Giving the Best Possible Service Means….

In an age where the competition is fierce and so many organizations push the promotion of the lowest interest rates and financial savings, does giving the best possible service even matter anymore? Will offering the best service matter to the more frugal prospects that are often pre-occupied with the bottom line? We think so. 

The purchasing of a home is one of the largest investments an individual makes, and likewise, arranging a mortgage is one of the largest financial products an individual borrows. While this should be a happy time for many, the process of finding, purchasing and financing is often actually quite stressful. 

Putting the emphasis on guaranteed lowest rates is something that many agents, brokers and financial institutions promote, but this really only represents 1 piece of the puzzle. Is a single customer only worth a single mortgage or could they potentially be worth 5 – 6 – 7 mortgages once they have referred their friends and family to you?

This is why service, above all else, matters, and funny enough it really is the small things that count! Let’s look at some of the small stuff that could mean the difference between a lifelong relationship and a single instance mortgage.

Making promises you may or may not be able to keep. This is a huge issue in the mortgage industry. Some agents, when trying to land a deal, will assure their prospect of an approval and sometimes even what they think the approval terms will look like. This can become a major problem. After the initial application, or each time a small component of what was promised changes, the little cracks begin to show, thereby leading to a relationship crumbling to the point where it cannot be repaired. Your client will respect you more if you present their options but tell them that you are negotiating with third parties and insurers – nothing is a sure bet but you will work your hardest to get them where they want to be.

Turn-around time. When someone is depending on you to arrange financing to make their dreams come true – or on the other hand, refinancing to resolve some form of financial or other problem – every moment that passes can feel like an eternity. Whether you have an answer or not, when you say you will call, call.  Don’t commit to aggressive timelines to achieve approvals unless you are 100% sure you can meet them. In this industry you are heavily dependent on third parties and they will often let you down with regard to timelines.

Listening and caring. Great service includes making a real connection with your clients - becoming more than just a rate shopper is crucial. By learning about their family, their short and long term financial goals, what they hope to achieve for their children is important in this equation. This will not only build relationships for life, it will also help you to know when to approach them concerning ongoing financial needs. Also, we suggest putting some focus into learning and understanding more about credit and other lending products that are not mortgages – whether you offer them or not. This way, when your customer needs financial advice they will turn to you as a central source for information. You can align yourself with other providers of peripheral financial services and establish referral relationships that can prove to be very fruitful in the long run.

Offering the best service is not difficult and is not expensive. It does however require consistency and sincerity. Offering the best service is one way that you can compete without having to have deep pockets and a large marketing budget.

For more ways to enhance your service and ensure long term relationships please contact Purview For Mortgage Brokers today by calling 1-855-787-8439.