Today's Down Payment: Tomorrow's Target

Today's Down Payment: Tomorrow's Target

Even though the misconception that it takes a 20% down payment to purchase a home is prevalent, there are several market facts that offer great prospecting and production opportunities for mortgage companies, loan officers and their referral partners:

All these stats make for a target-rich prospecting environment for repeat and referral business: An increasing number of homeowners with PMI means more people will need the insight and expertise of mortgage and real estate professionals to show them when - and how - to eliminate that portion of their monthly housing payment. This confluence of conditions makes sharp, consistent post-close marketing critical

Doing a great job for a borrower is the most basic aspect of developing and growing a solid practice; however, memories fade as time passes, so repeat and referral business takes more effort. Simply reminding past clients about a great experience may not be enough to motivate them to mention you to a friend or coworker looking for a mortgage; however, the fact that you were instrumental in saving someone tangible dollars catapults you - and your service - to an entirely different level. 

Creating customers for life requires remaining visible in your past clients' lives. What's your post-close plan?

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