Three Ways to Increase Mortgage Applications

If you are in the mortgage business, the very first thing you need before you can get anywhere, is an application.

I spent years working in the mortgage industry, and my goal was to close one loan per week.

Monday through Friday I would find myself a spot in the back of the office where I could pound out my phone calls from 5:30pm until 8pm every night. My daily goal was to take at least three applications per evening, resulting in fifteen applications per week.

This is how I obtained my applications.

1. I was always prepared. Every thing that I could possibly need was at my desk. If a customer had a question about monthly payments, my mortgage calculator was right there. If a customer had a question about a particular loan program, I had my literature right there. When a customer commented on their needs and situation, my stationary was right there to take notes.

It is very important to have all of your resources at your finger tips, otherwise you will be fumbling around looking for things, or putting your customer on hold, while you find what it is you need.

2. Take the edge off

When you are speaking with a potential customer, the conversation doesn't have to be 100% business all of the time. You can take the edge off by finding something in common with your customer. If you hear a dog barking or a baby crying, make a comment about it. People love to talk about their pets and baby's. This will relax your customer, making it easier for you to get the appropriate information from them to complete your application.

3. Overcome objections

During the application process you will be hit with many objections. This is perfectly natural, most people don't jump at the chance to fill out applications for mortgages and refi's.

Here are some of the more common objections;

A) I have to speak with my spouse.

A good response to this would be; Is your spouse available to go over it with me right now? I would be more than happy to discuss it with him/her.

Another objection . . .

B) I have to think about it.

A good response to this would be;

Is there something that I didn't explain clearly enough? Or, is there anything you would like me to go over with you again.

The above objections are probably the most common you will come across. If the responses I recommended don't get your customer talking again, than politely thank them and ask their permission to send them some literature.

4. Purchasing Leads

I often found purchasing leads from a reliable lead source to be beneficial when it came to taking applications. The reason is obvious, these people are making it very clear that they want somebody to call them so they can apply for a mortgage, and most likely they are waiting by the phone. So its worth a shot.

These are only a few of the activities I practiced during my time as a loan officer, and it was rare that I didn't meet my weekly goal of fifteen applications per week.

I'm sure if you practice these same activities you will experience the same success that I did! Good luck!

This article may be reproduced by anyone at any time, as long as the authors name and reference links are kept in tact and active.

Jay Conners has more than fifteen years of experience in the banking and Mortgage Industry, He is the owner of http://www.jconners.com, a mortgage resource site, he is also the owner of http://www.callprospect.com, a mortgage lead company.

---

How to Sell High Tech Solutions

Many companies are looking to improve upon the speed, security,... Read More

Youve Got a Great Business, but Nobody Cares!

I would like to share a disturbing little secret with... Read More

A Simple Truth - Authentic Sales Tip

A Simple TruthDo you have the right stuff?Are you consistent... Read More

Selling Abilities - Part 1

Selling "-abilities": Reliability (Part 1 of 4) Most salespeople... Read More

Never Stop Selling

The question: "When should a growing company slow down its... Read More

Aikido and The Art of Cold Calling

Imagine being in a crowded concert or bar. All of... Read More

More Cleaning and Janitorial Customers Using Yahoo

We use this method to find new cleaningcustomers, and it... Read More

Leave a Better Voice Mail Message

Yesterday I received a call from a financial planner named... Read More

Dont Be Macho Selling Ice to Eskimos

This issue's topic was suggested by a sales rep for... Read More

The Benefits of Display Mannequins

Mannequins are primarily used in stores to display clothing. A... Read More

Why You Buy, Part Three

Still more discoveries from the recent studies in behavioral economics:Over-Valuing... Read More

Write On The Money: The Ten Commandments (Plus Five) Of Profitable Sales Letter Writing

According to the Direct Marketing Association, in 2003 U.S. direct... Read More

Breaking the Ice and Winning Over the Client

Wherever you turn these days you'll find articles covering every... Read More

Lance Has What It Takes

Lance has what it takes and then some.Did you know... Read More

Going Back To Get Ahead

Have you ever run DOWN an escalator that was going... Read More

Connecting with Customers

I just got off the phone with a friend of... Read More

Everything in Life is Selling

Robert Louis Stevenson said 'Everything in Life is Selling' and... Read More

How to Sell Your Products Without Competition

Selling your products at shows can be difficult when you... Read More

Ten Top Tips for Terminating Telephone Terror

1. Make telephone callsFew things are more terrifying than the... Read More

Define Your Best Customer

To be more effective at developing relationships, one should always... Read More

How to Eliminate Objections to Price

Have you ever stepped your way through the sales process... Read More

How to Leverage Your Influence

Why do we get into sales? Typically it is two... Read More

Unique Selling Propositions

If you have competitors, then you should have at least... Read More

How to Build A Steady Stream of Customers--Step One

The success of a small business depends upon a steady... Read More

How To Shorten The Selling Cycle And Reduce Buying Stalls

The main reason for buyer resistance and selling stalls boils... Read More

Do You Know When You Are Being Sold To?

Britney Spears has recently caused controversy with suggestions that the... Read More

How To Profit From Initial Consultations

"I'd love to work with you, but?"How many times have... Read More

Another Warm Lead

Saturday morning, I sat in my pajamas, sipping strong, black... Read More

Health Insurance Lead and Health Insurance Leads

Health insurance lead generation systems provide a stead stream of... Read More

Sell With KISS, As In Keep It Simple, Stupid

One of the most useful and fundamental communications lessons that... Read More

Improve Your Sales Closing Ratio

Occasionally EGOPOWER readers send me questions or topic suggestions that... Read More

How to Acquire More Leads

The most effective prospecting techniques were revealed in the August... Read More

To Buy or Not to Buy? Motivating Your Customers to Take Action!

All customers have a choice to make. Sometimes that choice... Read More