If all the mortgage industry economists are correct (and let's face it, their track record over the past few years is not good) 2012 is expected to have fewer loan origination opportunities than 2011. So any source of sales advice can be seen as a helping hand.
While the guidance provided is generic sales advice, the provider has a strong industry background. Daniel Milstein is chief executive of Gold Star Mortgage Financial Group, Ann Arbor, Mich. Most recently, he authored "The ABC of Sales." And his motto, "Always Be Closing" is reflected in the title of the book.
His first piece of advice is for sales people not to leave home without their passion for what they do.
"Wake up each morning excited about selling. There are several motivating factors that inspire people to have a passion for sales: the challenge, pride in doing a good job, being recognized in a group of top sales professionals, and of course, the salary/commission. However, ultimately you simply must enjoy the process of selling a product or service," Milstein said.
Next is being a cheerleader for your service. "You have to believe in what you're selling. My clients see my enthusiasm and know that I truly believe in the service I'm providing. As a salesman, you must believe in your product, otherwise clients will 'see through you' and not buy." He goes on to says if you don't believe in the benefits of what you're selling you might need to move on to another area.
Third, make it about your customer. Milstein said nothing more important than taking care of your customers. "It can take years to build trust with a customer, but only seconds to break it. It is nearly impossible to overcome a negative impression. So do everything possible to make your customers consider working with you as being one of the best decisions they ever made."
Having a formal plan, which outlines target audiences, goals, strategies and measurement techniques, is important. Plus, given the more volatile marketing environment, he said, "you have to be more nimble, able to continually adapt your plan to meet new opportunities and obstacles. You also need to plan for contingencies; a disaster preparedness plan is essential. Look beyond next month's or next year's income and determine the best route to long-term success during both good and bad market conditions."
Milstein said sales people need to look beyond "their backyards—their designated market. Once you have conquered your town, move on to the next town, then the entire county and—when you're ready—the next state. Look for niche opportunities, such as seniors, immigrants, teachers, military personnel. Take advantage of social media such as Facebook, LinkedIn and Twitter."
He points out that selling isn't a "9 to 5 job" but one where the sales person might need to be available 24/7/365.
"High accessibility is the key component of business relationships. Being available to clients in the evening and on weekends shows your utmost commitment. Demonstrate your accessibility by providing your e-mail address or 'after hours' cell number so that a customer can contact you with a question and know they'll receive a prompt response," he said.
Finally, Milstein said you must market yourself creatively, and word of mouth marketing is not enough. It is too competitive out there. So you need to create a personal marketing program.
"You must let the world know that you exist and that you are different and better than the competition. When the market gets a little sluggish, don't stop marketing. Your competitors believe that somehow reducing their visibility is a good idea. It isn't," he said.
