TopOriginatorUnderground- Here's WHY- This is A BIG LESSON!
How to use the word WHY To Close More Loans and Generate More Relationships
TopOriginatorUnderground- Here's WHY- This is A BIG LESSON!
How to use the word WHY To Close More Loans and Generate More Relationships
IS IT POSSIBLE 3 LETTERS CAN CHANGE YOUR BUSINESS?
The answer is YES!!!
The 3 letters are W-H-Y!
I’m sure this seems strange so stay with me and I promise you it will be worth your time.
Many years ago in the 1950’s a man named Elmer Wheeler wrote an entire book on it.
It’s called REASON WHY MARKETING… but it doesn’t only apply to marketing. It applies to every aspect of our lives.
Let’s break it down to a few different areas of our business.
We are all usually pretty demanding and maybe even a bit manic especially when we are busy. But we always have to remember who we are speaking to and the impact what we are saying are having on them.
LET ME GIVE YOU A REAL LIFE EXAMPLE
You are busy and have 3 loans closing today and tommorow. Two of the loans are still waiting for clear to close so you are a bit edgy.
Then you get a call from a buyer referred to you who is ready to put in a contract and needs a pre-approval letter. Of course, you have 3 other calls to return and an application scheduled in an hour.
You decide to take the prequal call. They are first time buyers.
You ask about income/assets and you run credit. Everything seems fine and you tell them they are qualified for an FHA loan 30 years fixed for 250000.
You are excited - and move on to tackle the next calls on your list.
WHAT’S WRONG WITH THIS PICTURE?
There are a few things that come to mind.
Did you send them any recap of your call and a list of items to send you?
Did you tell them WHY to send you those documents — so you can write a pre-approval letter which is stronger than a prequal letter?
Did you explore the options with them and tell them WHY you recommend FHA versus any of the other products their friends/family/co workers might tell them about?
Did you tell them WHY they should use you vs an online lender or other type of lender?
Did you ask them WHY they are buying now and what their comfort levels are?
Did you ask then WHY they called you — wo referred them and who else have they spoken to?
PROBABLY NOT RIGHT?
We are all busy but you must ALWAYS tell them WHY
WHY TO USE YOU
WHY YOU RECOMMEND THAT PROGRAM
WHY THEY NEED TO SEND IN THEIR DOCS
WHY THEY SHOULD BE CAREFUL OF OTHER LENDERS
WHY !!!!!!
NOW LET”S MOVE ON TO AGENTS AND REFERRAL SOURCES
Why should an agent use you ..
HINT— it can’t be because you have great rates- everyone does
HINT - It can’t be because you give great service ( everyone does or should)
SO WHY??? YOU MUST ANSWER THIS QUESTION IN THEIR MINDS.."
What most originators do when they meet /speak to an agent or referral source?
They VOMIT on them verbally with all of the products and programs they have and how great their service is..
The agent /referral source only hears BLAH BLAH BLAH and zone you out
WIFM—what’s in it for me- they only want to know WHY !!!
LET’S FINISH WITH ACTUAL CLIENTS…
We all know how frustrating the process can be -
You need to tell what you need.. and WHY
When you need it by …. and WHY ( so you can close on time)
What they need to sign … by when … and WHY
HOMEWORK— PASTE THE WORD WHY- IN FRONT OF YOUR LAPTOP
REMEMBER — to continually ask yourself WHY and then relay that to the person you are speaking to - whether client-prospect- or agent /referral source
Would love YOUR THOUGHTS!
Dedicated To Increasing Your Production
Brian Sacks
If you know of anyone whos needs to read this feel free to share it
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