hey guys welcome back lesson number nine is all about sales and learning how to sell in mortgage there are seven things i'm going to show you that will make you better at sales in mortgage the first is the mindset before going into the seven lessons on how to sell the mindset is adding value when you're talking to a customer think of this customer like a customer for life how much value can i bring you today every phone call every meeting every face-to-face engagement you have to think to yourself how can i add value that's the mindset once that's your mindset we can approach tactically how to sell the first tip to being better at sales is how many calls you are going to make per day set yourself a call quota if it's a hundred calls a day how many calls can you close but you can't close who you don't talk to so the most important thing as it comes to sales and mortgage is having a goal number of calls per day next is having a goal number of yeses per day and find out your number if it's a hundred calls to get one yes then that's your number and start there before you can close a mortgage or get a borrower to apply with you you have to pick up the phone and dial them so step one a call goal step two getting a yes goal step number three nose really aren't no's no's are really not yet so walk through this process with me for a moment you make 50 calls you get one yes you got 49 no's that's not right you got 49 not yet because people have a funny way of needing you when they need you but your job as an originator is to add value so let's say you're talking to a customer and let's say this customer is eligible to buy a home and you say mr mrs customer do you want to be pre-approved to buy a home today and they say i don't want to buy a home what they're really saying is i'm not ready yet most loan officers or originators will say okay well then call me when you're ready that's a faulty approach because that no is not really a no that knows i'm not ready yet so you have to find out why they're not ready yet maybe their lease is an extra year maybe they just got laid off maybe their savings just got spent on an irs tax bill if you find out the reason why they're telling you no you will soon recognize that that knows only a not yet and it comes down to making all those phone calls to finding out the reasons why and those phone calls are exercise the more calls you make the better you're going to become at being a salesperson and the easier it is to add value and your goal on this call with mr or mrs smith who says they're not ready yet is to find out why and to see if you can add value what can i do to help you get ready maybe you're in your lease for six months maybe i can give you guidance to how to break your lease have you ever talked to your apartment complex about having that lease be broken is there a clause in your agreement where you can break the lease find out why they aren't ready and see if you can add value to that equation next it's all about number four building rapport because every phone call that you make if you make 50 phone calls and get 9 49 not ready yet then those 49 people that tell you not yet your goal is to build rapport to find out what their next move is going to be once you know why they're not ready and you find out how you add value to giving them guidance on how to get ready your job is to build a rapport and there's a million ways you can build rapport and if you think about just generally talking to a customer through the application process of a loan things are going to come up whether it's maybe they're afraid because they haven't saved enough money maybe they saw their brother or sister get into a bad investment maybe their parents have told them that they aren't ready to buy because they aren't a certain age or don't have enough cash saved maybe they just don't know all the programs available yet but your goal is to make these customers know you like you and trust you so to be a better salesperson you have to take every phone call as a chance to build rapport where you have no you have like and you have trust point number five is you are selling benefits not rates what you want to do as a salesperson is hold your breath on terms that is right hold your breath on terms the last thing that you want to talk about is the interest rate and the fees and the terms of a loan the first thing you want to identify is what is your goal why are you here what are you shopping for you're shopping for a home what kind of home how many bedrooms why now that's how you get to sell benefits because your goal is to get them to their goal and then you can talk about the terms so when i generally go through an application with a borrower i'm asking the borrower on a pre-qualification how much money do you want to put down and what payment can you afford great now what kind of house are you looking for town home condo single family home investment property well tell me why you want to buy the house tell me what area you want to buy in tell me have you seen any homes my job is to sell benefits great the reason why you're buying a home is because you're going to get a better tax benefit you're going to put money into your principle it's a long-term investment you're going to build equity in your legacy of your family it's great to be a homeowner you get to own the property and do with it what you want that's how you sell the benefit to a borrower about home ownership if it's a refinance which is someone that already owned a mortgage then the benefit is what is this savings going to do for you what is this cash out going to do for you telling the benefit of why you are going to help them get to their goal not rate in terms and fees that happens anyways let rates and terms and these naturally happen but if you want to be really good at selling mortgages then you want to be very patient at when you tell the clients the terms of the mortgage get to know them first then go over terms next because you will get them to their goals if you can understand what their goals are and then what they need from you to get their goals accomplished based on terms and conditions later so the fifth point is sell benefits over interest rates the sixth point is your delivery the tone your tone is everything when you're talking to a customer over the phone that's how most of your sales will happen all you have is your tone of voice and how you're projecting your confidence and if for some reason you aren't confident your tone will let them see that so you have to be confident you have to be excited because buying a home is very nerve-wracking for people doing a refund giving you all the personal information can be very nervous for people you have to have a positive tone you have to be excited about this if you're excited they will be too i've sold some very expensive fees in my day i've sold 40 50 60 000 in closing costs because that's what it took to get the loan done but i was excited about it i said mr mrs smith yes the costs are going to be 60 grand but you're saving 5 000 a month so in 12 months your fees are paid off and all your credit cards are paid you're going to get cash out for your home project this is a great loan for you and they say yeah that's great i believe you they believe your tone more than the words that you are saying people listen to how excited you are if you believe the deal is not good for them or you can't get the deal done they will see that so your tone and your confidence when you're on the phone is everything and lastly point number seven of being great at sales and mortgage is keeping your calls short people's attention span today is shorter than ever because there's so much to do they have kids or they have work or they have plans or they have leisure or their social media and they have jobs and they're just busy most people when you ask them how you're doing is either i'm good or i'm busy without giving it a second thought well there's not much time left in the day to really think things through and if you give people garbs and garbs and garbs of information to consume they will have to think all those things through and get back to you and sometimes they get frightened by too much information so a common mistake that loan officers or brokers make is being on the phone and blabbing to death so much so that the client forgets what they were talking about so you want to keep your call short and i know based on my own personal experience when my calls are less than 10 minutes my pull through rate is extremely more effective so my goal with my borrowers is to keep my calls short get to know them find out what their goals are honor and respect their time give them the conditions and move forward so keep your call short short calls always win let's sum up again how to be effective at sales and mortgage number one it's knowing how many calls you have to make per day this is a numbers game number two focusing on getting yeses every single day one yes per day you'll be in this game for a long time number three no's aren't really no's no's are only not yets number four buildering rapport relationship and trust is everything point number five sell benefits and don't sell rates hold your breath on the terms and conditions until you know them first point number six your tone is everything how you feel is how they're going to feel and point number seven keep your calls short at the end of this course as a bonus i'm going to give you my special secret sales scripts which will help you identify how to sell benefits of every single call so hang in there stay tuned and let's keep crushing it [Music] you