What happens in times of uncertainty and less-than-ideal market conditions? Whether it’s due to government policies or a global pandemic, how do you, the loan officer, and your clients react when the market is down?
In difficult times, it is human nature to bury our heads in the sand and self-isolate. “If I can’t see the problem, maybe it will go away…” Well, if we’ve learned anything from ‘social distancing’ and ‘stay-at-home’ orders, it’s that humans are not built for isolation. Humans are built for connection.
So how can you create lasting connections in times of uncertainty?
Uncertainty causes fear and chaos. What’s going to happen next? How will this affect me? What can I do to minimize risk for myself and my family? Particularly when it comes to personal wealth and financial stability, we seek immediate answers to these questions. But how are your clients going to find any peace of mind when they are constantly bombarded by alarming headlines and misinformation?
The best thing they can do is talk to an expert — and lenders are the home finance experts. With the vast majority of your clients’ wealth coming from home equity, they need you to help them protect it.
Establish yourself as the go-to source for information. How do you do this? Through building trust. Trust doesn’t come overnight. Be there for your clients through the good and the bad. Listen to their fears and concerns to create a unique approach tailored to their situation. Sometimes it will just be advice. Remember, your first duty is to serve and advise. Transactions will follow.
Don’t fall victim to the tendency to wait for the hard times to blow over. Humans crave interaction, so use this time to create meaningful engagement with your clients and partners.
Meet your clients face-to-face. Pick up the phone and call. Send video messages. Hearing your voice or seeing your face will humanize you and show that you care. Sending personalized, helpful information will solidify your relationships.
During a crisis, negativity is everywhere. Be the light of positivity and optimism for your clients and partners. Your clients will be seeking a friendly voice and positive conversation, so it’s a good time to shed light on the situation and offer solutions.
Use your time with clients to empower them with knowledge and opportunities. The empowered client is the engaged client.
Most importantly, don’t sit and be idle. In times of uncertainty, genuine human connection is needed more than ever. Be proactive, listen, and build trust to increase engagement and create clients for life.
Hear more of Ernie's thoughts in Housingwire's April 2020 webinar.