HOW RAPID HOME LOANS DOUBLED CONTACT RATES AND TRIPLED DIALER EFFICIENCY WITH OUTBOUNDIQ
Rapid Home Loans was recently featured in a Mortgage Professionals of America article which began by stating “In negotiating a tough housing market last year, technology upgrades yielded the winning edge for Rapid Home Loans LLC. Rapid Home Loans founders Abe Miri and Alex Abazid were among those recently honored by Rocket TPO as top producers.” Abe was later quoted in the article as saying, ““Technology was a key piece because I always say you can have the best salesperson and best loan officer in the world but if they don’t have the opportunity for someone to say ‘hello’, they’re just not going to write business.” (“How one brokerage found its winning edge” – by Tony Cantu – 31 Jan 2024)
One of those key tech investments made by Rapid Home Loans in 2023 was outboundANI, which we integrated into their Five9 dialing system. outboundIQ had the opportunity to sit down with co-founder Abe Miri and take a deeper dive into the role that our outboundANI application played in their resounding success last year.
CHALLENGES
Not only did Abe and Alex launch their Mortgage Brokerage amid an economic downturn, but it was also during a particularly volatile housing market. This required brokers to reach out to find business – operating an outbound call center became a necessity.
Outbound calling landscape
01
“We knew that a lot of our calls were coming up spam and if we cannot get them on the phone, it makes it all pointless.”
Operational demands
02
“Alex & I are partners in the company, so we run everything top bottom and are still on the phones writing loans and helping clients.”
03
“We had the goal of making our dialer more efficient. Ultimately [the need] was getting people on the phones.”
Mastering the art of outbound
SOLUTIONS
Abe discovered outboundANI’s website while conducting research online into tech he could implement that would drive outbound performance and efficiency. He saw that outboundIQ is an Accredited Five9 ISV Partner on our site and in his words: “My eyes lit up! That’s what made me reach out to you. Based on our first meeting, we knew instantly the benefits we’d see in terms of getting more people on the line.”
01
outboundIQ Discovery Process
“The initial integration process was very simple - plug and play. In the Discovery Process, the experts at outboundIQ explained our dialer metrics and exposed where all of our holes were. The process was easy from start to finish, and very enlightening.”
02
Rightsizing ANI inventory and tuning the dialer
Rapid Home loans moved forward with recommended ANI inventory additions and worked with expert outboundIQ resources to improve dialer settings to fit their business model and goals.
03
outboundANI integration
With rightsized ANI inventory in place, we enabled outboundANI’s intelligent, automated ANI instruction engine and began to immediately drive-up contact rates and successful outcomes.
“The team at outboundIQ are a very high-level group. They respond quickly and are aways willing to jump all over any request we have and help us continually improve.”
ABE MIRI
Co-Founder, Rapid Home Loans
IMPACT
More production with one- third the calls.
“Normally, you would think you have to hit the phones, you must have more dials – a numbers game. But that’s how good the technology is. I had to check the numbers – I did a triple take – because I couldn’t believe we had more production, but six figures less in dials out.”
RESULTS
More hellos mean more loans written.
“In October, before turning on outboundANI we had 30 second on average per call, 294 hours of talking to prospects, and 157,000 dials out. Then in November when we got our new leads and integrated outboundANI, we had 364 hours of talk time, 1:08 average per call, 35 more loan applications - and did it with 56,000 dials.”
OUTLOOK
In outbound, more talk time indicates higher value conversations.
“I think 2024 is going to be a bigger year. I would say we’re probably going to double our production. We plan to always have outboundANI in our dialer - we will always be a call center and will always need what outboundANI tech and the team at outboundIQ does for us.”
STATISTICS
FEWER DIALS PER MONTH
Total outbound dials decreased from 157,000 to 56,000 – reducing wasted lead spend.
INCREASE IN CONTACT RATE
The game changer – higher contact rates directly correlate to more opportunities.
MORE LOAN APPLICATIONS
In the first month of running outboundANI – the metric that matters most of all.