How To Keep Clients From Falling Out During Processing
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EXPERT: Ameen Kamadia, MortgageMagic.info
My wife and I spent the weekend at a Newlywed
Retreat. What a great experience. It was a cross between a seminar and a
vacation. We learned about marriage, had fun, and met new people at the same
time.
One of the sessions reminded me of the mortgage
business.
What we did was, as a group, we listed what we
thought Love was, before we got married.
The list included things
like...
- Fairy tale romance
- No fights
- Lots of time together
- Unconditional acceptance
Then we made a list of the way we think
of Love after marriage, which included...
- Lots of work
- Compromises
- Sacrifices
Big difference huh? And if you're married you
probably agree with these lists. If you're not married, you have been
warned.
Anyway, I got to thinking that many of our
clients have similar experiences when it come to mortgages. Except many of them
do the reverse. They think of it as a negative thing and then feel good about it
when it's over. With all the negative publicity in the media, they come to us
thinking they are in for a battle. They think we are going to rip them off, and
that we are only interested in their money. They get defensive when we ask about
assets, and many times aren't truthful.
But afterwards, they see that we are not the
monsters the media makes us out to be. We don't charge junk fees, or use bait
and switch tactics. And we really do care about their well being.
So how do we get them to change their attitude
before the transaction?
I got the answer at the retreat as well. Before
we started, they gave out a pre-evalutation. We were asked what we expected to
learn and what we expected to get out of the program.
We can do the same thing. A pre-application
evaluation.
Ask potential clients what they expect from you
and what they want. Get them to list 4-5 items, or make a questionnaire and ask
them to rate items in terms of importance to them. Then give them proof of how
you excel at the areas they listed.
For example, let's say they said they wanted to
choose from a variety of loan options. You could show them a listing of all the
lenders you deal with, and a list of all the loan programs each lender provides.
That demonstration shows that they can choose from amongst thousands of loan
programs by working with you. Of course, most of the loan programs will not be
appropriate for what they want to do, but just showing them what you have will
put them at ease.
Or, say they said they wanted to understand the
loan process and not just be told what to do. In that case, you could give them
some reading material, let them borrow a book, give them a list of websites, or
invite them to a seminar you put on.
Do something that will address their concern,
and show them that you care. This will not only put them at ease, but make them
easier to deal with throughout the loan process, increase the number of
referrals they send you, and make you stand out from the competition. Ameen Kamadia, "The Millionaire Loan
Officer" is a mortgage consultant, coach and trainer. For dozens of free
articles on mortgage marketing and cheap marketing ideas visit:
http://www.mortgagebrokertraining.com/mortgagemagic.htm
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