The Pleasures of Sharing Information

As a loan officer, it is important to keep your pipeline full at all times. For this reason, it goes without saying, that you should be taking as many applications as you can throughout the week.

Obtaining leads to be turned into applications can be obtained in a variety of ways. Such as, networking, customer referrals, family, friends, mortgage lead providers, etc.

Another method, probably the most dreaded in every sales force, but also very necessary to keep app’s coming in is cold calling.

We all know the feeling of rejection over the telephone, but it is very important to maintain your persistence and overcome these obstacles.

I completely understand that there is no way to overcome the objection of a customer hanging up on you. My only advice would be to not dwell on it, or take it personally, just move onto the next call.

Keep in mind, for a lot of people, purchasing or refinancing a home is a huge financial undertaking in a person’s life. Perhaps the biggest, so be understanding if they seem defensive or get cold feet.

I’m sure you are familiar with hearing “I’m no longer interested,” or “I just closed on my loan last week.”

For starters, don’t even give the customer the opportunity to give you an objection.

Remember, you are the expert, so you do the talking.

Your opening line should be something like this:

Hello Mrs. Jones, my name is Susie Smith and I understand that you are interested in a mortgage. I have some great products that I believe would fit your needs and budget. If you don’t mind, I would like to take just a few moments to go over them with you.

This approach immediately takes the pressure off of the customer, and nine times out of ten they will be willing to listen.

Remember, it is all in the approach and the tone of your voice, smile when you talk, it will reflect in your voice. And be nice, relax your customer, make them comfortable, and you are half way there.

Jay Conners has more than fifteen years of experience in the banking and Mortgage Industry, He is the owner of http://www.jconners.com, a mortgage resource site. You can also check out his blog at http://wwwmortgagespot.blogspot.com for more articles related to the sales and marketing of your mortgage products.

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Do we understand the advertising and how the market works? When you go to the supermarket to by shampoo, what dictates what we buy? There are over 50 different choices, which one do you buy? You don’t have time to process all the information, analyze ingredients, or figure the cost per ounce. Why do we make the decision we do.

Does it just feel right? Is it a past commercial you saw, the color combination on the bottle, the one your mother bought, the one on sale, or did you pick the one that felt right. Many times we really don’t know why we buy. For most of us we buy on emotion and figure out later (logically) why we bought it. When you ask someone why they bought a BMW, you will hear things like, top quality car, high resale value, performance. Now think about it - do you really think that is why they bought that car? We are not aware and cannot articulate why we buy.

Eighty percent of all new products or services fail within six months. Think about it. Only 2 out of 10 products make it in today’s market. We know companies spend billions of dollars on research. They talk to consumers and they like the idea and the product and say they will buy - but they don’t. In one study, consumers were shown a kitchen appliance and 60% of them said they were very likely to buy a kitchen appliance in the next three months. Here is the challenge, only 12 percent actually bought the appliance. What happened? When they were asked why they did not buy, they could not explain it. Brain has separate structures for processing logical and emotional reasoning

Even in blind taste tests people say they like A over B, but when the see the actual product their opinions change. All consumers know the store brand and the national brands are identical, (medication) however when their symptoms are severe they buy the more expensive national brand. We know when we see a product for $9.99 it is the same as $10.00, but our mind still is programmed to accept the lower price, even if it is a penny. In an interesting study, the researchers found that our companionship at a restaurant would affect how the food tasted. When the subjects ate with someone they did not like it dropped how they rated the food they ate. Months later when they dined again with someone they liked, the rated the food much better. Again, 95% of the reasons we buy involve a subconscious decision.

There are two levels of the mind. There is the conscious (logical) and the subconscious (emotional). Thoughts in your head can dictate things that happen in your body. For example, if you are afraid of snakes or spiders, one look and your body does the rest. Your body reacts to your thoughts. The bottom line is your thoughts control your emotions and your emotions control your actions. Change your thoughts and you will change the future. Just the smell of perfume can trigger emotions and then action. Emotions contribute to all our decision making. Always take into account what emotional triggers could happen during your persuasive presentation.

For additional information on The Decision Making Cycle, go to Magnetic Persuasion and kick start your success!

Conclusion

Persuasion is the missing puzzle piece that will crack the code to dramatically increase your income, improve your relationships, and help you get what you want, when you want, and win friends for life. Ask yourself how much money and income you have lost because of your inability to persuade and influence. Think about it. Sure you’ve seen some success, but think of the times you couldn’t get it done. Has there ever been a time when you did not get your point across? Were you unable to convince someone to do something? Have you reached your full potential? Are you able to motivate yourself and others to achieve more and accomplish their goals? What about your relationships? Imagine being able to overcome objections before they happen, know what your prospect is thinking and feeling, feel more confident in your ability to persuade. Professional success, personal happiness, leadership potential, and income depend on the ability to persuade, influence, and motivate others.

Kurt Mortensen’s trademark is Magnetic Persuasion; rather than convincing others, he teaches that you should attract them, just like a magnet attracts metal filings. He teaches that sales have changed and the consumer has become exponentially more skeptical and cynical within the last five years. Most persuaders are using only 2 or 3 persuasion techniques when there are actually 120 available! If you are ready to claim your success and learn what only the ultra-prosperous know, begin by going to http://www.PreWealth.com and getting my free report “10 Mistakes That Continue Costing You Thousands.” After reading my free report, go to http://www.PreWealth.com/IQ and take the free Persuasion IQ analysis to determine where you rank and what area of the sales cycle you need to improve in order to close every sale!

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If you’ve driven yourself crazy trying to figure out why so many
customers get away, relax. You can’t figure it out because…
It’s not logical. The impulse that makes people buy from one
business instead of another is no more logical than the baying
of an elk’s mating call. In fact, it works exactly the same way,
through the limbic system.

The limbic system is instinctive–older than language, faster
than thinking. It controls trust. It controls attention and
desire. And logic must stand aside until the limbic part of the
brain decides something is trustworthy. In primitive times it
was constantly alert for danger. Detecting threats spelled the
difference between life and death. That function is still
important today (although the risks are different).

So here’s how the buyer’s pattern works.

Step One - Court the limbic system Provide reasons for the
limbic mind to be interested in you. Let it get to know and like
your personality, the unique flavor of the business. Once it
decides it’s interested (or not), it hands the matter off to
logic, which waits to be called up.

Step Two - The logical mind evaluates the arguments and facts It
considers the pros and cons and arrives at its best choice.

Step Three - The mind then defers the final decision back to the
limbic mind It says Yes or No. The final decision isn’t logical,
and rational thinking plays a secondary role. Although it’s
willing to let you think it runs the show, that’s not true.

Step Four - Action The sale–if you’ve done it right; or a
missed opportunity

Step 2 is supposed to come “after” Step 1. But sales people
usually want it first. It doesn’t work that way. Most Web sites
and business ads start directly with logic, unaware of the vital
importance of the limbic system. But getting the buyer to
purchase without its blessing is a long shot.

Successful businesses make more money because they speak to the
deeper (emotional or instinctive) concerns of their specific
market. They engage their buyer’s limbic mind in a unique and
noteworthy way–a way that matters to them. The value of that
company’s products and services (which are seldom unique to
them) are secondary to making that strong limbic connection. The
ability to do so doesn’t depend on their size, bankroll, or how
long they’ve been around–but on understanding what their
customers really wants.

The Mating Call You need to send a “mating call” of attraction.
By knowing your buyer’s desires, you understand they’re looking
not just for products or services, but the good feeling that
they expect to go with them. Your ability to deliver that
feeling (in a variety of ways) is evidence of your enhanced
value to them. They buy because they want that intangible
“something” that makes you stand out from the rest.

A buyer’s limbic system decides in an instant–and doesn’t
change its mind. That part of the mind constantly scans for
either of two things–what it likes (attraction) and, equally
important, what it dislikes or fears. Anything else hardly rates
a notice (indifference)–and that includes most information. It
has already decided from the context even before the words are
heard or read.

But don’t assume the limbic mind is only alert to face to face
exchanges. Printed materials, ads, Websites, packaging,
facilities and every other component of your operation all must
face its scrutiny. It can spot the inconsistent signals you
don’t even know you’re sending. But you can make your business
limbic-friendly with no more expense or effort than you already
spend. To discover how to eliminate limbic- jarring signals,
visit my site, http://www.giantpotatoes.com

Jarring or inconsistent signals turn the limbic mind off They
may seem minor, but they cost you big time. The limbic mind
doesn’t decide by words (content) but by more subtle signals
that people send without intending to (context). And its
reaction is almost instantaneous. It can be fickle, if you don’t
continue to amuse, or if you fail to deliver. But it can also be
determinedly loyal–when the connection forged with her is
strong and personal.

By wooing the limbic system, you’ll get the attention of the
only buyer that matters. So assess your business practices and
promotional materials to ensure they acknowledge its crucial
involvement. When they’re limbic-friendly, all your other sales
efforts will yield greater returns. © Lynella Grant, 2004

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