I have some friends in the mortgage business who have just been hired by a new up and coming company in the Orlando market.  One of my friends was telling me how excited he was about the new social media opportunities and how he could harness his FACEBOOK account to bring in all sorts of mortgage originations.  He spent some time listening to the ‘corporate social media guy’ who has instructed each loan officer to create their own mortgage consultant for life facebook page and then BAM, SHAMWOW, KABOW, instant business. Instant mortgage originations, instant customers for life….. Set it and forget it.
Fact: This WILL NOT WORK. Ever.

Here’s what could work:

* Create a web site that actually educated clients about mortgage loans and the new rules and regulations.
* Create a blog with a personality and engage prospects. Answer their questions, address their concerns, interpret the new government restrictions and / or regulations.
* Create a twitter page and facebook page that actually educated people about mortgages, NOT just to spout out interest rates.
* Create an online community of financial industry experts that could advise every day consumers on the best loan products, etc.  and teach them how NOT to get taken advantage of.

People are gun shy now. They should be.  They will use every available resource online to NOT get screwed over and to protect themselves and they SHOULD. The way mortgage brokers can win people over these days is to BE THAT RESOURCE. It takes work, skill and time, but it beats knocking on realtor doors, sending cheesy fliers out, hanging out at Chamber events and setting up tents at local community events.

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