What makes best mortgage lenders stand out? Is it charisma? Dedication? Enthusiasm? Well, all of those attributes help. However, we believe that there are some things that top mortgage lenders know that makes them sell significantly more than their peers:
- You Have to Ask for the Sale/Referral. Here’s a shocking statistic for you. While 91% of consumers say that they would be willing to make referrals, only 11% of salespeople ask for them. Worse still, 62% of salespeople fail to ask for the sale after making a sales presentation. Best mortgage lenders know that asking for the sale is crucial, and they don’t just stop there—they also request referrals from their clients.
- Metrics Are Important. Another thing that sets the top 2% of salespeople apart is that they spend time each month reviewing performance metrics. Sales have become more of a science over the years, and today mortgage lenders have software that can accurately gauge where leads are in the pipeline, how many people clicked on the refinancing link in their last email newsletter, and how sales are faring compared to the same time a year ago. By analyzing this data, top salespeople can hone their performance so they invest their time on those prospects and activities that are the most profitable.
- Tenacity is Crucial. According to research, 8% of salespeople get 80% of sales. Think about that. That’s an astounding statistic. The reason for their success? Follow-up. It takes at least 5 follow-up efforts after the initial contact to turn a “no” into a “yes,” and yet 44% of salespeople give up after just 1 no! Best mortgage lenders know that it takes multiple sales touches to turn a lead into a client, and they behave accordingly by following up with prospects several times before moving on to greener pastures.