What differentiates one construction lender from another? In this highly competitive industry, borrowers and builders have plenty of options. Many are taught to look for differences in costs – but rates remain fairly standard from one lender to the next. What makes the difference is the ease of access and overall quality of customer service one lender can offer over the other.
Customer Experience Ultimately Is the Deciding Factor
As a borrower or a builder, your primary goal is to find a loan to facilitate your dream. You want a low rate and easy access to that loan. But, ultimately, most borrowers and builders know rates are standardized. What makes your lender truly stand out is how well they can meet your needs of:
- Supplying information and availability quickly
- Creating a user-friendly experience
- Creating a positive, quality experience from start to finish
Banks and other lenders can no longer assume consumers will simply walk in the door. Rather, they have to provide the tools to ensure it is easy to get into a loan. Technology helps to ease these struggles. The true differentiator in this space is how well a lender can create a positive, fast, and highly customizable experience for the borrower.
With construction lending software, designed with the builder and borrower in mind, it is possible to create the world-class service borrowers want. User experience – fast, reliable information in real-time with instant access, and easy completion of the construction process – really turns heads.
Are you facilitating the best outcome for your clients? If not, it's time to consider updating your construction lending software to create a best in class customer experience.