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How Often Do Mortgage Lenders Follow Up via Calls & Emails?
Are big banks still interested enough in potential mortgage loan customers to follow up?
Fast follow-up is a good habit for any sales rep. But it usually takes a jolt to lead one into it. The 2008 financial crisis shook up the home mortgage market. The industry has seen a lot of regulations since then. In such a scenario, it’s interesting to see how the mortgage banks follow-up to home loan applications.
In this ebook, we ran tests to see which banks followed-up to try and win our business.
- Number of total follow-ups from mortgage lenders
- Trends of follow-up calls from mortgage lenders
- How many follow-ups were conducted through emails
- Follow-up trends in relation to market share percentage
See which banks worked hardest to win us over
Other key takeaways from this study include:
- Home mortgage lenders prefer following-up via phone over email
- As time lapses, nearly all salespeople seem to increase the delay between successive follow-ups.
- Banks are all quick to respond to home loan applications though However, they are not all equally persistent.
In sales, it is commonly believed that persistence pays off in the long run. And our research supports that notion.