In today’s digital age, consumers are turning to the Internet to research companies. In fact, according to Qualtrics, online reviews influence 93% of purchase decisions. We believe online reviews can be incredibly useful yet should be taken with a grain of salt. Here is how we recommend evaluating reviews for mortgage lenders when shopping for a loan:
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Check out several comparable mortgage lenders and their reviews.
- Even if you are set on a lender, it is always good to have a reference point.
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See if the reviews were obtained only in a certain period of time and see how historical some reviews are, especially for the bad ones.
- If you happen to come across a bad review, note both the date and how the issue was addressed or if the issue was resolved.
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Look for “brand language” in the review. Often, this means the positive review was prompted by the brand itself.
- To combat this increasing problem, Visio Lending uses a review platform called Trustpilot. Reviews given by actual Visio Lending customers have a check box next to them that say, “verified order.”
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Look for a variety of trends in the reviews. This implies authenticity, since different consumers like different things about lenders for different reasons.
- Further, patterns and trends can shed light on which team members and products stand out to other savvy investors.
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Keep in mind that people have more of a tendency to leave bad reviews than outstanding ones. Sometimes a short and sweet positive review is more compelling than a lengthy unhappy one.
- It is also useful to see how the brand responds to positive reviews.
Happy mortgage shopping! To see authentic Visio Lending reviews, check out our Trustpilot Profile.