Why Should They Trust You?

by Shannon Hicks
| One Comment
| November 20, 2015

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The Principle of Social Contracts

Trust. It is the foundation upon which all sales must be built upon. Consider for a moment the level of trust required for the homeowner to get a HECM loan. In most instances they have just met you, yet ultimately they sign several pieces of paper in the promise that their existing mortgage will be paid off or that they will have access to a considerable sum of money. No widget or tangible product on the shelf to take to the register, just an intangible product, concept or benefit.

In the art of sales we can fall into the trap of second-guessing why people should trust anyone, or more precisely us. Perhaps this is not a struggle yet we should revisit the concept of trust as it will strengthen our confidence to effectively approach, communicate and ultimately close more loans. At the core of trust in today’s society is the concept of what I call a social contract…

Download a transcript of this episode here.

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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.

1 Comment

The_Cynic
November 20, 2015 at 7:01 pm
Going back to the basics is crucial to how we bottom out of the current endorsement cycle. Today we find ourselves in the worst four month period ending September 30 experienced in the industry in over a decade.

While some point to financial advisors or Realtors as our way out of this struggle, it will come as we return to basics and take care of the actual prospects. This is not to discount the importance of referrals but rather to point out that the referral is the step in the process of closing a loan.

Referrals normally come with a higher degree of trust than recent acquaintances. Keeping that trust is imperative to completing the loan.

So Shannon is right that trust is key.
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