In our past few articles, we have been discussing the one sentence that will generate more clients for you. Here’s the sentence: People will do anything for those who encourage their dreams, justify their failures, allay their fears, confirm their suspicions and help them throw rocks at their enemies.
As promised we are going to dissect this sentence and I will show you how to use it in your marketing. While Sue and I deal with reverse mortgages exclusively, the tactics I share will help you with any product you offer.
So far we spoke about encouraging their dreams, justifying their failures and allaying their fears, now let’s turn our attention to confirming their suspicions.
News flash! As an industry we do not enjoy a great reputation. I actually saw a statistic that showed originators lower in trust value than used car sales people who were near the bottom of the list in terms of who the public trusts.
Let’s not even get into the conversation of the why’s and solutions here. Suffice it to say that they don’t trust us. So we need to acknowledge that fact and deal with it.
One of the best ways I have found to do just that involves a few components. First let’s guarantee their suspicions. Then let’s show them we are reputable. Finally let’s bring their suspicions out in the open and acknowledge them. These suspicions include:
• They suspect the actual closing costs will be different than what you told them.
• They suspect the program may not be right for them.
• They suspect you might change the rate on them at the last minute.
• They suspect that you may only be looking for a commission and not have their best interest at heart.
One of the easy ways to deal with this in the reverse mortgage arena is to advise them of the three-day right of recession period they have. Encourage them to have their financial advisors review everything. Why? You may not be “trusted” yet but they do trust their financial advisors. But the best reason is that it shows your willingness to ensure they are getting the correct program.
Think about that—you now have a new potential referral partner you are being introduced to. Doesn’t get better than that.
What about the closing cost estimate? You should know what the closing costs are so there really is no reason for your GFE to be off anyway. Go over all forms and answer their questions fully. Be fluent when discussing the TALC and the amortization schedule. They can be great sales tools.
You might even want to go as far as to put your guarantees writing as a certificate. Let them know you are reputable.
One easy way to do this is to put the association logos you belong to on all of your marketing materials on-line and off-line including business cards. We belong to NRMLA, have a BBB A+ rating and Sue has many senior related designations and distinctions. Let them know that.
Another way to let them know you are reputable is to produce testimonials showing your honesty and integrity. Add those testimonials to all of your marketing pieces.
Lastly, become seen as the obvious expert in your area. Sue and I have been on TV, have a weekly radio spot, and write for local senior publications. In short we have become celebrities in our local market.
Now that you have read this go ahead and implement it. You will quickly see the major positive impact it has on your income and closings. Instead of hiding from the elephant in the room, acknowledge him.
Brian Sacks and Sue Haviland are the co-founders of Reverse Mortgage Success. They have been in the industry for over 25 years and have closed over 5,000 transactions. Sue and Brian originate reverse mortgages each and every day and share their real world experiences with you at
