1. Do you think spending at least 15 minutes each day conducting basic relevant market research would increase your knowledge base, put you in a better position to add value to your customers and referral partners AND HELP YOU MAKE MORE MONEY?
2. Are you interested in increasing your customer base and making more money?
3. When do you think it would be a good time to get started becoming more knowledgeable, increasing your customer base AND MAKING MORE MONEY?
I have an old saying that “mortgages are commodities, loan officers are not.” The question is how do you separate yourself from your competitors? One simple way to do that is work harder. A better way to accomplish this is to combine working harder with working smarter. How many times have you actually sat down and carefully examined your entire presentation? Soup to nuts. Who would take the time to do that? Right? Using the right combination of giving and receiving information is just as important as finding referrals and being able to construct the right loan program. Most loan officers can ask a friend for a referral, read a rate sheet and enter a deal into Point or Encompass. These are the basic essential tasks required to just get in the game.
Having a good presentation will determine how many touchdowns you will score.
Simple Tip
The next time you are presenting a payment saving refinance, you should have these three questions ready to go.
1. “Can we agree that the loan actually saves you money?”
2. “Are you interested in saving money?”
3. “If you were ever going to start saving money, when would be a good time to start?”
This series of questions appeals to three important factors in the decision making process.
What does the customer think, what do they feel AND what should they do. Just like the previous series of questions it ends with a call to immediate action. Question number one addresses fear which is by far the greatest of all motivators. In other words it gets the customer feeling like they will LOSE money by not refinancing. Question number 2 is obvious but important. OF COURSE everybody wants to save money. Question number 3 is a call to do something about it, NOW. It is also a reminder that failure to take action will result in further loss of $$$.
Challenge
Determine the number one benefit associated with your services. What is the primary reason you might move people to take action on your product or service? Now develop your personalized version of the three questions that tie emotion to logic.