Investor Review: CUSTOMER SERVICE
SPONSORED CONTENT Customer Service as a Key Differentiator EXCEPTIONAL CUSTOMER SERVICE IS AN IMPORTANT FACTOR AS YOU CONSIDER A LENDER.
NICHOLAS FROMAN
M any lenders have focused their strategy on providing discount experiences with bargain rates at the cost of a personalized and outstanding experience for their clients. The savvy investor, however, keeps in mind the relationship they hope to build with their funding partner and the hospitality they provide throughout the funding and servicing experience. Functionally, the funding process represents less than 6% of the average lifespan of an investment loan with a lender. Why would you want to work with a lender who shops out the other
94% of time servicing your loan to a third party? A third party who is unfamiliar with you and the specifics of your deal? Building a relationship with a full-service lender allows them to view the entire circumstance of your deal and portfolio holistically, focusing on you and not just the quantitative values of your project. With the homogenization of lending partners around volume-based lending, customer service becomes an increasingly pivotal factor in the decision-making process of real estate investors. Investors should continue to scrutinize the relationship they
hope to build with their funding partner, considering some of the following key differentiators.
PERSONALIZED COMMUNICATION
In the digital age, personalization is key. Borrowers expect communication to be tailored to their specific needs and situations. Lenders can achieve this through advanced customer relationship management systems that track borrower interactions and preferences. For example, automated yet personalized emails, text messages, and phone calls can significantly enhance the customer
58 | think realty magazine :: september - october 2024
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