As the refinance market continues to dry up, finding new ways to retain existing customers in today’s mortgage environment is growing in importance. This is, unfortunately, not that simple of a task. Lenders can wait until a borrower’s house is on the market, but then must compete against other lenders for their business. The other option is casting a wide net across all of your servicing portfolio, in the hopes of finding that borrower that is about to list. Doing this, though, causes an increased marketing spend for minimal results.
But what if there was a way to find those properties before they list on the market, and get head start on the competition without having to max out your marketing budget? Fortunately, such a tool exists, and it’s ushering in a new era of customer retention: our newest product, Mortech Protection.
Instead of waiting for a property to list or casting a wide net to everyone in your servicing portfolio, you can use Mortech Protection to find the properties that are going on the market in the next 90 days and start targeting your marketing specifically to those borrowers.
How it works is simple:
- You upload your list of addresses from within your current customer database you want Mortech to monitor
- Mortech uses a predictive model that utilizes Zillow site data to find potential for sale listings along with Zestimate, as well as flagging current for sale listings, returning the results to you
- You target your outreach marketing to your customers at the opportune time with the relevant messaging
With Mortech Protection you can find customers within your portfolio that you have a risk of losing, and get a head start on marketing to them before their home lists. Want to learn more? Reach out to us today and find out how you can start identifying properties in your servicing portfolio that are about to go on the market.