Feature Update: Introducing Weekly Deal Updates

Feature Announcement
October 6, 2021

Today, we launched our Weekly Deal Update feature! Now when creating a deal, you can choose a time and day of the week to have an email sent automatically to all parties on a transaction.

This is helpful for multiple reasons. Occasionally, you may legitimately have no updates for a whole week. If you submit a deal to a lender on a Tuesday, you may get approval back that week, but you may not get title and appraisal back until 10+ days later. This would leave a whole week without any communication with your agents. The weekly updates allow you to set and forget at least one touch point with them.

Weekly updates also allow you to preempt agent "check-ins." Agents often have their entire monthly income resting on just one client's deal. They spend the entire deal worrying and wondering if the deal will actually close. Eventually, they're going to get nervous enough to call you and check in. You don't want your relationship with an agent associated with anxiety.

To alleviate that "will we close?" anxiety, it's important to over-communicate deal progress. As social media companies have discovered (much to the demise of modern civilization), notifications literally lead to increased dopamine production. You want to be responsible for multiple little dopamine blips with every agent during every deal, and you want to do it frequently enough that there's no time for deal anxiety to set in.

You can view a sample weekly update email here:

Sample Weekly Update Email

Deal updates are enabled and scheduled for 4pm on Fridays by default. You can adjust these settings on the Parties screen of a new deal dashboard.

Weekly Update Configuration in LoanShout

In the next few weeks, we will introduce a global option in the Account Settings screen, which will allow you to adjust your default weekly update settings.

Now that you know all there is to know about weekly updates, you can create your own deal with this feature enabled!

Create A Deal Now

Existing deals can be edited to enable weekly updates, too!

As always, please let us know if you have any questions, bug reports, or feature requests.

Sincere thanks,

The LoanShout Team

Sean Grapevine
Sean Grapevine

Sean is the founder and CEO of LoanShout.

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