For this week’s episode of LodeStar Lending Leaders, Alayna spoke with Joe Wilson, Founder of Social Coach. Together they talked all things social media, the future of the mortgage lending process, and how to develop a personal brand.
Social media is nothing new, but what is new is the fact that using it for business is becoming table stakes in the mortgage industry. Embracing social media is no longer something just for “influencers.” The question becomes, not IF a lender should use social media but HOW.
They key word here is “developing.” Presenting your personal brand on social media isn’t something that happens over night. It takes practice and discipline.
Personal brand is nothing more than how the public—your coworkers, clients, etc.—perceive you. It’s who you are in the public’s eyes. That means everyone has a personal brand, whether they have an A+ social media hustle or not. Even the “tech averse” can cultivate a personal brand and leverage that on social media to improve business, generate leads, and interface with both customers and the wider industry. It’s not rocket science. It’s just being who you are.
But for some people “being who they are,” gets them in trouble. Empowering a person (in this case a mortgage lender) to cultivate a personal brand on social media assumes that person is a good-natured, good-willed individual. Sadly, that isn’t always the case. Managing a team of LOs who all use social media means ensuring that everyone’s online outputs are professional.
And even for the kindest, most conscientious people, there will always remain questions about compliance. For example, should one post about rates? It’s important, especially for managers, to consider the compliance ramifications of certain posts and content.
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