We need a mortgage broker not a solicitor

Posted by  on Apr 16, 2009
For any mortgage broker or loan officer working with, or considering working with, leads from a mortgage lead company have another thing coming. But there are ways to get more deals. There are some helpful tips out there available for any mortgage broker that is looking for more leads.

First off, in the event that an answering machine comes up, it is important to leave an informative message with the details about mortgage rate, interest rates, and products that might be of interest. Meanwhile, it is equally important to make the message brief and to the point. The main point is to leave the customer hanging. This will urge them to call back. At that time, it is possible to go into more detail. Mortgages are of big importance, but it is up to the mortgage broker to make that clear. This is key in that most mortgage lead companies will sell their business several times and your customer may already be working with another lead, and not feel the need to call you back. Leaving the short message almost always ensures a call back, if for nothing more than curiosity.

Next, no one should ever give up after one objection. Mortgage brokers after all don’t get business by relaxing. Overcoming obstacles in the sales business is imperative to success. Should a customer say they are no longer interested, interest rates are too high, or are already working with someone else, does not mean that they won’t stay for dessert.

If you acknowledge their initial rejection, but still find a way to offer a catch on their mortgage, they will almost always be willing to listen. If they see that research has been done (comparing interest rates, mortgage companies, etc), work has been put into the relationship, they have to acknowledge that.

Finally, make sure the deal closes. This means leave no possibility for another rejection. Take the application, the deal is done. Peaking their interest, getting their foot wet is only the first step. The goal is to get them in the water. Make the initial offer, show what is available to them and the mortgage, and make sure they take the application while they are there. People lose interest rather quickly, especially the ones that don’t realize the difference between mortgages. So it is important to close the deal while they are there and interested. If the temperature in the water is not right, make it right. If the porridge is too hot, add milk.

If you think about it, they got their mortgage lead from somewhere? Why not from you?


Get Mortgage Rates by Email

  • Compare mortgage rates offline
  • Get updated rates in your inbox
  • Apply for a mortgage from your email
  • We don't spam

Get Your Rates Emailed Now!

Subscribe To Lending Lowdown
Your information will never be shared
Shoprate User Survey