Sales Training >> Home Mortgage
The home mortgage industry has skyrocketed in recent years, thanks largely to the
surging consumer demand for home loans and refinancing, as well as new
products/services offered to the sub-prime market. The growth of retail lending
has created vast opportunities for industry leaders to expand their sales forces.
And while production has remained high, opportunities to increase conversion and
retention rates have been largely ignored.
Home mortgage specialists have proven to be some of the most determined and
passionate sales executives worldwide. However, the intensity and
competitiveness of their work environment have neglected the core skills that lift
mortgage specialists from “good” to “great.”
Mortgage specialists may listen to a prospective customer’s financial situation,
and then help prioritize specific goals and choices. But they never hear the
customer’s direct and honest reactions. Yes, there always going to be customers
on the fringes – the easy sales and those who refuse to consider anything said. It’
s everyone else in the middle, however, that matters most. The customers willing
to consider a new mortgage lender, but are not yet convinced, need to interact with
specialists who command an advanced set of communication skills.
In most cases, homeowners are overwhelmed, and therefore confused, by the vast
number of borrowing options. Yet, their puzzlement quickly converts to silence and
then to disinterest if a mortgage specialist cannot empathize with their personal
situation. Everything must be relayed in the customer’s terms, not the industry
jargon of mortgage lenders. Home-equity financing, Purchase & Renovate loans
and reverse mortgages are viewed as options to mortgage executives, but they are
life decisions to your customers.
That’s why mortgage lenders must understand exactly what their customers are
thinking during the consultation process – which messages work/fail and why, how
to empathize with a customer’s situation, and how to retool in a way that
customers feel their needs are fully met.
Yes, the most successful mortgage lenders are those who anticipate lending
trends, prepare with the necessary infrastructure and then deliver those new
services (i.e. loan types) or mediums (i.e. Internet applications) as the “first to
market.” But in order to maintain long-term strength in the industry, mortgage
lenders must also invest in its people, training them in both product knowledge
AND communications/messaging.
Mortgage specialists must be proficient in telling a compelling story and
understanding the stories of their customers.
The home mortgage industry has skyrocketed in recent years, thanks largely to the
surging consumer demand for home loans and refinancing, as well as new
products/services offered to the sub-prime market. The growth of retail lending
has created vast opportunities for industry leaders to expand their sales forces.
And while production has remained high, opportunities to increase conversion and
retention rates have been largely ignored.
Home mortgage specialists have proven to be some of the most determined and
passionate sales executives worldwide. However, the intensity and
competitiveness of their work environment have neglected the core skills that lift
mortgage specialists from “good” to “great.”
Mortgage specialists may listen to a prospective customer’s financial situation,
and then help prioritize specific goals and choices. But they never hear the
customer’s direct and honest reactions. Yes, there always going to be customers
on the fringes – the easy sales and those who refuse to consider anything said. It’
s everyone else in the middle, however, that matters most. The customers willing
to consider a new mortgage lender, but are not yet convinced, need to interact with
specialists who command an advanced set of communication skills.
In most cases, homeowners are overwhelmed, and therefore confused, by the vast
number of borrowing options. Yet, their puzzlement quickly converts to silence and
then to disinterest if a mortgage specialist cannot empathize with their personal
situation. Everything must be relayed in the customer’s terms, not the industry
jargon of mortgage lenders. Home-equity financing, Purchase & Renovate loans
and reverse mortgages are viewed as options to mortgage executives, but they are
life decisions to your customers.
That’s why mortgage lenders must understand exactly what their customers are
thinking during the consultation process – which messages work/fail and why, how
to empathize with a customer’s situation, and how to retool in a way that
customers feel their needs are fully met.
Yes, the most successful mortgage lenders are those who anticipate lending
trends, prepare with the necessary infrastructure and then deliver those new
services (i.e. loan types) or mediums (i.e. Internet applications) as the “first to
market.” But in order to maintain long-term strength in the industry, mortgage
lenders must also invest in its people, training them in both product knowledge
AND communications/messaging.
Mortgage specialists must be proficient in telling a compelling story and
understanding the stories of their customers.
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Home Mortgage