Are you wondering how to improve your phone sales skills? Read here for a guide to phone sales skills for mortgage loan officers.
Don't go cold on cold calls! 23.3 million Americans filed for a home loan in 2021. That's more than 5% of the country.
Many loan applications began with a cold call from a loan officer. Yet there is never any guarantee that your calls will work. If you want to be a successful salesperson, you need to hone your sales skills over the phone.
What technology can you use for effective cold calling? How should you prepare for your phone calls? What should you say during your conversations?
Answer these questions and you can make thousands of dollars off of cold calls in no time. Here is your quick guide.
Use an Autodialer
An autodialer is a tool that lets you dial phone numbers from a pre-determined list. You can upload a list of phone numbers of high-quality clients, then go through them one by one.
Try to find a dialer with advanced features. When a customer is not available, the dialer can send a pre-recorded message to their voicemail. If a customer wants to speak to your manager or another sales representative, you can have a function that routes your call to them.
One of the Autodialers that we found that made our jobs easier was Intercloud9, click here to check out their features.
Make sure you can view the client's address on your screen or phone. You can then search for their address to get information about their property and find the right mortgage loan for them.
Write a Script
A script lets you control the conversation and give accurate information about different types of mortgages. Keep the script short, as speaking for too long can alienate the client. You do not have to write full sentences, but give yourself enough details so you can speak clearly.
Keep in mind that you are encountering clients who have unique needs and are at different places in the buying journey. Some people may be interested in learning about their mortgage options and need more time to make a purchase. You may need to write a few scripts so you can appeal to all people.
Though you should write a script and follow its outline, you should not be confined to it. Feel free to make improvisations based on the information you learn about your client. If a client interrupts you, respond to what they are saying instead of returning to the script.
Practice reading the script out loud a few times so you sound natural while speaking. If you still find it awkward or robotic to use a script, write bullet points for yourself and use those.
Schedule Your Calls
Many people feel awkward before or during cold calls. They may be afraid of being rejected, or they may feel weird talking to people they don't know. Being hesitant can make it hard for you to sound confident or eager over the phone.
One way to make yourself more relaxed is to schedule your calls. You can pick a time during the day when you are energetic and when you can focus on your conversations. You can also pick a time when your clients are most likely to pick up the phone, like after work hours.
Give yourself a little time before you start making calls to review your script. Make edits so your remarks are clearer.
Take Control
Many loan officers lose sales because they fail to take control of the conversations. At the start of your conversation, do not ask the client, "Do you have a minute to talk?" Most people will say no, and you will have to bring the chat to a close.
Once you've ascertained that the person you are calling for is the person you are speaking to, get started on your script. Speak in a confident yet easygoing tone. If you sound uncertain or choppy, the client may reclaim control and interrupt you.
Speak at a moderate pace. If you speak too slowly, you will sound uncertain, and the client may hang up. If you speak too quickly, the client may not understand what you are talking about.
Elicit clear responses from your client. When you ask them if they want a mortgage loan, try to get a yes or no answer. "I don't know" or "I need more information" make it hard for you to close a deal.
If your client wants to speak with you again, arrange a time for both of you. Get their contact information so you can follow up with them, then send them an email or a postcard.
Ask Open-Ended Questions
A way to take control without being too aggressive is to ask open-ended questions. You want to give your lead an opportunity to talk about issues they care about. The questions give you opportunities to seem like a good listener, encouraging your lead to think positively of you.
"What is your top financial priority at this moment?" is a good question to ask. Some people are worried about real estate while others are worried about paying off their debts or building their savings. You can build off of your lead's answer and show them why mortgage loans are beneficial.
If your lead seems uncertain, ask them, "What information do you need to make your decision about mortgages?" Being direct can help you get to the root of their confusion and seal your deal.
Develop Your Sales Skills
You can improve your sales skills through a few simple steps. Download an autodialer and use a search tool to examine the mortgage data of your leads. Write a script that gives your lead accurate information about your services.
Seize control of the conversation right away so your lead doesn't have an opportunity to hang up the phone. Ask them questions so they speak about concerns you can resolve and feel like you respect them.
Don't wait to get the details you need to sell your loans. Smart Lender gives you high-quality mortgage sales data. Contact us today.
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