A Mortgage CRM Tip from the Deep South
I have a good buddy that lives in LA.
Lower Alabama, that is.
Yeah, he’s a good ole’ boy we call Bubba Blankenship.
Bubba’s always quick with a joke. One time he and his family were looking at homes. I asked what was most important to him. He said there were two attributes he wanted most.
1) To Harvest It
2) To Defend It
Farmers like Bubba have one asset – their land.
Mortgage professionals like you have one asset – your database.
And you need to harvest it and defend it.
Harvesting Your Database:
There’s gold in your database and there’s only one way to find that gold – dig. If you aren’t using Top of Mind’s Surefire System, you’re likely missing out on some of the gold that resides in your database.
Some of the gold we’ll dig for automatically:
1) Refinances – via our Opportunity Alert system. If a past client can save 1% on their rate – bang, you’re notified. If a borrower can save $100 or more on their payment – bang again. It’s 100% automatic.
2) Purchases – via our MLS Notification Alerts. This is one of the most powerful components of Surefire. When a client (or other contact in your database) lists their home for sale – bang, you’re notified. Fish in a barrel.
Defending Your Database:
The competitive environment in the mortgage business has never been so cut-throat. Your borrowers are being absolutely barraged with competitive messages.
1) From other mortgage companies
You know those mailers you get with pre-approved offers of credit? Yeah, your borrowers are getting those too. If you’re not in their mailbox too, you’re at a huge competitive disadvantage.
2) From the Loan Servicers
Have you ever wondered why a big bank is willing to pay service release premium? It’s not because they like your tie. They want your client to “cut out the middleman” and do their next transaction directly with the bank. Want proof, take a look at your mortgage statement at home.
If you’re not swimming in refinance activity right now, chances are excellent that you’ve been lacking in one of the areas above. There’s never a bad time to start picking up the right habits – you just have to commit and execute.