Smart Sales Tips for Budding Mortgage Brokers

Posted Feb. 12, 2014, at 1:44 a.m.

It is beneficial for mortgage brokers to take comprehensive review of all their sale tactics in order to grow their business and to become even better in their job. Right from the beginning till the end, a little extra effort and attention in your sales process can not only improve your overall sales but also bring more deals to close more efficiently.

Simply joining a mortgage broker course might only give theoretical exposure, but for some real on ground fun, you’ll need more. So, here’s telling you smart sales tips that will come handy, when persuading customers.

1. Begin With your Leads

The mortgage brokers who work for big companies are generally given a list of top leads to work with. However, if you are working on your own, then you are required to generate a list of high-quality leads that can result into increased brokered deals and much more impressed customers.

Brokers can gain extremely valuable information about the most potential leads from the local Registry of Deeds. But you need to make sure that you do not create conflicts here, with the do not call registry entries.

2. Carry the Momentum Forward in Person

Though you can initially contact your prospective leads via phone, but remember that the chances of most successful deals increase by personal meetings. It is quite easy to sway people face-to-face as compared to telephonic conversations. Your arguments and answers hold more weight in a personal meeting and the chances are that you may end up with more closed applications. A mortgage broker training can help you hone the art of questing.

A successful mortgage broker is not known by the amount of applications that he brings in, but by the amount of applications that he manages to bring to the finish line.

3. Honesty and Openness

You need to apply all your mortgage broking skills at the negotiation table. In case you as a mortgage broker are being paid a strict commission, you should make it a point to include this information in the closing documents such that the customer gets the idea of what you are being paid.

In such situations, where brokers are upfront of their commission in the final deal, it can actually help to bring down the deal to the final closing as the client can then negotiate upon your commission to ultimately sign the final documents.

4. Keep The Focus On The Client

You as a mortgage broker might think of quickly bringing the mortgage deal to a close, such that you can move on to the next client. But you can only be successful if you remain client-focused. This means that you need to be ready and prompt to answer to the many queries of your clients and provide them with proper guidance as and when needed.

Learning to apply these tips may take some time, remember that your own experimentations and personality will be more detrimental in making your broking business a success.

Author bio –

John is a specialist Redrockbroker consultant and provides Mortgage broking training course in Australia. John’s knowledge and experience in mortgage finance has personally assisted his clients around Australia to achieve their business, financial and investment goals.

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