Solving The ‘Call Reluctance’ Issue

Solving The ‘Call Reluctance’ Issue

Give what people want and you’ll get what you want

BY RALPH LOVUOLO, SR. | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL

It is not an exaggeration to say that the answer to this question has been a lifelong quest that has consumed every competent coach or trainer. It is not just in the mortgage business that this situation exists. But since this is my home, I’ll address it here.

It starts with the concept that has been postulated by every past and present motivational speaker. I heard it first from a video I saw 35- 40 years ago that had the speaker Zig Ziglar addressing a group. He spoke to me and it struck a chord; “Give people what they want, and they will give you what you want.”

I practiced it to some extent when I started as a loan officer (then known as Mortgage Solicitortake notice of the capitalizations). In the ‘70’s and ‘80’s when I visited a real estate office, it was my practice to inquire as to whether or not they had any new listings. When they said yes, I asked if they wanted me to visit the property, acting as if I was a potential buyer. The potential buyer act was if the property was occupied. If the property was vacant, I’d just ask for the key and take a ride over.

The real purpose was to see if I noticed anything that might not pass muster when the appraiser was there. Although most real estate brokers had some experience at that time, they were reluctant to tell the seller of faults they saw. For the most part they were so happy to get the listing, they hardly spent any time in looking the property over.

HOW TO MEET GREAT REALTORS

Helping real estate people make money outside of the basic reason for my wanting to do business with them was accomplished through this slight subterfuge. It was a given that doing as instructed, I would approach most real estate people and discuss my extensive knowledge. (I spent years studying and learning the basics of the rate/bond market, processing and underwriting and closing mortgages, the secondary market, the functions of the FHA and VA and every intricate detail I could learn.) Let me address some of the highlights of the entire concept of selling the most powerful thing in the world: An idea!!

As an MLO, you struggle with the oldest two questions in the mortgage industry, “Who am I supposed to see?” - and if you’re lucky enough to be directed to anyone who actually does business, the next thing you ask is “What am I supposed to say?”

The answer to the first question is almost always the same, “Go see Realtors.” The answer to the second question is, “Tell them about our service, our programs and our rates.” But these don’t help very much. In fact, they are negatives to establishing that you are knowledgeable, interested in helping people get good advice, service oriented, and serious about making what you do a career.

Think of this. The Realtors you want to do business with are struggling with all the complexities of the real estate transaction. They are trying to find clients who they can convince to list their house with them. They are trying to find people who want to buy a house. What I’ve always believed is that you, the MLO, have an obligation to speak with the Realtor/salesperson with a voice of encouragement and to help them think of ways to market their services. Remember, all of your competition has been told the answers above. But this will lead you to the secret I have discovered.

HELPFUL TEXTS ARE THE ANSWER

The answer is so simple, many people will pass it off as too mundane, not fancy enough, not in line with the marketing courses taught in universities. The regular, direct texting of positive and interesting content is the best way, by far. It is worlds above any other way to accomplish all of the basic goals the MLO is tasked to do.

Before you even have a conversation with a Realtor, send ideas that will be helpful. Ideas their managers are too busy to remind them of. The concepts that will change their entire prospective of their chosen craft.

Long ago, I discovered that there are three things every salesperson should do to create a long lasting, deep relationship with a referral source. They are:

1. Give away information to the referral source you are pursuing (i.e. help that person succeed),

2. Have the person you’re trying to help, understand that you will help them freely and that what you expect in return is a referral of someone that needs financing to buy a home, and,

3. Be persistent, be consistent, be actively and helpfully tenacious in your desire to be helpful.

BE INSTANTLY PRODUCTIVE

The long unanswered question is, “What is an easy way to meet the referral source when given the fact that they are consistently being harassed by MLO’s who preach the gospel of rates, points, programs, service and competition?” The answer is seriously simple: send them messages via text that remind them of ways that will help them be more productive, more focused, more direct, more excited, more interesting, more knowledgeable about marketing their business.

Texts are read more readily than emails. Texts are more difficult to skip over. Texts are harmless, but by using the texts I have for you, texts will get you noticed. And that is the crux of this concept. You are no longer someone who bothers a referral source. You are a person who helps Realtors think, and they are thinking about your ideas and you.

In a practical way, texts should be sent on the same day and at the same time every week. It is difficult for a Realtor to reject short phrases that help them to think and act proactively, both about themselves and also about their buyers and sellers.

After four weeks of texting positive ideas, the MLO is now ready to have a conversation with a Realtor. All they need to do is discuss the texts they have been sending.

The actual procedure is simple. The first text should be sent on a Friday afternoon, and it should say exactly these words: Hi----------, I’m hoping that you’ve had a great week. I just want you to know that if you need me this weekend to do a pre-qual or pre-approval, or just speak to a buyer or seller, I’ll be available. It would be great to hear from you. Thank you (Your Name and phone).

This text should be sent to everysingle Realtor you know. It doesn’tmatter if you have done businesswith them or not. Eliminate no one.Then for three consecutive weeksyou need to send them a text at thesame day and time as the first. Nowyou are probably wondering whatthe composition of the next textsshould be. Send me a request and I’llsend them to you. Four weeks afterthe first text and subsequently everyfourth week, you must repeat thefirst text. What comes in betweenis what I’ll send you if you ask viathemortgagegodfather.com.

Ralph LoVuolo creates a dailyvideo @ www.oneideaaday.com