The MOST critical point-of-sale in our business happens after the closing.
And if you read that and were like…
It’s true. Hear me out.
It’s where we can solidify a customer’s loyalty and convert them to a client.
Remember:
Lead: expresses interest
Prospect: qualified and engaged
Customer: transacts
Client: transacts twice and/or refers
Nothing in customer service is worse than not following up with your recently transacted customer.
And it’s also a key way to make sure any potentially unhappy customers don’t post negative online reviews - it gives you the chance to rectify any shortcomings you might’ve had.
In fact…
Some of my best, most loyal, and most lucrative repeat clients have come from less than stellar experiences the first time around. Proactively calling them to apologize sincerely does wonders.
More importantly, this prospecting activity is a great opportunity to add value, gain feedback, and to ask for referrals!
And you’ll "button up" the transaction by also calling on the Buyer's and Seller's Agent.
All that said, I want to add another useful resource to your LO toolbelt. Here’s my post-closing follow-up script:
Initial Starter Questions:
"Hi [borrower]! This is Amir, am I catching you at the right time? Do you have just a few minutes please?...
How are you?
How’s the move going?
Have you made any changes to your new place at all? (optional)
Are you planning on having a housewarming party? (optional)
...well, now that you are officially in the home, I am going to run down a few items to be aware of…”
Quick Informationals:
“I know [your LOA] provided you some information in one of the final emails around your 1st payment, but do you have any questions around this?
Also, keep in mind that we escrowed your taxes and insurance [most people do] which means that your property taxes and home insurance is included in your monthly payment. You will still receive a bill from the County and from your Homeowners Insurance company, so don’t double pay.
Lastly, we may end up servicing your mortgage, which means collecting payments, but it is common for the servicing rights to be transferred to another company. Rest assured that nothing will change on your actual terms though. If this happens and you have questions, please do not hesitate to reach out to me."
“...also, please keep in mind that many of the Counties across the country provide a property tax exemption for anyone that occupies their home as a primary residence. I would simply research this online as it can save you a little bit of money every year on your property taxes.”
“Next, now that you are a homeowner, you will, unfortunately, start to receive a lot of junk mail from other lenders about refinancing and other types of solicitation, so if you have any questions, please let us know."
*(This avoids EPOs AND protects you from the competition!)
"Also, something that you will start receiving that is not junk is a monthly email called the Homebot Digest. It’s a really cool platform that provides insightful information like your property value in real-time, an amortization schedule to show how much interest you can save by making extra payments, and even what you can potentially rent your home for! You will receive an email from Homebot, and when you do, just create a username and a password to gain monthly emails."
“Also, something that I incorporated into my daily schedule is an Annual Mortgage Review Call. It’s one of my favorite ways for us to keep in touch and to ensure you are always taking full advantage of the many benefits of your mortgage. We’ll reach out to you every year on your home loan anniversary to schedule that call, so trust that I am always on it for you."
“I know this is a lot, but any questions on any of this stuff?”
Tactic #1:
“Well as we wrap up, just want to say that I’m honored you picked me as your lender. Thank you so much, how do you feel we did for you overall?”
Make sure to listen, and then ask…
"Well, can I ask you for two things?"
Tactic #2:
“Well as we wrap up, just want to say that I’m honored you picked me as your lender. Thank you so much, how do you feel we did for you overall?”
It’s key to listen and then ask…
Tactic #3: Specific Ask with a Time Frame
“Well as we wrap up, just want to say that I’m honored you picked me as your lender. Thank you so much, how do you feel we did for you overall?”
Take a beat, listen, and then…
“Can I ask you for a favor...?
...I am now one client closer to being unemployed now that you’ve bought your home! I know that the topic of real estate comes up a lot in casual conversations and when it does within your circle of friends or co-works, would you feel comfortable saying you got a great mortgage guy (or gal)?"
“Well [borrower], I know that was a lot, and thank you again for allowing me to be your mortgage person. I am here for you if you need anything at all and I’ll talk to you in about a year for our first Annual Mortgage Review Call. Please don’t hesitate to reach out in advance though.”
Both Realtors (Agents): follow up with the Buyer and Listing Agent!
THIS IS THE MONEY CALL.
If you don't want to work with that Agent for whatever reason, still call and give them gratitude and honor, because it helps your brand. Plus, you’ll never know when you’ll get a random referral from him or her:
“...Hi [Listing Agent?], this is Amir with [xyz mortgage company], I was the lender for the Buyer’s on [address], it was very nice to work with you. Do you have just 1-2 minutes max? Cool, well the reason I am calling is to first thank you. Thank you for accepting our preapproval letter upfront and so great to work with overall. How did we do from a lending standpoint...?"
Gifting: incorporate a standard and systemized closing gift for every closing to the borrower(s). The best gifts are standardized, inexpensive, but very effective (stay away from perishable items like food baskets and flowers).
Here are your action steps for today:
Take a moment right now to time-block a recurring one-hour appointment on Thursday mornings in your calendar for this call and title it: Power Hour: 7 Day Post Closing Call.
I recommend completing these calls within 7 days of the actual closing, but no later than 30 days later maximum.
Don’t tell your clients you have this call as a system, treat it like a surprise (a “planned spontaneous” prospecting tactic)
These are NOT scheduled, but “spontaneously” planned calls.
Some won’t pick up, so make sure to leave a detailed voicemail and use your Post Closing Tracker (PCT) to stay organized.
I follow up with any missed calls for 2-4 weeks straight.
But for those who DO pick up, use this script in your own style.
Just don’t deviate from the foundational principles laid out here for you.
Not only will the borrower feel appreciated, but you will rocket launch your productivity to the next level.
Whenever you’re ready, here’s how I can help you!
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