Most people who take even a passing interest in using social networks to contact friends, family or even business associates will have come across the term “VOIP” – “Voice Over Internet Protocol”. This technology has telephone companies quaking in their boots.

Providers such as Skype (www.skype.com) offer this technology in a fairly easy and painless, consumer friendly way.

Apart from fantastic cost savings, Skype and other similar service providers offer great flexibility for workers in small businesses like mortgage brokerages to communicate cheaply – or in alot of cases, for free!

For Mortgage professionals the ability to offer local numbers to clients in different parts of the country and world is an added marketing tool – “always in your neighborhood, understanding your needs” – for instance! It also translates into savings and helps your bottom line, which in turn of course helps the consumer.

With the traditional telephone companies concerned about the growth of VOIP and how it could effect their business it looks like we are in for a real battle between a slowdown in traditional PSTN technology and the growth of VOIP. Look out for more changes in the industry!

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