“Provide outstanding service today and your clients will be yours for a lifetime.”
Consider the “lifetime value” of a customer (we’ll use the mortgage industry for our example because I’m currently in that business): his next refinance, her network of colleagues also in the market for a home, the agents in the transaction. These are all multipliers that will give you business well into the future. Three things to consider…
First, use this loan to get the next one. Be proactive in anticipating issues and prepare the customer in advance for what may be handed down by processing or the underwriter. Why? Borrowers are 2 times more likely to continue using a lender if the lender takes action on an issue (problem), compared to one that took no action (action meaning an apology or offer of compensation).
“If you yearn for the day when your existing book of clients and their referrals take up all your time, it starts here.”
Second, earn the right to be referred. These days, consumers have more places than ever to express their satisfaction or discontent – Yelp, Zillow and Social Survey. Not to mention a number of federal and state regulators wager to side with consumers in a dispute. While that certainly creates downside for those providing poor service, it creates a tremendous upside for you to become a winner in the eyes of your client.
Finally, there are two other stakeholders to impress in a purchase transaction: the buyer’s and seller’s agents. By engaging them in transparent communication about the loan progress and status, it’s quite possible you’ll be the best mortgage advisor they’ve ever worked with. That means on their next transaction, you’re the hero they will call in to save the day.
Living Life by Design 
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