Loan Officers Can Use ATTOM’s Building Permit Data to Find New Prospects
How Mortgage Loan Officers Can Use ATTOM’s Building Permit Data to Find New Prospects
As a mortgage loan officer, it’s easy to become dependent on referrals to find new prospects. However, it can be stressful waiting for your next prospect to show up. Moreover, building strong referral relationships can take an extensive amount of time that you simply don’t have.
Luckily, there are a number of pro-active ways to drum-up a consistent stream of new prospects for your business. Notably, there are many effective ways for finding new prospects that go beyond stressful cold calls or the low returns most mortgage loan officers see from social media marketing. Building permit data is a great resource for finding new prospects. In this post, we show you how you can use ATTOM’s building permit data to find new prospects to target.
An Introduction to ATTOM’s Building Permit Data
You can use ATTOM’s building permit data to help you identify new loan opportunities based on specific project classifiers and cost. For example, building permit data can be used to find homeowners undertaking extensive renovation works above a certain price point for future targeting.
ATTOM’s building permit data provides a comprehensive look at the lifespan of a property. This data covers both historical and current work on both commercial and residential properties. Moreover, our building permit data includes nationwide data from over 200 million building permits from over 2,000 building departments across the U.S – covering 94% of America’s top cities, ensuring you have access to the data you need for your location.
This data includes:
- Classification of permit type (such as roofing or electrical)
- Permit status
- Job description
- Job cost
- Contractor information
As such, you have access to detailed information on significant property amendments and renovations and can use this to your advantage when targeting new prospects – below we show you how.
Use Building Permit Data to Identify Prospects in Need of a New Mortgage
As a mortgage loan officer, you can also use building permit data to uncover homeowners who are most likely to move and need a new mortgage lender in the near future. For example, homeowners suddenly undertaking a bout of renovation works on their property are prime candidates for your outreach. You can take this data and use it to target prospects using Facebook Ads or direct marketing campaigns, such as direct mail. Furthermore, this data can also be used to identify current clients who may be looking to move in the future, so you can offer them a new mortgage.
Use Project Classifiers to Find New Prospects in Niche Markets
In addition, you can also use the project classifiers offered with ATTOM’s building permit data to help you identify new loan opportunities in niche markets. For example, if you provide mortgages for properties with solar panels then you can identify upcoming solar panel installation projects based on building permit classification. As installing solar panels may put some homeowners’ mortgages at risk, you can reach out to prospects to offer your services.
Find New Real Estate Prospects with ATTOM’s Building Permit Data
As a mortgage loan officer, finding new prospects to target can often feel like a long-game – especially when relying on referrals or marketing efforts with low returns. Building permit data offers extensive data on the history of a property that can be used to help you find a number of promising new prospects every month.
Interested in learning more about our building permit data? Contact us here.
Please contact us if you have questions about the underlying data referenced in this article, or would like to have access to that data in the form of custom reports, API, Bulk File or DaaS.