A client of mine recently referred some business to me in Pittsburgh, Pa. Once one of the premier mining towns in the U.S., this small big city has been reinvigorated in the last several years by the rising housing market, a growing small business community and of course the Steelers. After an initial consultation with my new client, I made my way via JetBlue Airlines (a must for people who like to watch TV. while flying; each person gets their own television screen) to the land of the Pennsylvania Dutch. This of course was my first time in this part of the US and while I am not a fan of extreme cold weather (it hit 30 degrees while I was there and reminded me of my 20 plus years in Chicago Brrrr). I was amazed at the extreme contrast of the city. On the outskirts of the city you´ll find beautiful wooded areas, dirt roads and very little public transportation. But as you make your way into the heart of the financial district you´ll be treated by Pittsburgh´s own urban charm and small town sophistication. Suffice it to say that while I wasn´t able to check out too many of the hot spots, I am really looking forward to going back to Pittsburgh very soon (there´s talk of me returning for a refresher sometime in 2007). My workshop with Oditza Carrasco and her staff at 1st Vanguard Mortgage was held over 2 days (the first day found me arriving directly from the airport after a red-eye from the Bay Area). Below are some of the results from that workshop. See if any of these suggestions can help you fine tune your cold calling campaign. And if you ever get the chance to check out Pittsburgh, do yourself a favor and stay in the financial district as a lot of the smaller hotels are a good 45 minutes and $30.00 cab ride away(most of the things to do are in the financial district so you´ll be saving a bundle on the fair).
I need your personal action summary about techniques and ideas we learned from Tony I have received some responses already! I need 5 to 10 key ideas from everyone by the end of the day. Ie..example when cold calling doesn’t work and what would you do to change in your technique in the coming week, month, quarter,
The following is my personal action summary:
1. Think more like an entreprenuer than a loan officer.
2. Think like an entreprenuer not an employee.
3. A problem often associated with cold calling is giving too much information. I need to give just enough information to peak their interest so that the borrower can speak themselves into what they need.
4. Technique (If prospect seems uninterested) “Has something changed since you last inquired about the mortgage?”
5. Technique “Now that you qualify… would you be open to another proposal (offer)?”
6. It’s not about me but about the customer.
7. Don’t ask why not? Instead say – “Is there any particular reason?” (You will be told whether or not he/she likes it)
8. Asking the right questions is very important. for example “Is there any particular reason you want to do this later rather than now?
9. If you don’t ask the right questions you are not going to get the information you need.
10. Lead generation – gathering information for the future. for example Get information for an investment property 6 months from now. That way it isn’t a cold call 6 months from now.
11. You always want to make it sound like the borrowers idea. for example “When are you prepared to move forward with this?” NOT “Are you prepared to move forward?”
12. Never ask the prospect: “Do you have the time?”
13. Don’t ask “Are you interested? instead Find out what they are interested in.
14. Call someone back if you said you were going to call them back. (Don’t ever blow off appointments)
15. Follow up if you’ve made contact.