For many people, home ownership is the ultimate dream. But the home ownership dream isn’t imagined in the same way for every person. Especially today, borrowers bring so many different contexts to their brokers. The traditional template has been replaced by diversity in how they earn income and how they’ve charted their financial courses so far.
But borrowers don’t necessarily focus on diversity or recognize it as an insurmountable obstacle. They remain optimistic and hopeful. They believe in that dream. They want help. They want an advocate. They want someone who can look at their specific situations and say, “I’m going to do whatever it takes.”
And brokers are equally as determined. They know that they have to extend their reach and try to help as many borrowers as possible achieve their home ownership dreams. Because every dream they facilitate becomes a chance to build loyalty, generate a potential referral and create an opportunity to drive more dreams for more people.
The keys to loyalty
What is it that brokers need from their lender partners to help them build loyalty that translates into repeat business and referrals? We asked them. And here is what they told us:
- Willingness to make a deal work
- Focus on positive answers and solutions
- Avoid the quick no and try to work through specific situations
- Available to answer questions and talk through deals
- Fast answers – regardless of whether it is a yes or a no
- Ability to save deals if something goes wrong with another lender
- Follow the path of least resistance
- Consistency, stability and certainty
- Openness to conversation to understand the nature of my business
- Willingness to understand and appreciate each individual client
Knowledge and experience: how First National supports brokers in building loyalty
Our commitment to brokers is clear and simple. We want to do everything possible to help them be their best. How we show up, communicate, provide service, execute and innovate all matter. By striving to be our best in every single interaction with brokers, they can be their best for clients.
Specific to loyalty, we apply our knowledge and experience to take a common sense approach to underwriting, innovate with products that can extend brokers’ reach and recognize that borrowers are people who require compassion and support when life or deals take unexpected turns.
- Common sense underwriting: we maintain a positive mindset when working with brokers, always trying to find ways to make deals work if they make sense within the parameters of acceptable risk. Brokers know that they can reach out, ask questions and talk through the specifics of a deal. Our response times are consistently and reliably quick, so brokers can get back to their clients who are anxiously awaiting answers. If we make a promise, we deliver on it, so brokers can always set reasonable expectations with clients and deliver on them.
- Product innovation: borrower diversity is a reality in today’s market. To help brokers service the largest numbers and types of borrowers possible, we expanded our offerings. The re-introduction of Excalibur offers a mortgage option to people that fall outside of traditional underwriting considerations. Our underwriters work with brokers and clients to understand their specific stories and financial contexts, so they can successfully secure mortgages and achieve their dreams of home ownership. We also aim to provide value beyond rate across our product offerings with features including after sales service, Home Warranty, pre-payment privileges and payment adjustments.
- People focus: One of our broker partners commented that First National is a people company that produces mortgages. And it was the highest compliment that we could receive. Often times, brokers come to us with “emergency” situations -- rushed deals or deals on the verge of being lost. We understand that dreams are on the line so we mobilize to get those deals done. There are also situations where unfortunately, life does not go according to plan, and unexpected illness or loss requires that financial accommodations must be made. We always aim to be a compassionate support in those situations, helping to ease the financial stress in any way that we can.
For us, our greatest accomplishment is helping brokers be their best and gain clients for life. By applying our knowledge and experience, we provide brokers with quick, quality responses for their clients, mortgage options to address the diversity of today’s borrowers and a calm, problem-solving mindset focused on positive outcomes for as many borrowers as possible.