One of the biggest boosters for our business was simply setting up systems to ensure that every email and phone call receives a concrete response within 60 minutes.
We learned also that the responses need to be from somebody who is trained and seasoned as well; the responses cannot be “canned” or from an untrained “dialer.” This is also why we set up weekend coverage for referral sources and borrowers.
Most companies fail miserably when it comes to response times.
I was reminded of this today when I read the below fascinating commentary from Rob Chrisman (the premier blogger in the mortgage industry). Conclusion: If you want more business, make sure everyone gets called back or emailed promptly. Simplest business advice ever.
How quickly do consumers expect a company to respond to their online inquiries? How well does the mortgage industry meet that expectation? Recently, InSellerate, a Sales Automation System designed specifically for the mortgage industry, researched these questions. They sent digital inquiries to 1,029 mortgage companies scheduled to attend the 2016 MBA Expo. The results found that most companies did not meet consumers’ expectations. While 72% of consumers expect a company to respond to an online inquiry within an hour or less over 64% of the companies contacted did not respond to the inquiry at all. Of those companies that did respond, half of them failed in meeting the deadline. For a summary of the findings, click here.
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646