Why it matters:
- Creating an excellent borrower experience throughout the home loan process is essential to not only capturing repeat business, but also referrals to family, friends and others in the customer’s sphere of influence. It’s also key if LOs want to partner with real estate agents, financial advisors and other potential referral sources.
- Many businesses that sell directly to consumers employ secret shopping to accurately assess the customer experience, but most “banks, credit unions and independent mortgage banks do not,” Stratmor Group’s Brett McCracken said in the March 2023 edition of “Current Insights.”
- “In Stratmor’s view, secret shopping is the best way for lenders to remove the disconnection between perception and reality and pave the way for meaningful improvements in customer experience,” he noted.
For additional details on how secret shopping can help you level up your borrower experience, check out Brett’s excellent article here, “What a Top-Notch Burger Chain Can Teach the Mortgage Industry About Secret Shopping.”
Pat Sherlock is the founder of QFS Sales Solutions, an organization that helps organizations improve their sales talent management and performance. For more information, visit https://patsherlock.com.
