The building blocks of client trust
Here are six top tips for brokers wanting to build trust with their clients.
1.Listen to your clients’ needs
Building trust is only possible if you genuinely listen to your clients and show them you understand their needs and goals. During conversations, ask relevant questions; this shows you’re actively listening and that you care about helping them find the right loan.
Clear and open communication is essential. For brokers, being a strong communicator is more than responding promptly to phone calls and emails. It also includes knowing your product suite back-to-front so you can effectively convey the features and benefits, avoiding jargon and double-checking details so you’ve got the right information before recommending a product or starting the loan application process.
Your clients will come from all walks of life. While some people may have experience with the lending process, others will have no idea how it works. Being transparent with clients means explaining honestly and clearly how your service operates.
Many people are sceptical about receiving a ‘free’ service. They will be more inclined to trust you if they understand how the commission process works for mortgage brokers.
4.Admit your mistakes
Transparency extends to being upfront when things don’t go according to plan. If there are delays or problems – for example, a hold-up on progressing a loan application – be honest about what’s happened and advise your clients if you’ve made an error. Most clients would prefer to know the truth, especially when it’s delivered with a plan about how the issue will be rectified.
Discussing personal financial matters doesn’t come naturally to many people. Some clients will only feel comfortable talking about their earnings and assets if they believe you’re non-judgemental and sensitive to their individual circumstances.
6.Go the extra mile
Who doesn’t appreciate something extra? One Melbourne broker delights his clients with a personalised bottle of ‘house white’ wine when they settle a property. Printed on the wine label is a picture of the client’s new property and a short message of congratulations from the broker. Cheers!
A trusting relationship between you and you client is crucial to the success of your business. To find out more about building strong client relationships, contact us.