The Business of Storytelling

by Shannon Hicks
| 5 Comments
| April 17, 2015

[vimeo id=”125203825″ width=”625″ height=”352″]

How to Touch the Hearts and Minds of Prospective Borrowers

The Home Equity Conversion Mortgage has obviously become a more complex mortgage loan. Distribution limits, set asides, financial underwriting are just a few of the newest gears added to the mechanism of the federally-insured reverse mortgage. As with any complex product, widget or loan comes the temptation to focus on the intricacies of the product while possibly missing the opportunity to paint a compelling picture with a story.

Consider for a moment the great communicators in history. They not only spoke eloquently but touched our hearts and imaginations with stories. A good story is both instructive and influential. Why should you consider business storytelling as part of your sales process with prospective borrowers? Consider these points:

1- Stories make you more real to your audience. More than just a salesperson. You can draw a good story from your past borrower’s experience, your parents, grandparents or others who have faced challenges in retirement, some who met that hurdle with a HECM.

2- Stories are instructive. A story can transform mere product details into…

Download a transcript of this video broadcast here

Looking for reverse mortgage, training and technology? Visit www.ReverseFocus.com today!

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.

5 Comments

Rick
April 17, 2015 at 3:59 am
Excellent
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Jim Grasmehr
April 17, 2015 at 9:16 am
The best story I have is the 79 year old who called me and was crying because he was 3 months late on his mortgage and payment and was recieving forclosure letters and he didn’t want to leave his wife with no home. With the RM I arranged, he paid off his mortgage and ending up with $20k in the credit line.
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- The_Cynic
  April 17, 2015 at 10:54 am
  Jim,
  
  After April 27th, that story will probably not be your best story in your arsenal for helping seniors understand the need or utility of Saver v4.
  
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The_Cynic
April 17, 2015 at 10:50 am
Shannon did present compelling reasons to sprinkle stories throughout our presentations.
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Beth Paterson, NMLS #342859
April 18, 2015 at 12:53 pm
Great suggestions, Shannon! I’ve used stories in my written pieces as well as when meeting with prospects and clients and doing presentations, often getting comments along the line of, “I never thought of using a reverse mortgage for that.” Always makes a difference. 🙂
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