5 Things Every Mortgage Broker Should Be Doing

We want to show some tips and tricks to be better brokers and focus on getting your time back through automation tools, and be the best broker they can be by outsourcing things to our system.

Being a mortgage broker seems pretty simple on the surface. You work with homebuyers to find them the right mortgage for their needs and financial situation. But there is so much more involved in running a successful brokerage. You need to nurture and maintain clients, lenders, and realtors’ relationships while still having to be on top of changing rules and regulations in the industry.

There’s a lot to love about what you do. After all, you’re helping people fulfill their dreams, which is incredibly satisfying. However, keeping up with everything you need to stay on top of, isn’t always easy especially when you’re trying to build your business.

Becoming the Best Mortgage Broker: Five Actionable Tips

Without the right tools in place, even top performers tend to let things fall through the cracks. So today, we’re going to offer a few tips and tricks to help you stay focused on what matters and help you become the best mortgage agent you can be!

#1 Set Yourself Up for Success

Every day is a new story. You never know how it will play out, so it’s always a good idea to plan your schedule ahead of time. Use checklists, calendars, kanban boards, or apps to keep track of projects on the go—whatever works for you.

In the morning, look at your schedule and prioritize your to-do list. Do it while you have your coffee, and before you’re at your desk—the earlier, the better. Once you sit down at your computer, it’s too easy to get distracted. Knowing where to start will help you stay focused.

Schedule your day, so you have time in-between client appointments to catch up on phone calls, follow-ups, and marketing tasks.

If you have projects that require more time, think about putting your phone and other tools, like Cliq or Slack, on DND so you won’t be disturbed by notifications.

Keep your file system organized, so it’s easy to find the information you need.

#2 Put People First

When you’re focused on business growth, it’s easy to lose sight of the single most crucial element of what you do: people. Sure, the bottom line is important, but it’s the people that help you build it. And a good client is worth much more over time than they are as a one-off.

Quality is key. Think about ways you can help people achieve their goals. For example, if you’ve got first-time buyers who don’t think they’ll qualify, show them how they can. If their credit rating is an issue, don’t write them off—give them the tips and information they need to get their finances back on track. If they see you as an ally, they’re sure to come back when they’re ready.

For qualified buyers, be transparent about rates, payments, and terms to help them understand the pros and cons of each option.

Ultimately, it’s about delivering personalized, high-quality customer service. Be sure to make a note of your client’s personal details, such as anniversary dates, birthdays, and other milestones in their lives. Remembering these details shows that you are just as engaged in the process as they are, and it may help you adapt your advice to their circumstances.

#3 Don’t Avoid Tough Conversations

Sometimes the advice you offer won’t be what the client wants to hear. However, honesty and transparency go a long way, especially when you handle the situation well.

Don’t allow the situation to get emotional. Stick to the facts, and acknowledge their concerns. If tempers flare, allow them to vent. Sometimes, they just want to be heard. Above all, don’t take it personally. And this is a very important thing to remember: if they are upset with the situation, don’t let yourself get caught up in it because it’s not about you!

Don’t be afraid to speak to a colleague about your experience after the fact. They might have some valuable insights or ideas you can pass along to the client to help them get back on track.

#4 Focus on Relationship Building

New clients are great but don’t forget your past clients. Referrals are a massive source of business for mortgage brokers, and that doesn’t have to stop once you’ve helped put them in their homes. Keep track of birthdays, anniversaries, children’s birthdays, and even the anniversary of buying their home. Send out cards or celebratory emails to put a smile on their faces and keep that connection open. When it’s time to refinance, you’ll be the first person they think of.

We also have a blog post on How to Build Client Relationship as a Mortgage Broker, check it out!

#5 Put Technology to Work for You

Building a mortgage brokerage is hard work. The more clients you take on, the busier you get, and it’s easy for opportunities to fall through the cracks if you’re not on top of it. A modern CRM helps you manage your daily tasks efficiently and automates many tasks, like marketing, social posts, templated emails, scheduling, reminders, and more.

BluMortgage CRM is designed specifically for mortgage brokers and their unique needs. Based on the Zoho platform, its customer relationship management, content management, marketing platform, and application pipeline management are all in one. BluMortgage currently integrates with Velocity, Filogix Expert, FinMo, ScarlettDOS, BrokrBindr and Floify, but we are always adding new integrations to ensure that you’ll always have lender information and current rates at your fingertips.

Best of all, BluMortgage is so user-friendly that everyone in your office will love to use it. It simplifies workflows, automates many processes, and helps you stay on top of your leads, appointments, and deadlines so you won’t miss out on any opportunities.

If your mortgage business is in a growth phase, a mortgage CRM is an essential tool. It helps you make light of repetitive, time-consuming tasks so you can focus on giving your clients a highly personalized customer experience that they’ll love.

Book a BluMortgage demo today to discover all its features and find out how we can help you become the best mortgage broker!