Facebook Groups for Mortgage Brokers

Facebook groups for mortgage brokers are not only a great resource for knowledge sharing, they also have big potential for lead generation. As I’ve mentioned in an earlier blog post, referrals are your bread and butter and for mortgage brokers Facebook groups offer a great way to expand the reach of your referral network.

In this article I’ll explore the reasons why mortgage brokers should join Facebook groups,  and I’ll explain how you can get the most out of them.

What Is a Facebook Group?

A Facebook group is an interactive Facebook page where members can share ideas and have discussions around a certain topic. In our case, that is the business of mortgages and working as an independent mortgage broker.

A Facebook group can be either private or public. Most groups are private, which means you have to submit a request to join. Then, either the group admin or another member will accept or deny your request to join.

The more serious Facebook groups will ask new members a few questions about who they are and why they want to join the group. This is to ensure that the members are really engaged.

That engagement is where a Facebook group differs from a Facebook page. Facebook pages are officially branded as your business, and yet they are less effective in reaching new people and driving interactions.

This is because Facebook prioritises paid ads over business page content in people’s news feeds. So even if someone has liked your page, there’s no guarantee they will see many of your posts. But if someone joins a Facebook group, they will by default get a notification every time something new is posted in the group.

What Type of Facebook Groups Should Mortgage Brokers Join?

These are the four types of Facebook groups that I recommend joining.

1. Mortgage Advice Groups

A search on Facebook will bring up several groups aimed at consumers who want to get advice or information about mortgages. A lot of these have a predominantly American membership but there are also some groups such as this one which have a UK focus.

2. Target Audience Groups

Do you have a particular niche market for your mortgage brokerage? Then the chances are that your target audience will they have their own online community on Facebook. This is your opportunity to generate leads using Facebook groups. For example, if your niche is equity release or mortgages that run into retirement, then look out for Facebook groups for the over 60s in your local area.

3. Your Own Facebook Group

Starting your own group for people who are interested in mortgages and/or the property market is another clever way to use Facebook for getting mortgage leads. You can use your group to share information and resources to establish your expertise in the field. It is also a way to nurture your relationship with existing and prospective clients.

4. Existing Mortgage Brokers Community

There are plenty of Facebook Groups for mortgage brokers who want to gain new skills or broaden their knowledge, including my own group about marketing and mortgage lead generation. This is a place for skill sharing, asking industry-related questions and learning from peers from all around the world.

How to Join Facebook Groups for Mortgage Brokers

You would be surprised by how many Facebook groups for mortgage brokers there are. Simply type something like “mortgage advice” into your search bar and you will get a full results page with different niche groups from around the world.

Since many business groups are selective about who they approve as members, your best way in is by asking someone you already know in the group. Besides vouching for you with the group admin, they can also place a post to introduce you to the group.

Once you are in, focus on becoming an active and helpful member. And follow the rules and guidelines of the group. When you are in a group of peers you don’t want to act like a salesman.

You are there to share ideas, and to give and gain advice. Being a supportive and helpful member does a lot more for your professional relationships than self-promotion. Here’s a great example of a broker answering a question from a borrower and striking up a private conversation as a result.

Using Your Own Facebook Group to Generate Mortgage Leads

Are you thinking about starting your own Facebook group? Great! It is a smart way to get your name out there and find a larger market for your services.

Creating a group on Facebook costs nothing and is very easy to do. But then what? How are you going to get people to join?

Start by sharing your Facebook group through your existing channels such as LinkedIn, newsletter subscribers, other Facebook groups and existing clients. You can also create paid Facebook Ads to reach your target audience.

Then, start posting engaging content into the group. Examples include links to your blog, asking questions to get members to share their opinions and experience, or setting polls. Keep it frequent, consistent and interesting. Aim to post one thing each day in addition to responding to other people’s comments and questions.

Don’t fall into the trap of constant self-promotion in your own group either. The goal of any Facebook group, including your own, is helping the members. Consider it a place for content marketing, not driving sales.

Having said that, you will notice after a while that your Facebook group does start to generate leads for your mortgage business. This is because the information you share with the group showcases your knowledge and helps to position you as a subject expert.

When you provide great content and value within your Facebook group, you are building trust with the members, and so when they have a need you will be the first person they think of.

If you want to learn more about exactly how to start and grow your own Facebook group then I strongly recommend you check out this online course by Lindsey Anderson.

I hope this article has helped you understand how mortgage brokers can use Facebook groups to grow their businesses – either by joining existing groups or creating their own.

If you’re not already a member, have a look at my own Facebook group for mortgage brokers, where we can continue the discussion on lead generation and marketing.