Any regular readers of this blog knows how amused I am with the “HOW ARE WE GOING TO FIGURE OUT THESE MILLENIALS!!” hysteria in the mortgage business right now. Our business is no different than most other service oriented businesses. If you don’t continue to innovate and aren’t constantly spending time thinking of ways to create a better customer experience for a fair price, you will lose market share over time.
We’ve all seen conference sessions where panelists have discussed “if the human loan originator will be replaced”. The answer is easy. Human loan originators will never be completely replaced, but as each day passes, a larger percentage of new home buyers entering the market will desire a different experience on the financing side of transaction. 94% of millenials are now shopping for homes online The only reason more aren’t securing financing online is because the technology isn’t there yet. But it is evolving QUICKLY. If you’re not thinking about creating a different experience for the home buyers that want it, you should be.
Our upcoming Summer Conference will have a heavy focus on the new emerging technology & innovation in our industry. As well as strategies on ways to pay for that technology (which is not free) through increased operating efficiency and creative growth and expansion strategies. The agenda is now set and we will once again have record turnout and many of our industries top leaders in attendance. Our conferences are special events. If this is your first one, you are in for a treat.
TMC - Chief Operating Officer