In today’s digital lending environment, maintaining a consistent supply of homebuyer leads is a constant challenge. With consumers increasingly shifting their homebuying journeys online, and nonbank lenders competing for those consumers, banks and credit unions are hard-pressed to modernize their lead generation efforts.
Fortunately, NestReady is here to help traditional lenders generate up to 90 percent more leads on their platforms. Here are five ways NestReady’s solutions make it happen.
#1: Mortgage Lenders Build Relationships Earlier with Home Discovery Tools
Most homebuyer lead generation tools and solutions are focused on the home search and discovery process. Yet research shows that as many as 85% of homebuyers will search for a mortgage lender before they begin looking at homes. With NestFinder from NestReady, lenders can easily add a turnkey real estate search platform to websites, helping them keep and nurture those leads within their existing web presence.
NestFinder offers all of the features today’s consumers expect in a home search interface, including integrated MLS listings, map search, and a mobile-ready design. NestFinder also offers white-label customization to help lenders create a consistent brand that incorporates their look, feel, and messaging.
#2: Send the Right Message at the Right Time with Machine Learning
Powering NestReady’s property search platform for borrowers is an even more valuable tool for real estate lead generation: machine learning.
Across all industries, companies that have adopted machine learning are seeing an average increase in leads and appointments of more than 50 percent, accounting for 40-60 percent of total cost reductions. NestReady’s machine learning algorithm analyzes visitor behavior to identify the actions and characteristics of the best leads. Using these insights, loan officers can optimize their marketing to deliver the right message to the right lead at the most opportune moment.
In addition, NestReady’s artificial intelligence solutions build on these machine learning insights to deliver automation and recommendations within a lender’s CRM software, guiding loan officers toward the follow-up actions that help them convert more leads.
#3: Real Estate Leads Maximized By Staying Connected to Past Clients with NestEngage
Acquiring a new customer typically costs 5 to 25 times more than retaining an existing customer. With that in mind, NestReady’s NestEngage platform applies machine learning to lenders’ portfolios, helping them stay connected to past clients in order to drive future business and minimize churn.
NestEngage offers each borrower a unique home profile page with market trends, neighborhood insights, and other homeowner tools to help them monitor the value of their home over time. In turn, NestReady’s algorithm predicts when a client is ready to refinance, sell, or buy another property, giving lenders the opportunity to reach out first with financing options. NestEngage also notifies lenders as soon as a home they financed hits the market tracks transaction updates in their preferred CRM, helping them stay up-to-date.
#4: Drive Referrals with NestReady’s Built-In Realtor Network
Referrals are often touted as the gold standard of real estate lead generation, and with good reason. Seventy-five percent of companies say referrals are their lowest-cost customer acquisition method. In addition, referred customers have a 16 percent higher lifetime value than other customer types, opening the door to more repeat clients.
Traditionally, it can take years to develop productive referral relationships. But NestReady’s realtor network combines the best realtors with superior service and cutting-edge software to help loan officers quickly build strong connections with real estate professionals.
NestReady’s realtor network starts with partner agents who have been pre-screened to meet the highest standards for expertise and customer satisfaction. Then, NestReady pairs each of a financial institution’s mortgage leads with the local realtor who has the skills and expertise best suited to their needs. Once a connection is made, NestReady tracks each milestone and maintains dedicated customer service to streamline the homebuying experience even further.
By delivering all this value, NestReady incentivizes partner agents to refer their own leads and clients to lenders using the NestReady platform, creating a steady stream of high-quality leads.
#5: Sweeten the Deal with Cashback Incentives
Finally, NestReady helps lenders convert more leads and reduce closing times by offering the most significant cash reward in the mortgage industry. Borrowers who finance their home through a NestReady lender receive 0.5% of the sale price as cash back, with no limits or hidden conditions.
To learn more about how NestReady helps loan officers as well as mortgage lenders generate and convert more homebuyer leads, you can get in touch here. You can also follow us on Twitter or LinkedIn for product updates, industry news and more!