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.

---

Caring - The Secret Sales Strategy

Sales information resource Just Sell, calls caring "sales love". Here's... Read More

How to Write Testimonials that Sell CDs Like Magic

"Which is your best CD?"Ever get that question? My band... Read More

Diverting the Flow of Customers to Your Business

I was a lucky kid when I grew up. Lucky,... Read More

Sell YOU With Your Small Talk (Yes You Can)

Want to build a relationship -- sell yourself for a... Read More

Increasing Short and Long Term Profits

"I was at your site for all of two minutes... Read More

What Successful Sellers Know - Others Dont ... The Subtle Art of Closing

Ask any salesperson, "At what point in the selling process... Read More

Give Up the Need to Sell

Most business people will tell you that selling is not... Read More

The Art Of Cold Calling

I know, don't groan. You have to do them if... Read More

Lance Has What It Takes

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

Do Your Words Betray You?

What do the words that you use say about you?... Read More

Miracles are Your Responsibility!

John Di Lemme on "Miracles are your responsibility"Miracles are your... Read More

Sell More Products and Services with Testimonials

Testimonials are all-important to sell anything. You may already have... Read More

Impotent Questions - How Much Are They Costing You?

Last issue we talked about what motivates people to buy... Read More

Too Much Empathy Will Cost You Money

Ever have a prospect start out your sales call by... Read More

The Problem With Technology At The Point Of Sale In Financial Services

BackgroundThere's a conundrum that currently exists between the customer and... Read More

Creating More Effective Proposals

The need for good proposals - the business kind, not... Read More

What is Lead Generation?

Lead Generation is vital to all businesses. All companies try... Read More

How to Set Appointments

The Importance of setting appointments is crucial to running a... Read More

101 Ways to Improve Your Direct Mail Response

1. Mail to your customers more often. If you are... Read More

Sales Copy Tips

Writing good sales copy is not an art, it is... Read More

How To Bully Your Prospects Into Buying Your Product or Service

Selling is a tough job, and sometimes you may need... Read More

Ten Tips for Choosing the Right Direct Sales Company

Direct sales can be your ticket to a profitable home-based... Read More

Creating Your Perfect Pitch!

Why should you describe your business to others in 5... Read More

Customer Service Revival

Value is in the Eye of the BeholderSales today is... Read More

Selling Skills - How to Handle the Dreaded Question Whats The Price?

I've written previously about how to attract customers and how... Read More

Why People Use Long Sales Copy

Have you ever wondered why some people use long sales... Read More

Needs Based Selling

I am sure you are familiar with the phrase, "I... Read More

Refining Your Telephone Prospecting Techniques To Be A Master Closer!

Let me create a picture for you. This is the... Read More

How To Get Face To Face Over The Phone

One disadvantage of selling by telephone is the lack of... Read More

Selling the Dr. Seuss Way

"I am Sam. Sam I am. Do you like green... Read More

Leveraging Yourself Up To Executives When Selling

The fastest way to get a decision made is to... Read More

The Email Blow-Off

This week's article is my response to a question by... Read More

How to Lose the Sale Quickly & Easily

Here are five sure-fire ways to guarantee you will not... Read More