The Retention RockstarTM Award identifies outstanding loan originators for their efforts and ability to find new loans and retain mortgage business from their relationships or "Sphere of Influence."
We score a Retention RockstarTM on more than the size of the contact database that they have built over the years but also the engagement rate of contacts they have received a borrower retention alert for.
For example, one originator may have purchased a list of local prospects' phone and email addresses from a data provider. Still, those contacts aren't likely to engage with a mortgage offer from that LO because they don't recognize their name. It's a cold call, and cold calls suck. On the other hand, if an LO has built relationships organically (social media, referral partners, open houses, friends of friends), and the consumer recognizes the LOs name or brand, they are 5-6 times more likely to engage with a marketing offer from that originator when they are soon to be in the market for a mortgage.
The MonitorBase users that rank highest in the Retention RockstarTM award have a more extensive contact database than their peers. Their offers also get consistently higher engagement rates because of the pre-established relationship. It shows that they have provided outstanding service to those that are past clients, or they provided value in the relationship that made an impression on that person.
New Retention RockstarTM award winners are highlighted on our social media pages throughout the month. To see recent Retention RockstarTM winners, follow us on social media: