|Customer Satisfaction vs. Customer Elation
Raving Fans Raise the Bar for Acceptable Service
|Striving for customer satisfaction is like going for the bronze. You won’t be remembered as the best unless you really exceed the customer’s expectations. Take the phrase “customer satisfaction” out of your vocabulary, and instead strive for “customer elation.” Your customers must be so impressed that they are actually excited to spread the word about you and the exemplary service you provide.
In their book, Raving Fans: A Revolutionary Approach to Customer Service*, Ken Blanchard and Sheldon Bowles write:“Your customers are only satisfied because their expectations are so low and because no one else is doing better. Just having satisfied customers isn’t good enough anymore. If you really want a booming business, you have to create Raving Fans.” Once you begin to create a following of your own raving fans, keep track of them in your database with a special code, and track the number of referrals they provide to you.
I have done this in my own business, and when I know I have exceeded my clients’ expectations I send out a personal thank you letter upon the closing of their loan. I remind them that my business is referral based, and if they have a friend or relative who they feel would benefit from the type of service I provide, I would like to meet with them or give them a call.
I continue to stay in touch with the clients in my database on a regular basis. My personal assistant or another member of my team will place a call to ensure the client is well taken care of, and if they have any further questions, they know we are always available to serve their needs.
Each client receives a quarterly newsletter that includes information about the current market conditions. My team and I have the ability to monitor interest rates, and by using a trigger in our database, we are able to notify the client if and when an opportunity arises to get them a better rate by refinancing their loan.
By providing this type of service, I have acquired a reputation as being much more than a loan officer who simply quotes rates; I have established myself as a Trusted Advisor in our community. I look forward to meeting with you to discuss the possibility of doing business and providing your clients with stellar service, which will also be a great reflection on you.
Look for more Business Boosters coming your way!
*© 1993 William Morrow & Company, Inc., 1st edition. ISBN: 0688123163.
Refinance Your Mortgage for Rate and Payment
By Rich Bersani, Vice President of FrontGate Mortgage, NMLS #133243
Sewell, NJ – One of the biggest reasons homeowners refinance their mortgage is to obtain a lower interest rate and lower monthly payments. By refinancing, the borrower pays off their existing mortgage and replaces it with a new one.
Refinancing typically occurs when mortgage interest rates drop significantly, but borrowers with recently improved credit scores (from paying off credit card debt, making mortgage payments on time, etc.) are often candidates for better interest rates as well.
The question most asked is, “But why should I go back into a 30-year loan?”
One option is to take the route of the “same payment” refinance, and actually pay off the loan faster and save money on interest fees in the long-run. If refinancing results in a lower monthly payment, you can still continue making the same payment you made in the original loan, and the extra money will be applied to the principal balance.
For example: Let’s say you have 25 years remaining in your current loan, and you refinance back to a 30-year loan with a slightly lower interest rate, resulting in a payment reduction of $200 per month. (Note: This is just an example. The actual amount could vary.) You could then take that extra $200 per month and apply it toward the principal on the new loan. At this rate, the loan will be paid off in 22 years and 4 months, which is 2 years and 8 months less than the original loan.
On the other hand, if are looking to take equity out of your home to invest, you may invest the extra money in a side-fund that could earn a better rate of return and grow to the amount of the mortgage (and beyond) in even less time. This method provides excellent liquidity, but having more direct access to this money may be too tempting for some homeowners.
Regardless of the reason for the refinance, call me today to find out if refinancing could benefit you.
Rich Bersani, Vice President of FrontGate Mortgage Company (NMLS 133243) a division of American Neighborhood Mortgage Acceptance Company licensed by the New Jersey Department of Bank and Insurance (#NO00004875).