3 Reasons To Invest In Loan Servicing Software For Your Real Estate Company's Website

If your real estate company hasn't yet invested in a real estate loan servicing software system for your website, now is a good time to consider doing so. Here's why.

Attract More Customers

One of the best reasons to incorporate loan servicing software into your real estate company's website is to stay competitive in the marketplace and attract more customers to your services. If other realtors in your area offer their customers an opportunity to get pre-approved for a loan on their websites and you don't, chances are that customers will choose to work with them over you for the convenience alone.

So, give your current and prospective customers the satisfaction of getting approved for a mortgage online while in the comfort of their own home before they schedule their first consultation appointment with you. Chances are that you'll start seeing an increase in business once your new loan servicing software is up and running.

Save Time and Money

Allowing your clients to apply for a home loan on your website will help save those clients and your company some time and money overall. Customers will find out whether they've been approved for a loan within minutes after applying on your website, instead of having to wait days or weeks for the application process to be completed.  

And, because your support staff won't have to spend production hours manually processing loans in-house for customers, you can expect to save some money on payroll in the long run. That saved time and money can be better spent helping clients host immaculate open houses and hunt for the homes of their dreams.

Gain Market Insight

As loans get processed through your website, you'll receive valuable reports and analytical information that should help you better understand how the market is performing throughout the year. For example, you may determine that clients with lower credit scores tend to shop for homes during the winter months more than those with higher credit scores.

You can then create advertising campaigns and buying and selling techniques accordingly. Or, you may notice that your loan software is being accessed only during specific parts of the day, which could indicate a website performance problem that is inhibiting access to customers in some way.

And at the end of the year, you can gain insight into how many of your clients you were able to secure a loan for through your software program and how many you still had to process manually. This will allow you to make adjustments to your service offerings and loan processing practices to improve automation as time goes on.