What Unique Value-Add Services Set a Mortgage Broker Apart from Competitors?

    M

    What Unique Value-Add Services Set a Mortgage Broker Apart from Competitors?

    In the competitive landscape of the mortgage industry, professionals strive to distinguish their services, as evidenced by a founder who offers a unique Home Rehab Valuator to clients. Alongside insights from a sales coach and other industry experts, we've also gathered additional answers that highlight innovative services. From a guaranteed rate lock-in service to a digital document submission platform, discover the diverse value-adds that elevate the client experience.

    • Offer Home Rehab Valuator
    • Create Robust Follow-Up for Referral Partners
    • Utilize Interactive Online Mortgage Calculator
    • Offer Guaranteed Rate Lock-In Service
    • Create Custom Mobile App for Loan Monitoring
    • Allow for 24/7 Customer Service and Financial Advising
    • Utilize Digital Document Submission Platform

    Offer Home Rehab Valuator

    Our unique, value-added service that truly sets us apart from our competitors is our Home Rehab Valuator. This helps them identify and evaluate profitable investment opportunities! We understand the critical importance of swift, accurate assessments in making smart investment decisions. It's just one of the ways we're all about going above and beyond what our clients expect, helping them succeed in the fast-paced world of real estate investing.

    Loren Howard
    Loren HowardFounder, Prime Plus Mortgages

    Create Robust Follow-Up for Referral Partners

    For our referral partners, whom we service and add value to just like a client, we provide them with a robust follow-up service on our mutual leads/clients/database.

    The most difficult things that referral partners seem to struggle with are:

    1. Staying consistent with follow-up

    2. Not just having the "canned" content

    3. Adding value with the touches

    4. Asking for referrals

    In our follow-up process, we co-brand, and then we let the referral partner know what we did and what the result was.

    For example, when we send out copies of the settlement statements in January for tax purposes for clients who purchased the year prior, we include the agent in the letter. We talk about the agent and ask for referrals when we do the follow-up call on the physical mailing, and we let the agent know what is going on at each step of the process.

    Sean Wait
    Sean WaitSales Coach, W.E. Sales Coaching LLC

    Utilize Interactive Online Mortgage Calculator

    One unique value-add service a mortgage broker can offer is an interactive online mortgage calculator. These calculators enable potential clients to estimate their monthly repayments and interest costs in a simple and intuitive manner. This tool can also help them to determine how much they can afford to borrow before they even initiate the mortgage process.

    By providing this service, a mortgage broker empowers clients to make informed decisions about their finances. Check out such calculators to gain greater control over your mortgage planning.

    Offer Guaranteed Rate Lock-In Service

    A distinct service that some mortgage brokers provide is a guaranteed rate lock-in once pre-approval for a loan is secured. This means that the interest rate quoted at the time of pre-approval will not change before the actual loan is finalized, protecting clients from fluctuations in the market that could occur in the interim. This guarantee can offer peace of mind and financial stability for prospective homebuyers.

    It’s a beneficial provision for those looking to budget precisely for their future home. Ensure that you inquire about a guaranteed rate lock-in when seeking a mortgage broker.

    Create Custom Mobile App for Loan Monitoring

    Another unique aspect a mortgage broker could offer is a custom-designed mobile app for monitoring loan progress. This application would allow customers to check the status of their loan, view upcoming payment schedules, and receive notifications about their loan all from their mobile device.

    Such an innovation simplifies the loan management process, and keeps important information readily accessible.

    Allow for 24/7 Customer Service and Financial Advising

    Some mortgage brokers differentiate themselves by providing round-the-clock customer service combined with financial advising. Employing a team of advisors available 24/7 ensures that clients can receive support and answers to their questions whenever they need them, thereby reducing stress and confusion that may accompany the home-buying process. Access to financial advice at any time can be incredibly helpful.

    Utilize Digital Document Submission Platform

    A unique value-providing convenience and efficiency in acquiring a mortgage is the presence of a digital document submission platform. This hassle-free approach allows clients to easily upload necessary documentation from anywhere, removing the need to physically transport piles of paper documents. It streamlines the document submission process, saving time and resources.

    By using a brokerage service that offers this digital convenience, the mortgage application process becomes smoother and faster. Take advantage of digital platforms to experience a streamlined mortgage application process.