3 ways to source commercial mortgage leads

Updated December 6, 2023

The ability to generate commercial mortgage leads on demand can make you a rockstar in this industry. This is true whether you are a mortgage broker, a commercial lender, or a loan originator or loan officer.

What trips most people up is this: generating commercial mortgage leads can be strenuous and time-consuming. But the good news is you have options.

In this article, we will look at how to generate commercial mortgage leads. We'll also offer specific tips that you can use to get your message out there, both in person and online. Here is everything you need to know about commercial mortgage leads.

Tips for generating commercial mortgage leads

Generating commercial mortgage leads differs slightly from getting leads in residential real estate. Getting commercial mortgage leads may require some work on your part, especially in the beginning.

The good news, however, is you have plenty of options. Mortgage brokers can generate leads both offline and online. In this section, we’re going to break down the top ways to generate commercial real estate leads.

How to generate commercial mortgage leads offline

First, let’s look at the tried-and-true methods to generate mortgage leads offline.

Strategic partnerships

The term strategic partnerships is somewhat misunderstood. It does not only pertain to referrals, ie, I’ll refer you and you refer me. A strategic partnership is designed to add value to all involved. This means the participating business and the client.

The best way to start a strategic partnership is to consider who your ideal client is. Next, think about who else services your ideal client. Asking yourself these questions will help you create a list of prospective partners. They may include other professionals such as financial planners, accountants, or lawyers.

Networking

Networking is another tried-and-true method for generating commercial mortgage leads. Why is it on a how-to list in 2023? Because it works. Many mortgage professionals continue to build connections and generate reliable referrals through networking groups.

One of the major pros to networking is that, if you follow the process and consistently participate, you are likely to get the results you want: more clients.

As with anything in the mortgage profession, however, there is another side to consider. The con to networking is that it takes considerable time and effort to get the ball rolling. And if you want to significantly grow your practice, your efforts do not scale.

Public speaking

Public speaking is another great way to reach potential clients. While it is not for everyone, there are a few ways to make it work effectively. These include:

• teaming up with related businesses and holding a seminar, briefing, or wine-and-cheese event
• speaking at relevant workplaces
• speaking at general business settings such as chambers of commerce

Be sure to tailor your public speaking to the people in the room. What do they want? How can you help them? Find out how you can deliver value to your audience. Otherwise, they may be content, but you may not get the new business you wanted.

Telemarketing

Telemarketing is not as prevalent as it once was. However, since it was the mother of lead generation ideas, it deserves a spot on this list. Plus, it remains a viable way to generate commercial mortgage leads.

Because the Do Not Call registry has decimated telemarketing to consumers, there is only one option left: telemarketing to businesses. While there is more latitude to approaching business than consumers, it can be challenging to speak directly to decision makers. But with the right offering and the right pitch—not to mention persistence—telemarketing can still work.

How to generate commercial leads online

When trying to get commercial mortgage leads, it is best to throw everything at the wall and see what sticks. That means that your approach should include both offline and online tactics. Let’s look at some methods to generating commercial mortgage leads online.

Landing pages

Landing pages are focused pages on your website that answer three critical questions that all website visitors ask:

• What site am I on?
• What can I do on this site?
• Why should I do it?

One way many mortgage broker websites fail is by featuring too much generalized content. For instance, you click on an ad about investment property loans, and you are taken to a home page that includes pitches for first-time buyer loans, investment loans, and refinance. A good landing page can help you narrow your focus.

Explainer videos

Explainer videos on your website can function the same way your public speaking did. It is a way to show your expertise. An explainer video can be brief, but it should explain your value proposition and end with a call to action. Most explainer videos are between 90 seconds and three minutes.

Blogs

Blogging and content marketing have blown up over the last few years. But for all the success that blogging and content marketing has generated, there are still misconceptions. Some of these misconceptions include:

• you must blog each week
• you must publish for 12 months before seeing results
• you can rely on keywords alone to generate organic traffic

This way of thinking is outdated. The secret to generating commercial mortgage leads through a blog is quality. Write about topics that your target market wants to read and can benefit from. When possible, include visuals like videos, images, and examples to keep the reader engaged. You can also promote your blog through social media.

Expert interviews

If you want to get more commercial mortgage leads, offering valuable content to subscribers and prospects is a great place to start. Keep in mind, however, that the content does not have to come from you alone.

One good idea is to set up video calls to interview allied professionals. Then, post the interviews on your website. If you’re keen, you can even turn these conversations into a podcast. None of these needs to be especially long, if you are pressed for time. You can do a five- to 10-minute interview that answers genuine client questions.

How do I get leads for my mortgage business? Here are 3 ways

While we explored specific strategies to get your message out there, there are more general approaches you can take to get commercial mortgage leads. Think of these more as a general approach or philosophy.

1. Start with the low-hanging fruit

For many residential originators, their first few commercial deals are likely to come from leads within their residential database. Those borrowers—especially those who are self-employed or owners of small businesses—often have commercial real estate interests as well. Mortgage professionals who have helped these individuals secure a home loan in the past have an edge. They can leverage their existing relationships to meet commercial lending needs if or when they arise.

How can one identify these leads? The first step should be to look through past 1003 applications to see who listed a commercial property in the “Real Estate Owned” section. Since a commercial mortgage term is typically five to seven years, there is a good chance that the owner is in need of a refinance solution.

Residential loan applications also reveal employment information that can serve as a helpful clue for originators. Borrowers who list professions like “small business owner” or “real estate investor” are more likely to be in the market for a commercial purchase or refinance solution.

2. Re-engage referral networks

Most originators will tell you that their primary lead sources are the referral partnerships they’ve cultivated over the years. The good news is that an increased focus on commercial loans won’t require a brand-new referral network. Instead, originators can create business opportunities by having new conversations with their existing partners.

Banking relationships may be the ideal starting point. Banks have earned a reputation for enacting conservative lending guidelines, a characteristic that is often more pronounced when it comes to commercial mortgage lending. Mortgage bankers deny financing requests for any number of reasons, but many turndowns are the result of credit, documentation, or property issues.

Originators can set some time with their banking referral partners to learn about their commercial lending “box”. That is, the deals they will or won’t do. Armed with this information, the originator can build their commercial business to fill the gaps and capture bank fallout opportunities.

3. Promote commercial capabilities

To generate commercial mortgage leads, you must take concrete steps to raise awareness. These days, one must do more than just print new business cards or add “commercial” to their email signature.

LinkedIn may prove to be a more productive starting point. Referral partners and prospective borrowers use this social network to connect with solution providers. If an originator doesn’t clearly describe their ability to close commercial loans, they simply won’t be found online.

Keep in mind that networks like LinkedIn look for specific keywords in a profile that match with a user’s search query. Originators who sprinkle terms related to commercial lending throughout their profile are more likely to show up in search results.

But originators don’t need to rely on search algorithms alone. Connecting with other commercial real estate professionals one on one or through groups can be a faster way to expand one’s network and generate new leads.

Building relationships with experienced commercial lending pros can also help originators increase their knowledge and confidence level—both of which are crucial in the commercial space.

Can you pay for commercial mortgage leads?

Yes. You can pay for commercial mortgage leads. However, it is expensive. And as soon as you stop paying for your mortgage leads, they stop coming in.

When it comes to commercial mortgage leads, you can look to lead aggregators. These sites are used to buy exclusive and non-exclusive commercial mortgage leads:

• Bankrate
• Experiean
• LendingTree
• Smart Assets

These sites can help you generate leads, but they are not marketing agencies. They will not create specific lead generation systems for your mortgage company.

Otherwise, you can hire a lead generation marketing agency. They will create a 24-hour referral system that includes the following:

• optimized mortgage-conversion website
• search engine optimization (SEO)
• social media management
• email marketing
• content marketing
• branding
• paid ads

Generating commercial mortgage leads takes research

To become successful in the commercial mortgage space, you will need to generate commercial mortgage leads. While this process can be challenging and time-consuming, the good news is that you have options, both in-person and online. As we have seen, you can even pay for mortgage leads, if you have the money.

Keep in mind that it does not always have to be complicated. Sometimes, the best solution is right in front of you. Start with low-hanging fruit and re-engage referral networks.

To find out more commercial mortgage leads, get in touch with one of the USA’s top mortgage professionals in our Best in Mortgage section.

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