Can TikTok really lead to mortgage success?

Mark Fisher is blending traditional mortgage practices with modern platforms

Can TikTok really lead to mortgage success?

When you think of mortgage lending, TikTok probably isn’t the first platform that comes to mind. But for Mark Fisher (pictured), a loan originator at UNMB Home Loans, it’s become a strategic tool that has transformed his business approach.

More than just videos

Fisher has been deeply invested in content creation over the past year. Initially, he worked with a company that assisted in video production. However, as he became more comfortable, Fisher took the reins, shooting his content and only outsourcing the editing. This hands-on approach ensures his message remains genuine, resonating with his existing clientele and potential leads.

The impact of his content strategy is evident. Fisher notes a shift in dynamics, with brokers reaching out to him instead of the other way around.

“I have brokers now kind of reversing the roles, and instead of me reaching out to them, they’re reaching out to me, which is great because we always want to have those warmer introductions, and it’s always better to start a relationship that way,” he said.

While Fisher’s primary focus has been on Instagram, he’s expanded his reach across various platforms, including Facebook, LinkedIn, and even WhatsApp, tapping into its community feature for status updates and quick videos.

It’s not just about simply posting videos, however. Fisher’s content strategy is deeply rooted in understanding his audience’s needs. He recalls a video he made about the NYPD’s new contract and pay increase, which garnered about 65,000 views between TikTok and Instagram.

“I made a video on that, and between TikTok and Instagram, I had about 65,000 views on it, and about 2,000 people shared the video, and about 50 people reached out to me directly from that video,” Fisher said. “It’s a much better use of my time. I feel that doing that creates instant credibility with all my referral partners and past clients, and also it’s another avenue to drive leads in business besides realtor partners and past clients.

“I even share my Instagram page with everyone: my realtor partners, and all. There’s no guarantee they’ll use you for your services just because you pre-approved them. But if they’re constantly seeing my face, and me as a valuable resource and someone who really knows what they’re doing, they’re more likely to be stickier and stay with me. So, it serves a few different purposes.”

It’s all about transparency

Beyond content creation, Fisher emphasized the importance of managing leads with the utmost transparency. He believes in keeping everyone, from realtor partners to past clients, informed throughout the process.

“I think one of the things that people take for granted is how they manage their referrals,” Fisher noted. “I know for myself that when I give a referral, and I never hear back from the person about what happened after that, it doesn’t really incline you to want to give that person another referral, right?

“Like the average realtor does five to seven transactions per year. So, it means a lot when they’re giving you a referral. I believed in always having extreme transparency. Like what’s going on during the process, and then just being very vocal when they give us a referral. If we can’t reach them after a few tries, we’ll let them know - I feel like this holds a lot of weight and allows us to get more referrals than the person that doesn’t do that and doesn’t have a structured system.”

Fisher said he and his assistant utilize a live-updating Google sheet to track every referral, ensuring nothing slips through the cracks.

His business backbone

Behind Fisher’s success is a robust support system. While he’s the primary force driving business, he’s backed by a dedicated team. After he handles the initial application or preapproval, his back office staff, comprising five individuals, takes over, ensuring a seamless process from start to finish.

“I might be the face of the business, but my team is the backbone,” he said. “I have five incredible individuals on the back end. They take over after I’ve done the initial application or preapproval. This system ensures I can focus on bringing in business while they handle the operations seamlessly.”

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Despite his successes, Fisher is candid about the challenges facing the mortgage industry, from dwindling inventories to market fluctuations.

“Everyone is in the same struggle right now because inventory has been extremely low, which has led to just fewer overall transactions,” he shared. “I think the number was like $6 million transactions that we’ve done last year, and we’re on track to do just about $4 million.

“Automatically off the bat, you have a good portion of the business that’s going to be reduced based on just transactions being done - and there’s nothing we could do to control it. I would love to say that my business isn’t market-correlated, but it is in a big way.”

Instead of being deterred, he’s proactive, focusing on increasing his top-of-mind awareness and ensuring he remains the go-to resource for his clients and partners.

“One, try to increase your top-of-mind awareness as much as you can so that you decrease the leakage that you may have on the opportunities in your ecosystem,” Fisher said. “And two, just make sure that you’re in front of those referral partners and past clients as much as you can be, so that you’re their trusted resource.”

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