The challenge of any mort- gage company is finding ways to keep new busi-
ness coming in the door through
a referral base built by the loan
officers. Practically speaking that
means having ongoing contact with
prior mortgage clients and centers
of influence to include realtors
and financial planners. Smartphone application use is
certainly a viable option for creating and maintaining
referral sources. Having a website is required today,
but how effective is it compared to the smartphone
usage for referral business?
Specifically, let’s look at statistics of smartphone
usage. It may come at no surprise to you that 91% of
smartphone users have their phone within reach 24/7
and 75% of those users even take their phones to
the bathroom. Also, 85% of those users would rather
“give up water” than delete their applications and 51%
of mobile searches lead to a phone call. Two thirds of
Americans will check their cell phones an average of
150 times daily. And even more interesting, 70% of people that come to your website will never come back.
Given the rise of the use of mobile applications, it
only makes sense that there are emerging applications
for the mortgage lending market. Of the current first
time homebuyers, 72% will begin the house hunting
process on the mobile search, and 98% of all home
buyers searched online during the home buying process. Certainly, the starting point has shifted in recent
years from meeting with a realtor and lender to using
multiple online sources for searches. So, how does a
loan officer keep their business card top of mind with
their referral sources and former clients?
Let me introduce you to one such application that
provides a solution, MortgageMapp. Ryan Leopold,
who is a producing loan officer since 1998 and has
closed over $700 million of mortgage transactions, is
the designer behind the creation of MortgageMapp.
Certainly, it is an application developed by an experienced loan officer focused in being used by loan
officers in the mortgage industry.
It is an application created to empower loan officers, realtors, and other professionals to use their
smartphones to build long-term relationships with
clients, prospects, and referral partners. Think of it as
the future of business cards, it is stocked with not only
your contact information, but also links to valuable
tools such as calculators, relevant industry content,
and a compelling call to action. The application can
be shared via text message and all activity is logged
in your backend dashboard, allowing insight on who
is using your application, and to whom and when the
referral is being made.
After initial setup, the application displays your
personal picture on a client’s smartphone so it easily
recognized and accessible to the realtor or customer.
By AR Smith