In addition to helping people choosing the right mortgage for them and navigating them through a variety of solutions, mortgage brokers also have a sales component they have to worry about. You may be the savviest and competent broker out there, but you will suffer if you can’t actually get people through the door or close the deal. This means you’ll have to learn how to understand and listen to your clients and understand current trends and changes in the industry as well. Here are a few tips for brokers and brokerage services trying to improve their sales performance.
You won’t be able to make any changes if you don’t know where you need to improve. Feedback is the best way to know what your customers think about you and your service. This is why you should consider conducting regular mortgage surveys.
What is a mortgage survey? Well, mortgage surveys are a feedback tool that will guide your customers through each step of the process and ask them how they felt at each period, including feedback on the actual people who worked with them at each stage. This will allow you to identify possible pain points in your sales process and make adjustments. You’ll also be able to align consumer touchpoints more cohesively to get better results.
Solve Your Clients’ Problems
Everyone can apply for a mortgage with a banking institution. But the true value of a broker is their ability to match clients, often with problematic credit situations, with the right product. This is this ability to solve problems for your clients that will help you stand apart as a valuable resource. By truly going the extra mile to show and prove that you have their best interest in mind, you will not only improve your conversions but gain a solid reputation as a reliable and trustworthy broker. You need to change your optic and focus on solving problems, not hitting sales targets.
Appeal to your Clients’ Emotions
Getting a mortgage is not like buying a new fridge. This is probably the biggest investment a person or a family will make their whole lives. And one that will have a huge impact on their life quality.
Get involved in their excitement and engaged in their vision. One of the biggest skills a mortgage broker can have is being able to empathize and relate. Learn how to truly connect with your clients and understand the importance of your role in their lives. You’re becoming a partner in their future, and by understanding that, your approach will switch from simply viewing them as a commission to truly being a part of their lives.
Great Closers Move Quick
The average homeowner wants to get their loan done as quickly as possible. They just found the house of their dreams and the only thing standing in the way is the pesky mortgage application process. That’s why you have to learn how to move quickly and make the process as speedy as possible.
Improving your sales as a brokerage service or broker is always possible when you know where you need to improve. You can then move to applying concrete solutions, adapting your sales techniques, and changing your approach.