Co-Branded Marketing
Creating value for real estate agents is a key goal for any mortgage originator seeking to establish new relationships or strengthen existing ones. One great way to add value is through co-branded marketing, an approach that features both your and your agent's photo and contact information on marketing materials.
Like many originators, real estate agents are essentially entrepreneurs who must create, fund and execute their own marketing campaigns. Offering an agent to share space on one of your high-quality marketing pieces, such as a newsletter, postcard, flyer or email, will typically be met with enthusiasm. It's a huge time-saver for the agent, and the message can easily be positioned to resonate with both your clients and those of the agent. Co-branding reduces overall marketing costs, since expenses are split between lender and agent, and it's an excellent way for both parties to be introduced to each other's client base as an endorsed partner.
Co-branding poses a few potential risks. Most importantly, RESPA forbids lenders from providing free marketing services to real estate agents, so always split your co-branded marketing costs with your agent, and be able to prove it with a canceled check. Secondly, don't send co-branded materials featuring different agents to the same group of customers. Before your first co-branded campaigns go out, discuss with the agent how you will handle phone calls from each other's customers to ensure that your communication is unified and beneficial to each other.
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