We are constantly exposed to an onslaught of information about mortgage and housing in today's digital, on-demand world. The sheer volume of stories and spin pumped out on a daily basis can create a new layer of objections beyond the typical consumer concerns and hesitations about buying and financing real estate.
Communicating with consumers consistently in a concerted way is more important than ever, and it's impossible to do so effectively without a plan and execution system. A CRM (Customer Relationship Management) for mortgage professionals isn't just software to house and manage leads and clients - it's also an incredibly powerful tool that can shape market perception.
Using your mortgage CRM to help consumers make sense of confusing information
Mortgage and real estate insiders are used to the variety and quantity of housing market data that's released on a regular basis. Loan officers and agents can interpret the latest news and discern whether or not it's applicable to their specific market, clients and prospects. However, it's easy and understandable that the information can seem conflicting and confusing to the general public. Consider these two releases from well-known real estate data providers that made news:
- "U.S. home values increased last year, regaining all value lost between 2006 and 2012 and surpassing the 2007 peak." - Zillow, Year-End Housing Analysis 2016
- "Nationally, just 34.2% of all homes have recovered to their pre-recession peak value. The geographic recovery has been uneven." - Trulia Chief Economist Ralph McLaughlin, May 2017
These findings by Zillow and Trulia seem contradictory, leaving consumers to wonder which may be true. MLOs and Realtors know that guiding clients to homeownership often includes navigating minefields of misinformation and incorrect assumptions. Mortgage CRM software can simultaneously help educate and deflect objections for those who embrace the technology and deploy it with current content that's relevant to the audience they're targeting - whether that's first-time home buyers, home owners in a specific area, past clients or another group.
Competition for eyes, ears, clicks and downloads will never stop. However, your mortgage CRM can act as your own media and resource center. It's time to think beyond traditional marketing and drip campaigns that lack relatability, timeliness and information that provides actual value to prospects and clients. In most cases, the most valuable information is an authentic explanation of what opportunities exist for different demographic and geographic market segments at a given time and what can be gained or lost if they're left unexplored.
Consistent release of useful market insight as it applies to your area and the people you seek to do business with can shape local market perception. Consumers will continue to be barraged with information, but your expert analysis is far more beneficial than media spin and it can make the difference between a consumer missing an opportunity or reaching a goal. MLOs and Realtors should make regular communication of market interpretation and opportunities part of their business plans. This can be done and maintained easily with the help of a great mortgage CRM.