In Australia, mortgage brokers often find it hard to gain leads. In this article, we listed 11 lead generation ideas to help brokers generate leads
Updated June 6, 2024
Generating leads for mortgage brokers in Australia can be a challenge for many. As the number of mortgage brokers keeps increasing, the competition becomes even more intense.
On top of that, there is a huge amount of mortgage marketing messages and advertisements that potential clients see every day. In a crowded market, it can be difficult for brokers to stand out and make their offerings noticeable. As such, they need to find new ways to capture the attention of their target audience and turn mortgage broker leads into loyal clients.
Lead generation techniques that produce results are important for brokers who want to thrive in the mortgage industry. By using a combination of digital marketing, networking, and personalised outreach, brokers can also increase their visibility and connect with more qualified leads.
This article aims to provide mortgage brokers with fresh ideas to gain potential clients and effective strategies for lead generation to help them become successful in their career. Mortgage Professional Australia lists 11 lead generation ideas classified into three categories: personal interactions, online lead generation, and direct purchase.
Personal interactions
This category deals with face-to-face engagements of brokers with other mortgage professionals, real estate agents, and other key players to build networks. Personal interactions include:
Asking for referrals
Perhaps the simplest way to gain leads for mortgage brokers is to ask for referrals. A good way to get introduced to potential clients is to ask family, friends, and even previous coworkers for referrals. You also ask for referrals from your clients, especially those you have solid relationships with. This approach rewards and incentivises referral customers.
Creating leaflets and mailers
Creating leaflets and mailers to leave in local real estate offices, for instance, will help you to promote your mortgage products. It is also a great opportunity to build strong working relationships with real estate agents.
Attending networking events
Mortgage brokers need to attend networking events. It is an integral part of finding new leads. If there are any networking events near you, you can do some research and try to attend. Having an ample number of business cards at the time to pass on to anyone you meet will help also.
As part of your research, it would be good to look for leads on divorce lawyers. They often know of properties to handle after couples’ divorce, for instance. A good place to meet divorce lawyers is by joining your local Chamber of Commerce.
Clueless on how to network? Watch this video about networking etiquette tips for professionals:
Here’s a fun, creative way to network: organise trivia night like this broker did!
Online lead generation
For the second category, we have online lead generation. This means making an online presence to establish your mortgage business and leverage on the internet to generate leads. Effective tactics for online lead generation are the following:
Creating quality content that's helpful to your potential clients
One of the better tips for mortgage brokers, particularly nowadays, is to produce a website offering useful and relevant content. Creating quality content is an ideal way to gain leads and drive traffic. More people will look to your expertise and help from your business when you answer common questions from the public about the mortgage industry.
Creating quality content could include engaging content like infographics, checklists, videos, and images. These various forms help potential customers digest the information.
Making personalised landing pages
One of the best ways to generate leads online is to create and personalise landing pages. You can view it like a sales page for your freebie. Your landing page is a chance to convey your expertise—and your value.
Your personalised landing page does not need to be a copywriting masterpiece, by any means. Your landing page could simply be a headline, an opt-in form, and a call-to-action button. Later, if you want to be more persuasive, you can add copy and links.
Using social media platforms
Do you want to gain new leads and market yourself? Using social media is a great, simple way to do both. LinkedIn, X, Facebook, and Instagram (to name a few) will help boost your online presence, getting your business—and your name—out there. For instance, LinkedIn and Facebook advertisements can help you target specific people that will benefit from your expert posts.
Engagement, after all, is critical in building a loyal following. Engaging with your customers with helpful content will help them better learn what they are looking for. To do so, posting consistently is key. That will show people you are a reliable source of information.
Categorising leads
Learn how to categorise leads into market qualified leads (MQLs) and sales qualified leads (SQLs).
MQLs are leads who have used your website to sign up and are customers who want to hear more information from you. For this reason, it is important to ensure that you are supplying them with the info that will help them navigate any issues.
SQLs are customers ready to buy after already having done the research and contacted your sales team.
Writing a book about mortgage
Writing a book about mortgage is admittedly one of the more advanced lead generation techniques on this list, since it requires you to write a book, market it, and rank it on Amazon. An easy way to start this process is to:
- select a topic related to your niche
- read other books with a related topic
- decide how you can improve upon them
To simplify this, you can read customer reviews and track any issues that seem to arise again and again.
To market your book, you can do cold emails to reach podcasters, bloggers, and influencers in the real estate space. Offer a review copy of your book and follow up to see if they can promote it to their audience, review it, and interview you.
Setting up a Google My Business page
Creating a Google My Business page will boost your SEO (search engine optimisation) and make sure that you and your business show up in local Google searches. Creating a Google My Business page will also build your credibility when customers review your business. It will allow you to add additional information like:
- address
- business hours
- contact information
- your products and services
Get some tips from 2021 Broker of the Year Louisa Sanghera on how to take ownership of your online strategy.
Do online web forms
By doing online web forms and generating qualified mortgage broker leads, you will become known as an expert in your field. In other words, you will position yourself well with potential customers if you offer educational and authoritative content.
You can also create multiple forms of these types of content such as videos, graphics, articles, and infographics, among others.
Direct purchase
For the third category, mortgage brokers who have can spend a few dollars can directly purchase leads:
Buying mortgage broker leads from lead sellers
If you want to skip the work and get leads in an instant, try buying from lead generation companies and mortgage lead sellers. These professionals will send you a list of possible clients for you to contact. Another perk is that the leads have already been researched and profiled, saving you time and energy.
Lead generation companies and mortgage lead sellers will ask for a fee and the relevant information, such as who you want to target and their contact details. After that, they will send the list, complete with whatever specifications you want.
Just make sure that the company or seller is legitimate to avoid getting scammed. Also, research on feedback from their clients about the quality of leads they provide. Bad leads can damage your reputation as a mortgage broker. It can also be a fruitless way to spend your time and financial resources.
How much do mortgage broker leads cost in Australia?
Mortgage broker leads costs are dependent on the lead generation company or mortgage lead seller. High-quality leads are obviously more expensive. Below are some factors that dictate the prices of these leads in Australia:
- lead source
- location
- quality and exclusivity of the leads
- volume or bulk pricing from providers
- competitiveness of the local mortgage market
Why is it difficult for mortgage brokers to get leads in Australia?
Many Australians are skeptical and will often shun random mortgage advertisements. They will raise their brows at cold emails and other sloppy lead generation tactics especially when it comes to something as important as a mortgage. They want to feel in control of the process and may be less responsive if they are approached with aggression.
Here are other reasons why lead generation can be difficult for mortgage brokers in Australia:
Australia’s mortgage industry is heavily regulated
There are rules and regulations set by the Australian government, and mortgage professionals must abide by them. Mortgage brokers must be careful about collecting and using clientele data for lead generation.
Client preferences are changing
Australian homebuyers are becoming more tech-savvy. They now turn to online platforms and digital tools to research and compare mortgage options instead of hiring a mortgage broker. This is why it is important to establish your career online.
Limited geographic reach
Many mortgage brokers operate within a specific geographic region in Australia. This restricts their ability to generate leads from a broader pool of possible borrowers. Learning about other regional mortgage markets will open doors for more opportunities.
Seasonality of property buyer and seller’s demand
The Australian housing and mortgage market can be subject to seasonal fluctuations, with periods of higher activity followed by slower periods. Being up to date with these changes can help you stay afloat, especially during seasons when demand is low.
These reasons and more are why mortgage brokers in Australia are expected to get creative in their methods. They must be passionate about finding ways to generate high-quality leads that convert into actual customers.
Turning mortgage brokers leads to loyal clients
The goal of doing mortgage lead generation is to land potential clients and make them your regular customers. To do this, it's important to focus on building long-term and meaningful relationships. Be a mortgage broker that delivers results and never do anything that can harm your reputation. Always maintain your integrity as you explore the mortgage industry in Australia. Develop an efficient work routine and good habits for success.
The tips we shared will help you stay relevant despite many changes and difficulties. By positioning yourself as a valuable financial resource, you can turn one-time mortgage broker leads into loyal clients.
Do you find these tips on getting leads for mortgage brokers helpful? Comment below if you have other strategies that may assist brokers in lead generation. We’d love to read your insights.
