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Mortgage Professionals: You’re Busy but Your Client is Hurting

June 30th, 2020, arguably one of the busiest month ends of the year is upon us. In many cases, mortgage professionals are busier than ever trying to get files wrapped up, refi’s closed and business completed by end of day just as they have always done before.

But this is not like before….sure the busy work is the same but your client is very different. How are you handling the difference? Did you notice it? Do you care?

Look through your files closing today, what is the difference from June 30th’s past? Are clients closing these deals for the same reasons they always have? Or is something inherently different?

The way you assess this and the way you react moving forward, will ultimately determine whether your client ever returns.

As we slowly return to normal, your clients have been through some things, seen some things, felt some things they never have before. So have you. It is absolutely essential that we do not lose sight of that with our clients today and moving forward.

Some could be refinancing to recover from income loss, others could be using the funds to renovate a home to take in a less mobile relative after never wanting to return them to battered long term care facilities. Others may be buying bigger homes for the same reason, or downsizing due to layoffs. The list goes on, but the list is different. Very different.

So what do we do? We know we have to get things closed just as we did before but what of the client?

The answer lies in client experience.

Don’t give us the excuse you are too busy today. Don’t tell me you are spending too much time on the phone with underwriters and private lenders and BDM’s to get these deals done. Don’t say you don’t have time for your clients today, or that it’s the lawyers job to “take it from here”.

Saying it’s the lawyers job is like being the rescue helicopter with the coast guard who rescued your client at sea and then at the last second before landing on shore, you push them out hoping they land safely on the barge below. You just can’t push your client out right now.

Today, call them, check in. Stay close.

Tomorrow, when it’s all said and done. Call them, not email, call. Ask how they feel, ask how they are doing after everything is said and done. They will truly appreciate that the outside world and their mortgage broker cares.

Then have a touch plan for each client. Not just the June 30th clients, all new clients, that spans the length of their term. The modern client is looking for advice, ideas, and showing you care. The key to repeat business in the 20’s is going to be all about, staying visible, caring and being kind. You had better get started now.

The world has changed, we have changed. We may be “busier than ever” but it’s not the same as the “ever” you speak of. If you want your mortgage practice to sustain future success, you had better realize that.

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