In most industries, the probability of selling to an existing customer with whom you’ve already built trust is 60-70%, whereas the probability of selling to a new prospect is just 5-20%. Yet, on average, mortgage lenders hold on to fewer than 20% of past customers. That means 4 out of 5 mortgage customers will get their next loan from a different lender — and the numbers are only getting worse.
At $1,200 per loan with a new customer, you have to recapture their next loan. What can you do to make sure you aren’t paying for “new customer” leads that are already in your database? How can you make sure your borrowers will come back to you?
Join Ernie Graham, CEO of Homebot and Alex Kutsishin, CEO of Sales Boomerang as they share the retention strategies that ensure your borrowers think of you for their next loan. Remember, you don’t have to help get your borrowers into their forever home to be their always lender.