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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 38 November 2023 F E A T U R E S T O R Y People do business with people, which means originators need to engage with consumers in a way that feels genuine and meaningful, and all communications should be in the voice of the loan officer. But it is possible for originators to lever- age CRM technology to create tailored messages in their own voice that speaks to individual customers based on their specific needs and circumstances. Even more important is to escalate and scale the originator's voice so that the message gets out to more prospects. This enables them to convert truly motivated buyers, while still keeping lines of commu- nication open with consumers who are not ready to purchase, but eventually will be. Modern CRM technology can do this as well, serving as a force multiplier for your personal brand without sacrificing your authentic voice, a voice that resonat- ed with them in the first place. Q: How do ongoing communications help create a transaction? Based on my experience, nearly 80% of all borrowers would use their loan officer again if they heard from them on a regular basis, but they usually don't. This is why ongoing communication is so important. First, they keep you top of mind, so when someone needs financing, you become the obvious choice. Second, they have the potential to deliver continuous value. By updating clients and prospects on the latest market trends, new products, or simply providing financial tips, you can build credibility and trust with your customers. Third, continued communication enables you to detect subtle signals that someone might be ready to get financing. Maybe they click on a link about a new loan product, or ask a question about cur- rent interest rates. These small interactions can be indicators that it's time to have a more in-depth conversation. Ongoing communication lays the groundwork for future business. Being there at the right time with the right message will always tip the scales in your favor. Q: How does CRM help build a relationship between a Loan Officer and a Realtor? When I was a Loan Officer, I would always make follow up calls and texts to my Realtor partners. While I spent as much time as I could on outreach, there was no way that I could keep up with all my partners, let alone the hundreds of prospects and contacts I had. Ultimately, I was leaving business on the table. However, modern CRM technologies are solving this problem for Loan Officers. The broadcast feature on a well-config- ured CRM enables originators to schedule certain messages to all contacts at strategic times. More importantly, it uses the Loan Officer's own voice—not a template used by thousands of other salespeople—to communicate at scale. From the Realtor's perspective, receiv- ing messages from a local line or a familiar name gives the message more credibility than some random number or email address. They are much more likely to engage with the LO in a meaningful way. Q: Why did New American Funding's Chairman and CEO give Bonzo such a glowing endorsement? I do not want to speak for Rick Arvielo, but when we first showed him the plat- form, he immediately got it. Traditional CRMs are often just glorified databases that track interactions. Rick recognized that Bonzo places an emphasis squarely on conversations, which are where real business relationships begin and flourish. Rick was also excited to give New American Loan Officers a tool he knew they would actually utilize. Bonzo puts Loan Officers in a position to succeed by making the technology work for them, not the other way around. By simplifying the technical aspects of staying in touch and nurturing leads, Bonzo lets Loan Officers focus on what they do best—building relationships and sharing their expertise. Every Loan Originator should be so lucky, but we are working on that. "Based on my experience, nearly 80% of all borrowers would use their loan officer again if they heard from them on a regular basis, but they usually don't."