Managing Your Mortgage Refinance Boom

The multitude of government programs and stimulus packages has sparked another refinance boom. How are you managing this opportunity? Are you getting the job done? Are you positioning your client database for the future?

The last mortgage implosion should teach us a little about smartly managing opportunity.

Managing Opportunity

Many mortgage brokers are breathing a little sigh of relief as government stimulus has kicked up another refi boom. The question is are you thinking about how you are you are managing this for long-term opportunity?

Stop simply slinging loans and start building a business–this is the perfect time. Get a strategy to turn this into a seed strategy for long-term success.

Customers First

It all starts with the customer. Put them at the center of your refinance boom strategy. WOrk hard to give them a great experience. This will not only increase your closings and satisfaction, it will fill your sales queue with referrals.

Most homeowners are experiencing frustrating long waits for underwriting, processing, and closings. Minimize this frustrateion with frequent (pro-active) updates to clients in process.

Design long-term marketing campaigns that gives clients recurring value and make it easy for them to give you referrals.

Thinking About the Future

Step-back and give yourself time to think about the future.

What are you going to do to help these clients? Is there a way to more efficiently manage their contact information, follow-up, and special circumstances? How can I build a long-term value proposition?

I guarantee many will miss this opportunity–don’t let it be you.

Related articles by Zemanta

• House prices to fall further economists warn despite rise in mortgage approvals (telegraph.co.uk)
• Refinance rules causing confusion (seattletimes.nwsource.com)