Sunday, February 28

4 Popular CRM Features for Mortgage Brokers

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Just like any other business, customer relations is an important aspect of growth for mortgage companies. There are many different players in the mortgage market, each vying for the business of people in the housing market.

In order to get a competitive edge over others, every mortgage broker needs to seriously consider the use of a customer relationship management (CRM) software. Below are reasons why these applications should be considered and why it just may give you the advantage you need as a mortgage broker.

1. Finding the right customers

Mortgage brokers that incorporate CRM software into their everyday repertoire will not need to sit and wait for potential customers to come to them. In the real estate industry, a mortgage broker can seek out specific areas that are thriving and target people who may be interested in purchasing a home in this location.

CRM software is efficient in giving a mortgage broker a snapshot of what type of customer may be in the market to buy a home by allowing the user to apply filters to show only the information needed. After the user defines these, the software is capable of analyzing behaviors and provide an accurate report based on this information.

2. Tracking of sales leads

You do not want to spend too much time, money, and resources on deals that end up not materializing or on clients who are not serious about a mortgage. This will ultimately leave you frustrated, exhausted, and not very competitive in the mortgage market. A good CRM platform will aid you in organizing your leads according to priority.

With its proper use, you will be able to allocate your resources in a way that allows you to offer the most attention to the most promising customers. Also, you will still be on the lookout for new ones, and still give attention to existing clients in hope they will turn to you for future business. This is a balance that must be learned to be successful as a mortgage broker, but it is a skill that can definitely be made easier through the use of CRM software.

3. Responsive

As a mortgage broker, you want to have the ability to be available and responsive to clients all hours of the day as this could be the difference between a successful deal and a potential client going elsewhere. With CRM software, this is possible.

With the rise in popularity of mobile devices, CRM software is available on many different platforms and this allows you to keep in constant contact with current and potential clients. For example, if someone completes a contact form on your website requesting service, alerts sent to your phone or tablet through the software allows you to respond as quickly as possible.

4. Nurturing past relationships

The average person will not only buy one house in their lifetime meaning that a past client of yours could easily turn into a future one. If this client was satisfied with your service, there is no reason to think they will not return. For this reason, it is crucial to nurture past relationships with clients. CRM software allows you to easily do this because it maintains a database of all client’s information. This will allow you to touch base with them periodically and offer your services.

For example, automated services such as email templates allow you to send out emails to past clients on the anniversary of when they moved into their house. You can also set parameters in the software that give you reminders of when a past client’s mortgage will be up for renewal. This allows you to send an email or letter offering to set an appointment with them to discuss a new mortgage agreement.


About Author

Fiona Thompson

Staff writer / Avid internet junkie / Devoted music aficionado