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If clients say yes, wouldn't you feel safer locking in this deal right now? If not, explain the state of the market and suggest locking it in. You also can explain the benefits of getting the process started so that by the time they finish "shopping around," you will have a real, approved deal waiting for them.
"I am happy with my current lender."
A. I appreciate that; is there anything you are not getting from your current lender that would make your life easier? If you could change anything about your current lender, what would it be?
"I don't feel comfortable doing business with someone new."
A. Would talking to some of my clients or reading testimonials help your decision? What could I do or what information could I provide that would make you certain that I will exceed your expectations and do a great job for you?
"I am not qualified or do not have the kind of business your company specializes in."
A. Do you know anyone else who could benefit from my services?
"I worked with your company before and had a bad experience."
A. What specifically went wrong? What could I do to make it better? What would you need to know to give us another opportunity? If I were to commit to seeing this through and personally guarantee our service and turnaround times, would there be anything else preventing you from moving forward right now?
After you have answered all of their knee-jerk objections, ask again, "Is there anything else that would prevent you from moving forward right now?" Once you have asked that question enough times, you will have identified clients' core needs and fears about moving forward. You are now ready to close.
The more you know
Your goal should be to get the information you need to get your clients the deals they want. The more questions you ask, the easier it is to close. The more you know about what your prospects value, need and desire, the easier it is to tailor the relationship and transaction to their exact needs.
People don't want to be sold or told; people want their needs met. They want you to eliminate their fears. People want to know that someone "gets" them, that their values are understood and that any negative experiences they had in the past will not repeat.
There is only one thing that can destroy the success of question-based selling: poor listening. All the well-planned questions in the world have no value if you do not listen.
Ask questions with the genuine intent to hear and understand clients' needs. If you really can meet their needs, say so, and get clients to commit. If you can't meet their needs, be honest and move on.
Another cliché is fitting here: "There are plenty of fish in the sea." There is a sea full of prospects who need your services. Drop your line in the water and start asking questions.
Delaina Mitchell is first vice president of national production for No Red Tape Mortgage. Founded in 1998, No Red Tape Mortgage is a national jumbo-only wholesale lender specializing in residential finance. Mitchell can be reached at email@example.com; through company headquarters in Sherman Oaks, Calif., at (800) 300-9017; or directly at
(877) 697-3970. No Red Tape Mortgage's online loan-management system, UCLOSE, is available at www.noredtape.com.
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