Digital tools have changed the way many industries do business, and real estate is no exception.

Today, home buyers expect to receive a customized experience, similar to what big brands such as Uber, Amazon, and Airbnb offer. Whether it is for the application process, approval process, or for answering any questions, customers expect the communication to be personalized, convenient, and timely. 
Texting delivers that memorable experience and research shows it’s becoming the preferred way of communication within real estate. And it’s not just helping with customer relationships, it’s good for your business too. In fact, automated texting can increase lead responses by 50%-70%.

4 Ways to Nurture Mortgage Inquiries With Text Messaging 

Leveraging text messaging to nurture mortgage inquiries can benefit you in many ways. With the help of personalized follow-up messages, status updates, and transaction updates, you will be able to use this messaging vehicle to connect with your leads and prospects seamlessly. 

If you are new to text messaging as a channel of communication with your customers and if you want to use it to address mortgage inquiries, here are some of the messaging types that you should know:

• Response to Inquiry Messages

Sales reps can easily reply to mortgage inquiries with text messages, virtually from anywhere and anytime. You can set up automated text messages to quickly respond to any mortgage inquiries, which means you never miss a message.

• Follow-Up Messages

Consider, for instance, someone who fills out a mortgage form on your website for a home loan, what happens next? Do they have to wait several hours or even several days to hear back? A text follow-up message can work wonders in this situation. By replying to the inquiry with a simple text follow-up message right away, the customers feel that you are already working on their request. 

• Status Updates

Imagine your lead has applied for a mortgage from your company and has submitted all required documents virtually. Your prospect would like to know the status of the application at every stage. Sending status update messages will keep them updated on their mortgage application, which they will appreciate. Document verification status, payment reminders, and application approval intimations always keep the prospects informed about their applications. This will make them confident and comfortable that their application is closely monitored. 

• After-Transaction Messages

Getting a feedback form filled from your customers is always a helpful way to know what part of your service they liked and what you can improve. Encouraging your customers to give feedback through text messages will always be easier than asking them to fill out lengthier forms over an email. 

5 Benefits of Nurturing Mortgage Inquiries using Text Messaging

1. Generate more Leads 

When people enquire about any services online and ask any questions they expect an immediate response. 

The easiest way to answer your customer’s queries immediately is by sending text messages, using chatbots, or scheduling automated messages. When you send immediate replies to your customers, their mortgage queries can be resolved immediately. Ultimately this helps you generate more leads and win more deals.

2. Win more Deals, Faster

According to a recent study, 35% to 50% of mortgage deals are won by the vendor who responds first. Emails are definitely one of the most used means of communication but with so many emails being received on a daily basis, many don’t get read. 

Text messaging, today, is the preferred way to connect with your customers first and then build your relationships with them. 

3. Complete Applications Easily

While processing mortgage applications and inquiries, you need to collect a lot of details from customers. You need further information from your clients before you go ahead to approve the applications. It is not always possible to collect all documents at once. Text reminders, requests, shortened links to forms, and updates about the mortgage applications will always help make the process smoother. 

4. Earn More Referrals, Reviews, and Clients

Referrals always lead to more customers. But, how do you earn more referrals? Word of mouth always helps. But sending links to review forms to your customers through text messages is another way to increase responses. With more responses and referrals received through text messaging, you can find more clients in less time. 

5. Send Promotions 

Sending promotions to your customers without their consent can be tricky. You may get spammed or may also go through some legal actions. Before you send promotions, you need to get consent from your customers. Quick text messages using keywords will help capture consent from your customers. Once you have the consent of your customers, you can send messages regarding mortgage plans and deals. 

Want to know how SMS-Magic Converse helps clients nurture mortgage inquiries with text messaging? Reach out and we would be happy to give you a personal tour and share examples from our clients!