I forward this story very interesting in the most recent issue of Market Matters from the California Association of Realtors. The question it raised in my mind, what would you as a buyer looking to purchase the home you want to live be willing to pay for great service. The answer is if you work with a true professional, none. This is the level of service I strive to provide all my clients. Check out my testimonials or give me a call and we can discuss what you can expect when you work with me. Thanks for reading, cheers cvc
Stress-free service ranks high
A recent survey found that about one-third of consumers are willing to pay more for a mortgage that comes with superior customer service and less stress.
- The survey, conducted by Carlisle & Gallagher consulting Group, was weighted toward the higher end of the income scale – almost half of those interviewed earn more than $100,000 annually. Slightly more than half had either bought or refinanced a home since 2010.
- Asked to name the most-important factor in the mortgage-selection process, more than 80 percent of those surveyed cited costs.
- A “high-touch” segment expressed a willingness to pay more for a less stressful application process. In particular, the 18-to-35 age group seemed most inclined to pay more for convenience and direct access.
- After costs, consumers cited trust in the financial institution and customer service as major factors, particularly with big banks.
- Topping the list of pet peeves were: High cost, slow execution, difficult communication, and an inability to track the status of an application. Chief among the respondents’ expectations was having direct access to a mortgage representative. When asked if they would be satisfied with an online chat, most said “no.”
- The study also found that big banks are sitting on considerable unrealized potential among customers: 70 percent of respondents would prefer to have a mortgage with their primary bank. Only 40 percent do.
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