25 June 2012 8 Comments

Mortgage Brokerage firm branding: What Count?

Author: yinkaolaito

Yinka Olaito is happy,excited and passionate Communications & Media specialist, Trainer and speaker. Yinka Olaito helps Profits and Non-profits with effective communication and positioning for premium service delivery and returns. Yinka Olaito also has special interest in Development Communication and has consulted for noted UN Agencies. Yinka Olaito is the CCO of Michael Sage Consulting(Communication/digital media), African Child Education Right Initiatives(NGO) and Content Director, Africa Development Talk( online Platform for discussion on Policy, Governance, development across Africa) and Africa Foundation for Young Media Professionals

Mortgage brokerage success rests on integrity, transparency and accountability. The need for housing today will continue to be on the increase as long as human continues to procreate. The present human population of about 7 Billion will continue to increase. As a follow up to this, demands for people’ need for housing and accommodation will continue to be on the increase as well.  This need has created a niche for mortgage brokers. Like in any average industry, mortgage brokerage firms may be varied but not all are helping their clients to achieve the best value for the clients’ hard earned money.

The need for proper counsel in securing personal homes has increased the need for establishment of mortgage brokers. Mortgage brokers’ major work is to ensure the sale of mortgage homes and products to desired home owners. Many mortgage seekers may not understand the details of financial details involved hence mortgage brokerage institution becomes handy. Given this situation, mortgage brokerage institution branding and effective communication are highly essential to their success. To some, the demands of the mortgage brokerage market may appear to be simple but a lot of branding and communication efforts are required to stand out. To excel, Mortgage brokerage institutions must place priority on effective branding and its communication. In this piece, we are examining major ingredients which can help an average mortgage broker in better market positioning.

Effective brand management: every brand foundation rests on a compelling vision. With good vision, efforts are meaningless. To create right perception, mortgage brokerage institutions must distinguish itself from other with a strong brand vision that captures the market’s pain and desire.  Part of this brand management process includes brand identity: use of right colour and text.

Brand ambassadors’ attitude: like any other industry, mortgage brokers need to engage competitive and excellent people with strong skills in human relations. Customers have a lot of options to choose from today. Part of what will make them stay with your brand is the attitude of the staff. If the firm staff strength is weak here, people will turn to the other firm next door.

Use of Technology: technology has become useful part of both small and large scale businesses. There is no excuse for not engaging the use of technology- especially the internet today. Customer cultivation, care, support and post sales efforts are now made possible through social media. Brokerage firm’s owners should therefore learn the best form of taking advantage of technology.

Brand integrity: mortgage brokers that will excel today must understand the impact of brand integrity. Since this industry involves financial dealings, they should not only look out for what to gain but how they can help clients achieve their aims. When this is the goal, making profit will become favourite past time. Lack of brand integrity today will spell the doom of the brand without notice.

Technical Know- how: Mortgage business requires a lot of technicalities. Clients must be adequately advice so that they have a proper understanding of what they stand to gain and how to effectively manage fund so they do not eventually run into finical difficulties just because they are paying mortgage. In fact , mortgage brokers need to appropriately placed the financial strength of their customers.

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