There are loan officers that can be dropped in the middle of nowhere and they would figure out how to sell mortgages. They don’t need assistants or technology or whatever. They are ultimate sales professionals. They are usually the loan officers that we all look up to and aspire to be. However, the truth is that most loan officers need and can only arrive at their full potential with considerable assistance. This shouldn’t be viewed as negative. There are levels. Trying to get to the next level might involve some new skills, relationships, and technological resources.
We developed the Sales Accelerator category. This category encompasses technology and service companies that don’t traditionally fit into an existing category. These are important resources. They offer a wide variety of services that can help you reach your business objectives. Increase your sales. Save you tons of time and improve your overall life.
Let’s break down three different ways a technology company may fall into the Sales Accelerator category. It is important to understand that most software companies feel like they fit into more than one category. While that may be true – people tend to search to solve one problem. Rarely do you write a paragraph search inquiry to get solutions to the challenges you are facing. Understanding how people search and identifying with a primary category allows both tech company and buyers to find each other. Here are a couple ways technology companies may fall into the Sales Accelerator category:
Information and data – This may vary – Rate data, scenario data, housing data, inventory, etc. The information that you have at your fingertips allows for a level of professionalism with both referral partners and borrowers. There are several amazing companies that provide these resources at a high level to help you look like a pro. What one may lack in experience, can be supplemented with the right data resource.
Automation – In every loan transaction there are a collection of processes that are redundant. These redundancies span from the front end of the mortgage to the backend – all the way to securitization. Not every mortgage lender has a tech stack that covers every part of the process, therefore forcing loan officers to continue to manually engage in tedious processes. These may overlap with other categories or provide filler where other technology companies fall short.
Borrower Engagement – We aren’t talking about marketing, or advertising or lead gen – we’re talking about truly optimizing borrower engagement. In some cases, this may be before the transaction or through borrower journey insights, but sometimes it is about adequately communicating with current borrowers while in process. Avoiding fallout. Increasing borrower confidence – therefore increasing review scores. Providing new understanding of what borrowers need in the moment to make their mortgage transaction successful.
We want to help mortgage advisors, loan officers, and mortgage lenders solve problems with technology. There will be an evolution of mortgage technology categories that will change the way we do things. Sales Accelerator category is here to help mortgage professionals improve their process, and add valuable resources to their tech stack. How can we enhance the experience for our borrowers? By enhancing our resources – and aligning them with our objectives. Information, automation, and engagement is how to scale, and accelerate!