" We have
a variety of rates and programs depending upon your specific needs and
closing date. Right now they range from 4.6% to 9%. May I ask you a few
questions?"
Memorize those three lines
and use them for rate calls from now on.
The rule always is: Ask questions
to solve the customer's problem. "Is this a purchase or a refinance?" "When
would you like to close?" Those two are asked frequently, but they won't
tell you all you need to know.
Try these: "How long have
you shopping for a mortgage? What is the best rate you've encountered so
far? What rate did you have in mind? What's more important to you - the
rate itself, the package cost or the total value?"
Suppose they tell you that
they've been offered a rate far below anything you have? A few more questions
are in order. But before you do that, reduce their defenses by congratulating
them.
Try this: "Wow! That is a
great rate! If I were you, I'd snap it up! Can I ask you just a few more
questions, because if that rate is available I know people we can't finance
that I'd send over there."
Assuming they say, "Yes",
you ask: "What are the closing costs on that loan?" "How soon do you have
to close to get that rate?" "Did that company guarantee that rate in writing
until you close?"
Got the idea? You and I both
know that most loans are funded by the same investors, and the total package
cost is very similar.
So get the appointment first.
Then help the customer find a way to compare apples to apples, to read
the fine print, and make an intelligent decision.
Happy lending!
