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.
What do the words that you use say about you?... Read More
Have you wasted valuable time and money on promotion that... Read More
Most business people will tell you that selling is not... Read More
What can strike terror into the heart of even the... Read More
There are thousands of books and seminars on how to... Read More
The formula for defining a "profession" is similar throughout many... Read More
Any company that relies on selling a product or service... Read More
People ask me, "What should I charge?"I say, "Ask your... Read More
A completed communication consists of a sender and a receiver.... Read More
After reading and researching thousands of books, articles and other... Read More
Special Requirements for Reprint: we ask only that you include... Read More
You can always tell a good salesperson, they are always... Read More
Why should you describe your business to others in 5... Read More
On an introductory call, how do you gather all of... Read More
How do you respond when an absolute stranger calls, at... Read More
If you went to see your doctor, and he mentioned... Read More
If you live in England then you will already be... Read More
Its official. The news just came out. Yes, we are... Read More
In my professional experience as a sales and marketing coach/consultant,... Read More
A conversation: The Salesperson: "I don't cold call-I want to... Read More
Robert Louis Stevenson said 'Everything in Life is Selling' and... Read More
Any selling approach that lacks a proven strategy, a practiced... Read More
The USP (Unique Selling Proposition) is based on the assumption... Read More
HOW TO MAKE AN EXTRA $100,000.00 EACH YEAR BY ADDING... Read More
For many of you the Fear of Selling is a... Read More
1. Make your reader visualize they have already bought your... Read More
When I write sales letters for my clients, one rule... Read More
This issue's topic was suggested by a sales rep for... Read More
Have you ever run DOWN an escalator that was going... Read More
When it comes to effective selling, one simple fact never... Read More
Sales is all about negotiating. You are negotiating from the... Read More
Everywhere I turn, I'm being asked to weigh in on... Read More
Even in this day of websites, many customers want to... Read More
Myth 1: Sales People are all Shady!In the Broadway play... Read More
After our first half-hour telephone coaching session, when asked what... Read More
In the work place, the amount of good things that... Read More
The best of all worlds is to have a product... Read More
The other night I was watching a classic western from... Read More
There are hundreds of books available to teach you how... Read More
A completed communication consists of a sender and a receiver.... Read More
Many mannequin manufacturers sell their mannequins in wholesale. This means... Read More
WHY ARE YOU WRITING THIS BROCHURE OR SALES LETTER? A... Read More
Any company that relies on selling a product or service... Read More
Everybody is familiar with the old retail chant, "Location, location,... Read More
Yesterday I received a call from a financial planner named... Read More
A closing question asks for a final decision. A trial-closing... Read More
Ready to put your Web pages up? Ready to sell... Read More
Virtually every business you contact has this question in their... Read More
After reading and researching thousands of books, articles and other... Read More
Use Bundling To Increase Your Profits And Sales An effective... Read More
As a result of providing marketing consulting, training and coaching... Read More
How many times have you heard that you gotta get... Read More
(Objection handling tips excerpted from Objections! Objections! Objections!)People buy people.... Read More
Hi, I'd like to discuss the most powerful words you... Read More
JOHN DI LEMME on "I Am A Habit"H-A-B-I-T...When 95% of... Read More
You are the productWe're all in the selling business whether... Read More
Selling your products at shows can be difficult when you... Read More
You know that word of mouth can grow your business.... Read More
Growing up in the South, I used the phrase "big... Read More
Ever have a prospect start out your sales call by... Read More
Along with having an innovative supply chain, there's another reason... Read More
Picture this scene from the 1984 smash comedy movie from... Read More
Zig Ziglar use to say in seminars and on tapes... Read More
Health insurance lead generation systems provide a stead stream of... Read More
Can you say who you are and what you do... Read More
"If you do anything foolish or try to get out... Read More
Sales |