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Tips for Mortgage Brokers: How to Use Your Tools to Find Business

There’s an untapped market for mortgage leads that you may not be accessing to its full potential.

This market? Your past clients.

Utilizing property tools to identify opportunities in your existing client base is one of the top tips for mortgage brokers. With this method, you can not only find more referrals and new client opportunities, but you can also solicit business from clients you’ve worked with in the past.

Working with previous clients is also a great way to save money; the cost of acquisition is significantly lower.

We’ve listed several of the ways you might consider finding business with past clients, and the benefits.

  1. Informed Solicits

When you use Purview, for example, you can see value and mortgages registered. If a client that was helped in the past has a change in equity position, it enables an informed solicit.

For instance, the recent Mortgage Professionals Canada annual report for 2018 found that 92% of Canadians have more than 25% equity in their homes, but only 10% used any in 2018. Armed with this information, you might take a closer look at your past clients, their available equity, and potential uses they might have for it.

  1. Add Value

You can also use the information in your tools to add value to prospects. As a broker, you likely know how to access information that prospects need in order to make decisions.

For instance, you might look at the Comparable Sales Report in Purview to see how similar homes in the client’s neighbourhood are selling. Or if you have a client with an expanding family, you may be able to identify an opportunity for a bigger home even before they do.

  1. Maximize Time, Mitigate Time Wasted

Knowing more at the application state enables you to avoid deals that have issues. A little bit of due diligence at the front end leads to higher closing rates and stronger lender-broker relationships.

With Purview’s tools, you can quickly verify property information, calculate fraud risk, and more. And if you’ve already worked with these clients, you might have usable information already on file.

  1. Gather More Referrals

Even if your past clients aren’t in the market for your services at this time, they can still bring you business.

Referrals are one of the most valuable ways brokers gain clients. If you are touching base with a past client – for example, to celebrate the anniversary of when they purchased their home – you might consider asking for a testimonial or a referral.

With property data from Purview, you can stay up-to-date on the latest home values, comparable sales, available home equity, and more.

Find out how to get started today. Call 1-855-787-8439 or visit www.purview.ca.

 

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