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With the New Year comes the rise in interest rates and the decline of the refinance. That means that lenders need to concentrate their attention on Realtors and Builders for new business in the New Year. Hopefully, originators remember how to do that.
This brings us back to good old customer service. Customers, the Realtors, builders, and buyers, require attention if you’re going to succeed in the purchase market. They require service before, during and after the transaction.
In a purchase market, it’s not one and done. Each deal lays the groundwork for continued and future business. One poor performance and it’s pretty tough to recover (just ask Mariah).
What are you doing to provide better customer service in 2017? Do you provide:
- Online rate and product information
- Pre-approvals
- Online applications and communications
- Automated verifications
- E-Communications with all parties
- Online loan status and updates
- Someone to talk to, when there’s a problem?
All of these are important. Regardless of how you do it, you must service your customers by providing each with what they need, when they need it, in whichever way they want it.
Your people need the systems, solutions, and technology to allow them to concentrate on servicing your customers, including who buy your loans. They’re a customer as well.
Quality and customer service go hand-in-hand toward a successful 2017, and beyond.
- Are you prepared to give all your customers what they want?
- Do you have the trained staff with adequate systems and technology to support their efforts?
- Can you streamline, or outsource, some operations to assist and allow your people to concentrate more on loan quality and customer service?
It’s time to take stock in what you do and how you do it.
In doing so, you may find you can increase business, have happier customers providing more referrals while reducing expenses by producing better quality loans that perform better for your investors.
Don’t overlook customer service in your quest for new business in the New Year. There’s no substitute for doing things the right way, and for providing consumers with the products and services they need.
