I have read with interest the article regarding the research data about customer retention. It indicated that only 40% of clients who go back to the same lender will use their original broker to secure the deal.
I really hope that the statistics for clients remortgaging with another lender or purchasing another property are not the same. I cannot believe that brokers, in these present conditions, are not staying in close contact with their clients. A visit to a mortgage broker for an initial conversation should be a long term partnership, which involves constant communication.
The majority of brokers that I know share this belief and accept that this adds value to their proposition, not only in terms of recommendations from clients, but also in terms of repeat, profitable business. Any broker that does not have a strategy in force following a new customer introduction, really is losing out on one of the most valuable forms of marketing and advertising – what’s more its free!