A mortgage agent is an individual that’s specialized in finding mortgage lenders and borrowers and acting as a middle man between both. A highly ranked mortgage agent seeks a fit that’s suitable with the borrower’s current financial condition. Many mortgage brokers do this in the United States, so you have to be exceptional to stand out from the crowd. Therefore, mortgage agents are out seeking chances that help them stay afloat and beat their competitors. Below are five essential tenets to help you stay at the top of the mortgage industry.
Five Popular Acts of Highly Ranked Mortgage Agents
As an industry professional, many home buyers will bombard you with questions before they finally settle for a house they like. Learn to answer questions clearly, and on time. Most of the popular questions you will get from potential clients include:
- What’s the best way to choose a mortgage lender?
- What are the current mortgage rates in the market?
- How many lenders are you in partnership with?
- Does my credit history and score affect my eligibility and rate?
- What are the required steps to move forward in this process?
- What do I do when one lender denies my application?
When you’re experienced, you won’t be surprised by any questions. You are more likely to answer immediately and with confidence. The trick to being great at this is to always listen to your client’s initial concerns and questions.
- Efficient communication
People are more likely to gravitate toward those that understand them better. So a way to do this is by communicating efficiently with your clients. Good communication assures your lead that they are in the right hands. Moreover, if you purchase leads and lack the communication skills required to build a working relationship with that person, it means the information was dead on arrival.
A good mortgage agent will use these tips:
- Avoid delay: When the lead arrives in your email, you must reach out to that potential home buyer to show your interest. If you don’t, another agent will call them, and you might be too late.
- Find the best way that’s convenient for them to communicate: Different home buyers have their best method of communicating. Some of them will enjoy meeting in person, while others will like emails or calls. Ask them what works for them and add this to your schedule.
- Don’t bug them: It is okay to want more clients but avoid persuading as it can quickly become intrusive. Give customers time to engage in other things. If you push too hard, you might end up losing them.
- Always put your client first
This can seem complicated at first but being a mortgage agent means you have to do what’s in the best interest of your clients. A highly ranked mortgage agent has the trust of his customers, so they’re always around when they need help with a house.
Sometimes it’s tempting to merge borrowers with lenders who charge a high fee because of the referral interest rate involved but remember that your business should always help people and not make them miserable. So you must stay honest and trustworthy to sustain your business in the long run.
- Always handle problems amicably
A highly ranked mortgage agent faces reality in business transactions. There’s no need to sugarcoat things that might end up blowing up in one’s face. For instance, if a potential home buyer has fair credit, you must explain the implications of this to them. Having an acceptable credit means:
- Their credit history isn’t good enough for the mortgage loan, and they might need to improve it.
- It might be challenging to find a lender that’s willing to work with them.
So when you explain to your potential customer, they will see the risk at hand and understand that they might not get their dream house with a bad credit score. Always put in that dedication to make your clients happy.
- Stay in touch but don’t be a pest
Yes, it’s okay to check in on your clients from time to time but make sure you’re not crossing the line. A highly ranked mortgage agent won’t fall into the trap of pestering their clients. This single act can push them away for a very long time.
For starters, you can arm your client with the necessary information needed to make a decision. Provide the value they stand to gain from working with you and creating a calendar schedule that works for you both. Also, check-in from time to time to ensure that your client is still on the right path with their lender.
Don’t call every day or during off-hours to communicate with them. Respect boundaries and avoid intruding on their privacy.
To conclude, many mortgages are gotten in the United States, primarily refinance mortgages and fresh home purchases. For anyone to become a highly ranked mortgage agent, you must go the extra mile and take swift actions that your competitors might be ignoring. Take the opportunity today and carry out these steps when dealing with a client: answer questions promptly, communicate efficiently, do what’s best for your customers, be a problem solver and stay connected without being intrusive.
If you’re wondering where to find the best mortgage leads for your business, check MortgageLeads.com.