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How to Build Client Relationship as a Mortgage Broker

When completing a mortgage transaction in Canada, the client must renew their mortgage every five years, but some may choose to do that even earlier.  As a broker, if a client renews elsewhere—with the bank or another broker, for example—you will lose the potential commission you would receive if you were to renew the client yourself.

Today, we’re going to look at six ways to build client relationships as a mortgage broker in order to retain customers, maximize income potential, and avoid losing business to another financial outlet.

Top 6 Ways to Build Client Relationships as a Mortgage Broker

Automated Communication

When you’re busy building your business and serving customers, it’s easy to let things fall through the cracks. Ultimately, you want to make sure you stay connected to your customers to ensure their needs are met, and CRM automation helps you do that. CRM automation can automate Messenger and social media responses, ensuring that no lead falls through the cracks, even when you’re up to your eyeballs.

From sending timely reminders to marketing new products or sending high-value content, consistent messaging ensures you stay top-of-mind with your clientele without any extra effort on your part. With automation, you’ll have more time to focus on nurturing new clients, closing deals, and building strategy.

Provide Valuable Content

Your customers are homeowners—and homeowners appreciate tips and advice on ways to improve their quality of life and the value of their homes. This type of valuable information is always welcome, especially when the result is money saved, comfort optimized, or surroundings beautified.

Some examples of content you can create include seasonal checklists, tips on design trends, landscaping ideas, and ways to save money on energy bills. Your advice positions you as an expert and keeps customers coming back for more. Plus, the content you create gives you something to post on your social channels, helping to improve organic (unpaid) online engagement and widen your audience.

Reach Clients on Their Terms

These days, there are so many ways to connect with businesses. Customers have an expectation that they ought to be able to communicate with their preferred brands from any platform they choose, whether that’s through social media, email, Messenger, WhatsApp, telephone, or live chat on your website. Don’t limit yourself to one or two methods—embrace them all!

Fortunately, your CRM helps you connect all the dots, so it’s no extra burden at all. All communications come to a central dashboard, so you can move between different contact modes without switching back and forth to different apps. All customer communication is consolidated in one place, so when you are speaking directly with the customer, you’ll be able to see every conversation, every request, and every concern they’ve had over their entire lifecycle with you.

Make it Personal

Personalization improves your customer communication and helps you make more meaningful connections. Every email or text addresses them directly and by name, and even the messaging can be customized to reflect their status. For example, you would probably word a message a little differently for a new customer than you would for one who’s been with you for many years, and the content might be a little different too.

Personalized messages on their birthday, anniversary, or to celebrate a milestone always delight, and it’s these types of gestures that they’ll remember for a long time to come. For your best customers, you might even think about sending thoughtful gifts, like glassware, a bottle of wine, or a cookbook. As far as customer retention goes, this is a big one. People prefer to do business with companies and people that know them and understand their needs. Establishing new relationships takes time and energy. When your customers know you’re there for them, there’s no reason to jump ship.

Keep It Simple: Use Templates.

Maintaining a consistent look and tone for all communications improves open rates for emails and other content. Most people are very busy, and the more recognizable your outgoing messages are, the better your engagement metrics will be.

Using templates is an excellent way to keep it simple on your end. Pre-defined templates save time and ensure a streamlined effort across the board, even if another employee authors the message. You can set up pre-defined templates for emails or SMS, and when you’re ready to send, simply fill them out, schedule, and go.

Ask for Feedback

Everybody has an opinion, and there’s not a soul who doesn’t want to be asked if they have one. Reaching out to request their thoughts on your services and customer service factors helps you understand what you’re doing right and correct course quickly if something isn’t quite right.

The trouble is with our current “ratings and reviews” society is that people will more often take the time to offer negative feedback, but when they’re happy, it doesn’t cross their minds. Feedback, to a mortgage broker, is essential for many reasons. It shows the customer you’re paying attention and that you care about what they think. It alerts you to potential new services you might not have considered, and it sets the stage for innovation.

Lastly, feedback keeps the lines of communication open. When your customers know you are there for them, it builds loyalty, and there won’t be any question about who they will choose when it comes time to refinance.

How BluMortgage Answers These Needs

So, now that you’re armed with our six top tips for customer retention, it’s time to put them into action. BluMortgage CRM is purpose-built for mortgage brokers and provides all the features you need to stay connected with your clientele, track and nurture leads efficiently, and, most importantly—boost retention.

Are you ready to put your retention strategy into action? BluMortgage combines CRM, advanced marketing features, deal flow, and lead follow-up into a single user-friendly solution you’ll love. We put customer retention on autopilot, so you can focus on what matters most. Reach out to learn more about BluMortgage or book your demo today.

BluMortgage versus Expert Pro (Doorr)

So many of our mortgage broker clients ask us about the difference between BluMortgage and Filogix Expert Pro (formerly known as Doorr), so we thought it would be a good idea to go over some of the finer points. Ultimately, we developed BluMortgage to streamline workflows and fill the functional gaps that other systems have. We tend to think it’s a superior solution for brokers who are serious about growth—but we’ll let you be the judge.

Today, let’s compare BluMortgage and Expert Pro and see what’s under the hood.

Filogix Expert Pro (Doorr) Overview

Expert Pro is the premium, paid, full-featured version of the Filogix suite of solutions that includes Filogix Expert, Expert Plus, and Expert Pro. Filogix connects mortgage brokers with lenders, and depending on the solution you choose, it supports lender submissions, contact management, referrals, document storage, and more.

Upgrading to Filogix Expert Pro enables a few more premium features, such as integrated e-signatures, workflow automation, integrated email marketing, and bank statement retrieval. Since many mortgage brokers in Canada already use Filogix to connect to lenders, having the added features and functionality you need to manage your deals all in one place is an attractive idea.

You’re already familiar with the look and feel of the Filogix system, and it does give you added flexibility, but it does not replace your CRM. Truthfully, Expert Pro focuses more on the underwriting aspect of the mortgage transaction, so most of the features are geared towards those efforts.

Ultimately, if you’re looking for a fully integrated, single-source-of-truth type solution, you’ll need to connect other third-party apps or find a CRM solution that integrates with Filogix so you can create a tech stack that works for you.

As for pricing, they’re not very transparent about it. If you want to upgrade to Expert Pro—or even request pricing information—you’ll need to speak to someone in their sales department.

BluMortgage Overview

BluMortgage is a cloud-based CRM built on the Zoho platform, one of the most powerful and complete CRMs on the market today. Our end-to-end solution is designed specifically for mortgage brokers and made to make their life simpler by consolidating every possible function needed—and then some—into a single interface.

Here are some of the things that make BluMortgage stand-out versus Filogix Expert Pro for our high-growth customers:

Fully Customizable

You’ve spent a lot of time and effort on your branding, so why should you have to be tied to another company’s look? With BluMortgage, the system is fully customizable to ensure your outreach is always on-brand.

Plus, BluMortgage offers customizable templates explicitly designed with a mortgage broker’s needs in mind, so you can get up and running without skipping a beat. Templates self-populate with customer data, saving you the time and hassle of repeatedly inputting client and lender information.

Truly Independent

BluMortgage is an independent software system that does not own your data. It is not owned by any network, meaning that you own your data 100%. When using other systems, like Expert Pro, you stand to lose data if you choose to jump ship, and that’s not a route anybody should be forced to take. We make it easy to migrate your data and contacts from other systems, so you can make the switch and get going with a minimum of downtime.

More Origination Options

BluMortgage integrates with almost all origination systems in Canada, which makes doing what you do so much easier. You don’t have to switch back and forth between systems to find the best deals for your clients, and you’ll only have to enter your information once to access all the information you need. Having more choices is always better, as it offers buyers the opportunity to find a lender and a mortgage that works for them.

Save Time and Get More Done

BluMortgage enables powerful workflow automation to help your team get more done in less time. By automating the initial stages of a deal, you can cut your work time to a fraction, as customers get the information they need right away, and you can focus on other things until it’s time to speak to them directly. By that time, you’ll have all the information you need to know about the customer and their needs, making the time you spend with them more meaningful. Automation also helps you qualify and prioritize leads, helping you maximize your productivity every day.

Continual Improvements

We are 100% focused on helping our customers grow. New technologies and tools are being developed every day, and the BluMortgage development team is always on the leading edge of what’s new and exciting. When we identify a new solution that we feel adds value to our clientele, we integrate it into our stack so you can get the most out of it.

Best-in-Class Customer Service

Our customer success team is always available to help you leverage BluMortgage to its fullest potential. Whether you’re an independent broker or managing a multi-office team, it is our mission to help you thrive.

Final Thoughts

In conclusion, if you’re looking for a 360˚ solution to help you manage every aspect of your brokerage business, while being flexible to the way you do business- today and in the future-  there is really no better choice than BluMortgage and the features of our powerful CRM.

Simply put, if you’re looking for a way to optimize your time, close more deals, and help more clients reach their financing goals, there is no better choice on the market today. BluMortgage is committed to making your life easy—and we’re ready to make that happen anytime you are.

Book Your Demo Today.