In the mortgage industry, there is a growing debate about the effectiveness of lowering rates to attract more business. While some buy-side agents believe that reducing rates will lead to increased clientele, experts caution that this may not be the most sustainable long-term strategy.
– Buy-side agents are considering lowering rates to attract more business
– Experts warn that this may not be the best long-term strategy
– Sustainability of business growth should be considered
– Other factors such as customer service and reputation should also be given importance
While a temporary influx of clients may be achieved by offering lower rates, it is important for buy-side agents to consider the long-term implications of this strategy. Factors such as maintaining profitability and ensuring customer loyalty should not be overlooked in favor of short-term gains. Ultimately, a well-rounded approach that takes into consideration various aspects of business operations is crucial for long-term success in the competitive mortgage industry.
You can read this full article at: https://www.housingwire.com/articles/feeling-the-squeeze-nar-settlement-terms-trigger-commission-compression/(subscription required)
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