Mondays: 30 Cold Calls to Potential Sources of New Clients
There are multiple methods of cold calling, but the goal is usually the same: Sharing your value proposition. Write a two-minute script with a three-minute encore to use when you get a positive response. Once the source accepts your call, push to Facetime or Teams so you can speak “face-to-face.”
Your goal is to create enough interest that they agree to learn more about your value proposition. Note: Your value proposition isn’t product or pricing. It’s the service you provide. Talking price is like shopping for a shirt at Dollar General versus Nordstrom. Dollar General is cheaper, but you feel better when you shop at Nordstrom because there’s someone ready to help you find a shirt that looks great on you and immediately ring it up. People want the Nordstrom service from you as a lender.
Every Monday, call a mix of sources — people you know 100% will send you borrowers, people you know who send you a deal here and there, people you hope to get business from in the future.
If they see you’re trying that hard to get their business, they may first send you a first-time homebuyer with a 610 credit score who wants to use down payment assistance. Be grateful and do everything in your power to help those customers. They know you’ll be that consistent with their customers if you’re that consistent in contact.
Tuesdays: Update all real estate agents and clients
This is back to basics. You’re calling the customer for every refinance transaction in your pipeline, as well as the selling and the buying agents for your home purchase loans (with the borrower’s permission). During the call, you’ll update everyone about where the loan is in the process and what’s happening next.
You may wonder why you need to make calls when so much technology in your marketing tech stack communicates automatically with customers and agents. If everyone gets in-process videos, why do you need to personally update them?
Your personal interaction builds relationships in a way that even the best technology cannot. A conversation can make the difference between doing a transaction and having a relationship. Automated marketing will keep you top of mind. Still, the mortgage loan originator who meets with me in person and speaks with me on the phone each week is the one I’ll use for the next transaction.
People want to know that you have their best interest at heart. I’m not saying the technology is not critical. It is. I’m saying technology is the cake, and you are the icing.