How to qualify reverse mortgage leads and focus on relationship building
Do you ever feel you are going in circles when it comes to working your leads? It’s a frustrating process if you find yourself making constant call-backs trying to reach the homeowner. What is comes down to is this: what is your highest and best use? The answer: directing your energy to prospects who are qualified and willing to engage in a meaningful dialogue about the reverse mortgage.
Working with a quality lead provider you should be receiving leads screened by value, age and loan balance and who has a return policy for non-qualified leads.
Here are a few pointers to help you direct your energy most effectively so you spend time building rapport with prospects, not hunting them down.
- Use a CRM (database) and track your calls and conversations, messages left.
- If you cannot reach a prospect in the morning, try the afternoon instead. Visa versa.
- Don’t leave boring messages. Give them a bona fide reason to call you back or arouse their curiosity. You could leave a message like this “This is “(your name)” and I wanted to call and personally thank you, but I also had a quick question for you. Would you call me back at “(your number)”?
- Schedule mailings to those you cannot reach by phone and schedule follow up calls on differing days and times.
- Promptly (within 24 hours) return unqualified leads based on your providers policy.
- Remember: It’s a relationship, not a transaction. The typical prospect from first interest in the reverse mortgage takes about 9 months before deciding to sign an application. You don’t know where they are in the process until you meet or speak with them.
- Tag team: Are you not making the connection? Perhaps work with a colleague to help you move the prospect along and make arrangements for commission sharing.
More than any other type of product reverse mortgages are a relational transaction. Education, rapport and polite persistence all are keys to moving forward.