Sales and selling

Friday, 20 April 2007

Mortgage Leads, Taking Applications Not Rejections

By Jay Conners

For those of you that are mortgage brokers or loan officers you know that cold calling is an essential part of the sales game.

You must also realize that no matter how good you are when it comes to sales, you will undoubtedly experience rejections and challenges over the phone.

Here are a few tips on overcoming some rejections and obtaining more loan applications.

You may be told by the customer that they need to speak with their spouse before they make a decision.

If this happens, ask the customer if their spouse is available, and if they are, ask if you may speak with them now.

If their spouse is not available, ask when they will be and if you can call back at that time.

Some customers may say to you that they are no longer interested.

This is not unusual because when people apply for mortgages on-line, they are usually motivated by emotion. What seemed to be the good thing to do last night, may not seem like a good thing to them in the morning.

So, it is up to you to make them interested again.

When you are faced with this challenge, explain to the customer that you have some products that you believe will fit their needs. Tell them that they are not committed to anything, they only need to sit back for a few minutes and listen while you go over your products.

When you are done, ask the customers permission to send out some literature along with your business card. And, if you may follow up with a phone call in a few days.

This is the beginning of building the relationship with your customer. The more informal contacts you can make with your customer the more comfortable they will become with you.

Unfortunately, not every cold call is a slam dunk, so the more prepared you are for the challenges you will face over the phone, the more successful you will be.

About the Author

Jay Conners has more than fifteen years of experience in the banking and Mortgage Industry. He is the owner of, a mortgage marketing and resource site, he is also the owner of, a mortgage lead company, specializing in real time mortgage leads. (19th April 2007)