Feature Announcement: How To Create Milestone Templates

Feature Announcement
November 10, 2021

Today, we’re going to show you how to use a feature we just released: the Milestone Template function. Previously, you were able to modify and change and reorder the milestones. But when you went back to the milestones on your next deal, the milestones would revert to the default settings that we have. Those default settings are a good start! But sometimes you will encounter agents who want a little bit more granularity. Agents that you're really just trying to blow out of the water and blow up their inbox to show them how hardworking and how on-the-ball you are. On the other hand, sometimes you have agents that don't want to hear anything from you: “Here's the contract, email me when we’re CTC.”

Milestone templates allow you to adapt to the agents you work with. When in doubt, you should definitely err on the side of blowing up inboxes. Think of it like tracking an important shipment through the mail. Most people crave an endless amount of updates. People want to know everything, and they will generally never get annoyed by getting too many updates about the status of something. It’s human nature to want to track statuses.

Don’t be shy about sending multiple emails in a day either. There will undoubtedly be plenty of days when you won’t send an email, so it will be reassuring to clients and agents alike to see you in a flurry of activity every once in a while.

Here’s how to set up the Milestone Templates:

Step 1: Navigate to your deal dashboard.

Step 2: Start new deal.

Step 3: Enter all deal details and upload a listing pic(note our new image cropper!).

Step 4: Click Next.

Step 5: From here you can reorder, rename, delete, or add additional milestone templates. Go crazy!

Step 6: After clicking Next, you will be prompted to save your new milestones as a template or not.

Step 7: Upon saving the template, it will now be available in the template dropdown of future deals.

That’s it!

Our suggestion is to add as many milestones as you possibly can. Here are some milestone ideas:

  • LE Disclosed
  • LE Signed
  • Appraisal Inspection Scheduled
  • Appraisal Inspection Completed
  • CD Signed
  • Final CD Balanced
  • Closing Package With Title Agent
  • Loan Funded

Let us know what your weirdest and favorite milestones are!

We mention this often, but most of our automated emails should be quickly followed by a personal email from you, the Loan Officer. If you send an “Appraisal Inspection Scheduled” email, then we recommend immediately following up with an email that says something along the lines of:

Good morning/afternoon, Team!
Just wanted to let you know that the appraisal inspection is scheduled for this Friday at 3pm. We’ll continue to keep you posted.
Babe Ruth

Your agents are going to think that “not only is this LO sending out all these amazing updates, but every time he or she sends one, they reply two minutes later, and they let me know exactly what this means, or they put it into context for us, or they reassures us, or just show us that they care.”

And this makes all the difference in the world. And, at the risk of repeating ourselves: You can't overdo this. We have never had an agent say, “you let me know about what was happening in my deal too much.” Because these agents’ livelihoods, even more so than loan officers, ride on each individual deal. So, the more information you can give them, and the more at ease you can make them the better.

We want to see how crazy your milestone templates can be. Show us your 30-milestone template!

It's very rare to reduce the amount of milestone templates based on the LoanShout default Milestone Template. In fact, the LoanShout Milestone Template is too small. Think of it as a blank canvas on which to paint your milestone masterpiece.

As always, let us know if you have any questions, requests, or new ideas for our team!

Sean Grapevine
Sean Grapevine

Sean is the founder and CEO of LoanShout.

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