Originators should absolutely be using social media to bring in business. But how can you use it well?
I am hearing more and more about social media alternatives to bring in business. I am older and really have not participated in things like Facebook. Should I be making this a focus?
-- Al from Georgia
The answer is absolutely yes. However, you need to understand what the tools are and what works. Plus you need to understand that postings to social media are considered advertising and therefore must be compliant, a topic we will not be covering. Too many think they are going to set up accounts and then sit back and watch the leads come in. It does not work that way. On the other hand, if you use the tools properly, they can be a great help to your business.
However, these tools are not a substitute for human contact. This is a relationship and value-driven business and social media does not change that. For example, if you make connections using social media, this is a precursor to setting up meetings. In order to do that, you must differentiate yourself by delivering value.
The contact will now work like this: I am a loan officer and you are a real estate agent, can you send me some business? You can see that it is tough to get an agent to respond to that even face-to-face. It is even easier for them to ignore you on-line. You need to understand that social media can put you in a position to make the meeting more likely and productive.
The next questions are: where should you start and how do you deliver value? We will cover these the next two weeks.
--Dave Hershman
Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published. His website is www.originationpro.com. If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at [email protected].
-- Al from Georgia
The answer is absolutely yes. However, you need to understand what the tools are and what works. Plus you need to understand that postings to social media are considered advertising and therefore must be compliant, a topic we will not be covering. Too many think they are going to set up accounts and then sit back and watch the leads come in. It does not work that way. On the other hand, if you use the tools properly, they can be a great help to your business.
However, these tools are not a substitute for human contact. This is a relationship and value-driven business and social media does not change that. For example, if you make connections using social media, this is a precursor to setting up meetings. In order to do that, you must differentiate yourself by delivering value.
The contact will now work like this: I am a loan officer and you are a real estate agent, can you send me some business? You can see that it is tough to get an agent to respond to that even face-to-face. It is even easier for them to ignore you on-line. You need to understand that social media can put you in a position to make the meeting more likely and productive.
The next questions are: where should you start and how do you deliver value? We will cover these the next two weeks.
--Dave Hershman
Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published. His website is www.originationpro.com. If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at [email protected].
