I read an article today that stated mortgage banks were going to spend more on technology this year than many years before. Technology in the mortgage world was on hold as everyone was making money with the systems they had in previous markets. Now lenders have to be more creative, get deals closed faster than the other banks, have huge customer database management systems, follow up contact management systems, etc...
My team and I at Sun American Mortgage Co. were sitting down discussing how we can gain more realtor relationships this year. We know we work with a great organization, who has a long and healthy history of over 26 years in business, an A+ Better Business Rating, and can close loans much faster than most lenders these days. We thought we had something great just because we work with a class act organization...but when we tried to talk to some new realtor relationships...the old we work for a good company speech did not do anything for us.
Instead of trying to continue selling the same "good company" routine; our team started researching new technology based tools to help us increase our realtor partner businesses. We have been spending money on some fantastic systems and tools that will no doubt help us attract and keep new realtor relationships. We built a new and better website at wwww.AZFHAMortgage.com; we started using our Loan Toolbox program more effectively, we became a sponsor for Free VisualShows.com accounts to help realtors showcase listings, we offer Text Message Sign Riders to listing agents, we use Facebook, Twitter and of course Active Rain. We have built a full arsenal of tools to help attract new realtor partner...AND...we are a great company who closes loans fast! This is a much easier sell now that we can offer soooo many great technology tools to our partners.
I can definitely see how much more we have spent on technology and I know many companies out there doing similar things to stay relevant. I think today we are riding a great wave in the mortgage industry and it is only going to get better with the technology that is and will be available.
Justin Vaught - Licensed Loan officer and Manager of The Vaught Team @ Sun American Mortgage Co. - Cell: 480-299-8565 - www.facebook.com/VaughtTeam - www.twitter.com/VaughtTeam - www.AZFHAMortgage.com
NMLS # 260072
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