As published in Scotsman Guide's Residential Edition, November 2005.
We've all heard the adage "telling is not selling." We have been told to speak in benefits, not features. And we know we should not see objections as roadblocks but rather as opportunities.
We know all the don'ts. But what are the dos? And what does this mean for mortgage professionals whose products are sold correctly through a process of educating clients on loan specifics? The answer is questions.
Another familiar sales mantra is, "People don't care how much you know until they know how much you care." The way to show you care is to ask your clients what is important to them.
By identifying the most-powerful questions for prospective clients and knowing what questions to ask when objections arise, you can obtain the information to help your clients get the deal they want.
The five Ws (and how)
The most-important questions to ask prospects are the same ones we ask when telling a story: who, what, when, where, why and how.
Ask your prospects: Who is the buyer? Who will the buying decision impact? Who has to qualify for and/or approve this transaction?
Ask: What are your goals? What do you value? What is working -- and more importantly, not working -- with your current lender?
Also: What do you hope to accomplish with this transaction? What would motivate you to say yes? What would prohibit you from deciding right now? What is more important to you: price, speed or service?
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