Selling a mortgage or selling the ability to buy a house?! – Have you got the right business message?

Buying a house usually is a daunting, stressful experience, and a big part of it is the ability to get a mortgage to be able to buy the houses.

You are buying a house, but the bank is selling you a mortgage, is the bank selling the right thing to you?

From the consumer perspective, the aim is not to buy a mortgage but to buy the house, and the mortgage is meant to achieve the aim. If the consumer can avoid buying a mortgage to buy the house, then they will do. The consumer is looking for anything that would make buying a house experience smoother and faster.

From the bank perspective, they are looking to sell their products. The mortgage is one of their key products because of the controlled risk and long-term annuity revenue. However, is the bank selling what the consumer wants?!

This is a dilemma for most of the businesses. How to position your services/products to your clients? The bank should sell to the consumer the ability to buy a house and show its benefits.

Relevant benefits

  • Quick decision
  • Stress-free
  • visibility and automated process with minimum paperwork
  • Competitive rates
  • Covers legal and insurance requirements…etc.

Irrelevant benefits

  • The best bank in the town
  • The best mortgage consultants
  • The biggest bank
  • The fast bank

I would love to hear your views. do you agree/disagree?

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