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.
![]() |
|
![]() |
|
![]() |
|
![]() |
I am often reminded of the following true story whenever... Read More
If you went to see your doctor, and he mentioned... Read More
Recently I was out trail running along the South Fork... Read More
Selling--a word that strikes terror in writers and professionals. We... Read More
So now the time has come to invest in Lead... Read More
Even in this day of websites, many customers want to... Read More
Special Requirements for Reprint: we ask only that you include... Read More
Everybody is familiar with the old retail chant, "Location, location,... Read More
If you need to hold a fundraiser and don't know... Read More
Linda felt like she had reached a plateau in her... Read More
How do you get people's attention and build their interest... Read More
Selling is just a whole lot easier when you know... Read More
Telephone canvassing, or cold calling, is the practice of sitting... Read More
I'll play a seller, using conventional selling methods, selling something... Read More
Doing business over meals is a ritual that has existed... Read More
The sales letter you can't put down?the advertising copy that... Read More
You can have your cake and eat it.What is it... Read More
Here's a chilling thought. If you were to die tomorrow,... Read More
"If you don't think well of yourself, no one... Read More
Most consultants I've talked to don't spend any time trying... Read More
Have you ever gotten frustrated when you realize that your... Read More
A few weekends back, the Brobdingnagian Bards performed at the... Read More
Any company that relies on selling a product or service... Read More
Wherever you turn these days you'll find articles covering every... Read More
The headline that appears over the salutation in a fundraising... Read More
Smart buyers will always ask for a better price. Unfortunately,... Read More
Along with having an innovative supply chain, there's another reason... Read More
A closing question asks for a final decision. A trial-closing... Read More
Value is in the Eye of the BeholderSales today is... Read More
People ask me, "What should I charge?"I say, "Ask your... Read More
Knowing what to do when meeting a prospective client forlunch,... Read More
I was sitting at my desk last week when my... Read More
To be effective your sales letter must be opened, read,... Read More
As a result of providing marketing consulting, training and coaching... Read More
Cold calling can be a great way to generate quality... Read More
Imagine you just met someone new. The formalities of names,... Read More
In the last article... Read More
Testimonials are all-important to sell anything. You may already have... Read More
The USP (Unique Selling Proposition) is based on the assumption... Read More
While living in the technology age where everything is computerized,... Read More
It is a basic tenet of behavioral psychology that people... Read More
Doing business over meals is a ritual that has existed... Read More
This evaluation is not for the "weak-kneed". Real questions to... Read More
Hello, do you have a website and sell something on... Read More
Ahh. Selling. Sometimes, this is a word that is dreaded... Read More
When it comes to effective selling, one simple fact never... Read More
One of the most useful and fundamental communications lessons that... Read More
The multi million pound cosmetics industry is acutely aware of... Read More
The traditional "Quotation" was originally devised during the Industrial Revolution... Read More
For two winters I heated my house with an old... Read More
Several weeks ago, I conducted a "Mastering the Cold Call"... Read More
Hello everyone, hope your day is going well! I know... Read More
We all learned in Sales 101 we must follow up... Read More
How many times have you heard that you gotta get... Read More
When it comes to buying mortgage leads, there are many... Read More
JOHN DI LEMME on "I Am A Habit"H-A-B-I-T...When 95% of... Read More
With hundreds of direct sales companies out there, how do... Read More
Business owners should be more like doctors.Forget selling and start... Read More
You have a great product, but it's not flying off... Read More
"I am Sam. Sam I am. Do you like green... Read More
If you were selling a mansion, and you were selling... Read More
Now business owners and sales professionals can develop a Faster... Read More
Make no mistake that emotions are the driving force behind... Read More
Saturday morning, I sat in my pajamas, sipping strong, black... Read More
Health insurance lead generation systems provide a stead stream of... Read More
Part one of this article is available at ... Read More
Sales |