While lately refinances have been remaining steady, we've also been seeing an influx of first time buyers coming onto the market. First-time buyers are some of your most important clients because not only are you their first point of contact, you are the first person they trust with their mortgage. Building this kind of trust and rapport takes time and patience, and you don’t want to lose all of that after they close.
When refinance business slows down (and it is expected to slow down eventually), you’ll want to have a backup plan to keep your business booming. Here are some tips on how to keep up a relationship with a first time buyer (or really any buyer) even after the loan is closed:
- Be sure to send a thank you card to check in after that buyer’s first month or two in their new home. Make sure they know that you care about their well being and are ready to be there for them when it’s time to sell or refinance.
- Ask them to tell their friends and family about you. Referrals are one of the best ways to make extra money, and who better to help you than your new friends? As they head out the door, hand them a few extra business cards and ask if they have any friends or family in the market. They will be more inclined to send their loved ones to someone they know and trust.
- Add them to your MonitorBase database. Putting new clients and even prospects who don’t end up closing with you into your database assures that you’ll know the next time they are in the market, giving you the perfect opportunity to reach back out and to generate even more business per client.
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