A client mentions in a meeting that their fixed rate ends in three years. You make a note of it, and three years later the offer comes from their bank or a competitor. Yet the end of a fixed-rate period is one of the surest deals an advisor has. You just have to catch it.
Why the end of a fixed-rate period is so valuable
As the fixed rate runs out, a mortgage client faces one of the biggest financial questions in their household. Stay with the bank or refinance? How long to lock in the rate? Whoever calls first with a clear comparison has the deal almost guaranteed. And it often opens the door to insurance, savings or investments too.
Where the dates get lost
- It’s only said out loud. The client mentions it in passing and it never makes it into your notes.
- They live in your head or a notebook. Once you have a hundred clients, keeping track is impossible.
- The bank is faster. It sends the client a renewal offer months in advance. If you reach out after that, you’re too late.
When to reach out to the client
It works best to get in touch about six months before the fixed rate ends. There’s enough time to compare offers and prepare a refinance, and the client doesn’t have their bank’s offer in hand yet. Then follow up three months ahead, when the actual rates are known.
What to write down for each fixed rate
- End date of the fixed rate and the bank
- Loan balance and current monthly payment
- How the client feels about the risk of a payment change
- Changes in family or income they’ve mentioned since last time
How to automate it
ZAPSIO picks up the end of a fixed-rate period straight from your conversation with the client. When the client says in a meeting that their fixed rate ends in March, it shows up in the meeting record under sales opportunities and is saved to the client. At the right moment, ZAPSIO reminds you it’s time to reach out. The same goes for a policy anniversary or a promised follow-up with an offer.
Your client overview then shows every upcoming deal in one place, sorted by date. No spreadsheet, no notebook.
Your meeting record done in 2 minutes
ZAPSIO prepares the meeting record from your client meeting. Try it free for 5 days.
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