Whether you are a seasoned veteran in the mortgage industry with loyal referral partners or brand new to the field, social media can become an indispensable resource for both mortgage and refinance prospects in your local market.

The mortgage industry and loan originators have evolved in tandem with technological advancement. How we communicate with our loan prospects, clients and referral partners bears no resemblance to just six years ago.

Customer Relationship Management (CRM) now plays an essential role in the career of loan originators. It affects the way we communicate and attract clients, prospects and referral partners. And after we achieved unprecedented mutual access with our clients through emails, texting and instant messaging, along came social media, and it has turned the world upside down.

Although no single medium predominates, together they have created the potential to reach new and existing consumers like never before. My future entries will help you understand and provide concrete suggestions on Facebook, Twitter, LinkedIn, Pinterest, Google+, YouTube and blogging.

If you hate going door to door with donuts to visit real estate shops, or making a daily dose of cold calls, social media can help you earn your own clients in an easy and efficient manner.

According to the National Association of Realtors, 84 percent of all realtors are actively using social media. Just as important, a NAR study revealed that 88 percent of all home buyers use the Internet to search for their homes.

Would you prefer to market to a handful of mortgage prospects and referral partners every month, or reach 85 percent of your prospects every day through the social media market? That depends on whether you're satisfied with your current production and income. I never am.

Posted by Brendan Fontaine