Australian home buyers look for value when searching for a home loan, and they seek out an easy-to-use service that reduces the time and effort that they need to put into securing a mortgage. So for a mortgage broker who is looking to gain an edge in the industry and generate more leads, it is recommended that they look at ways toadd value to a customers experience when acustomer visits their website.
The Better Business Summit
According to Googles Performance Solutions Head, who recently spoke at the Better Business Summit (BBS), an award-winning business conference that is aimed at helping businesses grow and develop, brokers who are seeking an industry edge need to understand how Australians research mortgages and what determines their selection of a broker. By knowing more about their customer, brokers are able to provide a better service.
Based on data recently disclosed at the BBS, more than 60 percent of Google searches were typically for a mortgage calculator. While this doesnt sound encouraging at first, the Google spokesperson suggested that by having a mortgage or borrowing power calculator on a brokerage website you are able to attract potential customers.
Most mortgage calculator users, according to the Google spokesperson, were wanting to find out how much their home loan payments would be. However, others were exploring rate changes and any additional costs, and how much they could afford to borrow. According to the Google representative speaking at the summit, 50 percent of users were in search of a mortgage calculator, 20 percent were in search of borrowing power estimations and 10 percent in search of rate change costs. eChoice offers allcustomers a FREE home loan report including, theirborrowing power, the lowest interest rate available and how many lenders theyqualify for, click hereto receive yours.
How Brokers Can Add Value for Customers
Many brokers tend to undervalue the meaning of such resources to a potential customer. If a calculator user had a good experience said the Google representative, then they were more likely to use other services that the broker offered. According to google findings, 3-out-of-4 people said a good mortgage calculator experience influenced who they chose for a home loan.
Research into why an individual decided to use a mortgage broker suggests there are five main factors that influence a home buyers decision to use a broker.
Factors being as follows:
1.The broker needed to be able to provide value for money by providing the lowest interest rate, or offering the lowest weekly, fortnightly or monthly repayment amount.
2.The ease of doing business, with the broker being easy to talk to and being able to explain, sometimes, confusing terms.
3.The transparency of lending terms and conditions.
4.The loan structure, which included payment terms, loan flexibility, and the overall loan package.
5.Lastly, the reputation of the lender and the brand of the product influenced a home buyers decision to use a broker.
The Google representative also mentioned the importance ofhome loan technology in allowing for home loans to be approved in sooner.eChoice brokers have access to an industry leading CRM platform known as FleaTS.A finalist at the Australian Broking Awards in 2014, FLeaTS (Fulfillment Lead Tracking System), is an end-to-end technology platform designed and built in house by the eChoicedevelopment team. With ongoing updates and investments, it ensures that eChoicebrokers are supported and empowered to service their clients faster, more easily and with greater care.
The Google representative said that the power of customer data was significant. By a broker getting to know their customers better, understanding what these customers want and how they wish to use a brokers service, brokers can then use this information to drive their business forward. By creating a positive experience for their customers, brokers can gain thecompetitive edge they need. This can include using social media to connect and to enhance the customer experience and providing customers with a warm, welcoming and friendly service, one that builds a strong rapport with the customer over the lifetime of their loan.
Do you want to know more about your home loan options? If you said YES, then contact eChoice, we can help YOU find an affordable home loan.
Written by eChoice
Since 1998, eChoice has helped more than 50,000 Australians secure a home loan through its network of over 25 lenders and hundreds of loans. Best of all our service is cost and obligation free!