Secret #5: They are specialists, not generalists.
Almost all Superstar mortgage professionals are very good at one thing. They become the best of the best at that one thing. They eat, drink and sleep that one thing. There is no one in the world better at doing that one thing. They can do that one thing with two hands tied behind their back. They are the Expert on top of the mountain… at that one thing.
Now, what are the benefits of becoming a specialist or an expert at that one thing?
1. When people think of that one thing, your name immediately comes to their mind. That’s positioning.
2. When anyone needs advice or services in that one thing, they automatically call you. In other words, prospects come to you.
3. Clients are willing to pay more for your services because they know you specialize in solving their unique problem.
4. Ultimately, you become the envy of your peers with an extraordinary level of freedom and prosperity, as long as you stay on top of your game.
As compelling as these advantages are, I often hear objections from mortgage professionals who fall prey to the misconception that if they narrow down their marketing focus, they'll miss out on opportunities they would have had if they marketed to a wider range of clients. Can you relate? Well, I’m here to tell you that’s simply not true. The narrower your marketing focus, the more relevant and attractive your marketing message becomes to your intended audience. Instead of being a vague generality, you become a meaningful specific, making your job of marketing and selling infinitely easier.
You see, people perceive their problems as being unique to them as individuals. Therefore, they want an expert who specializes in fixing that particular type of problem. For example, if you had heart condition, would you want a General Practitioner doing surgery on you? Of course not! You would want a heart specialist who has done that particular surgery hundreds of times.
Another objection to specializing that I often hear from mortgage professionals is that they don’t have the requisite knowledge to be a specialist. Even people who have been in the business for years still feel inadequate and under-qualified. That's because being an expert or a specialist is more about mindset than it is experience. In other words, you have to see yourself as an expert before you'll ever become one!
The truth is, all you really need to do is start promoting yourself as a specialist and then learn as you go. Fake it till you make it! Read all of the lender product information that applies to that area of specialization. Discover all the nuances and special distinctions necessary to successfully solve that unique problem. Survey that specific niche market and learn what their challenges, worries, fears and problems are. Customize your marketing message to position yourself as the expert at solving those specific problems. You want to become the expert problem solver. I guarantee you, if you study that specialty every day for the next 6 months, you’ll know more than 99% of your competitors.
For example, you could launch a niche marketing campaign that targets one of the following target markets: First time buyers, commercial, jumbo loans, business for self, debt consolidation, Asian buyers, real estate investors, homeowners over 55 (reverse mortgage), etc. Or you could specialize in working with a specific "gateway niche" like Realtors, financial planners, divorce attorneys or For Sale By Owners. Choose a specialty that fits your unique personality and leverages your strengths, gifts and talents. Then go narrow, deep and rich in your niche!
Remember, build stability through diversification -- don't stop at one niche! Once you've dominated one niche, rinse, wash and repeat with new niche marketing campaigns. The sky is the limit.
In next month's 6th secret, you'll learn how you can double the size of your commission checks, have people virtually begging for your services and be perceived as the ONLY logical solution available. Stay tuned...¨