Why have advisor search levels increased?

March 22, 2022 by Mark

Mortgage Advisors

Recent research showed that mortgage advisors are looking for products on platforms like Twenty7Tec at higher volumes than ever. What are the reasons for this sharp rise in search volumes?

Demand

The single biggest reason is simply that there is a lot of demand within the housing market right now. The first two months of 2022 saw advisors conduct greater numbers of product searches than at any point previously in their efforts to find mortgages that will let potential borrowers buy a home. Twenty7Tec had seen two million searches by mid-February, when it took until the middle of April to hit that figure two years ago.

Data gathering

Beyond that though, advisors are also carrying out routine product searches each morning even when they are not helping a specific client. They are gathering data about rates and criteria that can be referred to when needed, which is all part of the good practice that the CeMAP training course teaches them. Twenty7Tec research indicates that search volumes are particularly high prior to 9am.

Then there is the fact that advisors are searching several different times on behalf of a single client these days, which raises the search total. This was always the case when it came to first-time homebuyers, but it now applies to other types of buyer as well. It is particularly true at the moment, when the market is shifting constantly, as it leaves advisors needing to monitor rates.

The rise in search volumes is, overall, great news for mortgage advisors, as it means that business is booming.