what is the best way to generate new business as a...

[brokerstorage]

...mortgage broker?

[Jes]

Referrals from builders and real estate agents. If a local builder is putting in a new subdivision, approach them about being the preferred lender. If they have a preferred realtor, talk to them as well. The cost to you might be some shared advertising/marketing for the new development.

[kuma1]

Referrals are going to be the most important thing. Treat people honestly and fairly, and they will refer their friends and family.

One of the hardest things to do in real estate (in general) is that you're just one of the faceless thousands who are already in the business, with nothing to differentiate yourself from them.

Chances are, most real estate offices already have a go-to mortgage broker, either in house or through an entrenched relationship. Making friends with a new agent is a good start. If you want to make really good money, you will need to be way more than a Monday-Friday, 9-5 broker.

You can advertise, that will help a little bit. But getting your name out there as someone who is knowledgeable, helpful, honest, and fair will go much, much further in the long run.

And, for the sake of integrity in our own industry, please, please, PLEASE don't be a dirtbag. Don't try to get rich at the expense of one person. In the long run, you will make way more money by repeat/referral business than squeezing each person for whatever they're worth.

[VaTreasures]

Building trust is the key to be successful as a mortgage broker. Buying a home is very stressful and people want to know that they are not being ripped off by their lender. For me personally knowing that I am getting a fair deal is more important than getting the absolute rock bottom price(especially if it has a bunch of bogus fees to make it not so rock bottom).

Also with people extending themselves so much to get a loan to get a house, make sure you are not setting your clients up for financial failure.