In my last two articles I covered why how you dress matters and where you take your loan application matters. I touched on the reasons for not taking apps late at night because you are too tired and could make mistakes.
But more importantly you don't want to take applications or pre-qualifications at night because it takes away your "expert status." Here is a small excerpt if you missed that last article and the experience I just had not long ago.
Most likely you are taking their application at night - maybe even late at night or on a weekend. This doesn't do much for your "expertise" in their minds and you will often rush or make mistakes because of it.
When was the last time your attorney or accountant came to your house? In fact when is the last time your doctor came to your home. I just called my 89-year-old mother's doctor around 9 pm because she had an emergency issue. What I got was a recording that said we are closed. If this is an emergency call 911. NO JOKE!
I remember early on in my career, before I decided to be an "expert" in a niche and act like one, I went to a client's home at night. Pretty late, around 9:30 pm. After some small talk and getting the process started we got to the good faith estimate. They started telling me that even though they had decided to lock in that they looked at the paper that morning and found a better rate.
I can't print here how I felt because of the language but I came up with an idea. I told them to call that company right now and ask their fees! Of course they were closed but I was trying to make a point of how great my service was, even as far as going to their home 9:30 at night. Guess what, it didn't matter, they went with the other company to save $400.
All going to prove that what I thought was good service actually turned me into even more of a "head of lettuce" commodity in their eyes. Worse, the other company was their credit union, meaning they would have to take off work to meet them, something they told me they could never do.
SO HERE IS THE SCRIPT: What most of us say is the following: "What date and time would be most convenient for us to get together to complete the application process?"
Try this instead (and stick to it): "Our office hours (or the Realtor's office) are 8:30 to 5 Monday through Friday. What day would it be easiest for you to take off a little earlier, or go in a little later? The application should take about one hour and I want to make sure I leave some time to answer all of your questions. Here is a list of items you need to bring..."
I KNOW YOU ARE SCARED, RIGHT? First of all you won't lose any real deals! I promise. The appointments you may lose are the ones that are a waste of time anyway. Think back: The ones you went out of your way to help and work with are also the ones you wound up meeting at inconvenient times and places. In the end they never turned into deals anyway right?
Let's think about this logically for a minute. Would a person take off from work to go to court for a speeding ticket? For a dentist or doctor appointment? For their child's play or parents' day at school?
What about taking off to get their license or get their tags renewed. I could list a thousand other reasons here but the bottom line is that you are assisting them with the largest financial transaction of their lifetime!
If they aren't serious than don't waste time with them! I don't know of any employer that doesn't give their employees sick days and accrued time off!
ONE LAST THING! I haven't even spoken about on-line applications. My personal feeling is that I prefer to meet with clients one on one. I do like having a web system that allows clients to get information on-line and even fill out applications. The system I use is www.whatbrianuses.com/nm
Would you prefer to be sitting down next to me and having me share these tactics with you. You could ask for clarification, I could show you samples, you could get your questions answered, etc.
If you are doing deals in your immediate area than you should be sitting down with your client's in person and going over the options. You need to explain the process and recommend the proper options for them.
This is the fastest way to get referrals! People won't refer someone they don't know. They must like you to refer you and the quickest way to like you is to get them to know you!Brian Sacks is the CEO of
