The key highlights from the fifth of our ongoing monthly coaching calls:
The main focus of this month’s call is the three things mortgage professionals look for when finding deals: Capacity, Intent, and Engagement. While many can simply buy capacity and intent, engagement cannot be bought. This leads to users having a distinct advantage over the competition, as they can leverage past relationships to find new deals rather than relying on cold calls or random lists. Leading to significantly higher success rates compared to broad direct marketing campaigns.
The call also touches on the importance of users using data for predictive alerts to better engage with their contacts early, especially in a market that is showing signs of shifting to lowering interest rates and giving originators a head start over the competition.
Watch the recording below to learn more. (Note: The provided recording takes place later in the call, as the first portion was missed. However, the bulk of the recording still contains many valuable insights for users.)
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Strategic Advantage: Engagement is a critical advantage in a competitive market. Being recognized as a real person, even with minimal prior interaction, increases the likelihood of successful contact.
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Engagement vs. Cold Calling: Engaging with known contacts offers a tenfold increase in success rates compared to cold calling or contacting strangers.
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Market Dynamics: When interest rates drop, or market conditions shift, re-engaging with your database can yield better results than starting fresh with new leads.
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Predictive Alerts: Using predictive alerts can help identify contacts who are likely to be interested in loan services in the near future, allowing for timely engagement.
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Re-engagement: Regularly revisiting and reassessing previous contacts can lead to new opportunities, especially as market conditions evolve.
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Non-Intrusive Engagement: The goal should be to check in and offer help rather than aggressively push for immediate business. This builds trust and positions you as a go-to resource when the contact is ready.