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Selling mortgages is not rocket science: Teach those you are serving

Jan 02, 2005

Mortgage broker 2000: Five attitudes to avoidFred Steinberg closing, techniques, strategy, mindset Volumes have been written ... training tapes have been purchased ... and seminars have been sold out. All were about the same subject: closing transactions. Everyone involved with sales or other disciplines that encourage learning about newer and better closing techniques all concentrate on what to do and how to do it. There are also things that you should not do. The "should not do" list is typically about attitude and assumptions. Are you sure that you know more than your client? Are you overly-confident that you are more knowledgeable, and exude a certain confidence that your client can detect? Are you so sure that this is a good thing? If you do, you may want to be careful about being overly- condescending and demeaning towards your prospective client. The risk is that the client may feel ignorant or even inadequate, and be driven away. There is no doubt that it's always important to know your material, and to carry yourself as an expert. It is also important to be aware of the fine line between expert and arrogant know-it-all. Remember, this is vocal expression, including the tone of your voice and your body language. Keep the tone friendly. A more critical attitude to avoid is the feeling that the prospective client knows more than you do. The truth is that they probably feel uneasy and more inadequate than yourself! Keep in mind that they are probably coming to you because they need a service...your service! For most of us in the mortgage business, it's money! Don't feel nervous or uneasy. Remember, the truth is that they know very little about our industry and how it works, and wont be able to detect any small deficiencies. Speak confidently, and it will be reflected in how the client perceives you. Many clients present a bravado that will fool you-often to help overcome their own feeling of inadequacy or low self-esteem. The risk is that you may withhold some of your own knowledge, which will lead to a limited presentation on your part that simply may not do the job! At the termination of a closing, while you are collecting documentation, you may feel that the deal is closed...solidly. You may be letting the competition in the door with complacency, instead of using continuing customer service techniques. You may be waiting too long to return telephone calls, or rushing the client during those calls. You may be procrastinating instead of providing a timely service. We all do these things at some point in our own personal bio-rhythmic lives. Remind yourself of how hard you have worked to attract the business and you won't take it for granted. Treat all of your customers the same, regardless of size or volume. Do not dismiss the smaller ones because they represent less income. They will easily detect that they have less value to you, and begin to drift away. Every piece of business is important towards building income; try not to develop attitudes that distinguish your business by size or volume. Finally, don't presume that your clients and residual contacts have confidence in you. This leads to complacency, and as a result, you stop trying to earn their continuing confidence. Your perception of the client leads to how they interpret your actions. In the end, being aware of how you are perceived will help you maximize your income. *Excerpts from this article were taken from The New Magnet Marketing by John R. Graham, and The Competitive Advantage, 1999, a monthly newsletter geared towards CEO's. Fred Steinberg is President of Express Business Funding. He may be reached by phone at (941) 945-3863 or by fax at (941) 945-2853.
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