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Discussion Forum
Home | Sales & Marketing | Common Mistakes That Greatly Affect . . .
 

Common Mistakes That Greatly Affect Your Mortgage Conversion Ratios

BATTLECALL GUEST EXPERT: Shawn Meldrum, High Profit Marketing 

Are you converting a good percentage of your leads to applications? If not here are a few common mistakes that may be lowering your percentages.

1. No system to capture and log prospect information and contact data on incoming ad calls.

2. Poor tracking of incoming calls for source and ad success.

3. No attempt to offer something to a prospect that's "on the fence", like a: free report, a cost savings comparison or an informative video or cassette tape with testimonials.

4. Not directing the prospect towards what you want them to do.

5. Not following up on leads with a phone call.

6. Turning leads over to an L.O. or other person that hasn't been trained properly.

7. Not tweaking your ads so that only those who are really interested and pre-qualified call, example: Don`t call us if you're satisfied with your monthly mortgage-payment.

9. Selling/quoting rate before pre-qualifying the prospect.

10. Selling rate instead of payment or service.

11. The "wrong" person answering incoming ad calls, example: over worked/cranky receptionist, busy loan processor, lazy L.O., etc.).

12. Not sorting and sifting (smart cherry-picking) through leads to determine the "good" from the "bad".

If you correct these mistakes in your own business, you might be surprised how many more applications you start completing.


Got an opinion? We want to hear from you. Post your thoughts or comments here in our Mortgage Warrior Forum. Come join the conversation and say hello...onward mortgage warrior!


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