Top Tips To Make Your Mortgage Offer Stand Out In 2021
Prospective borrowers expect more from mortgage providers than ever before, and standing out in the age of instant gratification and fierce digital marketing competition isn’t getting any easier. With that said, consumers are still human, and they love a lender that offers them a personal touch. Implement the two tips below to make sure you stay ahead of the curve and help your mortgage offer stand out today.
1. Keep Your Application Process As Simple As Possible
It was Albert Einstein who famously remarked that anything important should be as simple as possible but not any simpler, and this guidance definitely applies to your mortgage application form. As they go about their day, consumers are used to ordering groceries with one click, calling an Uber in under 30 seconds, and generally getting what they want as soon as they decide they want it.
Thus, it’s important to remove any unnecessary questions from your mortgage application form and gamify the process as much as possible. There’s some information that you absolutely have to collect to make a responsible lending decision, but the last thing you want to do is turn a prospect off because they feel like they’re being interrogated.
When you’re designing your application, remember that the person completing the form will be providing sensitive financial information without knowing exactly who will be reading it. With this in mind, keep the general tone of the questions on the application as brief and friendly as possible.
2. Build Trust And Rapport By Educating Prospective Borrowers
Thanks in large part to the reckless and fraudulent behavior of a few large banks during the first decade of the 21st century, mortgage lenders don’t exactly have a stellar reputation in many people’s minds. Although it’s a good bet that your prospects may be suspicious of you by default, this doesn’t mean that you can’t win them over by giving them legitimately helpful advice before they apply.
More than ever, it’s important to differentiate your mortgage offer by helping your borrower understand how your terms are a good fit for their specific circumstance. Always be more than willing to answer any questions they have and don’t hesitate to clarify why your lending offer has the specific terms that it does. Creating educational videos, free tutorials, and lots of social media content around your offer can go a long way towards building trust.
Making your mortgage offer stand out today is much more about providing personalized support and a customized borrowing experience than at any point in the past. Money is a commodity, and a competitor can always try to undercut you on the interest rate or other terms. What most competitors won’t put the effort in to do, however, is spend the time necessary to build the type of trust that produces lifelong customers.
Have questions? Speak to an expert for more information.