But Do They Trust You?

by Shannon Hicks
| 3 Comments
| July 21, 2017

Trust is built. Here’s how to keep it

Trust. How do you earn it and what telltale signs do your potential borrowers look for? Too often HECM professionals can fixate on education and persuasion forgetting the fact that getting a Home Equity Conversion Mortgage may be the largest financial transaction their prospective borrower will make.

1. A piece in the puzzle. Before recommending a reverse mortgage to the homeowner, you must first uncover their unique situation. What are their concerns? Do you know how long their savings will last? Is there a bona fide need? Focus in solving their challenges, not selling a product.

2. Keep your promises. If you break your promise to arrive on time, you have already eroded the homeowners trust. Arrive on time, answer your…
Download the video transcript here.

Editor in Chief: HECMWorld.com

As a prominent commentator and Editor in Chief at HECMWorld.com, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.

Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.

Readers wishing to submit stories or interview requests can reach our team at: info@hecmworld.com.

3 Comments

owen coyle
July 21, 2017 at 6:17 am
Hi Shannon, your “Are You Trustworthy”?
Friday’s Food for Thought was excellent.

I always try very hard to follow all 5 of your points, especially “Eat The Frog”

Owen
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- Shannon HicksModerator
  July 21, 2017 at 7:59 am
  Thank you Owen. Frog-eating is efficient yet unpleasant. We appreciate your support!
  
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The_Cynic
July 21, 2017 at 6:30 pm
Some think a CRMP will create an atmosphere of trust but who even knows what those letters stand for unless they are in the industry or a relative of a CRMP?

We must never forget that while trust can be testified to, it must be earned through action. While referrals help, they do not generally establish long-term trust.

Those who rely on product knowledge and good service over trust will have a difficult time originating. Without the trust of the prospect, originating reverse mortgages can become a very cruel taskmaster.
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