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thebankoffice
Joined: 13 Jun 2007
Posts: 5
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| Posted: Thu Jun 14, 2007 1:39 am Post subject: Sales Tips For Mortgage Dudes |
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* Don't limit your referral network to realtors. There are several financial partners you can build referral networks with to reach potential borrowers. People like Financial Planners, Accountants, Insurance Agents, and Attorneys. All of these professionals aim to achieve long term financial goals for their customers, and each can offer contacts and referrals to motivated and goal oriented borrowers.
* In this industry, everyone other than friends and family needs to know that you are a mortgage leader. It may sound corny, but I know of a major successful mortgage broker who wears a laminated name tag with his business name and what he does on it. People respond to backstage access looks and feel. For some reason, he says, it makes him look like he knows something that they don't and they need to talk to this celebrity. He often finds many clients when he has breakfast at his normal spot.
* At all times anywhere you go: Get every single email address of anyone you meet. Always carry a pen and paper with you along with your own business cards. Start a newsletter with industry news, discounts (coupons) and jokes. Send it out every week and encourage your friends to send it to others. Faster than you think, you will be "viral" forwarded to others who trust what their friends send them.
* Unfortunately, we are not order takers anymore. We now have to sell and work hard to close loans. Things will pick up but in the meantime, concentrate on your borrowers pains. What is it that makes them hurt inside? A major selling technique used by Value Selling is that you need to address selling like your client is your patient and you are the Doctor. In order to help with the problem, you need to focus on the cause before the symptom. If you can find the cause in the stresses that borrowers are dealing with and then talk about the symptoms, you then can diagnose and fix the problem for them. It always feels good when your Doctor says ...you are going to be fine. Think about it.
* You may be the most expensive lender for your borrower. This is a good thing if approached with that dreadful question. Stand tall and state that you get what you pay for. Understand your products and show the value and benefits of why you are more costly but confirm to them that your service is by far unmatched and comes with care. Remember, you are dealing with an emotional sale. No one who looks for a loan or home purchase is in their right frame of mind. They are scared and nervous about the outcome. Tell them you will hold their hand and walk them through everything. A friend in need is a friend indeed. Be that friend to them. And be the Doctor.
* It takes 30 days to form a habit. Place sticky notes on your monitor with positive thinking phrases and tips you find handy. Read and use them daily and replace them every month with new ones. You would be amazed at how this stupid little thing works!
James Carner
I used to work for Lucent selling million dollar phone switches, these tips helped me a lot! |
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JennyScoth0109
Joined: 14 Oct 2007
Posts: 9
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| Posted: Sun Oct 14, 2007 11:52 pm Post subject: |
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| Thanks for sharing a good tip here. |
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MC Guy
Joined: 20 Jan 2008
Posts: 23
Location: Eugene, OR
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| Posted: Mon Jan 21, 2008 11:13 pm Post subject: |
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Very good article. I recently have gone into the insurance business and though I always knew that insurance agents were a good referral source for brokers and loan officers. I didn't realize how connected they are. I think insurance agents overall can dive further into a clients over financial and life goals then brokers can just by the nature of the business. If you have a good insurance agent that also deals with securities sending you referrals then you are starting to build a very solid network.
Just to add one more..to your fine list. Being a former wholesale rep I worked with a few brokers that had a very good network of referrals and one of the better ones was a credit repair agency.
Good luck! |
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freddyb45
Joined: 28 Aug 2008
Posts: 15
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| Posted: Thu Aug 28, 2008 3:46 pm Post subject: |
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| Very useful info - thanks for sharing! |
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Jenie0109
Joined: 27 Jan 2009
Posts: 307
Location: chicago IL
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| Posted: Thu Feb 12, 2009 8:39 am Post subject: |
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| very useful indeed... thanks for the info |
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dorsini
Joined: 07 Jan 2009
Posts: 13
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| Posted: Mon Mar 02, 2009 5:17 pm Post subject: |
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Great post James!
David Orsini - Vice President
Top of Mind Networks
Mortgage Closing Gifts
http://www.topofmind.com/marketing/address-stamper.cfm |
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