Lending

Why Homebuyers Chose the Other Lender

5 mins read
November 1, 2016
By
Total Expert

Every homebuyer has a reason for choosing to work with a loan officer or a specific mortgage company. Sometimes, it’s their resounding reputation that reaches consumers through word-of-mouth recommendations. But, that rapport with past clients is just one component of the greater whole that goes into attracting qualified homebuyers.

Today’s homebuyers have a wide selection of lenders who are vying for their business. In the end, homebuyers, particularly millennials, will likely only reach out to a few after doing extensive research. And, as you could’ve guess, that research starts online.

A study done by the National Association of Realtors® (NAR) found that 90 percent of homebuyers start their search online. Meaning: Your brand needs to be online. It needs to shine, and it needs to be bright, leaving every other option out there to be a distant afterthought. And, just for reference, your brand isn’t just a logo that’s on your website and social media, either.

In today’s digital mortgage climate, a brand carries an all encompassing meaning. This includes mortgage company culture and policies; your marketing content and design; as well as highly-rated customer service.

It’s the marketing department’s overarching goal to transfer the entire mortgage business into an accurate, engaging message, and then project it into the digital world to capture the attention of targeted homebuyers. This needs to be done in a way that can be viewed from anywhere, at any given time, and in a digestible way.

Even though homebuyers are after large amounts of content to satisfy their research instincts, it’s important to know what content is needed and how to display it in an inviting way. After that, you must get that content in front of the homebuyer through different media platforms, including social media and online ad campaigns.

The World Wide Web is the first point of contact for the majority of homebuyers, and more importantly, it’s what they find when they get there. According to the NAR, 44 percent of homebuyers found the home they purchased online, presiding over real estate agents, friends, and even family.

Their new home will take time to find, since they’ll wade through web portals, local blogs, forums, social media, and other real estate pages during the research phase. At a specific point of the process, the homebuyers will need to find a way to make their dreams a reality: financing.

To make sure homebuyers end up in your office when this time comes, your mortgage brand needs to stay with them throughout the entire process. Loan officers must be where their future clients are (online) and stand out in this relentless stream of digital content so they can outshine every other loan officer or mortgage broker.

Here’s how to do that:

How to Leverage Your Mortgage Brand

In order to make sure homebuyers find your mortgage brand, you need the following:

  • A well designed, mobile-friendly website
  • Active social media channels
  • Relevant content for homebuyers

A website that’s going to respond well to every type of device — a desktop, tablet or smartphone — is an overarching SEO rule. If your website isn’t mobile-friendly, it gets punished by search engines, which, in turn, makes it difficult to be where the homebuyers are.

Similarly, if your website doesn’t display well on every type of device, you may be turning away those homebuyers who find you on their smartphones or tables.

Equally connected, search engines also populate social media profiles. When you’re active on Twitter, Facebook, Instagram, or any other platform, it’s more likely that active homebuyers will find your mortgage brand during their research stage.

Staying active on the right social media channels also builds trusts with house hunters. When you constantly share relevant mortgage news and information — preferably from the company blog — on Twitter or Facebook, you establish brand as an authority figure on these topics, giving homebuyers a trusted source to keep coming back too.

At the same time, don’t want to neglect other areas of the internet, especially because some web-based portals attract over 50 percent of all homebuyer and renter traffic.

You Should Advertise Across the Web

This past February, comScore reported that Zillow Group saw a staggering 73,364 unique viewers across desktop and mobile in January 2016 alone.  Zillow Group also attracted 12.6 percent of the total internet population to its advertising syndicates in the same month, and takes up well over half of online real estate shares.

You should advertise on these portals for the simple fact that they receive an incredible amount of viewers. The data shows that consumers take to these sites when they want to buy or rent a home. Moreover, these sites also have tailored advertising programs set up specifically for different entities, including large scale mortgage companies and individual brokers.

This should be your first go-to advertising spot, but round out your campaigns by also boosting and promoting social posts on platforms like Facebook, Twitter and Instagram. The exposure through social media increases your reputability in a more targeted, personalized way, which resonates with homebuyers looking to work with trusted mortgage professionals.

You can also track the engagement of your audiences through social media ad campaigns, making for a flexible and an intuitive way to reach a specific demographic. You can see when consumers click through, take their journey through the website, and identify where their needs are.

It won’t be long before your loan officers will send them an email introduction email or picking up the phone to connect. That brings us to our next point…

Make Sure You Have a 24/7 Follow-Up Plan

Having a 24/7 follow-up plan in place is simply a best practice for today’s high-velocity mortgage industry. When homebuyers want rates, disclosures, the fine print, they go looking for it. They don’t wait for somebody to reach out and feed it to them, thus the online-first consumer approach.

But, this isn’t an impossible feat to overcome. In fact, it’s fairly simple.

You know that loan officers can’t always take a phone call — no matter how badly they want too — nor do they have the time to send out dozens of emails.

It’s just plain inefficient. There are better ways to make sure a personalized touch reaches the homebuyer.

Two ways to reach a client before another lender does:

  • A timely follow-up workflow
  • Automated email nurturing

When a homebuyer picks up the phone or sends an email through Zillow, you should already have a follow-up workflow in place to deliver on the excellence of your mortgage brand. Whether it’s personalized talking points or an auto-generated email, there should be something in place to ensure the homebuyer doesn’t make the call to another loan officer.

Nothing is worse than seeing a homebuyer who’s already going through the process walk into the competinglender’s office. That’s not a what-could’ve-been moment, that’s a what-should’ve-been moment.

From a high level, there needs to be something in place for the initial contact, because the first contact often determines this outcome: Are they going to close with us?

Millennial buyers, specifically, have spent a great deal of time researching and gathering information ahead of time. What they’re really after during that initial point of contact is to see whether or not that specific loan officer is right for them.

Once that’s determined, the homebuyer needs enough time to continue researching if he or she isn’t ready to sit down to do the paperwork yet. But, that doesn’t mean you leave the homebuyer alone altogether.

The relationship needs to be nurtured by supplying relevant, personalized information in a way that’s not going to scare them off or be seen as intrusive. You want them to engage with the offers, so that when the big day comes, homebuyers happily sign off on the closing documents

In Conclusion

Homebuyer has hundreds and hundreds of options when it comes to loan officers ready and willing to give them financing.

But, not every one of those loan officers has a branded, consumer-focused business model in place that allows them to be where the homebuyers are, share their thoroughly crafted mortgage brand, and provide upbeat, personalized experience that every consumer searches for.

Key Takeaways:

  • Ensure your brand is found at every stage of the homebuying process, including on web portals, social media, and your website, to create awareness and credibility with consumers.
  • Prioritize advertising to where consumers search most leads to a staggering amount of web traffic back to your website and social media platforms. Then, deploying advertising campaigns on Facebook, Twitter or Instagram can round out your advertising strategies to drive personalized connections with homebuyers.
  • Have a follow-up workflow ready, with the right tools in place, so that when the calls start coming in, loan officers are front and center before the competition is given an opportunity.

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AI is no longer a future state—it’s already here, embedded in everything from ride-sharing apps and food service to factories and farms. In the world of financial services, though, this ubiquity comes with pressure to integrate AI fast, appear innovative, and keep up with competitors—all while being mindful of evolving federal and state compliance requirements. Moving fast without a plan or awareness of up and downstream implications often leads to AI-enabled solutions that either underdeliver or don’t deliver at all.

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Where enterprise AI goes wrong

Too many financial services leaders have experienced what I call “AI failure to launch (and scale).” They’ve rushed to try unintegrated AI-enable offerings and bolt on AI tools—often generalist chatbots, white-labeled versions of generative tools, and/or hooking up to MCP servers—without a clear sense of how these tools will solve their business problems or add potential risk. The result? The occasional value-add result. However, what we see more is poor user adoption, wasted spend, and limited impact.

This is the same trap we saw with “digital transformation” a decade ago, or the original horizontal SaaS applications that evolved or were replaced by vertical-specific solutions. AI-enabled solutions offer tremendous, generational promise but they risk becoming vanity-first, value-later tools. We are focused on the former.

AI that thinks and adapts: Welcome to agentic AI

Let’s make one thing clear: not all AI is created equal.  

Chatbots have been commonplace in financial services for a decade now, but remain rigid, rule-based tools that handle repetitive tasks.  I’ve worked with “AI” services for more than 15 years and each had their own place and potential when used properly. Herein lies the opportunity. Modern lenders that are focused on retaining and growing their customers in an ultra-competitive market need something more dynamic. Enter AI agents that can understand context, adapt on the fly, and speak in a human-like way. These agents are coachable, brand-aware, and learn from every interaction. They don’t follow scripts—they think in real time. And when built correctly, they become a seamless part of your customer experience.

This is the evolution from AI as a support function to AI as a trusted team member.

Total Expert recently launched an AI Sales Assistant that puts this principle into action. It functions as a scalable, intelligent teammate—able to engage leads, deliver personalized conversations, and identify high-potential opportunities—all while staying aligned with your brand voice and compliance requirements. It’s not a chatbot bolted onto a CRM—it’s a fully integrated AI-enabled solution, utilizing data, embedding within workflow orchestration, and playing nice with application logic because it has the necessary context to work within your lending ecosystem.

The real “why” behind AI adoption

Before choosing any AI solution, or any technology solution, financial services firms must ask themselves: What business problem are we solving?

For example, when mortgage rates dropped for a few weeks in September 2024, our customer intelligence capabilities identified nearly $2 billion in immediate refinance opportunities. But no team of loan officers could scale quickly enough to reach every qualified lead. That’s where AI tools prove invaluable—automating first-touch outreach at scale, surfacing the best opportunities, and empowering human teams to scale up execution to drive retention and growth.

Why embedded beats bolted-on

The types of AI-enabled solutions we are talking about can’t function effectively in isolation. Without access to timely and accurate customer data, and invoked within a specific workflow process, it can’t personalize interactions, anticipate needs, or drive conversions at the right time.

Picture an AI assistant offering a refinance to a customer, only to stall when asked for more details. If it doesn’t know the customer’s current rate or financial profile, the experience feels hollow. That’s not just ineffective—it damages trust.

By contrast, when AI-enabled solutions are embedded within a unified customer experience platform like Total Expert, it draws on a 360-degree view of the customer. It knows the data, understands the history, and delivers contextually rich conversations that convert.

This is why we’re designing our AI capabilities with a focus on the unique needs of financial services organizations. The same purpose-built approach has earned the Total Expert platform its unmatched reputation for usability and time to value.

Generalist AI offerings can be a gamble that increase costs—and time to value

Implementing AI that’s not purpose-built for financial services introduces two major risks:

1. Usability failure: Your team must spend months customizing and configuring a generalist AI tool to make it work for your specific needs—if it will ever work at all. For example, imagine you’re a loan officer and one of your referral partners introduces you to a borrower. Now, you have to choose the best way to approach the first conversation with this borrower. There are countless permutations of questions and answers which all require deep personalization, compliance awareness, and consistent representation of the sales processes and brand tone of the lender. Generalist AIs will quickly reach their limitations in these complex use cases.

An industry-focused AI offering will be trained on this specific use case and provided with the context needed to hold a dynamic conversation with the borrower. This type of AI learns and adapts with each interaction, performing the most time-consuming tasks so you don’t have to.    

2. Compliance risk: Without built-in industry guardrails, you’re gambling with regulatory violations and brand safety.  As we know, the compliance landscape for financial services is broad and evolving at the federal and state level.  Look for AI offerings that are regulatory aware and enable you to configure them based on your organization’s risk tolerance and interpretations.

Lenders don’t need more tools—they need the right tools—ones that work out of the box, understand industry nuances, and deliver immediate, compliant value.

Ask these questions before you commit to an AI offering  

To maximize the probability of success, here’s a quick checklist for vetting solutions:

  • Can it solve a real, high-value business problem, and how? Review specific examples and ask to speak with other organizations that have implemented the tool.
  • Does it function as a true AI agent, not a static bot?
  • Can it be deeply integrated into your core system(s), workflow orchestration, and data?
  • Does it include financial industry compliance and brand guardrails?
  • Can it scale without sacrificing quality or regulatory integrity?

Building the future with purpose-built AI

Total Expert has always designed technology with financial services in mind, and our approach to utilizing AI is no different. We’re not chasing hype. We’re solving problems.

Our focus on AI isn’t simply building standalone features—it’s about embedded, intelligent, and deeply integrated AI solutions. It’s helping lenders scale smarter, engage more meaningfully, and turn data into action. Our AI Sales Assistant is just the beginning—an example of how purpose-built, AI-enabled solutions can solve real problems and deliver tangible value. We are already testing and exploring other AI-enabled solutions and I could not be more excited about the current and potential value our clients and our market will achieve.

Because when AI works, it’s not just impressive—it’s indispensable.

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