Today I want to teach you something about how prospective borrowers decide whether or not to do bidness with you.
BTW, what I talk about here today, is mostly learned from Words that Change Minds, by Shelle Rose Charvet. You might pick-up a copy.
Anywho, your prospective borrower has to do 2 things:
1. Gather information inn a specific sensory channel (The
Convincer Channel).
2. Then treat that information in some way (Convincer Mode).
The "gathering" function...sometimes called "due diligence," or "researching," can be done, in THEIR eyes, by simply reading about you (from material YOU provide), by visiting YOUR website, seeing a lot of testimonials, etc.
What's funny about this, is they're learning about you from what YOU told/showed them to be their homework. Kinda cool huh?
But here's what senses different people rely upon in researching what you have to offer:
--55% need to "see" the information.
--30% need to "hear" the information.
--3% need to "read" something.
--12% need to "do" something with the service offered.
How this affects your mortgage bidness:
55%, the "seers," they simply need to see your mortgage marketing piece (which hopefully doesn't look like a commoditized "mortgage" product pitch), "see" your testimonials, see your website, see your office (once a meeting with them is warranted).
30%, the folks that need to "hear," they need to do things like hear a free recorded message from a happy past borrower, hear you explain things over the phone, and to hear your explanation in person (once that meeting is warranted).
ONLY 3% need to read something.
This means that what most prospects see & hear...think "video age" is more important than WRITTEN material! Also, that if your "see & hear" is done RIGHT, that they don't give a rip to read any disclosures!
See, I told you when you do the "other" stuff right first, that they don't spend time pouring over docs, and they just want what they've seen & heard about. They sign whatever.
This is a big reason why you should be getting the max. legal fee in your state with zero resistance!
12% need to "do" something. So, they might need to meet with you. I wouldn't meet with them unless they've already told me over the phone that they "definitely wanna do this," regarding the Program I just pitched them on.
I'd rather "throw away" this 12% than do too much hand-holding with them. My time is just too valuable, and life is too short.
But, sometimes it's worth it. So, if they've been cooperative on the phone, generally agreeable, and the fee is HUGE, I'd go ahead and meet with them.
See, most in the mortgage bidness are scared $#!tle$$ by what the docs say. I'm saying that it dudn't matter WTF the docs say!
No, I'm NOT suggesting you rip anyone off. I'm suggesting you do the "see & hear" stuff right, and not be a wimp, worried that the borrower idn't gonna like your docs!
Sincerely, your friend,
The Mortgage Marketing Genius(R)
P.S.: Breaking news today, Eliot Spitzer's $4,300.00 an hour:
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