Getting potential borrowers from a maybe to a yes

In some cases, the hardest part of the sales process is to get the customer sitting in your office to convert from a potential customer to an actual customer. However, there are some easy steps that you can take to convince a prospective client that you have the loan product that he or she needs.

Get Your Client Off of the Fence

It isn’t uncommon for borrowers to become overwhelmed with all of the loan choices that they have. Therefore, it is your job to narrow a person’s options based on what you know about that individual. For instance, someone who wants to make a smaller down payment might be best served by using an FHA loan while someone who wants to buy an $800,000 house might need a jumbo loan.

Overcome Client Objections Before a Meeting Starts

Ideally, you will anticipate the objections that a borrower might have before they can be raised. This allows you to counter them in a way that comes across as natural and objective as opposed to just another part of your sales pitch. For instance, you might talk about down payment assistance programs to a person who is hesitant about spending thousands of dollars before closing. You could also spend time talking about how paying down a credit card before applying for a loan could make it easier to get a lower interest rate. A lower interest rate could save a person thousands of dollars over the course of a mortgage’s term.

To close a deal, you have to provide so much value to a client that this person can’t justify walking away from the table without obtaining one of your loan products. This is done by constantly educating, learning about, and building a strong rapport with a customer throughout the sales process.

Have questions?  Speak to an expert for more information.