California Mortgage Broker Rich Lane is always on the lookout for how he can improve his business to better compete with the big retail banks. Thanks to constant and consistent advances in technology, the divide between wholesale brokers and retail banks is shrinking daily. With a push towards digital marketing, video, and a diverse tech-stack, Rich understands what it takes to push his business into 2022 and beyond, and he wants to bring all of you along for the ride.
Back at AIME Fuse 2019, our Keynote Speaker GaryVee asked everyone to raise their hands if they planned on retiring in 5 years. After the few raised hands went down, GaryVee stared out at the crowd of thousands of mortgage brokers and told them that if they plan on still being around in five years, they need to adapt. They need to understand that the future of all business is going to rely on internet marketing. As GaryVee put it, “there is nothing more important than being an unbelievable communicator in a contemporary manner.” Rich Lane took that to heart and started a video podcast, The Broker With Rich Lane. He isn’t a tech or video expert, so he did his research. He simply googled and youtubed how to start a video podcast, and then took notes. He learned what editing software to get, what lighting to get, how to get royalty free music, and so much more. Rich made videos with his realtor partners and CPA’s, which worked double time because guests were able to use the videos for their branding as well. The couple hundred dollars Rich spent on Amazon film gear more than paid for itself through all the referrals.
The big retail lenders spend their money on marketing and tech; whatever can get the customers in the door and through the application process as quickly as possible. For the longest time, Mortgage brokers just didn’t have the resources to afford that, but no longer. Mortgage Brokers now have access to broker friendly and affordable tech that will help bring their business to the next level. Whether they’re looking for ways to stay top-of-mind with clients, or if they’re interested in a new LOS, POS, or CRM, there is a Brokers Are Better Vendor Partner that can fill their needs. Rich knows that refi’s are not falling off trees anymore. The future is all purchase and he knows he needs to prepare his business for that now. If you don’t, Rich shares, “you are doing you and your clients an injustice.”
Rich’s parting words of advice for all brokers: “Whatever you do, lead with authenticity…high tech, high touch, high authenticity.”
- Intro Into The Wholesale Channel (1:46)
- Digital Marketing & Video (5:10)
- Looking Towards The Future (17:00)
This episode is sponsored by REMN Wholesale.