Ask the Expert: Dave Hershman goes to the phones (again)

Use calls to deepen relationships

Ask the Expert: Dave Hershman goes to the phones (again)

Part II: I read your answer to the loan officer that was told to make 30 calls. I liked your answer regarding quality vs. quantity. My problem is not making the calls. It is deciding what to say when I make the calls. What do you suggest? —Ben from Vermont

Last week we spoke about starting a deeper conversation with a real estate agent. This week we will address calls to previous customers. While it is always a good time to call a previous customer when rates are lower and they should be refinancing, this is not the conversation I will address today. The tougher conversation is when you call and don't have an offer that will help them. What should you say?

First, it is always a good time to call and get caught up with their life, even if you have not spoken in a few years. The conversation does not start with ‘do you have a referral for me?’ You should find out what is happening with them. How they like the house and the neighborhood. How their kids are doing. Again, these broader questions will get them talking.

During the conversation, there will be openings to perhaps help them in some way. If they say they would like to add to the house, you might offer to see how much equity they have. It is only after you have done this can you delve into a question such as, ‘do they know anyone who is looking purchase a home or sell the home they are in?’ Asking for referrals is important, but not the lead-in, especially if you have not spoken to them for long time. I guarantee, if you call three previous customers each day, you will get more referrals. —Dave

Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published. His website is If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at [email protected].