How mortgage brokers can use TikTok for marketing leads

Digital bank and broker explain how mortgage brokers can use TikTok

How mortgage brokers can use TikTok for marketing leads


By Ryan Johnson

Digital lender ubank has released a broker’s guide to using TikTok to support brokers wanting to tap into the growing channel that has become increasingly popular among younger Australians. 

George Srbinovski (pictured above left), ubank’s head of broker distribution, said there was a “real opportunity” for brokers to reach buyers through the platform, which is the fastest growing social media site in Australia.

“TikTok is increasingly favoured by younger generations over traditional search engines,” Srbinovski said.

“Many of our brokers want to be more active on social media but don’t know where to start, so off the back of our successful BrokerFest events, we wanted to continue to provide real, actionable content that helps them build a better business.”

Why should mortgage brokers consider TikTok as part of their marketing strategy?

Apart from being the place for bussin’ viral dance trends, TikTok is also a powerful short-form video platform that has become synonymous with Gen-Z and internet culture.

TikTok has over one billion users, more than LinkedIn and Twitter, and was the most popular app for consumer spending in 2022.

As a gauge, the hashtag #TikTokmademebuyit has gained 31.8 billion lifetime views and counting.

However, the mortgage industry has not fully embraced it as a marketing tool, unlike Facebook or LinkedIn.

But with TikTok estimating 33% of its users wanted to apply for a home loan in the next six months,  Srbinonski said that might be about to change.

“Our partners at TikTok were able to share some interesting consumer insights with us, and this was the catalyst for us better educating and supporting our brokers tap into this channel,” said Srbinovski.

For example, home loan content is “growing massively”, according to these insights, with 69 million views of #mortgage content in the past year.

“ubank's in-house social media team is dedicated to staying updated and extending their knowledge to our broker network, to help them build a strong brand presence online,” Srbinovski said.

“As part of the first of three A Brokers guide to TikTok carousels, we highlight the opportunity of how to engage with younger audiences on TikTok by creating human-led, relatable and engaging content,” Srbinovski said.

What strategies work on TikTok for mortgage brokers?

Part of the reason TikTok use among mortgage brokerages haven’t been as widespread might be due to the type of content.

Ubank said the most effective content formats for capturing the attention of potential home loan clients on TikTok are short, engaging videos that provide educational information, customer testimonials, real estate market updates, behind-the-scenes glimpses, interactive challenges, infographics, Q&A sessions, humour, relatability, duets, and collaborations.

This is usually different from the written content that dominates Facebook and LinkedIn.

“The format should be vertical videos, between 7 to 15 seconds or up to 30 seconds for longer-form educational content,” Srbinovski said. “We would recommend a minimum of two posts per week, to keep your audience engaged but always take a quality over quantity approach.”

However, as the data indicates some are already carving out a space on the platform and have already reaped the rewards.

For example, Robbo the Aussie Mortgage Guy from Trusted Finance Loans has already amassed 7 million likes and has more than 429,000 followers.

In one video (pictured below), he went viral gaining over 170,000 views from one post. Build a portfolio of investment properties while you’re young so you can reap the benefits of capital growth in your 30’s and beyond! Head to the link in my Profile to be connected with a Broker that can help you put an Investment Property Plan in place! 🏡 *not financial advice* #fyp #finance #saving #mortgage #personalfinance #learnontiktok #realestate #education #student #uni #genz #millennial #budget #savingmoney #robboaussiemortgageguy #trustedfinance Mortgage rates mortgage tips mortgage broker home loan realestateaustralia realestatetiktok house for family house for sale #invest #investment #investing ♬ original sound - Robbo 🏡 Aussie Mortgage Guy

Building a personal brand

While the opportunity of going viral brings with it obvious benefits, it’s important to consider that, just like mortgage broking itself, success doesn’t happen overnight.

For Peter Vassilis (pictured above right), director of Sydney-based brokerage Black and White Finance, his TikTok marketing journey is just starting.

Once a month, Vassilis said he posted a market update as part of his educational market strategy – a  snippet of the company’s blog.

“We want to demystify financial topics with no grey areas, presenting information in simple language in short 45 to 60 second videos,” Vassilis said.

“We aim for those with immediate finance questions or mortgage needs, or anyone seeking educational content related to finance. We're not specifically targeting a niche yet, but it's part of our future plans.”

@mortgagebroker_sydney Our September 2023 edition of the #Blackandwhitefinance update is here to help you stay on top of all things #finance and #property related.  Go and hit the blogs tab and the most recently published article is the more detailed version of this snack sized video. #mortgagebrokersydney  #nogreyareas #interestrates  #interestratessydney #realestate #interestrates2023 ♬ original sound - Mortgage broker Sydney - B&WF

While Vasillis hadn’t been able to measure any specific leads through TikTok yet, he said some new clients mentioned they discovered the brokerage on TikTok and found it to be an additional source for verifying the business’s credibility.

“It seems people are using it to supplement their research on us.”

Vasillis said that he hoped the industry and brokers would begin to try and engage with TikTok more as it was going to be “an important platform of the future”.

“The short, bite-sized pieces of information really helps you hone your message. I don’t know the data, but people have short attention spans, especially on TikTok, so it’s important to get your ideas across in a clear, simple and concise way.”

Srbinovski agreed, saying that through TikTok, brokers could reach buyers in the lead up to purchase by entertaining and educating target audiences, while demonstrating their point of difference.

“Brokers have opportunities on TikTok to create educational content, build their personal brand, and collaborate with potential customers. ubank supports them by providing helpful tips and insights on using the platform effectivel,” Srbinovski said.

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