More than 250 deals closed at Synergy One Lending in their first quarter on Homebot

As the founder of the Modern Mortgage Experience™, Synergy One Lending prides itself on providing customers with intrinsic value through a seamless digital mortgage process. Passionate about creating a tech-savvy, frictionless mortgage experience designed for the next generation of homebuyers, Synergy One has solidified its reputation as one of the industry’s most modern and efficient retail lenders.

Challenges

With a young clientbase and stiff competition, Synergy One saw an immediate need to provide value after the transaction in order to secure their borrowers’ inevitable future business. The Modern Mortgage Experience™ engages borrowers throughout the transaction — Synergy One saw the opportunity to continue delivering a superior client experience post-transaction. 

“It was about trying to provide enough data so that our clients would engage with us after closing,” remarked Synergy One President, Aaron Nemec. “We did a great job from inquiry through closing, but it's after closing — how do we stay connected? How do we stay engaged with our customers?”

Synergy One’s relationship-oriented approach and sharp focus on providing lifetime value to their borrowers led them to explore client-for-life solutions that would keep their conversations going long after the initial transaction.

“When I think about the challenges that we were facing … it's client engagement and it's of course always trying to provide enough value that we can drive purchase business.” - Aaron Nemec, President

Solutions

Innovation and excellence are core values at Synergy One, so it’s no surprise that they have a thorough due diligence process when evaluating technology partners. Homebot was no exception. 

Synergy One considered the time and resources each solution would require. They discussed implementation processes and conducted compliance reviews. They looked for an addition to their tech-stack that would guarantee adoption, provide value to both their Loan Officers and their clients. And, of course, they evaluated vendors based on potential return on investment. 

“Homebot for us, provided a way for us to very inexpensively, but yet in a very personalized way, connect with our borrowers and clients in a way that they found a lot of value in.”

After a rigorous vetting process across the organization, Synergy One selected Homebot as their preferred client-for-life solution. Homebot was implemented for 117 Loan Officers in December of 2020 as a way to drive engagement and purchase business in an increasingly heavy seller’s market. 

“I would say it's been one of the easiest and smoothest tech stack implementations that we've experienced so far. The Homebot staff was phenomenal.”

Results

In their first quarter using Homebot, Synergy One Lending engaged more than 10,000 clients, drove over 300 conversations, and closed 268 transactions. 

“The ROI for us on the Homebot investment has been off the charts. Honestly, unlike any ROI that I've seen in another tech stack that we currently offer.”

Homebot’s highly personalized home finance information facilitates meaningful engagement between Synergy One Loan Officers and their clients. By educating and empowering clients, Synergy One builds stronger relationships and increases the likelihood of clients returning to them to buy, sell, refi, or leverage equity. 

“The visibility and connection that Homebot has provided has resulted in a lift in our purchase business, which has just been undeniable.”

With purchase business being a top priority, Synergy One President, Aaron Nemec, was especially impressed by their spike in purchase transactions. “Homebot has helped drive more purchase business because we can see the dashboard engagement, and we can see when people pick a new homebuyer profile. That gives us an opportunity to reach out and offer our assistance, which is ultimately leading to very meaningful conversations that a lot of times convert to pre-qualifications, which lead to applications, which lead to loan closings.”

In the first three months after launching Homebot, Synergy One Loan Officers gained insight into over 18,000 activities performed by their clients in Homebot, leading to over 300 direct message inquiries from clients. These direct inquiries coupled with targeted outreach based on insight into client behavior within Homebot resulted in 268 closed loans. 

“Homebot's a must have for Synergy One because they provide us a mechanism by which we can provide meaningful, timely, highly valuable, and in-demand information about their home equity, what they can do with that equity and financial opportunities that exist for them, that we couldn't do without them.”

In addition to the increase in revenue, Homebot has helped Synergy One redefine the Modern Mortgage Experience and differentiate itself from its competitors — for clients and Loan Officers alike. 

“[Homebot] has certainly made it a lot easier to recruit talented Loan Officers into our company.”

As an organization that prioritizes the satisfaction and well-being of its employees, Synergy One leverages company culture and innovative technology like Homebot to attract and retain top talent.

“We are absolutely thrilled with the partnership between Synergy One Lending and Homebot. It's one of the best things that we've ever done.”