Strategies to Help You Grow Your Mortgage Business This Year
In 2021, it isn’t uncommon to see people use mobile apps to apply for mortgages. However, this doesn’t mean that humans will be eliminated from the home loan servicing sector. Let’s take a look at how you can continue to grow your business in a digital world.
You Can Offer a Higher Level of Service
A smartphone app won’t be able to spend 30, 60, or 90 minutes going over the details that a borrower should consider when applying for a mortgage. Furthermore, an app won’t spend time helping a customer learn more about loan products that best fit that person’s needs. For many people, there is something comforting about being able to talk to a professional about a major life decision. Ultimately, you can use this fact to your advantage in an effort to regain market share from lifeless algorithms.
Establish a Rapport With Consumers Before They Apply for a Loan
In addition to applying for home loans, consumers typically use their smartphones to gather more information about the housing market itself. Therefore, it may be in your best interest to write articles, shoot videos and create other types of content that can easily be viewed on a mobile device. It may also be a good idea to create an app that offers additional content that is tailored to a consumer’s needs.
Taking these steps can make it easier to get a potential borrower’s attention as early as possible in his or her home search. When that individual is ready to apply for a loan, there is a greater chance that he or she will seek you out to complete the process of obtaining financing.
A human connection is something that no smartphone app can offer to a consumer. Therefore, it’s important to exploit that competitive advantage if you are hoping to grow your mortgage lending business in the 21st century.