How mortgage brokers can combat the challenges of disjointed communication during a property transaction

In an ideal world, all parties involved in property transactions, including mortgage brokers, conveyancers, surveyors, and lenders, would be able to communicate seamlessly.    

In this article, we explore one of the top four challenges faced by mortgage brokers; the barrier of disjointed communication and update chasing during a property transaction.   

Why is communication a challenge for mortgage brokers?  

As all mortgage brokers know, one of the main challenges in the property industry is disjointed communication. This challenge of communication between conveyancers, brokers, lenders, and surveyors is caused by a range of factors, including: 

• use of old paper-based systems  
• inconsistent processes,    
• lack of computer system integration.  

The absence of a joined-up approach across the sector has resulted in parties having to write or phone for updates, causing delays. Unfortunately, when communication falters during a property sale or purchase, the result is unnecessary delays, client dissatisfaction, and even deals falling through.      

How can this challenge be addressed?   

At Optimus, our software was designed to overcome the traditional communication barriers that are experienced by mortgage brokers dealing with conveyancers. This is achieved by:   

• Our online platform where you can quickly view the progress of transactions in real-time and provide accurate and timely updates to your valued clients, saving you time on progress chasing. 
• Charging a fixed fee for our services, we ensure that our clients receive clear and concise communication from the beginning of their case. This guarantees that they will never receive any unexpected bills, and our mortgage broker’s reputation is enhanced due to this transparency. 

Our customer services team bridges the gap between mortgage brokers and conveyancers. By utilising quick communication methods, mortgage brokers can reduce the time to generate revenue. 

Our new guide explores the day-to-day challenges that brokers face, and outlines top tips for how to get the most revenue out of each transaction.  

Download your copy today.