Mortgage lead generation is the cornerstone of a Canadian mortgage lender’s business. You can have great products, knowledgeable staff, an extensive broker book, but if you’re not getting leads then your efforts are wasted.
In today’s housing market, it may be harder to find mortgage leads with the new mortgage rules, higher interest rates, and higher house prices. That’s why it’s important you use a good mortgage marketing strategy — and good technology.
When the real estate market shifts, it can be advantageous to look at up-and-coming areas and how you can change your targeting both as it relates to risk and as it relates to marketing to make sure you are spending in the right places.
Some great sources for this kind of information are:
- The Teranet-National Bank House Price IndexTM – provides the prices of single, detached homes nationally.
- The Teranet Market Insights report – drills down into different trends as it relates to different demographics, property types, areas, etc.
- Bulk data – this can enable you to obtain the specific data you are looking for and cross check/compare it against your portfolio.
- Statistics Canada announcements — these can clue you into Canadian demographic trends that might be affecting your selling market.
These are just a few of the resources you might consider to find up-and-coming areas. In general, you want to make sure you are working with accurate information. Even if a news article, for example, says that a market is up-and-coming, it may not be up-and-coming for the types of products you offer.
That’s where bulk data tools or mortgage technology that provides in-depth data can be a saviour for your mortgage marketing. Use the broader statistics and trends to identify up-and-coming neighbourhoods, and then use mortgage tools, such as the Purview Neighbourhood Report, to see if it would work for you and target your marketing even further.
We’ve already got you started. See our list below of the top Canadian housing markets you might want to consider including in your reach:
- Uptown New Westminister, Vancouver, B.C.
- Victoria, B.C.
- Central Abbotsford, Abbotsford-Mission, B.C.
- Albert, Edmonton, AB
- Kingsland, Calgary, AB
- Norwood Flats, Winnipeg, MB
- Brantford, ON
- Peterborough, ON
- Guelph, ON
- Laval, Ouest, Montreal, Que.
- Sherbrooke, Que.
- Saint John, NL
- Moncton, NB
If you are selling in the Greater Toronto Area, there are also many up-and-coming areas in the surrounding suburbs, such as Cookstown, Vanier, Bowmanville, etc.
When you are looking for up-and-coming neighbourhoods, it can help to consider areas that are near development or near a major city with high housing prices. If development is coming, such as a new condo building or a revamped greenspace, it may be more attractive for people to move there. If a city’s housing prices keep rising, but surrounding areas are more affordable, some might move to cut costs.
Purview can help you verify mortgage leads and find up-and-coming areas. Our tools let you view comparable sales, confirm property ownership, perform fraud checks, and much more. See all that we can offer today. Call 1.855.787.8439.