When I first started out as a loan officer, one of the things I found to be the toughest, was taking an application over the phone. I just didn't seem to have the skills, nor did I have a plan. I was literally calling people on the phone and saying something to the effect of; Hello, my name is Jay Conners, and this is what I do, and this is why I am calling, would you be interested? No wonder I wasn't having any success.
Knowing that my pathetic tag line wasn't going to cut it, I knew that I would have to change my approach.
Over time, through trial and error, and a whole lot of sales training, I was able to incorporate my own six step process for making a sales call. Keep in mind that this approach works just as well face to face as it does over the phone, and can be used in many situations, not just selling mortgages.
Follow these six simple steps, and you'll be on your way to taking more apps.
1. Be prepared
* Have a clean desk, a clean desk is proven to provide a less stressful work environment. Plus this way you won't be searching for that elusive pen. * Have everything you need at your fingertips. ie; pens, pencils, calculator, scrap paper, computer on, and of course a blank application. * Not having all of the necessities readily available, leads to having to find them, and having to find them leads to dead air, dead air can kill a conversation.
2. The personal touch
* Once you have your customer on the phone, and have introduced yourself, it is important that you relax them. Engage them in small talk about something other than a mortgage, ie; the obvious one, the weather, if a dog is barking in the background, ask about the dog, people love to talk about their pets, etc., etc. This technique gets them talking and gives the conversation a personal tone that will last throughout, and once the conversation turns to business it becomes all the more easy.
3. Make your assessment
* Ask probing questions, find out exactly what it is your customer is looking for, if they are unsure, you can help to educate them. Also, ask open-ended questions. An example of this would be; Tell me more about why you have decided to refinance your home? The tell me more part of the question forces them to go into greater detail than just a one word answer. These techniques will help you come to assessment of just what product or program best fits your customer's needs.
4. Make your pitch
*Now that you have gathered all of the appropriate information, you are ready to make your pitch. Start by saying something in the area of based on what we have discussed this evening, I think this product would best suit your needs, A challenge you may be confronted with might be, well I need to think about it. One way to meet this head on is to ask if there is any thing you did not explain clearly enough, and that you would be happy to go over everything again. Once you have an agreement and your customer is comfortable, you can then move on to step five.
5. Close the deal
* Once your customer has decided on a mortgage product, do not let them off the phone without their 100% buy in, say something to the effect of; Now that we have decided on a program, lets not waste another minute, I will go ahead and order the appraisal, title, credit report, etc. If you are discussing a purchase, ask permission to contact their realtor so that you may introduce yourself.
6. Follow up
* Step six goes without saying, but it bears repeating. The follow up is extremely important. Customers hate to be left in the dark. Every time something happens, give them a call. When their appraisal comes in, give them a call, when their title comes in, give them a call, etc. The more you keep them in the loop, the stronger the relationship becomes, and the better the chance they will refer you business.
So there you have it, the six step sales process.
I understand that every scenario is different and sometimes these six steps will not apply. But please don't be afraid to give it a shot. Make an attempt to commit the six sales steps to memory. Make it fun, give it your own name, roll play with an associate for practice, or personalize it by adding, or tweaking a few things of your own. But most of all use it to your advantage, it helped me increase my number of applications per week and I'm sure it will help you to.
Although some retail business owners are very marketing savvy, a lot of retailers don't know where to begin. Others simply don't have time to do the marketing in addition to their other responsibilities. For those business owners, I offer six simple marketing tools for brick-and-mortar retail businesses:
1) You need a website, no matter how simple. It can be a blog or something more elaborate with your business name as the domain name.
2) Advertising. When times are tight, people often stop their advertising but this is the time when you most need to advertise. If your advertising isn't working for you, try a different publication or a different market. You need to consistently reach your target market with the right message.
3) Networking. This can include membership in organizations like the Chamber of Commerce, your local downtown association, or the local chapter of a group like BNI or it can be an online network like LinkedIn or Biznik. Network with like-minded professionals and share referrals.
4) Rewarding top customers. The 80/20 rule tells us that approximately 80% of our business will come from 20% of our customers. That's why every business should have a customer referral program to reward its very best customers. If you aren't sure where to begin, consider including customers who spend over $XXX in a special monthly promotion, posting a customer of the month photo on the wall of your store, or recognizing them with a semi-annual Client Appreciation Event. Make sure your top customers feel appreciated, and they will continue to shop with you and refer their friends to your store.
5) Community involvement. Like networking, community involvement is a great way to meet other members of your local community and to spread the word about your business, even if it is only subtly. Try sponsoring a local sports team or relevant school club, volunteer at the local food bank or historical society, join the PTA or a local church organization. When feasible, volunteer your time or your services.
6) Shout your news to the world. At least 3 to 4 times a year, issue a news release (also called a press release) to let the community know what you've been up to. Anything that's newsworthy will do - a business anniversary, addition of a product line, a new professional certification, key staff hire, upcoming event, or participation in a nonprofit organization. I recommend you submit the release to your local media, relevant industry-related groups and online. You'll be surprised at how affordable it can be to get widespread coverage and to keep your name "time of mind."
Try each of these ideas to see which ones are most effective for your particular business. Then review their effectiveness every three to six months to see if tweaks or improvements can be made. To your success!
Both J & Dana Blozis are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
J has sinced written about articles on various topics from Sales and Negotiation, Finances and Insurance for Business. Jay Conners has more than seventeen years of experience in the banking and Mortgage Industry. He is the owner of , a mortgage marketing and resource. J's top article generates over 22200 views. to your Favourites.
Dana Blozis has sinced written about articles on various topics from Writing, Interview Questions and Online Marketing. Dana Blozis is the owner of Virtually Yourz, a Seattle-area marketing and PR firm catering to small businesses and nonprofits. For more free marketing tips, visit