Context with Mike DelPrete Justin Messer: Hand-to-Hand Combat in Mortgage
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Feb 10, 2025 Justin Messer, President and CEO of Prosperity Home Mortgage and a leader in the mortgage industry, shares insights on his journey and the intricacies of mortgage origination. He discusses the significant impact of technology on loan processes and how quick pre-approvals enhance customer experience. Justin emphasizes the importance of building strong relationships with real estate agents and navigating lead generation challenges. He also highlights the unique dynamics of operating within a Berkshire Hathaway affiliate and why trust is paramount in the complex mortgage landscape.
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Consistent Attach Rate
- Prosperity Home Mortgage, affiliated with Berkshire Hathaway, maintains a 20-25% mortgage attach rate.
- This consistent performance challenges tech companies claiming higher attach rates as a novel strategy.
Attach Rate Ceiling
- Mortgage attach rates plateau at 20-25% due to agents' independent thinking and client pre-approvals.
- Justin Messer prioritizes providing best-in-class service to become the top-of-mind choice for agents.
Hand-to-Hand Combat
- Justin Messer prioritizes face-to-face interactions with agents, spending more time traveling than in the office.
- He believes understanding agents' unique needs is crucial for prioritizing service and product development.