Maintaining Client Loyalty

Mortgage and Lending with Southwest Funding

As mortgage professionals, we are always in danger of losing our clients to competitors and to mortgage lenders. Many of your competitors purchase lists from the credit bureaus for recent mortgage related inquiries. List vendors sell a targeted list for homeowners in ARMs that are ready to adjust. Even some mortgage lenders monitor the credit reports for their own clients watching for inquiries from other mortgage brokers. These lenders will then contact the client with a competitive offer.

It is important to form a close relationship with your clients. That, in a sense, makes them immune to any sales pitch by your competitors. Here are a few ideas to help you stay in close relationship with your clients:

1. Stay in contact with your clients on a regular basis: once a month at minimum. One easy method is to create a newsletter or email campaign keeping your information in front of them.

2. Don't miss opportunities to WOW your clients as often as you can. I learned of an example of a dentist who was tired of customers being afraid to see him. This dentist completely changed his office to look like someone's living room. When patients came to visit, they now experienced the aroma of freshly baked cinnamon buns in the air (sugar free) that they could enjoy with coffee or tea. The receptionist was no longer behind a little window that stays closed off to clients. Instead she sits out in the middle of the office to greet the patients. This dentist now has a referral-only practice, and more business than he can staff to accommodate it.

3. Get to know your clients and let them get to know you. Show your personality. Let them know about your family. Creating a personal connection will help to increase customer loyalty. Keep them informed about how your kids are doing in school and vice-versa. Have customer appreciation parties. Have house warming parties. Create opportunities to know your clients socially.

4. Become a customer of your clients. If one of your clients owns a dry cleaners, take your clothes there. Eat a client's restaurant. Purchase that new cell phone from their son. Reward your clients for doing business with you.

DFW Loan Officer 

Jeff Schraeder

Imperial Mortgage



Comments (4)

Ron Hackett
Coldwell Banker Heart of the Hills - Kerrville, TX
Jeff Thats what is so fantastic about our economic system. I truly believe in doing that I wouldn't have it any other way. Sometimes I think I blab too much about my family and experiences but sometimes when I listen to my clients I see a light in their eye and it shows that i can relate to their experiences.
Jun 05, 2007 02:39 PM
Leo Namiot - SimplerHomeLoan
Canopy Mortgage - Leo Namiot - Saint Augustine, FL
Before you chose a lender check my rates and fees
Jeff, I could not have said it better, take care of your customers or someone else will! Those of us who take this professiona seriously understand this.
Jun 05, 2007 02:42 PM
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Jeff,

You have some very good stuff there, thanks.

A Realtor and trainer by the name of Rick DeLuca put it very simply to be referable: 1. Show up exactly when you say you will 2. Do exactly what you said you were going to do 3. Say please and thank you a lot.

I'm a huge believer of personal referrals and repeat business myself, that type of business has saved my bacon many times. Last year each and every transaction was either repeat or referral, 100%. That was my first, it's usually about 93%. So far this year, each closing has been the same, second generation clients. Today I wrote an offer, also second generation, daughter of a past client. Guess there is something to be said about being a geezer in r.e.

Keep up the great work.

Jun 05, 2007 03:19 PM
Thanks for all the great replies. thanks
Jun 06, 2007 03:00 AM