While attracting new clients is essential in today’s competitive mortgage brokerage landscape, nurturing your existing book may deliver the greatest long-term value. Building lasting client loyalty could transform one-off borrowers into lifelong advocates who return time and again and refer friends and family. Here’s why it matters and how you could make it happen.
Why client loyalty is a game changer
A loyal client base provides consistent revenue through repeat business, refinancing opportunities and word-of-mouth referrals. Serving existing clients often costs less and can be more profitable than acquiring new ones. Beyond finances, loyal clients strengthen your reputation and market positioning, which is a key to sustainable growth.
Understanding what clients want
Today’s clients want personalised service that shows genuine care for their unique circumstances – there’s no such thing as one size fits all. Clear communication, timely follow-ups and proactive loan reviews build trust and can turn brokers from service providers into valued financial partners.
Practical strategies to boost loyalty
- Implement a robust follow-up system: Regular check-ins, anniversary messages, market updates and proactive repricing keep you front of mind. For example, repricing with a client’s current lender can reduce churn by up to 32%*, saving clients money without the hassle of refinancing.
- Personalise the experience: Small gestures like branded settlement gifts or tailored communications create memorable moments that clients associate with your brand.
- Leverage technology: Tools like BrokerEngine Plus and AFG’s SMART marketing program automate follow-ups and client communications. This ensures no opportunity slips through the cracks and frees up your time to focus on building relationships.
As AFG Partnership Manager Ian Cornwall puts it: “Repricing is the barbecue conversation starter – it’s how you stay front-of-mind.” By investing in client loyalty, you create advocates who could help your business thrive for years to come.
Ready to take the next step?
Client loyalty is just one piece of the puzzle when it comes to building a brokerage with lasting value. For practical strategies on scaling your business, preparing for succession and planning your eventual exit
Source: Sherlok Home Loan Pricing Spotlight 202404 – FINAL VERSION FOR DISTRIBUTION
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