Building a rich starts with your pos
Here is the hard truth. If these buyers are looking online for lenders and on your ‘front door’, your purchase application, and it seems that any other cookie-cutter purchase application is not impressed. They will probably leave your request and look elsewhere.
It doesn’t have to end that way. Why wouldn’t you make this first impression of you (and your company) in a chance? Too often loan officials treat automation as a necessary evil – a cold, robot system that performs human touch. That’s nonsense.
Automation good is actually how you dish Personalization. With your point of sale (POS) platform you must be able to automate milestone updates, memories and requests using your voice, your tone and your atmosphere. “Hey Maria, just have your W2s. Everything looks great so far. You kill it. I will contact us if something is missing!”
That e -mail took zero effort to send, but it sounds like it came directly from you. That is how you build connections. That’s how you build a brand. Suppose you take the time to make this digital front door warm and hospitable. In that case, your POS platform of a document collection system will go to your first impression, and a very positive one, delivering value to visitors. When you correctly configure your pos and have the experience, this will be your most powerful brand weapon, so that customers are sent directly into your queue.
Golden
There is a clear, measurable difference between those who take the time to configure their POS and those who don’t. This is not theory – we see it in the numbers.
An example: the mortgage nerd group at Benchmark MortGage.
Denise Donoghue and her team have configured every corner of their POs to display their brand, their voice and their process. And guess? They lead benchmark in critical performance tricks such as prospect volume and document uploads.
In the meantime, another team scraps the bottom of the rankings – with the same platform but without configuration. The same technical, different approach. It is not the tool; It is the operator. (Has anyone else just heard the voice of Vin Diesel?)
The Denise team has even rewritten the 1003 – notorious robot -like and interrogative form of government – in a slightly more human approach: friendly, conversation. Borrowers do not feel that they are being interrogated by a robot; They feel that they are being led by an expert friend.
Even better, Denise uses adapted logical rules in her POS to rug borrowers based on their needs. If someone is not ready, no problem. The system serves a link to a credit agency approved by HUD. That is not only automation-that is brand building on steroids.
And then Denise de Knock outpunch lands with this question at the end of the application:
“Are you looking for the lowest rate, the lowest monthly payment or the loan strategy that generates most savings in general?”
Translation? “I don’t just push paper. I am your financial strategist.”
This way you use POS to create a brand experience that will remember borrowers and tell their friends.
Adjust or die
If your application process still looks the same, whether someone now applies for a heloc, a refinancing or a Jumbo purchase of $ 1.2 million, you are doing this wrong. Leers expect personalization. They expect relevance. They expect You To understand what they need.
Your POS must enable borrowers to select their loan type in advance, and the rest of the application must adjust accordingly-not irrelevant questions, confusion or drop-off.
In addition, if you specialize in first buyers, real estate investors or VA loans, you must build tailor-made paths with your expertise. Add custom questions. Insert relevant sources. Use logic -based workflows. Show borrowers that you own this niche.
Make content your ally
Millennials in particular are very visual students and digital natives. They often turn to platforms such as YouTube and Tiktok for educational content, including advice from house couplings, mortgage tips and walkthroughs of the buying process.
Producing clear, fascinating and informative videos is the key to connecting with this technically skilled generation. You become invisible for these buyers if you don’t make this and related content such as blogs, quizzes and checklists. End of the story.
But here is the thing: instead of just being an application, your POS system must deliver content and sell you with embedded videos, frequently asked questions, links to your recent blog posts and more. We have seen loan officials increase their lead-to-loan conversion by simply bed in the top of their application page. It sets the tone. It builds trust. It screams: I am here and want to help you.
Millennials appreciate speed, transparency and convenience, so a POS with functions such as digital loan applications and document upload via smartphone meets their expectations. The integration of educational content, such as video explaners, can further involve this video-loving public directly in the POS.
Control your story
Let us not Sugarcoat: AI is coming. Fintech explodes. If you don’t build a brand – a voice, a presence, a Why, A lender will replace you with a website-packed website and faster automation. If you Doing Take the time to build a brand and ensure real value, especially through educational content for first buyers, you become memorable in the heads of those sought after millennial home buyers.
Your POS is the canvas, your welcome mat, your caretaker. The question now is whether you put your name on it and call it a day or whether you start treating your POs like your store and using the configurability to build an exceptional client experience for your borrowers.
Because this is what we know: when loan officers take control of the credit trip, when they make it personal, when they make it from them, they don’t just take more loans. They build rich. Just ask Denise.
Sydney Barber is the head of the product at Floify.
This column does not necessarily reflect the opinion of the editorial department of Housingwire and the owners.
To contact the editor who is responsible for this piece: [email protected].
