How to Become the Top Choice Lender for Millennial Borrowers

Jason January 13, 2023 0 Comments

Homeownership has long been the apex of the American dream. Even so, many millennials worry about the cost.

Mortgage brokers and lenders have to work hard to showcase their value to younger buyers. Here are five ways to stand out among millennial borrowers.

Build a Strong Web Presence

If you already have a website, make sure it’s clean, modern, and up-to-date. Most millennials browse the web using their phones. As such, it’s particularly important for your web content to look great across all devices.

Update your social media page updated as often as you can. This is where a customer relationship management (CRM) system can be helpful.

A good mortgage CRM can provide curated content. This, in turn, makes it easier to upload a steady stream of quality content.

Offer Education and Guidance

Most young millennials (age 18-31) are first-time buyers. This information comes from survey data from the National Association of Realtors (NAR). These borrowers may be unfamiliar with the mortgage process.

This is an opportunity for you to offer educational content and guidance. It also shows the importance of fostering regular communication. Bridge-building solidifies the borrower relationship.

Seek to build relationships with millennials. Offer support before you offer a sales pitch. Your clients will notice and appreciate your outreach efforts.

Provide Self-Serve Options

Millennial borrowers value convenience and efficiency above all else. One way to provide that is through a customer portal. These helpful online tools allow borrowers to submit important documents. They can also sign forms and send messages without coming to your office.

Self-serve technology also provides greater visibility of the lending process. With a customized portal, younger borrowers can experience faster results and full transparency.

Connect Through Video Marketing

Younger shoppers are more willing to watch a video than read a blog post. Create video content that informs millennials about the borrowing process.

A solid mortgage CRM can help you create this video content. Most social media platforms allow you to pull these videos into your marketing content. This can help you drive engagement among millennial borrowers.

Highlight Customer Stories

Your mortgage marketing strategy should include reviews and testimonies from former clients. No content could be more authentic than the real stories of satisfied customers. Focus on the stories of millennial borrowers. This can help future customers understand how you can help them achieve their dreams.

Again, you can use a mortgage CRM to gather and curate these reviews. Post customer stories on your webpage or social media channels. The best CRM systems even let you screen and respond to negative reviews before they go public.

Mortgage Marketing and More

With the right mortgage CRM system, you’ll be able to connect with a variety of customers.

Millennials will appreciate the easy communication and online customer portal. But the BNTouch platform offers advanced marketing tools. You can use these tools to drive engagement and grow your business.

To see these features in action, contact BNTouch to schedule a demo.

Request a free demo

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AboutJason Richardson

Jason specializes in digital marketing strategies and founded a digital marketing agency Richardson Digital Media™. Richardson Digital Media™ has quickly become a preferred marketing provider for real estate companies and nationwide mortgage lenders. Jason has won 9 President’s Circle of Excellence Awards for loan production over his career and was most recently honored as one of National Mortgage Professional Magazine’s “40 Under 40: The 40 Most Influential Mortgage Professionals.”