Laura Hertz is the creative director for Cultural Outreach Solutions, specializing in creative marketing and recruitment strategies for mortgage and real estate professionals. She is currently working on a cutting-edge training platform designed to empower loan officers to be successful with the next generation of buyers through strategies in customer service, marketing and social media.
This summer you may have noticed more young people than usual walking down the street staring intensely at their cell phones (sometimes to the point of physical injury!). While it may appear laughable to some, mortgage and real estate professionals can incorporate the game into their marketing strategy. Don’t believe me? Here’s how others are doing it.
The mortgage industry is leveraging technology like never before, streamlining processes across the spectrum of lending, servicing, investing and real estate. The combination of regulatory pressure and consumer expectations have set a high standard for efficiency and transparency, requiring a significant investment of time, money and talent to hit the right notes for both.
Ironically, the monkey on the mortgage industry’s back for the past 10 years — increasing regulation — is the very thing that forced companies to find efficiencies in every part of the process, which serves them well as they look to engage tech-savvy consumers. Even as the enforcement of some of those regulations is now in question, the long-lasting benefits of investing in automation will stand.
Mortgage banks have traditionally been slow to embrace new technologies, and while the technology that has improved efficiency, security and customer experience in a multitude of other industries (transportation, education and retail, to name a few) is finding its way into the loan production process, a lot of opportunity still exists in other stages of the mortgage life cycle.