Social media can be an incredibly powerful tool for virtually any business, and mortgage loan businesses are no exception. If used the right way, social media can help your mortgage loan business grow, keep customers happy, and position your business as an expert in the field with whom customers can do business with confidence. To that end, here are five dos and don’ts when it comes to using social media with your mortgage loan business.

Do Post Often

Social media is only useful if you post often. This doesn’t mean you should sit in front of your computer and phone, talking about what you are eating for lunch. However, you should post a few times a day (depending on the platform). Post content that isn’t sales-oriented, but provides added value to your customers. Examples of this type of content include financial tips and mortgage industry updates. Doing so will help to get you in the mind of your customers so that when they are looking for a mortgage company, they think of you.

Don’t Ignore Yelp

With 184 million reviews generated since 2004, Yelp is a key resource for potential customers looking for various services. Make sure you set up your business profile on the website, putting in key pieces of information (such as your name, address, and phone number) and use it to track what real customers are saying about you and your business. Furthermore, it may be worth investigating Yelp’s paid advertising options. With millions of visitors every year, Yelp paid advertisements can help get your business seen.

Do Engage with Customers

Social media is “social” for a reason—it gives you a chance to engage with your customers. When they post on your page or ask you a question, respond as quickly as possible. This shows that you care about your customers and will be seen by others. Thankfully, there is no shortage of ways that you can talk to customers. It’s also best to use social media with the specific intent of engaging with customers, and if you want to do this, you have to post content that will solicit engagement. Use social media to ask questions, and start conversations when people respond to you.

Don’t Be Rude

Always be respectful and kind. Treat customers as you would if they were in front of you, and always give them appropriate consideration—even if they are acting in a way that may imply they don’t deserve any! It’s important to keep in mind that any social media interaction—public or private—has the potential to be seen by others. Remember to talk to your customers in a way that you would be comfortable being seen by others.

Do Position Yourself as an Expert

Remember, you use the content you post to position yourself as an expert in the field. This will give people comfort that you are a professional who knows what they are doing and is worth spending money on. You can position yourself as an expert by posting news items, giving commentary or analysis on the news events of the day, and discussing trends you are seeing in your business. 
Social media is like any tool—it can be used for tremendous good, but it can also create real harm for your business. If used properly, with the right people managing it, social media can help grow your bottom line and bring more customers into your business. Follow these steps, and you will be well on your way towards using social media to grow your mortgage loan business.

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Author Nick Magiera

Mortgage Banker by trade, Nick Magiera epitomizes integrity, energy, hard work, and creative service in every detail of the real estate transaction. Nick is a family man with a devotion to God, his beautiful wife & his adorable Bernese Mountain Dog.

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