Georgia Mortgage FHA

I have an employee who is probably reading this. He’s a great guy with good experience and wonderful people skills. He is doing very well and in fact has been near the top performer for the last couple of months and looks like he will wear that crown this month. When he first started I had my wonders.

He wouldn’t hush.

He talked all the time and I’m sure he must have talked himself right out of a dozen opportunities or more. Which leads me to, well, us. You and I. When we receive a call we really need to make sure we are selling the prospect on “us” as the best choice but we don’t want to bore them. We also don’t want to be so short that we give a simple answer and lose the opportunity of turning that one call into a lifelong client.

Another very dear co-worker and I go way back to the beginning of the business. They were doing a loan for a very good friend of mine and that friend pulled me to the side and said, “You know I appreciate the hard work you guys are doing but I really don’t need to know what the security guard at the underwriter’s office had for breakfast.”

I got the point.

Here is a method that I have used for years and it works very well.

When the client calls I find out why they called. Then, before I give the ultimate and final answer which would at least end the phone call if not the opportunity I always ask, “How did you hear about me?” They will say, “radio” or “Google” or “a friend”. Whatever the answer I use it to segue into a very short resume about myself and my company. It takes less than 45 seconds to do the spiel and I always tell them what I’m about to do.

Like this:

Me: “Thank you for calling Novation Mortgage this is Ken. How may I help you?”
Caller: “I’d like to speak with a loan officer please.”
Me: “My name is Ken and I am the Director of Operations. All of our loan officers are currently assisting other clients. May I answer some questions for you?”
Caller: “Well, I’m interested in your non-seasoned cash out refinance on investor properties.”
Me: “Great! So you already own the property?”
Caller: “No. I was thinking about buying one with cash or hard money and refinancing after I do the rehab.”
Me: “Perfect! I’m not sure if you knew this or not but we have ‘hard money’ that really shouldn’t be called ‘hard’. Let me ask, How did you hear about us?”
Caller: “I saw your posting on Active Rain.”
Me: “Great! I’m so glad you’re a reader. Let me tell you just a few more things about us and why I believe you’ve made the best call today. We’ve been in business for 6 years in the same location with the same phone number – we’re not going anywhere, I hope! (ha ha). We specialize in real estate investor financing and when I say specialize I mean that’s what we do. Many lender dabbles or do the occassional investor loan but 85% of our business is investments and the other 15% comes from referrals from our investor friends or real estate professionals with whom we work. We’re open and honest about costs and fees and I say that to tell you that you can call around and somebody will tell you they are going to beat my price but the truth is they probably won’t and I can assure you that nobody provides a broader range of real estate investment services like continuing education, workshops, conference calls, seminars, first shot at any pre-foreclosures or REO’s, and even investor meet and greet events with our top clients to share stories and even exchange deals. Now then, have you already identified a property?”

Then I proceed with the regular course of business but I (a) found out how the caller heard about us so I know where the advertising is working and (b) made sure they knew the key points of why my company really is the best choice for them.

We sell: Company First, Self Second, Service Third

If you are an independent contractor you should combine the first two steps Company & Self but if you’re going straight for the Service you are nothing more than another floating sardine in an ocean full of hungry whales.

There are a few old sayings that have some truth in them. Of course they’ll need to be blended with some common sense so if you don’t have any of that borrow it from someone who does.

If you are talking you are selling. If they are talking they are buying.
God gave you two ears and one mouth. Never use more than 33% mouth.
In every negotiation somebody is getting sold. Are you selling or buying?

My grandfather was a minister in the early to mid 1900′s and he always said, “Stand up. Speak up. Shut up.”

Maybe that’s why I’m so sheepish today!

— admin