New Mortgage Broker or Loans Officer; Winning Your Sales Prospect Part 4; Interest Rate Objections

Hi there this is Rich Grof from RG
Performance Sales Coaching and Leadership Development. Today we’re
talking about starting a business as a mortgage broker and our sub topic, or the
main topic is winning your sales prospect. So in our last video we talked
a lot about the overview of how you start your mortgage brokerage business.
Today we’re going to actually talk about that moment in time when you actually
bump into somebody and you want to make a good impression and you want to start
them in your sales process effectively so you can come up the tail end
with a potential prospect or client signing some documents. If you don’t do
it right, what ends up happening is you lose it and somebody else gets that
client, and that’s his fair game. So how are you going to prevent this from going
left or going right so you end up working with a client? Well we’re going
to start working on some very basics on this today, and so let’s get started
shall we! You know the biggest problem that we run
into is what we would call commission, or the interest rate thing where
everybody’s trying to bed out each other for the interest rate and they’re all
talking about interest rate, interest rate, interest rate, interest rate. So if
you ever get that objection showing up I’m going to give you a little clue. The
only reason that shows up as they can’t differentiate one person to another. And
so your job is to show them that you’re much different by understanding them
better, you know the more they feel that you understand them the
less likely they’re going to be resistance to moving, or make that
resistance move, to another particular mortgage broker, because
they’re going to get a quarter percent difference. So your job is to connect.
Your job is to find somebody if they don’t resonate with a feeling of sinking,
or overwhelming debt, or whatever they’re probably not a refinance. Now if they’re
thinking to moving and they’re really excited about buying their first home, or
those types of things, those are again different types of emotional hooks and
language that you need to understand. Take your ideal client, write out all the
demographics about what you know with them, the first home buyer, the buyer
that’s going to their second home, the person that’s going to refinance due to
debt consolidation, the person is refinancing to purchase a business and
or pleasure boat ,or something more important like that, you know get those
all on paper and figure out what they’re going to say, what the emotion is first,
and then what the words are that they’re going to use to describe it and that’s
how you’re going to turn around and get differentiation between your ideal
prospects and your ideal clients, because that’s really critical, because when you
get the opportunity to shake someone’s hand the faster you make contact with
them and you get to the place where you tell them, and they communicate in such a way back and forth that you know that you are working with the right person,
and they know that they’re working with the right person, their eyes light up
because they go wow this person gets me, when that happens you have yourself
somebody that you can keep all the way through the process, and more than likely
get them to a place where they’re signing the documents that they need to
help them move their mortgage the way they want to. So here’s the
tip: make sure you get it. It’s again the emotion, emotional hook, and number
two, make sure you understand the emotional language, this is all about
your discovery process so if you don’t know what that’s all about you need to
get some information about your discovery process, head back to and check out all of our information so
that you can understand just how valuable this will be the next time you
bump into the opportunity of a lifetime, because when you find that opportunity
of a lifetime, you’ve got to seize it in the lifetime of the opportunity. You
won’t be able to go back and do a do-over. You’re just going to have to
nail it on the spot. You may have only two minutes to make that impression, and
you can do it, or you won’t, but it may cost you a couple extra thousands every
time you miss it, so knowing this gives you the opportunity. This has
been Rich Grof from RG Performance Development. My goal here was today that you get an overview about how to start your business so that you’re not making
costly, costly mistakes. Please check out our website because there’s more free
information there than you may think, and if you’ve got some questions you know
how to reach us, you can just contact us through the website, that would be awesome. Please check out the other videos, we’re going to continue this session in
parts two, three, four, and five as we go forward, I’m not sure if there will be
five, but we’re going to continue this so that every time that you turn around
they’ll be another video here for you look at. It’s been my pleasure, have
yourself a fantastic year!

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