Anthony Casa, CEO of UMortgage, warns that recent changes in real estate fee structures, effective August 17, could disrupt the market significantly, predicting an exodus of underperforming agents and loan officers.
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— Mortgage Professional America Magazine (@MPAMagazineUS) August 21, 2024
Controlling that narrative by encouraging and generating strong reviews, he said, is the best way to build a strong online reputation. “If you’re a consumer and you Google someone, what does that say to you? What’s the message there?” Weekes said. The impression given by a slew of five-star reviews: “This broker’s awesome. They’re trustworthy. They know they’re stuff. They’re not saying that – but that’s what’s being said about them.”
Where are brokers going wrong in their approach to lead generation?
A common misstep Weekes sees brokers making? Trying to do too much and work with everybody instead of honing in on their own market. “They believe if they cast a wider net and try and work with everybody in their state, for example, that they will generate more leads,” he said.
“One of the fundamental keys to real success in this industry is realizing that there is more business in your own local area than you can service in a lifetime. Owning your local market is where success lies for the vast majority of mortgage professionals.”
A 30-year veteran of the mortgage industry, Weekes said marketing is one of the most fundamental areas where mortgage professionals, who are otherwise strong in all components of their job, make regular missteps.
That’s something that can be easily rectified, he suggested. “What I’ve discovered is most people in the industry know how to write a loan and understand the products – know how to do most of them right,” he said, “but very few actually know how to position or market themselves.”
