The power of good storytelling should never be underestimated when marketing small-balance commercial mortgages. Your borrowers and referral sources might find tip sheets helpful, but telling stories about your successful deals is a great way to both educate your borrowers about the process of obtaining a loan and make sure they remember what you can offer. Here are the elements you’ll need to craft an engaging story:
The protagonist is the hero of your story. While you might be tempted to cast yourself as the protagonist, it should always be a borrower for whom you closed a loan. Give your readers some details about the borrower. What kind of business do they run? What type of property do they own or want to own? This adds a human element to your story, allowing readers to relate.
Next, you need to describe your borrower’s situation. Discuss why they needed a small-balance commercial mortgage and what they were planning to do with the proceeds. Most borrowers seeking small-balance loans can’t obtain bank financing; explain why your borrower was unable to get a traditional mortgage.
After that, it’s important to outline your borrower’s choices and how you helped them to achieve their goal of obtaining a commercial mortgage, despite any obstacles they faced. Did you find a non-traditional commercial lender willing to look past less-than-stellar credit? Did you guide your borrower through the process of securing a hard money loan? Explain all of the choices you presented to your borrower so that your readers understand that you are willing to work hard to find various solutions.
Finally, describe your borrower’s happy ending. Now is the time to discuss the commercial mortgage you were able to secure for your borrower and how the money helped them to accomplish their objective. Did the loan allow your borrower to make much-needed improvements to their building? Were they able to purchase a new property and expand their business? However the funds helped, now is the time to explain.
The key to good marketing is great storytelling. Not only can stories be entertaining, they often serve a purpose. As a commercial mortgage broker, using stories to market your product is a great way to engage with potential borrowers and referral sources. Adding storytelling to your marketing efforts will not only increase the interest of your audience, it will also help to increase your business.