The Video Mortgage Advisor Customer Experience video shows the difference in the customer journey in a traditional mortgage process vs. connecting with a video mortgage advisor.
Buyer demographics are shifting and digital mortgages are on a steady rise. First time home buyers are now majority Millennials: 66%. This age group has expectations that are shaped by the entirety of their shopping and buying experience. Young homebuyers are comparing their mortgage experience to their Amazon experience, so how do lenders keep parity? Many companies are gaining share on inventive experience while those with legacy systems and slower moving operations are losing.
Check out the Traditional Mortgage Experience vs. The Video Mortgage Advisor Customer Experience video to see:
- Differences between the Video Mortgage Advisor Customer Experience and the traditional home buying experience connecting with a loan officer?
- How to decrease the home search from a 4-month average to 45 days
- How a realtor can connect a homebuyer to a Video Mortgage Advisor from their kitchen table
- Why traditional lenders are losing market share
- How to create competitive advantage with Video Mortgage Advisors
First Time Homebuyers Need More of a Human Touch and Hand-Holding Throughout the Home Buying Process. A Video Mortgage Advisor Customer Experience can increase your NPS by double digits.
The human connection is the differentiator for many consumers. Homebuyers have shown a preference for connecting with their relator either in person or on the phone rather than text or email. This shows a preference for a human voice and immediate feedback. The Video Mortgage Advisor Experience can fulfill this expectation and preference while building an even stronger relationship. Customers get to read body language and have the convenience of connecting via their mobile device. This is especially important for Millennials as they consistently rate paperwork as the most difficult part of the process, which is higher than any other age group.
You can view our Infographic on Emerging Digital Mortgage Trends and homebuyer demographics in 2018 here.
Video Mortgage Advisors are already creating waves as a result of rapid ROI in the UK. Lenders have seen decreases to their bottom line and increase in their NPS score, a measure of customer experience. Nationwide Financial UK saw a 2/3 reduction in cost per sale and a 75% increase in the mortgage business. Additionally, they realized a double-digit increase in NPS score.