6 Ways to Keep Borrowers Satisfied

The 2016 J.D. Power U.S. Primary Mortgage Origination Satisfaction Survey found four in five homebuyers were satisfied with their lender choice, which is great news. While the overall satisfaction rate was good, here are some tips on how to ensure that your own clients’ satisfaction rates register even higher.

  1. Use meeting opportunities to educate. Even when a survey respondent felt they had received a good deal, they lacked a clear understanding of how they ended up with it. This made them feel disconnected from the process. Taking an educational approach by guiding clients through the program selection process can lead to a greater sense of self-determination.
  2. Be patient. As frustrating as it can be, operate on the client’s schedule. Individuals process information at different speeds. Let your client take the time they need to make their choice, even when the choice is obvious. This lets them feel like they are in control of the transaction.
  3. Anticipate needs. Satisfaction comes from knowing a fee paid to a professional is being earned. When a client has to call you, it can feel like they are working too hard. Try to anticipate the answers they need before they realize they have a question.
  4. Be appreciative. The easiest way to make a client feel good about a transaction, even one that may have experienced a few hiccups along the way, is to thank them for their business after the closing with a simple handwritten thank you note.
  5. Be collaborative. Mobile technology lets you be reachable even when you are on the go. Being readily available is a great way to reassure anxious clients. The transparency it fosters and your availability can also lead to a more lasting relationship with Real Estate Agents.
  6. Invite feedback. After the client has closed, dealt with the stress of their move, and made a payment, follow up with an opportunity to provide feedback. This creates a means of channeling any criticisms to you and away from public forums. If they express any, let them know you’ve heard them and how you expect to incorporate their suggestions into future transactions. This can help diffuse any further venting.

Given the nature of the digital world we all live in, there are numerous ways experiences and reviews are shared. The best practice of all is to ensure that all your reviews foster your new business efforts, rather than hinder them. Being consistently proactive, can help keep your own satisfaction ratings close to 100 percent.