Table of Contents. Copyright MMXVII Debbie De Grote. All rights reserved

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2 Table of Contents Welcome to the First Edition of the Excelleum Mortgage Script Book!...3 How to Practice..4 Key Communication Reminders.6 Differentiating Yourself From the Competition...10 Prospecting Sources and Prospecting Plans..11 Time Block to Prospect..12 What Do Agents Want From You?...13 Script to Prospect Realtors.14 Following Up On a Referral Lead...16 Script For Calling Leads For Agents That They Have Not Spoken To/Call Capture/Open House/Web Leads..17 Script For Calling a New Real Estate Agent..18 Questions To Ask The Agents When Meeting Face To Face To Build The Relationship..20 Script To Ask A Borrower For A Referral At The Application...22 Script To Ask For Referrals Throughout The Deal (When You Are Giving Them Good News)...23 Script To Ask Real Estate Agent For Referral To Other Agents...24 Script For Calling Past Customers/Consumers.25 Script For Calling Past Clients From Old Files of Loan Officers Who Left The Company..26 Lead Follow Up With Prospective Buyer...27 Script To Handle Incoming Borrower Inquiries.. 28 Additional Questions To Ask A New Borrower.29 Tips For Handling Objections...30 Common Objections Handled 33

3 Welcome to the First Edition of the Excelleum Mortgage Script Book! In this book, I have attempted to cover most of the common real estate scripts that you will likely need. If there is one that I have not included, me and I will create it for you and add it to the next edition of our book. Before we begin, let s take a minute to talk about why scripts are so important. You see, your words do matter! Often I will hear salespeople say, Oh, I don t need a script; I like to wing it, or I don t like canned presentations. If they would really be honest with themselves, they would discover that they do have scripts (things they often say); however, what they say may not be as powerful as it could be. v If you are looking to be more powerful and confident, and to produce consistent and predictable results, then you need scripts! v If you want to be free of worrying about what you will say next and be able to listen, focus on the customer, and put your efforts into building trust and rapport, then you need scripts! v If you want to do well, even on the days when you are not at the top of your game, then you need scripts! v If you want to be able to provide a tool that new agents joining your team can use to succeed, then you need scripts! You know, it s interesting that we often get to the point of being just good enough in our sales skills and then we stop growing and learning. If you are not selling and listing 100% of your prospects, isn t there still room to grow? Shouldn t we always be striving to be better than our competitors and to exceed our own personal best? My hope is that, as you read these scripts, you will find them easy and practical, and you will set aside minutes a day to practice them and internalize them. Once you have internalized them, keep practicing until you are flawless, and then keep practicing them as a daily warm-up. Keep them handy for easy reference. 3

4 How to Practice One of the best ways to practice is to find a practice partner(s). I suggest practicing face-to-face and over the phone. When putting your scripts to use, you will communicate with people over the phone and face-to-face, so it is a good idea to practice both. When you practice, choose a script, eliminate all other chitchat, and get to work. Make the practice sessions realistic. It s okay to hit each other with objections, but don t be ridiculously tough or it will be a negative experience. Make sure to end all role-play sessions with a win. You don t want a negative ending to be stuck in your subconscious. Continue practicing by going back and forth for the full time allotted, taking turns being the customer and the agent. Another way to practice is to read the scripts out loud over and over again by yourself. Read them faster and faster, so that when you slow down they will sound smooth and clear. Some of you will do well when you transcribe them, write them out by hand, or even type them. If you learn better by listening, then listen to the audio version of this script book over and over again. A few of my clients have shared their fun and efficient ways of practicing: 1) Practice with their kids. 2) Practice with their team each morning to fire everyone up. 3) Make a deal with their team to hit each other with objections 4) Carry the scripts with them for easy reference so they can grab extra practice when they find themselves waiting at the dentist, doctor s office, etc. 5) Record themselves reading the scripts on their smartphone, and then listen to them every time they are in the car. 6) Have the scripts blown up and posted in their office. 7) Say affirmations before their calls and in between conversations. 4

5 Prospecting equals freedom. This is my next appointment. They really need my help.. Determine what works best for you and do it daily! Someone shared this quotation with me years ago and I have always remembered it: Somewhere, someone is practicing, and when they meet you, they will beat you if you aren t practicing harder! On the next page I have outlined a few simple communication techniques to give you a head start. For more advanced techniques I encourage you to join our Speak No Evil Power Persuasion Program. Record yourself! You may be shocked to hear how you sound. I challenge you to send a copy to your coach and have them listen too! Then we will help you fine-tune your skills so that you book more appointments in fewer contacts. Good luck! ~ Debbie 5

6 Key Communication Reminders 1) Relax and be conversational. If you sound like a telemarketer, they won t like you! 2) Work to build rapport with them as quickly as possible. The fastest way to build rapport is to mirror and match their rate of speech, their tone and inflection, their speech patterns, and their body language (if you are having a face-to-face discussion). If you sound like them, you sound like a friend; if you don t, you annoy them, and subconsciously they identify you as an enemy or a stranger. 3) Key Word Backtracking: As you listen to them you will notice words they like to say a lot their favorite expressions. Sprinkle them in now and then (it makes them feel like you are talking their language). 4) Acknowledge and Approve: People love it when you are listening to them and they love it when you give them approval, although there is a difference between acknowledging and approving. When you acknowledge, you are saying, I hear you. When you approve, you are telling them that they are right. Be careful not to get stuck on one or two favorite ways to acknowledge or approve; instead mix it up so that you sound sincere. Acknowledgement Words: v Really v Tell me more v I m with you v I hear you v If I were you I would feel exactly like you do v Interesting v Oh no! v You re kidding! v Seriously? v I can appreciate that 6

7 Approval Words: v Wonderful v Perfect v Excellent v Great v Terrific v That s correct v You are right v Absolutely 5) When working with prospects and customers, it s critical to ask a lot of questions. However, we don t want to sound as though we are interrogating them. Soften your questions by sprinkling in a few question softeners as you go. You don t need to start each question with a question softener, just a few. You will want to soften the questions that may be more direct or confrontational. Why questions can be especially confrontational, so when asking a why question soften it with one of the phrases below. Questions Softeners: v I m curious v I was wondering v Please tell me v May I ask v Tell me v Here s a question A few additional techniques: 7

8 Embedded Commands: v Hire me v Choose me v Meet with me v List with me v Sign the contract Powerful Statements: v That a great question! v That s exactly why we should get together! Memory Joggers: In most of the scripts, you will be asking the client for a referral. Please remember that when they tell you that they don t know anyone, often they just aren t really giving it much thought. To help spark their memory, use memory joggers, like how about someone at work, church, the kids sports team, in your neighborhood? It s amazing that, as you jog their memory, they suddenly remember someone. 6) You cannot be powerfully persuasive when you talk fast. 7) Practice the power of pausing. When you pause, it gives them time to catch up. It allows your important thoughts to stand out and sink in. 8) A monotone voice is like a Valium. Be interesting to listen to; spark it up, it s show time! This is especially important over the phone, because only 15% of who you really are reaches through the phone. If the people in your office aren t complaining that you are too loud, you probably need to take it up a notch. 9) Practice active listening. Learn to read between the lines. Listen for their tone and the meaning behind their words. What are they really saying? Take notes. They love it when you write down what they say. 10) Never argue; even using the word but is argumentative. Instead use and yet, and, or however. Many of the scripts and objection handlers 8

9 in the industry are poorly written because they make the client wrong. If you make them wrong, they will naturally shut down and resist you. 11) Avoid weak language. Don t say if, say when. Don t say, try say, do. Don t say, possibly or maybe say, I will. 12) Do not upswing your voice at the end of your sentences. It takes away your power and makes you sound tentative and weak. Practice down swinging your voice at the end, even when you are asking a question. 13) Be an active listener and you will hear everything they say. Don t be quick to accept the no. Don t take no when yes is still possible! Simply ask one more question and then attempt to close again. Keep going take it as far as you can. Zig Ziglar always said, Timid salespeople have skinny kids! 9

10 Differentiating Yourself From The Competition One of the challenges in the mortgage industry is that customers often think that you are all alike and the only difference is the interest rate. Of course we know that there are a number of reasons why they should choose you and why you are different. Here is the challenge though, if we cannot clearly explain in a powerful and exciting way, why you, then you may lose them to someone who just offers a slightly lower rate. I would suggest that you literally make a list of all of the reasons why you are different and how you bring value. It should be concise, you should memorize it and be able to articulately verbalize it, and I would suggest that you actually hand it or send it to the client. Tell them, let them read it, and then tell them again. To get you started here are some points you may want to use to differentiate yourself. 1) Your experience 2) Company track record 3) Customer testimonials/reputation 4) Rates and programs 5) Service 6) Product knowledge 7) Other? Remember that whatever we tell a customer there mind always asks, so what? For example, I have 30 years of experience. They may be thinking, So what does that mean to me? Tell them! What is the benefit they will receive when they work with you? Idea: Create a DARE TO COMPARE a chart that shows your services compared to the average company. 10

11 Prospecting Sources and Prospecting Plans Just like in any sales business lead generation is an important part of your day. To have variety and versatility in your business you are going to want to have several sources of business vs. relying only on a few top producers. Many loan officers have found that while working with a few top producers is attractive, it s also a bit scary. Think about this, if all of your business is coming from just a few people and you lose one that s painful. If you have only a few high profile clients then they can be very demanding and when they say, jump you will feel the need to say, how high. So have a good mix. Here are some sources to consider. 1) Your high profile top producers-you will need a special plan to nurture and service them. 2) Your mid range producers-200 or so quality agents that you prospect. 3) A few new up and comers-new agents that you feel will grow into superstars. 4) Brokers- who will allow you to speak at their office meetings. Make it interesting and valuable so that they will invite you back. 5) Other vendors and industry professionals-network and discuss how you can share contacts and connections and referrals. 6) Builder relationships-you will need to have a consistent follow up plan to keep them happy. 7) Your past customers/consumers-while they may not be moving or refinancing right now, the goal is to maintain their loyalty and extract referrals. 11

12 Time Block To Prospect: *Set aside time to prospect and do your lead follow up. This should be focused and purposeful. Have your numbers ready the night before. Have your scripts posted and practice them. Set up your environment so that it supports your efforts. Don t take a no when a yes is still possible. At the end of your session enter your notes and log your next follow up call back. 12

13 What Do Agents Want From You? As a top producing and coach to hundreds of top producing agents there are some very clear things that they want from you. 1) They expect you to be responsive. Communicate your schedule so that they know when and how to reach you. If you are going to be away or unavailable have a back up plan for who can assist them in your absence. 2) They expect you to be very knowledgeable. Study the market, the stats, and the trends. Know all new products hitting the market even if your company doesn t offer them so that you can discuss them intelligently. 3) They expect you to be aggressive and proactive. 4) They expect you to be honest with them tell them the truth about timelines and issues. 5) They expect you to make them look good to the customer. 6) They expect you to be a great salesperson and to sell the customer on doing what needs to be done. 7) When there are problems they expect solutions and alternatives and want you to help them convince all parties to move forward. 8) They expect you to always be professional and courteous. 9) They expect you to keep your promises and commitments. 10) They expect you to track the customer down if necessary to move the process forward. 11) They expect you to provide ideas and partner with them to grow their business. 12) They expect you to appreciate their business and say thank you! 13) They expect you to send them referrals. 13

14 Script To Prospect Realtors Hello, this is from how are you today? Great! I know you are busy, so I will get right to the point. As you know this business is all about great connections and you are someone who I would really like to meet. Would it be possible to stop by to see you for a few minutes tomorrow between and? I am busy and already have someone I am working with. I completely understand. In fact, I expected that someone as successful as you would already have an established relationship with a lender. It never hurts though to have a back up lender in the event that your current lender is not a good match for a client does it? Also, once you see what I have to offer you may realize that I have some programs that you need that they do not offer. I am not looking to replace what they do. I am just hoping to earn the right to be your back up lender if you need one. It will only take a few minutes and I will be sure to bring you some helpful information to make the meeting worthwhile. Would you have about 10 minutes tomorrow at X? No I am not interested in meeting. You know, if I were you I would feel exactly like you do and again that is exactly why I am willing to work hard to earn your business. After spending just 10 minutes with me I am confident that you will feel that it was time well spent. I will be sure to leave you with something of value. What day would work for you? Call me next week. 14

15 I can do that and yet I will be in your area tomorrow. Would it be okay if I just stop and say hello so that you can put a face with the voice? I won t keep you. No I m too busy. I am sure you are busy so speaking of that are there any buyer leads on your desk that you have not had the time to call? I would be happy to call them for you. Are there any other rate or program questions that I can answer before I let you go? No., just one last thing. I am sure that you are often prospected by vendors wanting your business. I want to show you that I am different. May I call you each week and share with you a money making idea or cutting edge program that may be helpful? Then if it helps you create a deal would you at least consider allowing me to do that loan for you? Terrific. I will touch base with you next week. Thank you so much for you time and I will send you my card today. (Send them a handwritten note and a Starbucks card- Theory of Reciprocity) 15

16 Hello may I speak with. Hello, this is from. Following Up On A Referral Lead The reason for my call today is that asked me to give you a call. I have worked with them/known them for many years. They mentioned that you needed financing and they thought that I would be able to help. Can you tell me a little bit about what you are looking to accomplish? Did you have any particular program in mind? Have you met with any loan officer or bank yet? What are some of the biggest concerns that you have about the process? I am sure you realize that in today s market finding the right loan is a very important decision. I have helped many, many people in your situation and I am confident that when we meet I can offer some programs and options that will be a good fit. The meeting will not take long and we can meet at my office or I can come to you. Which would you prefer? I have time tomorrow at or which would you prefer? I am not sure I am thinking of using someone else. Mr., I completely understand. Many clients feel exactly like you do until they meet with me and see just how much I have to offer and how I can simplify and streamline the process. It never hurts to explore your options does it? It will only take minutes, and whether you decide to choose me or not you will leave the meeting well informed. Would tomorrow work for you? 16

17 Script For Calling Leads For Agents That They Have Not Spoken To/Call Capture/Open House/Web Leads Hello I am looking for. Hello this is from. This is just a quick follow up call. I will only keep you for a minute. I know that you were checking information on properties that agent has listed. I work with this agent and they asked me to check in with you to be sure you received the information on the property that you needed? Also, I wanted to offer you a free pre-approval and no obligation loan consultation. I m not ready I m just getting started. You know if I were you I would feel exactly like you do. In fact, almost all homes buyers feel the same way until they realize that as boring as it might be the pre-approval is the first critical step in the home buyer process. Also, once they see what a clear advantage being pre-approved gives them in the negotiating process they are always glad they took the time to handle it up front. You see in today s real estate market some agents won t even show you the property without a pre-approval and sellers will not look at your offer without one. Also, it makes sense to know your borrowing and buying power so that you can set a shopping budget that s right for you doesn t it? Another reason for the pre-approval is that sometimes there may be items marring your credit report that you are not aware of and possibly they do not even belong to you. They can usually be easily removed; it just can take a little time. I am certain you wouldn t want to lose a home you loved because you were unaware of something impacting your credit score would you? The great news is it only takes 15 minutes or so to begin the process and to help outline your options. There is no obligation, after we review what I have to offer then you decide if you are interested. 17

18 Would you like to begin the process now or would you like to schedule another time in the next day or two to do so? 18

19 Script For Calling A New Real Estate Agent Hello, my name is from. I wanted to introduce myself and welcome you to the industry. I understand you recently joined the business correct? Good for you! You know over the years I have built great relationships with new agents who are now superstars, and I am confident that I can also be helpful to you. I am sure you realize that while it may be challenging to find a great client it can be just as challenging to close the deal. That s exactly why once the agents I work with experience the quality programs and service I have to offer they continue to use me for all of the financing needs. I know this business can be overwhelming at first and that there is a lot of new things to learn, and I can help! To show you how sincere I am about being a valuable asset to you I would like to schedule a time to meet with you and spend an hour educating you on some of the critical things you need to know about financing, and to share some tips and ideas that will be helpful in capturing and converting buyer leads. Then I will be happy to continue to touch base with you on a weekly basis to keep you well informed on rates, programs, and changes in market conditions. Also, if you have some leads right now that you are working on or some that you have not yet had time to call I can call them for you, pre-qualify them, and help sell them on moving forward and working with you. You know, many loan officers do not like to work with new agents because they feel it will take too much time and work. I have a different view. I feel that when I invest the time with you to partner with you in your business and help you grow we can establish a lasting relationship that will be mutually beneficial. My goal is to be your financing resource and to make your job easier and keep you well informed. I have a little time tomorrow or X. Which would be better for you? 19

20 Questions To Ask The Agents When Meeting Face To Face To Build The Relationship Hello, I am so excited to be here and I am confident that after our brief meeting today you will be certain that I am someone that can take great care of you and your clients and get your deals closed! You see, my goal is to partner with you in your business and to be helpful not only in helping your clients obtain loans but also to be helpful to you by sharing business building ideas and even sending referrals to you. That would be ok with you wouldn t it? Excellent. To do the best job possible for you there are just a few questions I would like to ask you if I may? Tell me, what did you do before you got into real estate? What caused you to choose it as your career? What do you love about it? What do you find to be most challenging? What is your goal for this year? How many of those will be buyer deals? Where do most of your buyer leads come from? Would it be helpful to you to have assistance following up on your buyer leads? How many people are on your team? What are a few of the most important things you need from your lender? Who are you using now? 20

21 If you could improve their service in any way what would that be? Would you consider giving me just one loan to test my service an allow me to prove how hard I am willing to work to earn your business? Are there any leads you would like me to pre-qualify today? Would it be okay if I call you each week to touch base, and when I do I will be sure to have something valuable for you. Either new product or program information or a moneymaking idea that I have picked up from my coach or one of my clients. What is the best day and time to call you? Thank you for you time today and I look forward to getting to know you better and helping you grow your business. 21

22 Script To Ask A Borrower For A Referral At The Application Mr., thank you for the opportunity to assist you with your financing needs. I want you to know that I very much appreciate your business and I will do my best to be sure you are 100% satisfied with the service. This is really a relationship business and I like to build my business by building and maintaining great relationships with customers like you. I also very much appreciate your referrals. Who do you know today who might also need my help that I should reach out to? Maybe someone at work, at church, a family member or friend? Thank you for thinking about that for me. May I ask you again in the future? Terrific and I would also appreciate it if you would keep me in mind as you talk with the people that you know. May I give you a few of my cards? 22

23 Script To Ask For Referrals Throughout The Deal (When You Are Giving Them Good News) Hello, I just wanted to call and tell you the good news (your loan has been approved or appraisal came in full value or we will be closing on time etc.). Yes I know it s great! You know what though you will be moving in soon and I will need another customer just like you. Can you think of one person today who might need my help that I should reach out to? Anyone who might have any questions about financing, looking to buy/sell or refi? You know how much I appreciate you business and your referrals please keep me in mind. 23

24 Script To Ask Real Estate Agent For Referral To Other Agents Hello, how s business? I know you are busy so I will make it quick. You know, you know a lot of people and are very well respected in your office and your industry. Your recommendation carries a lot of weight. Tell me, can you think of 3-4 agents that you can introduce me to? Someone in the office, someone you may recently have had a deal with? I appreciate you thinking about that for me, would you please keep me in mind? Also, are there any leads on your desk right now that I can assist you with? Are there possibly any upcoming financing needs that you or any of your friends or family might have? Is there anything else I can do for you today? Thank you I will talk to you next week. 24

25 Hi may I speak to. Script For Calling Past Customers/Consumers Hello this is from do you remember me? How have you been? Excellent. Today is just a quick customer service call. Do you have any questions at all about financing that I might be able to answer for you? Are there any real estate or financing plans in your future? You know I always value and appreciate your referrals. Can you think of one person today who might need my help? Someone at church, at work, friends or family? Thank you so much for thinking about that and would you please keep me in mind? If you ever were to need financing for any reason in the future do you promise to call me? Thank you for that promise! Would it be okay if I dropped a couple of business cards in the mail to you? Also, I would like to call you back from time to time just to check in and provide valuable market information. Would that be okay? Great I will talk to you in a few months or so and if you need something please call me anytime! 25

26 Script For Calling Past Clients From Old Files of Loan Officers Who Left The Company Hello, my name is from. Today is just a quick customer service call. I am sure you remember that our company assisted you in the financing of your current home. The person who assisted you is no longer with the company and your file has been assigned to my care. I just wanted to reach out today to see if there are any questions you might have? Have you refinanced the loan recently? With today s low rates many people are taking advantage of the opportunity to lock in at a low rate and lower payment. Do you have any interest in refinancing or making any real estate purchases in the near future? If you do we would like to be here for you. Is it okay if I touch base with you from time to time? Terrific. May I send you a few of my business cards? Excellent. One more question before I let you go. Can you think of anyone you know who might need our help today? Thank you for thinking about that and I look forward to talking with you again soon, please feel free to call if there is anything I can do for you. 26

27 Lead Follow Up With Prospective Buyer Hello, This is with. I was just calling to find out if you have found a home yet? No. Really? How is the house hunting going? Have you seen anything at all that you liked? When do you think you would like to be moving into your next home? What s important for you about that time frame? Are things going well with the agent you are working with? Have they explained to you what s happening in the market and why now is such a terrific time to be a buyer? If Not Pre-Approved: Wouldn t it make sense to get your pre-approval out of the way so that when the right property comes along you are ready? If Pre-Approved: Have there been any changes in your situation since we spoke last that might make it necessary to update the pre-approval? When you ultimately locate your home will you allow me to do the loan for you? Is there anything I can do at this time to be helpful to you? Do you know of anyone, friends, family or someone at work who might need my help? Thank you for speaking with me, please call if you need me and I will call you back on X. 27

28 Script To Handle Incoming Borrower Inquiries Good afternoon my name is. Your name is? Thank you so much for calling I would be happy to help you. Where would you like to begin? What questions did you have for me? What are interest rates? Today s rates are at X. However the market changes constantly. Tell me are you looking to refinance or purchase a property? Have you spoken to other lenders or are we your first call? I m curious have you used our services in the past/how did you hear about us? Tell me what you were looking to accomplish (size of loan, payment, terms etc.). Do you have any credit issues that you might need some assistance with to resolve? When you last checked do you know what your FICO score was? How long ago was that? What are some of your biggest concerns about this process? To begin the pre-approval process will only take about 15 minutes. Would you like to do that over the phone now or would you prefer to come into the office? Would today at work or would tomorrow be better? 28

29 Additional Questions To Ask A New Borrower 1) Do you have any credit issues that you may need assistance with 2) Do you have a particular program in mind? 3) What payment amount are you looking to maintain? 4) Are you currently self-employed, or salary or hourly? 5) How long have you been with your current employer? 6) Do you own or rent? 7) How much is your payment? 8) Will you be selling this property? 9) Do you already have an agent assisting you? 10) Who are they/contact info? 11) Will anyone else be co-signing on the loan? 12) Do you have any other bonuses, commissions, overtime or investment income? 13) How much cash do you have in the bank? 14) Are you speaking with any other lenders? 15) What are you looking for from the lender you choose? 16) If I can demonstrate than I can provide the program and the service you need would you commit to working with me? 29

30 Tips For Handling Objections Objections are nothing more than a question in the mind of the prospect. We have all heard them before, and yet objections still continue to strike fear into the heart of the average salesperson. While many objections are questions in the mind of the prospect, sometimes they are... the customer venting the thoughts that are on their mind....their way of making conversation....a smokescreen for a deeper objection....just looking to see if they can shake you up. Here are a few key points to consider when faced with an objection:. 1) Is it an actual objection or is it a condition? You can t eliminate a condition; it is what it is.. 2) Is it a serious objection that will potentially require some work to handle? Or is it minor?. 3) Have they mentioned it more than once? If three times or more it s likely to be a real issue.. 4) What is the underlying uncertainty or belief that is causing them to bring it up and how can you eliminate it?. 5) What is the most practical way to move them forward?. 6) What is your attitude as you work through the objection with them? Are you calm, relaxed, and open to discussing it or are you argumentative and defensive? Remember: they have a right to ask! The more you physically flinch or scowl and verbally react, the bigger it becomes. Answer them as succinctly as possible sometimes, the more you say, the more objections or concerns you raise. Don t talk so much! 30

31 When Handling Objections Follow This Pattern:. 1) When given an objection take a breath, tell yourself to relax, and allow a pause to show them that you are listening rather than just waiting to talk.. 2) Work hard to maintain good rapport with the customer; mirror and match their rate of speech and body language.. 3) Repeat back a bit of what they said to show that you were listening and to verify that you understood their objection. Give them acknowledgment and approval.. 4) Ask a clarifying question to be sure that you truly understand exactly what they are asking, or what they are really objecting to, before you jump to answer. You may even need to go 3-5 questions deep to really get to the heart of the true objection. In fact, ask a lot of questions. When you ask questions, it will tell them what direction to take, it will tell you how motivated they are, it will help you get to the truth, and it will help them self-realize that they really do need help. People don t move forward unless there is some pain involved in staying where they are. The more you can get them to open up to you, the better chance you have of dialing up their pain.. 5) Isolate the objection to be sure that it s the only thing in the way.. 6) Handle or eliminate the objection.. 7) Close.. 8) Repeat the pattern as needed. For those of you who have studied NLP, you may be familiar with a valuable technique called pacing and leading. It actually sounds more complicated than it is. When you want to lead someone in the direction you know they need to go to achieve the goal they have set, you have to establish good rapport with them first. In addition to mirroring and matching their rate of speech and body language, you can establish rapport by saying: I completely understand why you are asking. If I were you, I would feel just like you do. 31

32 Then you pace, pace, pace. Think of it as though you have met them where they are, and now you are going to step, step, step them away from the objection. Simply make three statements that are undeniably true, and that they are going to agree to without any resistance, whether verbally or nonverbally. Then you will make the leading statement. Remember, your goal is to set the appointment. You don t have to handle every objection on the phone, except those you need to handle to get in front on them! Don t make them wrong and don t argue it s not a Ping-Pong match. They are just people; they are not the enemy. They are often fearful and uncertain, and maybe have even had a bad experience in the past. Just go into the conversation with the same approach you would use if they were a friend or family member. Show genuine interest and empathy. Be a real person the more you sound like a professional telemarketer, the less they will like you! When my daughters were little, I remember this little book they had. In the story, there was a man sitting on a park bench, and the sun and the wind were having an argument about who could get the man s coat off more quickly. The wind went first and it blew and blew and blew, and the man clutched his coat even tighter. Then it was the sun s turn, and all it did was shine warmly on the man and he took it off voluntarily. I think of this story often when I am in situations where persuasion is needed to move a customer forward. Don t force it and don t be pushy just be kind and persuasive. And keep studying, practicing, and doing more to master it. Let us help you. 32

33 Objection: I want a lower rate. Common Objections Handled Answer: I understand if I were you I would feel exactly the same way that you do. I wonder if you are aware that many companies quote or advertise lower rates than are truly available only to get you in the door? Once they have your application in process they inform you that rates have gone up. I don t work that way. I respect you enough to tell you the truth about where the market is at so that you can make an informed decision. Our rates may not be the cheapest and yet they are very competitive and when you look at the overall program, costs to obtain the loan, and the reliability and service you will see that we clearly are the wise choice. Objection: What kind of kickbacks will you give me? Answer: You know, professionals like myself don t do kickbacks and other gimmicks. Instead, I prefer to give you the best program and service at a highly competitive rate and to be sure your loan actually closes at the rate you were promised. That s what s most important isn t it? Objection: But the other loan officers said that they would give me kickbacks. Answer: I am not surprised. There are some out there who will and when you look at their track record you will most likely find that they do not have the experience or high quality products that I can offer you. Objection: I thought I should use my bank/loan officer I used last time. Answer: If I were you I would probably have that same thought, and yet when you think about it when you are committing to a 30-year loan it makes sense to get the best loan possible doesn t it? It s completely normal that you decided to come to me for a second opinion. Many people do and when they see what I can do for them they choose me. My rates are more competitive and will save you thousands of dollars over the life of the loan. Loyalty is important, and yet I know this is a huge financial commitment and you have to do what s right for your family, don t you? 33

34 Let s do the right thing and move forward with the application today. Objection: I still need to shop around. Answer: Mr. Customer can you tell me what are you looking for that you feel I have not offered you? A lower rate. I understand than obtaining the lowest rate is important and yet if I can show you that our rates are competitive when compared to other reputable lenders wouldn t it make sense to move forward with the application today knowing that I can get the loan done for you vs. some company that may promise you the world and then not perform? Objection: I need to think about it. Answer: Tell me specifically what are you thinking about maybe I can help? (If they won t tell you dig) Are you comfortable and confident that I can get the loan done for you? Do you feel comfortable with the company? Is the program we discussed today acceptable? Financially are we in the range that you were looking to be in? Are you still interested in moving forward with the purchase/refi? What is the one thing that is stopping us today that if I can help you with it we can commit to working together? Objection: I don t have time to meet with you can you just me some quotes? Answer: I can do that, and yet I find that for something this important and complex it normally saves a lot of time and headache for you if we spend just a few minutes face to face. I know that once we meet you will have all of the answers to your questions and you will be glad that we got together. 34

35 Plus it gives you a chance to meet me and then you can decide if you feel comfortable allowing me to assist you. The meeting will only take a few minutes and you will leave with some quality information answers to your questions and a free pre-qualification letter. I would be happy to come to you tell me would tomorrow or X be better? 35