need to do. What a waste of business building time and client time.
Join the industry’s only streaming service, M|M University or don’t, it’s up to you, but we can help. Let’s grow together.