In a conversation about broker channel integrity and how we present to our clients, I was recently asked “What makes a mortgage broker professional?” That is a great question. I think sometimes we get caught up in the daily activities of brokering and don’t always take the time to handle each client as professionally as we should. So here it goes, here is my list of 10 things a mortgage broker should do to create a professional client experience!
1. Greet your client properly - Meeting in person: greet the client with a firm handshake and let them know you appreciate them trusting you with their mortgage application. Online application: make sure your client can find your contact information, bio and picture online, this proves you are a real person. Once you have received the online application you should immediately send an email letting the client know that the application has been received and you will be in touch shortly.
2. Set expectations – It is crucial to set the tone for your time working together. Explain what your role is as a mortgage broker, what services you provide and what the client can expect from working with you. Explain the process and how things are going to work from start to finish. Also you should set out the expectations you have of them. This gives your client a framework to operate.
3. Know your client – Not every client will be the same, get to know them, pay attention to what they are telling you and figure out what is important to them. Do everything in your power to relate to your client and put your them at ease. Some clients will take more hand holding than others.
4. Communicate well – We deal with mortgages everyday, we get comfortable talking in terms of hundreds of thousands of dollars whereas for your client, this is the biggest financial decision they will make in their lives. Just because you know everything is coming along nicely, doesn’t mean your client does or that they are comfortable with the process. Assume your client wants to hear from you and keep in touch – if you are working on a live mortgage application- never go more than 36 hours without contacting them, even if it is just to let them know nothing has changed.
5. Walk your talk - If you set proper expectations – follow through with them! Do what you say you are going to do! It is so simple in theory, yet so many times this is overlooked. You have a couple weeks to shape your clients view of you – do it right.
6. Be fair - Its easy to be professional with the AAA clients, however make sure to provide the same level of service to clients who need some work before qualifying. Be constructive and give the “work in progress” client the information they need to get a mortgage (they are the AAA client of the future). Also, don’t let mortgage amount dictate your service level. Treat the $100k client the same as the $1M client – that’s integrity.
7. Be honest - Not every mortgage application will work out. Don’t be afraid to let a client know that they do not qualify at this time. This is a hard one to do well, I have heard countless stories from clients who were just left hanging from a previous broker stating that the broker was either “just too busy” or “didn’t return my calls or emails”. In reality I believe the broker was likely just afraid to deliver bad news.
8. Educate – There is nothing worse than a pushy salesperson – don’t be that broker! Consider yourself an educator rather than a salesperson. Granted there is a sales aspect to brokering. If you answer all your clients questions and educate them about the process, you provide value. When you provide value and meet expectations, your clients will appreciate you and then you will make the sale without having to be pushy.
9. Never lose your cool - It is never appropriate to lose your cool with a client. Always treat clients with respect, if problems arise you should continue to outline your expectations in a calm manner regardless of how they are acting.
10. Follow Up – Consider yourself as having a “client base” rather than “past clients” Keep in touch with all your clients, follow up regularly and continue to provide value to them. Social media is an excellent tool to help you accomplish this!
What else would you do to ensure a professional client experience?
