I really enjoy hearing from my readers. Nothing gives me more pleasure than offering my advice on cold calling and business development. Because not everyone writes me via my column, I thought it would be helpful to post some of the recent e-mails I´ve received as well as my comments. Perhaps you´ll find solutions to your cold calling/business development problems as well. See what you think.
Michael L. writes
I’ve been reading your articles and just wanted to say I think they are great. I have been building and running call centers through out the country (Va., Charlotte NC, Milwaukee Wisconsin, Sacramento) and am currently in negotiations on starting up a center for a Finance Mortgage company in Roseville California.
I have to agree with you on the scripting article. We all know the top producers have been living by,”..script as a guide,” for years. I am a firm believer you create producers through quality training and follow up.
Keep up the great writing. If you have any tid bits on a Mortgage/Finance call center I’d like to hear them.
Thanks for reading my column and writing in. I couldn’t do this without my loyal readers so I always appreciate hearing from you. It’s funny you should mention the mortgage industry because I work with them quite frequently (I am teaching at one of the top firms in Pittsburgh, Pa at the end of the month and another here in SF at Fort Mason Center on the 29th). The mortgage industry is tricky because we’re talking about calling a person’s residence which automatically makes it more difficult. Without going into too much detail, I might suggest you…
1. Obtain as much detailed info as possible from the title company. Once again target marketing and preparedness are key to developing a successful campaign.
2. Be sure to begin by mentioning that your records indicate specific info on their last mortgage (i.e. you noticed that their last $250,000 mortgage was in 1995).This creates a certain amount of trust by showing you’ve done your homework.
3. Begin the probing process by asking if they would be “open” to refinancing at a better rate. Don’t ask if they are “interested”. Psychologically it becomes more difficult to say no to someone if they’ve asked if you’re “open” than “interested” because most people would prefer to think that they are “open” to anything.
4. Most of my mortgage clients would prefer to get the prospect´s Social security number to run a credit check) before setting up an appointment. However, a number of people feel it´s a bad idea to give someone who´s cold called them their ss# (I happen to be one of those people). I feel it´s better to get that info in person when the sales person goes out on the appointment. You´d be surprised the number of people who actually do give me their number.
5.Lastly, don´t forget to ask about their current financing. What do they like about it? Why do they want to refinance? Is it to pay off bills, get a better rate etc?
I hope these tips help you develop a campaign that works.