Clients like to buy from someone they can trust, someone who will look after them and give them a good service. That is universal, whether you are selling a mortgage, a television or a train ticket.
We all want to buy from someone who we have confidence in; who we believe knows what they are talking about and who gives a damn about what our needs are.
I’m sure we have all had the experience of walking into Dixons or some other electrical retailer to get information on the latest gadget that we can’t live without, only to find that the most qualified staff member in the shop hasn’t got more than a basic knowledge of the product and doesn’t really care whether it’s right for us or not.
With all sales, it is not just about the product, it’s about the service, and for a mortgage adviser this is especially the case because the ‘product’ – a mortgage – is not tangible, it is not like a flash television or a car because your client can’t see it.
You may have access to some really great mortgages, but so may the adviser down the road. The only thing that will distinguish you is the level of service and professionalism that you offer.
Actually it is much easier to make a good impression in England than in other parts of the world, especially the US, because the level of service here is so low.
Here, if you say you’re going to call your client at 4pm and then actually do it, the chances are that they will be bowled over by it, because we are so used to people promising things that they don’t deliver.
Buyers like someone that they can trust and someone who will look after them; they do not want to be told what to do, but instead like to be given advice and helped to make up their mind.
A large number of people are uncomfortable actually making decisions, so they welcome being guided to the right solution to their needs; having someone logically narrow down their choices and show them the way.
The little things count
So, how do you make that sale and actually convert that lead into business?
Mostly, it is the little things that count; the really obvious things that every adviser out there could and should be doing but few do.
Initially it is about presentation, and the old cliché that ‘you never get a second chance to make a first impression’ has never been more true than in mortgage advice. Being smart, being professional and looking the part is crucial in the first steps of winning the confidence of a potential client.
An unlikely place to start is looking at how you get on with the people you work with, not only in your immediate company but with contacts such as estate agents, surveyors and solicitors.
If you impress the people you work with first, you will win their trust and help to create a belief in you that will be carried outside of the company.
That person will then promote you and become your advocate to the people who they meet, potentially becoming a good source of leads and breaking down some of the most important initial barriers that could stand in the way of a sale.
It is always important, where-ever possible, to speak to a client before you see them, to break the ice and help make them more receptive to what you have to say when you meet them.
Because this is such an important part of the sales process, a good telephone manner is crucial. You need to be able to speak clearly, be articulate and have good people skills on the phone, building up a rapport with the client as soon as possible.
Then when you finally come face-to-face with the client they are already open to you and what you have to say to them.
Ideally you will follow up an initial phone call with an e-mail or a letter, thanking them for speaking to you and detailing the requirements of what they need to bring when they see you.
Already these small gestures will start to portray you as professional and efficient and somebody who has time for them.
First meeting
When you first meet the client, stand up and offer them a tea or coffee. Always be friendly, polite and well presented. These are little things, but they add to the overall picture and are likely to distinguish you from anyone else that the client sees.
At the end of the meeting confirm the next steps and then follow up once again with a letter or an e-mail.
Keep regular contact
From here on you need to keep in regular contact with your clients to help them with the house buying process. It doesn’t matter who they are buying the house through, you need to be taking away the worry and the hassle for them of arranging the mortgage and the protection side, even going as far as putting the offer in for them if they need you to.
These potential clients have money to spend and, as long as you have the right product for their needs, your job is to make sure that they spend it with you, not a competitor down the street.
The key to the insurance sale is to emphasise to your client how you can protect them. You must say: “My job is not just about getting you into your dream house but keeping you in the house and making sure that you are protected, no matter what may happen to you.” This way you can make sure their income and their family’s income will be protected whether they are out of work, ill or worse.
Then when everything goes through successfully and they are in the house, finish off your transaction on a positive note – send a welcome card or a bunch of flowers wishing them happiness in their new home.
It will leave a lasting positive impression. Always ask for a referral; it is one of the best ways of getting new clients. If you have gone out of your way for them and done a good job, they will be more than happy to refer you on.
The current market conditions are challenging for everybody. As house prices slow there will be fewer buyers and sellers, but those who are out there will be serious about buying or selling their house and getting a mortgage.
Therefore, successful mortgage advisers might see fewer people but should convert a higher percentage of those that they do see, so their turnover should remain the same and should not see a drop.
Thriving no matter what
Many people blame the market or the government for their own success or failure, but to be successful you have to look beyond the market conditions and do everything in your power to make the sale. Truly successful people thrive no matter what the market conditions.
The successful adviser doesn’t only look at the psychology of the people they are selling to, but also concentrates on their own attitude. It has become another cliché, but a positive mental attitude makes a huge difference between those who do well and those who go out of business.
Going into work each day knowing that you can make the sale and that you will do everything in your power to be the best or do the best you can for your clients is immensely powerful, especially at a time when many around you are downbeat and negative.
Just your attitude in these circumstances can fill those around you with confidence or have the opposite effect. If you can be positive and determined in your drive to do well, it will convey itself to your colleagues and clients, so it is more likely to be you that gets the referrals and converts the business.
During the current difficult market conditions, the strong ones will come out stronger ; the weak ones will be the ones that go to the wall and don’t survive.
Right now is the best time to prove how strong a character you really are.
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