Case study mortgage lending & real estate:
In 2013, a mortgage broker realized that the lending industry seem to be about 5 to 10 years behind other industries, in terms of technology. Specifically, with the ability to streamline business operations and build strong client relationships. Mortgage lending and real estate demands agility, mobility, and be anywhere – anytime connectivity. These are the characteristics of the industry. The ability to build a strong client base and to be able to collaborate with peers. This is a business in which the agent spends most of their time out of the office. They are most often on the road. To be effective and to properly service clients, brokers and agents need to run their businesses from their smartphones. Or even their tablets.
Successful Mortgage Lending & Real Estate
He knew in order to be successful, his brokerage firm couldn’t afford to be attached to a premise-based, phone system. Without wanting to hire an IT person or staff to manage his on-premise system. Additionally, he wanted a phone system and his business applications to be cloud-based. Furthermore, he wanted to provide the “anytime-anywhere-any device”. Functionality and connectivity he and his agents need to serve their clients efficiently.
“We are in a cell-phone driven business and the ability to customize call routing means agents can get their calls wherever-whenever.” Additionally, he wanted a system to have a powerful capability to automatically route agent’s calls. This was necessary to service their clients efficiently. His agents were able to download an app to their mobile phones to receive and send emails and faxes. They could join a video conference meeting and conference calls anytime-anywhere. “The bottom line is that clients can reach my agents easily. And those clients are much happier with our service.”
Lastly, with a traditional phone system, the average increase of business in mortgage lending and real estate industry is 3%. In a cloud-based phone technology, the average increase in business is 40 to 50%.
This is thanks to the efficiency and functionality of a cloud-based phone technology. The broker also realized the dramatic cost savings over traditional phone system of more than 30%.