7 Essential Strategies To Maximize This Refi Boom

With interest rates falling and many analysts predicting that they will stay low, the opportunity to refinance mortgages has rarely been better. Savvy homeowners know this, and are rushing to do exactly that. Perhaps you’ve even seen business increase all on its own thanks to the nationwide refinancing boom that these historically low rates are inspiring.

Regardless, there are still steps you can take to make the most of this exciting time. With strategic planning, you can make 2019 the year of a lifetime, while also setting yourself up for sustained success throughout your career. Here are 7 strategies that we can’t recommend enough.

1. Act Quickly and Decisively

As we mentioned above, a lot of experts do expect this window of opportunity to last for some time. Economist David Payne of Kiplinger wrote in a recent article that he expects rates to stay more or less static throughout 2019 -- a sentiment shared by the majority of mainstream economists. But don’t let this lull you into complacency! The people who jump on big opportunities first nearly always come out ahead. And if you aren’t moving to take advantage of this situation, you can rest assured that someone else will.

2. Identify the Low Hanging Fruit

Take some time to review your client database, and to identify which people stand to benefit the most from refinancing their mortgages. (There should be a lot of them -- after all, it was only a few months ago that the interest rate on a 30 year mortgage was over half a percentage point higher!) These are the clients that you should be prioritizing, because they are the people that you can help right now. Take advantage of that opportunity, because they will be easy to convince, and they will undoubtedly be grateful.

3. Make Mortgage Planning Review Part of Your Daily Routine

Since mortgage reviews can be tedious and time consuming, it is best to schedule time in your day to accomplish as many as possible without eating too much into other activities. Whatever point in your day you feel most productive would be fine -- though there’s a lot to be said for starting your morning with tasks that are tough and important. Once you’ve built the habit, it will become second nature. (Especially if it’s making you money, which it inevitably will!)

4. Try Time-Saving Technologies

Achieving a lot doesn’t need to mean working incessantly. In fact, doing so is oftentimes detrimental. Overworking yourself can harm the focus you have in your professional life, while also detracting from the happiness and balance you strive for in the first place. The point is, if you want well-rounded, sustainable success, it’s important to be efficient. That’s exactly why it’s so important to work smart and take advantage of the incredible technology we have at our fingertips.

Slydial is one great example of a technology that can save you time and money. The basic idea is simple: you create a pre-recorded voicemail, and then you deliver that straight to the voice mailboxes of your entire list. The results can be quite powerful. After all, in a matter of minutes, you can deliver an impactful message to dozens or even hundreds of clients and leads.

5. Get Social on Social Media

Another fantastic example of efficient message-sharing: social media. Maybe you have a large personal following on Twitter -- or maybe all your customers have “liked” your professional Facebook fan page. The bottom line: if you have an audience, speak to them! It’s another highly impactful way of reaching large numbers of people in a short amount of time.

6. Understand Your Audience

Of course, sharing your message isn’t the only aspect of truly connecting with an audience. If you really want to help people understand the benefits of refinancing, it’s also important to listen to their concerns and offer solutions that fit their goals. One common example of this: a “lower monthly mortgage payment” is one way of framing the benefits to your clients - but remember that, for some people, “reducing the term of your mortgage by applying your savings to your principal” could be the more attractive option.

7. Use this Opportunity to Enhance Your Personal Branding

Last but not least, remember that by offering genuine help and assistance to your clients, you can pave a road for long-term success by banding yourself as a debt-management expert. When you talk with your clients, let them know that you will be reaching out proactively and helping them navigate the life cycle of their mortgage, always there to help them identify opportunities such as this current window for refinancing. The value you will build by doing this will only grow and your clients come to think of you as an objective, helpful voice that leads them to better financial choices.