Improving Your Sales Conversions

Today's Business & Life Tip, We're going to talk selling today, and in particular "Scripting". This is the major art form of what we do for a living and your conversion ratio, your batting average if you will, is critically important to your success.

The top loan originators in the country are the once they get the highest percentage of people to say, “Yes” in them. It's not about having, and go out, and have 40 real estate agents that refer business to you or spending inordinate amounts of money on marketing. It's about converting the opportunities that you have and the words that come out of your mouth, are very important to that equation.

The top loan originators in the country are the once they get the highest percentage of people to say, “Yes” in them. It's not about having, and go out, and have 40 real estate agents that refer business to you or spending inordinate amounts of money on marketing. It's about converting the opportunities that you have and the words that come out of your mouth, are very important to that equation.

Now, one of the things that I want you to really be thinking about is, what are the objections that you get that tripped you up? And if you can identify in any, of course, the top two objections are your rate and then your closing costs. But there are other objections as well, maybe if your a broker that your not a mortgage bank, or that the realtor works with an in-house lender and doesn’t want to take a chance in sending it out to somebody like yourself, who’s not a known quantity etc. There’s really only so many objections that you get, and the art form of selling is to know those objections and to build scripting, to counter those objections before they could ever be voiced. At the end of the day...

Let me give you an example, this is the script that I should be able to raddle off pretty easily because God knows I’d get it thousands of times in my career. I used the script for probably a decade with tremendous success and this is how I countered the subject matter of interest rate. Within the first 5 to 7 minutes of ever even having a conversation with the client. Before they can even ask me what the interest rate was. I would get out in front of that conversation by saying something along these lines…

“Though I'm not a fan of throwing out a bunch of rates, payments, closing, costs, tax deductibility, principle pre-payment strategies, things of that nature at you over the telephone. In fact, I found it to be unprofessional when people that do what I do for a living do that. Because I realize this isn’t something that you do every day and this is ultimately an incredibly important financial decision that you are about to embark upon. I mean, this is the largest amount of money that you’ll ever borrow and what I want to do is, rather than make that mistake of confusing you and being presumptive about things. I want to do a little bit of homework and research on your behalf, and I'm not gonna charge you anything for it. Over the course, the next 24 to 48 hours I'm going to talk to several different investors and I’m going to look at what opportunities exist for you in the marketplace. I'm going to put together a comprehensive spreadsheet for you, 3 or 4 different loan options that might be in the right spot or the right place for you. And then, I’m going to send it to you via email and when you receive it by tomorrow at 5 o’clock, please give me a call and we’ll go over it together, and we’ll talk with numbers in front of you. So, I can make sure that your well versed and that you feel knowledgeable before you make this important decision. Would that be okay with you?”

Now never to bill or marry, or anybody like that say, “no that’s not okay with me.” I mean, why would they right? I mean, this is the right way of doing business. To take some time to think about it, to put together the right deal structure for them. To put the numbers in writing, so they can be well informed and make an educated choice.

What I’ve just done, is I’ve removed for the time being the subject matter of interest rate from the equation. Which gives me an opportunity to impress them in other ways, by putting my personal brochure in front of them, by putting a very comprehensive spreadsheet together in front of them, and going over the numbers and taking the time to educate them for 20-30 minutes. To really start to de-commoditized myself, separate myself from the competition and to position myself as a trusted advisor. Somebody who’s knowledgeable that can teach them things that they never thought of before. That’s when rates start to become a non-factor.

Start doing some of these things. Think about what your getting tripped up on and then start building scripting that will counter that objection before it ever gets voiced.

Hopefully, this is helpful to you, we’ve got more coming your way...