Turning First-Time Homebuyers Into Lifelong Customers

First-time homebuyers are the golden clients of mortgage lenders and real estate agents, they bring not only the initial business but the potential for much more down the road. It is estimated that the average American will buy five homes in their lifetime, and let’s not forget the potential for refinancing and referrals.

These days first-time homebuyers are plentiful, there are more clients than ever before coming in through mortgage lenders’ doors, but how can you capitalize on this momentary opportunity and turn it into a career-long success? And how exactly can mortgage lenders stay engaged with these borrowers, and make sure that they continue to be top of mind for when the need arises again?

Discover How NestEngage Boosts Sales and Client Retention

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The Cost of a New Customer

When we take into consideration the cost of a new customer, the importance of boosting client retention becomes even more critical. The cost of a new customer is not necessarily only calculated by how much you spend in marketing, your ads, marketing team, content development. But also the amount of time and effort that you spend to attract that customer. With all of that added up, it is estimated that it costs five times more to acquire a new customer than to retain a current one.

Staying in Touch for the Entire Journey

Mortgage lenders must become part not only of the homebuying stage, but of the complete homeownership journey. Staying in touch with clients keeps you top of mind for their future needs and also for referrals to family and friends, but of course, doing this manually would be a lot of extra work in an already very busy schedule.

Providing Value Throughout

While it is essential to keep in touch, what will you provide through it? We know that a lot of times keeping in touch ends up looking like spamming clients, and the way around it is to provide value throughout the journey. You want your clients to look forward to hearing from you because you are constantly providing something that will benefit them.  

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The NestEngage Solution: Redefine How Your Clients Monitor Their Home & Collaborate With You To Achieve Their Next Real Estate Goal

NestEngage enables you to stay in touch automatically while also providing clients with valuable financial guidance and insight related to their property and real estate goals, whether the next step is to monitor their existing property or to identify when is the right time to renovate, refinance, sell, or buy their next home.

While guiding homeowners, NestEngage gives lenders access to actionable insights, which enables a better understanding of their customers' refinancing, purchasing, selling, or credit needs and alerting you when a client shows a particular interest. Enabling lenders to engage with customers in the right way at the right time and boost client retention. 

Want to learn more about how NestEngage turns first-time borrowers into life-long customers? Read our latest success case here.

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