The ABCs of Customer Service

In today’s highly competitive homebuying landscape, a positive customer experience is critical. In fact, in 2019, a staggering 84% of consumers reported that the experience provided by a company is equally as important as its available products and services. This is perhaps even more true in customer-centric roles, such as mortgage loan origination.   So, how can busy MLOs ensure their customer service approach is up to par? Luckily, it’s about as easy as A-B-C.  

Attention to detail

Purchasing a home is often one of the biggest —if not the biggest — financial decision in an individual’s life. For each and every interaction with a customer, you’ll want to ensure all the t’s are crossed and the i’s are dotted.  

Benefits

With more than 300,000 MLOs employed across the country, great customer service includes being clear about the benefits of working with you. Be sure to clarify precisely why someone should choose you over the competition.  

Communication

Nothing kills the customer experience quite like unanswered phone calls! Clear, consistent communication across platforms can make or break the process.  

Dedication

The most effective professionals in any field are often those who put a bit of their heart and soul into each and every project. Demonstrating a commitment to the work, your clients, and their outcomes can set you apart.  

Empower

Unfortunately, many Americans lack context and knowledge when it comes to home finances. For example, just last year, a quarter of owners didn’t know the interest rate on their mortgage loan. Empowering clients with knowledge throughout the process can vastly improve their experience and invite repeat business.  

Flexibility

Whether rescheduling meetings or coming to terms with losing a lead, flexibility is key. An adaptable attitude will make you easier to work with, plus curb feelings of disappointment or frustration on your end when it doesn’t work out.  

Growth

The consumer experience is constantly evolving, so you should be, too. Prioritize growing as a professional to consistently deliver the best service possible.  

Honesty

In business and in life, honesty is the best policy. Candor and integrity demonstrate your respect for the customer, so never stretch the truth or sugarcoat.  

Internet

In 2021, customer service and the internet and undoubtedly intertwined. More than 30 million customers now use Yelp to rate and comment on their establishments of choice and a whopping 39% of borrowers report finding their lenders online. Today, customer service typically involves some help from the world wide web.  

Journey

Great customer service isn’t a one-time thing. It’s every client, every transaction, every day. Remember to think long-term and focus on the customer journey.  

Keep your word

If you say you’re going to do something, follow through. Relationships of all kinds are built on mutual trust and, if you break your word, you may not be able to salvage the customer experience.  

Loyalty

When you’re loyal to the customer, they’ll often return the favor. You’re a part of their homebuying team, and their success hinges partly on your ability to be a team player.  

Management

Whether you’re managing your time or employees, strategic, compassionate supervision is critical. Taking an active role in each of your responsibilities can ensure a smooth, seamless transaction.  

Networking

The very best professionals are constantly learning from and connecting with others. Grow your network to encourage new ideas and, when appropriate, don’t hesitate to connect clients and other contacts with anyone they might find helpful.  

Options

Of course, mortgage is never one-size-fits-all. Developing a thorough understanding of all loan products and exploring options for each customer can help provide a stand-out experience.  

Personalization

In the same vein, tailoring communication, marketing materials, and recommendations to each unique client can help convey your dedication and expertise. This human touch fosters relationships and encourages connection with customers.  

Quality

Of course, all the personalization in the world can’t make up for an overall low-quality experience. Investigate every touchpoint in your customer’s journey to ensure quality at every level.  

Recognition

The very best customer experiences attract attention and invite recognition. You don’t necessarily need a shelf full of fancy customer experience awards, but aim to stand out from the competition so completely that clients can’t help but comment on your exceptional approach.  

Smile

One of the easiest tips, but perhaps the most important! Anyone and everyone recognizes and appreciates a smile. While it can be tough after a particularly long day, try to open every interaction with warmth and kindness.  

Trust

Building trust is a painstaking process and it can be lost in an instant. Nurturing client relationships can help ensure mutual faith and position you as a highly trustworthy professional.  

Under-promise and over-deliver

Overestimating turnaround times or costs, as appropriate, can help ensure you never break a promise or lose trust. Plus, when the customer sees your final offer, it may feel like they’re getting a deal or you delivered ahead of schedule. Who wouldn’t love that?  

Value

In any field, customers want to feel like they’re receiving a fair trade for their hard-earned cash. Get clear on the value you provide and how it stacks up to the competition to ease any anxiety and instill confidence.  

Wow

The ultimate goal is to wow the customer, whether through cost, turnaround times, or even overall attitude. Approach each and every interaction with this in mind to provide a truly standout experience.  

Extra mile

In the same vein, try to go the extra mile whenever possible. Exceptionally dedicated professionals who are willing to go above and beyond are often richly rewarded for their efforts.  

Years

Remember to fine-tune your customer service process as the years go by. Standards, best practices, and norms are constantly changing. Regularly explore new approaches and constantly seek to improve.  

Zeal

Approaching each interaction with enthusiasm is the ultimate mark of great customer service. Clients are sure to appreciate and unlikely to forget an authentically impassioned professional.  

From attention to detail to zeal, studying up on a few tried-and-true customer service practices can make or break an MLO. Work to ensure your clients receive the very best and don’t forget to continue learning along the way.