Why build a “Client for Life”?

Let’s face it. Relationships Matter.

Excelling in a Highly Competitive Market

In an increasingly competitive market, lenders are seeking a meaningful way to differentiate themselves and be top of mind with their clients. While mortgage industry clients still expect compelling rates and fast cycle times, the most engaged clients tend to be those whose overall borrower experience is memorable. As industry volatility remains, now is a perfect opportunity to get the jump on the competition.

Changing the Sales Funnel Paradigm

The dilemma in many lender shops revolves around an intense focus on the transaction versus the overall borrower experience. The sales funnel often becomes the heart of the effort – generating leads and turning them into applications and ultimately funding. Some lenders are leveraging a CRM and other tools to extend their engagement with homeowners post-close, although, this is more the exception than the norm.

Actionable Customer Centricity

While it is becoming increasingly difficult to provide differentiated lending services, an industry defining customer-centric service approach can be the deciding factor in market distinction. Customer service is a worthy objective and it is rapidly becoming typical, expected and transactional. However, it is time to look beyond product and customer service. We believe there is much more that a lender can offer – a mortgage experience that is genuinely meaningful to your borrowers and engenders a long-term appreciation of your company. It is time to focus on relationships versus transactions, which ultimately leads to increased revenue, brand loyal customers and distinguished ancillary services partners.

How to Change the Mindset

Imagine, instead of only focusing on service through the day of closing, you can reward clients with a better experience at both closing and post-close. What if you could engage your clients – for life – by providing them with information, tools and resources that will help them exponentially love where they live? By engaging them throughout the entire borrower lifecycle you will convert more business in the sales funnel and, more importantly, easily win repeat business and referrals?

Read the entire Client For Life e-book here or Book a Demo today!

Competing on the Other Side of the Pandemic

Traditional technology platforms and marketing practices meant to ensure an engaging and rewarding borrower experience, including LOS, POS, and CRM platforms, are becoming increasingly necessary. All signs point to a purchase-heavy and volatile market, creating urgency to compete and create relevance for your business.

Consider the Following:

  • Market volatility, as refinance rate-locks have declined in the second quarter
  • Home inventory levels that are down 20% from 2020
  • The largest home buyer demographic, Millennials, need guidance in their homeownership journey
  • Margin compression, as direct-to-consumer lending is becoming more prevalent
  • Increased cost per lead conversion
  • Corporate investments in rental properties creating greater scarcity
  • Increasing challenges recruiting and retaining top performing loan originators

Given these factors, mortgage lenders are increasingly focused on:

  • Supporting and educating today’s borrowers throughout the homeownership journey
  • Differentiating their services beyond interest rates
  • Solutions that integrate with current tech stacks and automate post-close engagement and retention
  • Delivering sustainable value with top-performing realtors to increase referral percentage

Read the entire Client For Life e-book here or Book a Demo today!