Quote:
Originally Posted by member101  Also great points! We have out TMs do the exact same thing. I don't know if you've listend to any of Erik Webster's trainings at loanofficersurvival.com but we actually have our telemarketers listen to all of his cds (cold calling, LO training, as well as the lastest complete mortgage salesperson).
A perceived need can be a stronger drive to refinance than an actual need sometimes. If a borrower thinks they NEED to reifnance to get the cashout to go on the vacation they promised their wife and kids then they need to. Obviously if by refinancing it is hurting them then there are questions of predatory lending though.
What it boils down to is if they want something don't try to convince them otherwise. When a borrower TELLS you what their hot buttons are then you have them.
When it comes to sub prime deals ALWAYS give them 5-10k at closing. Sub prime borrowers think about the present. If they can get 5k in their bank account and pay off some of their credit cards and lower their monthly payment... they will not CARE about anything else.
It's all about knowing your market and knowing your clients. Basically, Education and Sales Skills. |
All points I agree with.
I also believe in Karma too. I've had plenty of chances where I could have completely F'd over a customer but didn't - I just made a good commission.
If you need to F people over in this industry to make a living, it will work for a while....... until you get hit by a bus
Remember it's not about doing 1 loan a month making you 10k, it's about doing 10 loans a month at 1k. This may seem silly and more work, but you will see so many referrals and new business that you can't even imagine.
If you help people achieve their goal, they will help you achieve your goal. Happy selling and making money to all!
BUY EXCLUSIVE 24 HOUR PURCHASE MORTGAGE LEADS - NETSKRILL.COM