The marketing world has lost another great as Barry Becher, one of the men behind the Ginsu knife commercials, passed away recently.
Those famous (or depending on your point of view, infamous) television ads still contain a lesson for today's mortgage marketers. The reason: they were very explicit on demonstrating the value of the product being sold.
And I am not just talking about the knife being better than a hand in chopping a tomato into pieces. They took the time to show and explain the benefits of the knife (after cutting an item you wouldn't normally use a kitchen knife to do, the blade was still sharp enough for its intended use).
Do you explain to your clients how their mortgage works? How many of you do a side-by-side comparison with your clients of the benefits (and the negatives for that matter) of different mortgage products?
And yes, there are still various flavors of vanilla out there for you to work with. Fixed rate loans have different maturities. There are a number of adjustable products available as well.
Take the time to talk to your borrowers to make sure they fully understand what they are getting. By the way, I don't think that "But wait, there's more" has been trademarked.
