One of the most common concerns for new reverse mortgage originators is how to develop the proper methods for communicating with seniors. My advice is usually "relax." Oftentimes if you are a good listener, you'll be just fine. That is one of the most interesting aspects of dealing with this group of people, in my opinion. Seniors have incredible stories to tell, and when you hear about their experiences and their situations it will give you great insight about how to handle their reverse mortgage inquiries.
Try to remember that even though we tend to lump seniors into one category, seniors, they are just as individual as members of any other generation. In my initial conversation with a reverse mortgage prospect, I always ask them how they prefer to receive communication from me. This does two things - it sets the expectation that we will indeed be involved in an ongoing dialogue and it lets them select the method of communication that best suits them. They are in control. Do they prefer to speak on the phone, via e-mail (many seniors now use e-mail frequently), by fax, or by snail mail? Do they want one of their children or financial planner or attorney to receive a copy of anything being sent? By allowing them to make these decisions, you are showing that you are truly a professional in your field and you can tailor your services to their needs.
Next, be mindful of what is considered proper by many seniors. Calling at the "dinner hour" may get you nothing but a hang up. Calling too late in the evening could yield no response at all and you could even lose any chance of handing that senior's reverse mortgage. So just ask: "What is the best time to reach you? Is it acceptable for me to call you on the weekend or in the evening?" Don't make the assumption that because you and I are wrapped up in the 24/7 instant communication world, that your prospects feel the same. Depending on the reason for taking out the reverse mortgage, time may be of the essence. Or, it may not.
Next, drop all industry jargon from your conversation with seniors. They are not impressed that we know a bunch of mortgage terms, and may even resent the use of this terminology. If they cannot understand what you are saying, it may be a scam, in their mind. Practice explanations of requirements and procedures in clear concise language, and don't be afraid to pause and ask if you are being clear.
Let the senior set the pace for the reverse mortgage and you'll position yourself as someone who cares about their clients, and you'll find that you'll receive more referrals than you ever imagined.
