Who are you monitoring? Do you even know who you should be monitoring? Where should you start?

At MonitorBase, we give you the tools you need to mine origination opportunities from your contact database and create consistent and tangible results. So, who should you be monitoring to capture this business? At a glance, the best contacts to monitor are:

• Past clients
• Prospects
• Credit turndowns
• CRM databases
• Old leads
• Phone contacts
• Email contacts
• Realtor partner’s client lists

There are numerous types of potential clients to monitor for origination opportunities. Listed below are some of the most consistent categories we see. 

Past Clients:

• Never forget that past clients are perfect origination opportunities, even when things are slow. Mortgages are still needed and taking place consistently. Originators tend to believe that their past clients are happy with their interest rate, but in reality, there is regular activity in your past client list due to a myriad of reasons, especially if there’s a rate improvement. 

First-Time Home Buyers:

• The saying is “date the rate, marry the home.” First-time home buyers will always be an underserved market. People need housing as their needs and families develop and they look to lock down a home. This category accounts for 30% of transactions in the market.

Current Homeowners:

• Their price may be permanent, but the rate is temporary. Current homeowners may feel like they can still get a good price for their current home and are comfortable with the idea of paying a higher rate in order to buy a piece of property at value. 

Refinances:

• Did you know that refinances account for 20% of the market? Life circumstances might require a refinance such as taking out equity on the home or removing a borrower from the mortgage. These transactions happen whether the rate makes sense or not.

Investment Property Buyers:

• This category consumes roughly 15% of the market and is an important demographic to tap into. 

If you’re searching to find potential clients, utilizing your database of contacts whom you already have a great relationship with is the first step. Our algorithm tells you whom to reach out to and when. Monitoring your contacts, old lead lists, and contact lists from your referral partners is the most efficient and affordable way to capture more business in 2022 and 2023. 

Remember that to monitor your contacts, you need a name, and then either address, cell phone, or email address. 

To learn more about what to upload, how to upload, or what kind of mining MonitorBase can offer, reach out to sales@monitorbase.com to schedule a demo and start capturing more opportunities as an originator