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Jan 04, 2021


New Year, New You? How to Prep for 2021.

The holidays are almost upon us, and with that, a new year. Before the post-celebratory food coma sets in, now is the perfect time to start setting yourself up for success in 2021 with Caliber Home Loans, Inc.

The forecast

As we’re wrapping up 2020, this year is projected to be ranked the second-largest mortgage origination year in U.S. history. That’s a truly remarkable record to be a part of!

Experts predict that purchase volume will continue to rise in 2021, but overall loan volume will contract due to a projected reduction in refinance volume – shrinking to only about half of what it was this year.

How to prepare

  1. Shift to a broader book of business if you are solely focused on refinance loans.
    In the next few months, we recommend that you consider expanding your repertoire since new purchase loans require a more proactive sales approach. Reach out to mentors and friends to ask for training, coaching, and exposure to other types of loans if you can. Attend online training sessions and start gathering the tools you’ll need to stay ahead of the curve.
  2. Build your personal brand by taking a customer-centric approach.
    The best way to market yourself is to start with a great product – and in this case, that means a great customer experience. Whenever you exceed a client’s expectations, they will notice and be more inclined to remember you. This applies to all the steps in the mortgage process, from closing costs and dates to finding the best rates and providing excellent end-to-end support).

    Twenty-two percent of borrowers choose their lenders through customer referrals. The happy customers you create are the ones that will give you those referrals. If you get the details right, you can turn one customer into many.

    Reviews and testimonials are also important in bringing you new business. Satisfied customers will be more likely to take the time and effort to write you a stellar review. Find a systematic or even automated way to gather customer feedback and publish positive reviews on your site or social media (or both). While online reviews may not be the sole driver of a new sale, they can build your reputation and help you stand out from the crowd.
  3. Strengthen your relationships.
    Nearly 50% of all loans come from an existing relationship with either the originator or lender. Relationships matter. Over the long term, these relationships will sustain your business. Here are a few practical tips:

    Make it personal.
    Pick up the phone, rather than using email alone, to provide important updates and pertinent loan information. Customers that get a few well-placed personal calls are significantly more likely to recommend you to friends and family. If you put in a bit of extra time and effort, so will they.

    How about taking it one step further? Show up at a final walk-through (where possible). This will not only be a welcome surprise for the customer, but for the realtor as well. This is great because 17% of new sales come from realtor referrals.

    Stay connected.
    Reach out to existing customers, prospects, and referral partners with useful information on a consistent basis even after you’ve serviced them. This will cast you as an expert, a good source of knowledge, and a thoughtful, trusted adviser. Use Caliber Reconnect to turn yesterday’s customers into new business by getting timely leads that will let you know when a past client may be back in the market.
  4. Keep learning.
    Implementing new tools such as automated texts, apps, embedded videos, and interactive calculators can help differentiate you from the competition when it comes to generating new business. Take some time to learn about what’s available, then determine what makes sense for you to implement.

Here at Caliber Home Loans, Inc., we have cutting-edge digital tools, marketing resources, and training available to help you implement best practices, market your business, and prepare for the future. Helping others realize their dreams of success is our passion.

Partner with us today.


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