"People need people they can talk to and can help navigate all of the moving pieces"
With a career that’s spanned over 28 years, Kelly Zitlow (pictured), EVP of sales & marketing at Cornerstone Home Lending, has been a first-hand witness to the digital revolution that’s shaped the industry. Something which nowadays seems like a distant memory. Zitlow told MPA that when she first started, the concept of ‘Googling’ was non-existent – and the leap from there to today’s digital abundance is nothing short of extraordinary.
“The accessibility to information breaks down barrier to entry,” she said. “I have leveraged digital to be able to do just that. We have such a fantastic opportunity in the mortgage industry to educate and guide people about homeownership. Leveraging digital allows us to bring important information about the home loan process, credit, and lending guidelines to the masses. This is important as the majority of home buyers use a home loan to finance their home purchase.
“There’s so much education that knowledgeable mortgage professionals have that people need. And it’s exciting to help people build wealth through acquiring real estate. I love the evolution of digital and watching as it continues to evolve at a much faster pace now than it did 28 years ago.”
From paper to pixels
This transformative power of digital technology extends to every facet of the mortgage process, from client interactions to the nuanced aspects of processing and underwriting. In Zitlow’s view, every part of the process has leveled up and has become even more efficient.
“Thirty years ago, underwriting was very manual which took much longer and had some level of subjectivity,” she said. “With the innovation of automated underwriting systems, efficiency and speed help to give clients answers quicker while assessing risk in a more consistent manner, technology really has changed the game.”
However, automation shouldn’t be used blindly – it can never fully replace the human touch said Zitlow. She told MPA that with all of the advancements technology brings, buying a home is still an emotional process.
“People need people they can talk to and can help navigate all of the moving pieces of the home buying process. It doesn’t matter how much money you have or how little money you have, whether you’re a first-time homebuyer or this is your 20th house, it’s emotional,” she said. “And there are clearly certain situations where automation just doesn’t make sense, such as if someone’s loan is denied. There’s a big difference between receiving a templated auto generated loan denial letter or getting a call from a caring human that explains the reason and can give hope as well as guidance.”
Digital tools have also revolutionized client engagement, a domain Zitlow is particularly passionate about. The mortgage journey, often fraught with complexity and emotion, has been made more approachable through digital means.
‘Texting is a big deal’
Digital technology has changed the game with client interactions. Whether it’s sending a personalized video about their financing strategy or meeting via zoom, getting face to face with people helps to break down barriers and builds trust.
And it’s the changing demographics of homebuyers, particularly the rise of first-time buyers from the millennial generation, that necessitates a digital-first approach. According to Zitlow, 35% to 40% of current buyers are first timers. If mortgage professionals aren’t evolving and able to speak this generation’s language, they’re doomed to fail.
“Texting is a big deal,” she told MPA. “We built into our technology platform the ability for our team members to compliantly leverage a digital texting platform that is fully integrated with our CRM. These are tools that allow us to better communicate with our buyers in the way they want to be communicated with. They love it!”
Beyond adapting to digital communication, Zitlow has been a trailblazer in using video to enhance client relationships and bring home loan education to the masses. Her venture into video communication in 2013, well before it became a standard practice, is a testament to her forward-thinking approach.
“This was long before video was a thing,” she said. “Up until then I had been consistent in sending out an email to the real estate community weekly, with an educational nugget that would help them with their business or their buyers. I did that for years, but in 2013 I had this idea [we] should embed a video in this email, and it turns out people felt more connected to the message.”
The final pillar of Zitlow’s tenure has been consistency in communication and marketing – something that’s only achieved through dedication and practice. Drawing an analogy to health, she told MPA that you can’t expect to reach your fitness goals if you only frequent the gym once in a blue moon.
“Consistency is a key. It’s like going to the gym - you just can’t go once and think you’re going to lose 20lbs,” she said. “You must do it consistently and over time (even when you don’t feel like it) until you begin to see the impact. I send a knowledge based, weekly email to the real estate community 50 weeks out of the year and have been doing so for two decades. I also post a minimum of one consumer video to YouTube every week. My team and I are proactive in digital evolution and are consistently leveraging it. It has served me well over the years.”
