If you want to keep your borrowers coming back in a challenging market, work on these strategies to give them more opportunity.

In the competitive private lending industry, lenders likely find it increasingly difficult to differentiate themselves from their competitors. As rates continue to compress and margins thin, there is little wiggle room for lenders to stand out based on pricing and leverage.

Players in the space must become more creative to draw borrowers and gain greater market share. It is therefore tremendously important for lenders to figure out ways to be more than just a financing provider and to offer other resources that keep clients coming back. If lenders can essentially create an ecosystem that provides everything their clients need, from property leads that are suitable for their next deal through services to make closing a breeze, why would borrowers need to go anywhere else?

Here are some areas where lenders may want to consider adding resources or partnering with complementary service providers to become that one-stop shop for their clients.

An Educated Borrower Is a Successful Borrower

As real estate markets and trends shift over time, investors must stay current to experience long-term success in the space. Especially for newer investors who may still be finding their footing, it can be challenging to navigate through all the real estate data available to find what is useful.

Providing expert advice and industry insight is an area where private lenders can offer additional resources for their customers. The best part is this doesn’t have to be a big lift. The members on most lenders’ teams likely already have industry knowledge, or the lenders have connections in the industry they can partner with or refer clients to.

Getting started can be as simple as referring clients to trusted industry resources or data providers that conduct regular education about industry trends. Organizations such as CoreLogic, ATTOM, the American Association of Private Lenders (AAPL), and the National Association of Realtors (NAR) provide access to articles, webinars, and other content related to industry data and trends. Lenders can identify relevant educational content and webinar sessions and promote them to their borrowers to keep them informed.

As an additional step, lenders can summarize key takeaways to highlight what is most important to their clients or could be most helpful. This small step can help narrow down the expanse of data available in the industry and show the client their lender is providing value.

Lenders can also create their trend reports based on their own origination data, the expertise of their staff, and data platforms they may have access to. Creating and releasing recurring reports that focus on up-and-coming areas of the country to invest in, what loan programs are most popular and producing the greatest return, and more are great examples to keep your customers aware. Using those reports, lenders can also conduct quarterly webinars to provide an “inside” scoop into upcoming trends their borrowers can take advantage of to improve their businesses and reach their own investing goals.

Sourcing Properties to Drive Future Success

Although industry insight and access to trends can be a great benefit to borrowers, an investor simply can’t invest without access to the right properties and a constant flow of inventory to invest in. Lenders that find ways to help source deals for their clients or, at a minimum, get unique real estate investment opportunities in front of their borrowers will always have a significant advantage over their competitors. What better way to keep your borrowers coming back repeatedly than teeing up and vetting the properties you know they will want to invest in? And, of course, these properties have been vetted to fit your lending criteria!

In a time when lack of inventory is one of the biggest issues real estate investors face, lenders often have access to resources that can help their borrowers find their next deal. In real estate, relationships are everything, and private lenders often have existing relationships with industry professionals who are in the know when it comes to off-market deals.

Most lenders already have a network of real estate agents, brokers, REO agents, and investors they work with. Any of these real estate professionals may have access to properties that are not listed publicly for sale. It makes sense they should be tapping into those relationships to find properties that could turn into their borrower’s next deal. Lenders should consider working with their borrowers to create property “wish lists” they can provide to their industry contacts. That way, when off-market properties that match that criteria cross their desk, they know exactly where to send those contacts.

Lenders should get creative with outreach to source properties for borrowers. Real estate wholesalers, looking to quickly sell discounted properties, and probate agents, handling off-market properties after homeowners pass, can be valuable contacts. By leveraging these unexpected contacts, lenders can find excellent opportunities for their clients.

Turning to Technology

One final way lenders can better equip borrowers to succeed in any market conditions is to provide them with access to the right technology. Although there are numerous tools your clients could tap into to reach their investing goals, some of the most powerful platforms provide investors with both market data and ways to source deals—all in one convenient place.

Platforms like REiDEAL Master help investors find off-market deals by identifying motivated sellers and marketing to them. Privy offers visibility into MLS-listed properties and alerts investors to potential deals based on their criteria. Lenders partnering with these tech providers to offer access or discounts to their borrowers can set themselves apart.

Another avenue lenders can direct borrowers to for off-market opportunities is social media platforms. Lenders can have their presence in Facebook groups specializing in off-market deals in various markets, or they can refer their clients to various groups in their target markets. This is just another great way for lenders to help their borrowers tap into new opportunities and also have ongoing long-term success finding properties.

Be More Than a Lender

Long gone are the days when lenders could simply rely on their products to draw in customers. Lenders should be focusing on ways to stand out from their competition and provide additional value that keeps borrowers as long-term clients.

Ultimately, a lender’s success hinges on the success of their borrowers, so going that extra mile to be a partner rather than just a funding provider will pay long-term dividends.