Enter your e-mail address and password below.


Forgot your password? New User? Register Now.
   ARTICLE   |   From Scotsman Guide Residential Edition   |   December 2005

Sales Training: 4 Myths

Move beyond the myths to position yourself as a sales expert

I believe that more than 50 percent of what people learn about sales training is wrong. This poor training contributes to our industry’s high turnover rate in the mortgage industry.

Here are some myths taught in sales training and how to move beyond them.

Myth No. 1: The secret to referrals is asking for business

Frankly, if I had to go around and ask people for business every day, I would quit as well. Some sales trainers even say that you must experience pain to be successful in sales. I say they are wrong.

Getting referrals is about being in the position to ask. When we ask for business, we are thinking about ourselves. But the sales process is not about you. It is about your customers.

The best way to position yourself to help your customers is to develop value. For example, if you are an expert who can help clients in all situations, people likely will approach you for help. Wouldn’t it be more pleasant experience than hitting them over the head?

Other ways to position yourself may include delivering a value-added newsletter every month with financial news to previous customers, rather than sending birthday cards or letters asking for referrals.

Myth No. 2: The key to selling is finding something in common with your target

When you have to search for something in common with your prospects, you are showing them two things: 1. You didn’t know enough about them before you contacted them; and 2. There is a good chance you picked the wrong prospect.

You should do business with people with whom you have something in common. The problem is that most salespeople are not taught enough about their sphere of influence. The sphere of influence is people with whom you have a relationship and others with whom you have something in common.

If brokers take advantage of the connections in their existing sphere of influence, the sphere can grow. Eventually, there may never be a reason to contact a prospect outside of the sphere.

Myth No. 3: The way to ensure successful sales is to overcome objections

This type of sales is best described as “twisting arms.” Do business with those who do not have objections. These include the people within your sphere of influence. Think about the last time you dealt with someone who did not object. How much easier was the sales process?

If you are dealing with many objections, you are targeting the wrong people. And when you target the wrong people, you are likely to fail.

Myth No. 4: Do whatever it takes to get to the close

We spend a good portion of our sales training focusing on the closing process. We even have fancy names for these “closes” — the urgency close, the alternative close, the trial close, etc.

Think about when you bought your car. Perhaps you were walking around the car lot and a salesperson used one of these closes. How did you feel? Most of us cannot get away quickly enough.

You should take the all of these closes and throw them away. If you are going to be an expert and give advice, you don’t need to use tricks. And you certainly don’t want your customers to think about that car salesperson.

Remember: The goal is positioning. This means positioning yourself not only to get the deal but also to be a long-term source of services and referrals.


Fins A Lender Post a Loan
Residential Find a Lender Commercial Find a Lender
Scotsman Guide Digital Magazine

Related Articles



© 2019 Scotsman Guide Media. All Rights Reserved.  Terms of Use  |  Privacy Policy