While there are many similarities between new mortgage brokers and grizzled veterans in this industry, one thing they all share is their desire to help more people get loans. To do that, you need clients who trust your expertise enough for them to hand over the keys on what could be a very important decision- making process. Technology is changing the mortgage industry. More and more people are using digital tools to help them with their businesses, but some of these same technology can be used by brokers too! There’s no better time than right now for you as an independent lender in this fast paced world we live in.
Let us introduce 4 essential tech tools to take your business to the next level
- An LOS Platform
Loan origination software is a major advantage for mortgage brokers and loan officers. It allows them to originate new loans from anywhere that they have access to secure internet connections, but the wrong LOS can hold back your business growth by slowing you down with time-consuming tasks like data entry or creating excel spreadsheets - not what you want when your team has been hard at work building up momentum.
With so many options out there, it can be difficult to know which LOS is best for your business. Luckily we've put together a list of key points that will help you narrow down the selection process and make an informed decision about what system best suits YOUR needs.
- Easy implementation
- Compliance tools
- Integration with CRM and POS systems
- Customization Tools
2. Professional Website
With the world of digital marketing evolving rapidly, it is important to have a website that will set you apart from your competition. Today’s consumers are bombarded with information every day and if they cannot find what their heart desires on Google or Bing then chances are good those interested in purchasing homes won't either! Luckily there's Squarespace (a drag-and -drop tool) as well as Wix which make the website making process easy while making sure everything looks professional.
As you can see, there's a lot of information to take in when it comes time for developing your site. Here are a few questions to ask yourself:
- Does your site communicate what you do?
- How good of a professional image/voice is portrayed through tone and content?
- Does it inspire trust from potential customers by being transparent with them about pricing options or services provided?
- Is there easy access to contact information such as phone number so people can reach out if they have questions during their research process on the website itself?
3. A CRM Software
In the mortgage industry, successful loan officers and brokers rely on their relationships to stay profitable. Nurturing these connections takes time-consuming energy that can be better spent elsewhere in order grow a business while still making sure it's managed efficiently with CRM software which allow you to track leads; manage sales/engagement from anywhere through features tailored specifically for your market segmentation - all of which will help increase production without hiring more employees!
Here a few key features to a good CRM software:
- Branded communications
- Easy integrations
- Compliance features
- Built in Mortgage customizations
4. POS Software
Today's shoppers expect to do business digitally, and prospective homebuyers are no exception. That’s why point-of sale (POS) software is a must for the modern independent mortgage broker who wants their clients' processes completed efficiently! A strong POS system grants an important speed advantage - when potential buyers take ownership over this first step in doing finances together they can move forward much more quickly than if we had handled all transactions face-to face.
You have to consider a variety of factors when choosing the right point-of sale system for your business. Some important features you should research include:
- How many customers per hour do we expect?
- What does our budget look like, and how much can we spend on technology without going overboard with costs (and risk)?
- Easy integration to CRM and LOS systems
- Easy-to-use
The future is all about tech, and there’s no better place to start than with these four tools. A strong digital presence will give clients more trust than ever before thanks to both automated software, data analysis, relationship management, and personalized offers every time!
