Simple Tips for Creating Lifelong Customers
For many professionals, customer retention and satisfaction are important benchmarks of success, and the mortgage industry is no different. Ensuring customers walk away feeling overwhelmingly positive, especially during one of the largest financial commitments they will ever take on, is a critical step in creating customers for life.
As lenders strive to offer borrowers the most seamless, straightforward process possible, technology has inevitably found itself at the heart of the mortgage process. Even though customers rely on tech-driven convenience and speed, it can be easy to lose the personal connection that so many borrowers have grown accustomed to. Borrowers are people first, and they depend on their home loan heroes throughout their mortgage journey – check out our favorite tips to humanize the loan process and deliver a superior customer experience.
Keep Lines of Communication Open
Because you’re the mortgage expert and understand the ins and outs of the homebuying process, borrowers are going to rely on your expertise. In fact, according to the National Association of Realtors’ (NAR) 2024 Profile of Home Buyers and Sellers, while all buyers utilize the internet in their search for a new home (and in fact 69% of buyers are using mobile or tablet devices), “Real estate agents played a crucial role, with 86 percent of all buys utilizing their services – the highest of all information sources used.” So, whether you prefer calls, texts, or emails, make sure borrowers know that their one-stop mortgage resource is just a moment away and is available for any questions.
Connect Emotionally
Ahh, the highs and lows of purchasing a home. From happiness to stress to excitement, buyers are typically all over the emotional map as they navigate their homeownership journey. As their guide, you can help empower customers by actively listening and asking thoughtful questions to ensure they feel confident in their decision. Empathy goes a long way.
Set The Stage for Repeated Successes
While it’s easy to move onto the next loan after you’ve gotten the Clear to Close notice, it’s important to remember a positive experience from application to closing can create customers (and referrals) for life. So, after the borrower is settled into their new home, going the extra mile and sending a welcome home note is a simple way to ensure they remember their mortgage experience fondly and leave the metaphoric door open for future transactions.
Hopefully these ideas are just a starting point for making meaningful borrower relationships a habit. Ready to have the latest mortgage insights conveniently delivered to your email inbox? Sign up for the wemlo newsletter to stay up to date.
Originally published on January 24, 2022, updated on February 3, 2025
