Elevate Your Clients’ Loan Experience

Lessons From Sales Mastery
Loan Experience

Wondering how to better each client’s loan experience from open to close? How you interact with your borrowers and the information you share with them during the loan experience will grow your relationships.

During Sales Mastery 2020, many mortgage originators shared how to stand out in the industry and focus on a niche. So, maybe your niche is your constant communication with your clients! 

Todd Duncan, Linda Davidson, Lizy Hoeffer, and Lisa Mathews discuss ways to make your customer’s feel at home before they move into the home of their dreams. 

Loan Experience
“Sales is all about values and resolving people’s problems.” - Lizy Hoeffer

Streamline your automations and processes

Any business on a large scale runs on some sort of assembly line. So, write down the life of a borrower, from lead intake to post-closing, and consider what steps may be automated.

If steps are done the same way over and over again, simplify your tasks and have them repeat themselves. Also, mortgage automations are the systems that control processes behind-the-scenes. So, repetition and consistency are key when building trust with clients.

Todd says, “Automation has started [to create] a more predictable and ‘Wow I didn’t know they had it together like this,’ experience in terms of creating a brilliant consumer outcome.”

Todd Duncan

Founder, Speaker, Author
High Trust Selling

Niches work

Identifying a niche is simple once you discover what you are the best at. So, figure out that specific demographics’ biggest issue and then provide solutions. What can you train them and educate them on? Also, what is your specific expertise on it? 

Lizy Hoeffer says, “Do not be afraid to share your opinion on things. Also, consider when and how clients should purchase a home, and share your expert advice with them. That is how you win.”

Lizy Hoeffer 

Top Female Loan Officer
Cross Country Mortgage

Also, provide helpful information and consistently communicate to that demographic over and over again. Ultimately, niches lead to a solid client base as your marketing and intentions are more focused. So, this provides a better loan experience for everyone. 

Share your thoughts

As a mortgage originator, you are also a trusted advisor. So, offer opinions on when somebody should purchase and how they should spend their money. Also, this will build trust with your clients and help guide them through the loan process. 

So, teach your clients what a budget looks like. Also, provide a road map for how much they should be spending, how much their mortgage payment be, and how they can get out of debt and save money at the same time.

Lizy says, “There is no penalty for over-educating everyone in a home loan process.” 

So, although your opinions aren’t facts, it is your job to communicate them to borrowers. Also, educate yourself on finances and form an educated opinion that you are not afraid to share.

Control the narrative

Once a client chooses you as their loan officer, you become the person they go to. So, you become their expert on mortgages and financial advice. Also, consumers search you on the internet to view what advice you have and what content you are providing. 

So, show them the difference between you and any other loan originator. Also, give value and expertise to set yourself apart. 

Todd says, “Sales is value. You are providing value at the highest level because if you advise, then you have less price sensitivity, more loyalty, and a higher regard in grade of referrals.”

“People trust you when they trust your message.” - Todd Duncan

Serve your clients during the loan experience

Look to do what is best for the client and not for you. So, it might be best for business to do an FHA loan, but is it really best for the client? Do they need another loan? Also, seek out what will benefit them to achieve their goals. 

Ultimately, if you put the clients’ needs first, you leave people better than you find them. So, consider teaching people how to pay their mortgage off faster and establish a safety plan for themselves. 

Help them be prepared for the future. After all, their home should serve them just as much as you do. Lisa Mathews says, “At the end of the day, it’s all what you do to help people have the full experience. It’s not just about buying a house it’s about their whole lifestyle.”

Lisa Mathews

Branch Manager
Gateway Mortgage Group

Focus on connection

During the entire loan experience, make sure to keep humanity in the equation. Also, by adding value to people and keeping the human touch alive, you will gain more referrals. 

So, treat your borrowers like a person, not a number. They should matter to you and be able to call you and ask questions throughout the process. 

Linda Davidson says, “Looking at the landscape of top producers, almost everybody that can speak to elevating the customer experience has gone through a mind shift. Also, sales is about people, and buying a house is a very emotional thing.”

Linda Davidson

Branch Manager
Fairway Independent Mortgage Corporation

Duplicate loans

A great goal is for every closed loan to bring back another one. So, look at client retention and client growth. Also, referrals and advocates from other clients are very helpful. 

Lisa says, “Encourage people to become raving fans and want what you offer. So, instead of advertising, work with people who already know you, love you, know what you do and the kind of service you provide.”

Also, do not be afraid to ask for referrals. Ultimately, people like to make other people successful, just like you like to see your clients be successful in their home purchases. 

“Your success is defined by your willingness to be uncomfortable.” - Lizy Hoeffer

Bottom line

During the loan experience, encourage your clients in their choices, and reinforce that you are always here to help. Also, make them feel good and lead them to have a better life. So, learn what works for you and your mortgage business and serve your clients effectively.