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.
Jeff Schraeder
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