5 Reasons To Call A Past Client

March 1, 2016

Repeat and referral business is key to the continued success of any mortgage professional. After you’ve worked together on a transaction your client understands that you are an expert in your field and provide excellent service, so it makes sense that they would trust you to handle their home financing in the future.

Of course, to increase the likelihood that they contact you when it comes time to buy a new home or refinance an existing property, it’s crucial to stay in front of them and maintain the relationship you have established.

Drip campaigns, postcard mailings, email newsletters, these are all great for reminding your past customers you exist, but it’s tough to beat a phone call for making a real connection. Here are a few reasons to pick up the phone and reach out.

1. Rates Drop
This sounds like an easy one but it’s all too easy to stay busy with new inquiries during a low rate environment. Provide value to your past clients by letting them know if a refinance might make sense based on the terms of their last transaction. Not everyone stays on top of financial news and they are likely to be very appreciative if you help them not miss out on the opportunity.

2. Eliminating PMI
Periodically look at your clients who have been paying PMI for a few years. Who might be able to eliminate PMI by refinancing due to rising property values?

3. Major Milestones
When you work with a new client make note of things like their children’s ages, their age, and even their plans for the future should they come up during the course of your discussions. Get in touch when kids might be heading off to college, your customer might be thinking about retirement, or when they were hoping to purchase another investment property or a vacation home. Find out if you can help with refinancing or buying a new home during these times of transition.

4. Offering a New Product
Expanding your loan programs with renovation, manufactured housing, or the One-Time Close, Construction-to-Permanent loan options? Let some of your past customers know to help spread the word. They may not know this financing option exists and it could be just the solution for them or even one of their friends, family members, or co-workers.

5. Wish Them Well
Sometimes a simple birthday greeting or call on the anniversary of moving into their new home is the best touch point. It can go a long way towards cementing the relationship and earning you a customer for life.

Photography by [Brian Jackson] © 123RF.com

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