NOVEMBER 8TH, 2018

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More proof as to why the A game is the ONLY game: interest rates have hit an 8-year high this week, and mortgage app activity is feeling the effects of it, dropping 4% from last week. There are 3 things you must do to turn rising rates into rising production:

  1. Start building valuable relationships right out of the gate. If you lead into a conversation with a transactional attitude and a mortgage focus, you’ve already lost. You need to enter a real conversation and build value right upfront if you’re going to differentiate yourself and compete in the marketplace.

  2. Focus on customer experience, not price and product. It is essential to shift the borrower’s mindset from rates and fees over to their experience, which means establishing strong trust and loyalty. How? By being an advocate, providing monetary and service benefits, and doing a stellar job from start to finish. As they say, there are no shortcuts on the road to success.

  3. Present multiple options. The order-taking mentality needs to be a thing of the past. If you want to win a customer’s business, you must build several different options that are tied directly back to that borrower’s specific financial goals and personal situation.

Beau Vermillion