The holidays are now just a short time away. Many will be traveling to be with family and friends. There are parties with your neighbors and co-workers. Then of course there are the business parties you get dragged to with your spouse and significant other.
When you go to these parties you will probably run into people you haven’t met before. Then there all the people who you haven’t seen in a long time who want to catch up.
What will you tell them? After all the small talk the conversation will most likely turn to what are you doing these days?
What will you tell them? If you are like most people you will tell them you are in the mortgage business right? Then you sit back and hear all their feedback about how sorry they are for you—blah, blah, blah.
Then of course they will ask what the rates are. How’s business? Maybe they will even tell you some horror stories about how their neighbor got tossed out of their home.
But none of this helps you, does it?
You don’t need anyone to feel sorry for you. In fact, you might even be having a pretty good year. How can you turn these conversations into something positive?
See the truth is that you really are not in the mortgage business. You are not a loan officer. You are not an originator.
You are a problem solver—period!
No one wakes up and “wants” a mortgage. They have a need or a goal that can be solved with a mortgage. They either have to buy a home and need a mortgage. They need some extra cash and need a mortgage. Think about all the problems or challenges that can be solved with a reverse mortgage.
One of the big strategies Sue and I have always taught and integrated into our business is the concept of being the expert in a niche. In other words, finding that niche that piques your interest (ours happens to be the reverse) and becoming the problem solver, that is the obvious choice.
So when we are at these parties here’s what we say:
“We help seniors who own their own homes solve their financial challenges with the reverse mortgage program.”
Now that is a conversation starter. Instead of the pity party and 20 questions about rates and points, we are usually asked what we mean. Sue got so inundated with questions at a recent gathering she finally had to excuse herself from the group. Even then she got more questions after dinner.
We can then go on to discuss the program and the pros and cons. Guess what—most people will either know of a someone who is a senior and having some challenges or have a relative who would benefit from the program.
This concept is called a USP (a unique selling position) or as I call it, your elevator speech. Think of it as you being in an elevator with someone who asks you the “What do you do question” and you only have 30 seconds to answer it.
Now make up your USP or “steal” ours if you like—that’s ok—we are happy to share, and watch the new deals start rolling in! Happy Holidays and go enjoy those parties and gatherings.
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
