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No Lead Left Behind


It would be nice to say that we never lose a reverse mortgage lead (potential sale) due to a lack of follow up, but how does one truly live up to the motto “no lead left behind”?

With the lead costs per funded transaction skyrocketing due to lower response rates and media costs, here are just a few ways you can create an air-tight system of reverse mortgage lead management.


Just how many “touches” or contacts with the prospective borrower does it take for them to make a decision whether or not to proceed? Studies show that you must touch your client a minimum of seven times before you can truly get a commitment. With this in mind creating systems for following up with your prospects is no longer optional. What counts as a point of contact? Mailing, phone calls, messages, emails are just a few ways to stay in front of the potential borrower. Each one cements in their mind your professional presence and commitment to follow through. That brings us to technology…


If you serious about managing your sales process and never missing a call back then a CRM (Customer Relationship Manager) is a must. Reverse Fortunes has developed RmCRM as a web-based CRM customized for reverse mortgage sales. Being able to track conversations (most of us don’t bother when we have to write down notes), schedule call backs and automate follow up tasks will keep any lead from slipping through the cracks. In fact, over the last six years I have averaged a minimum of one additional loan per month (sometimes 2-3) just by working my database. There’s nothing better than resurrecting what was once a ‘no-deal’ and turning it into a funded loan.


Every successful business has a system to selling. Not just an idea, but an iron-clad, duplicate-able and non-wavering approach of how to approach every potential sale. Nothing is left to chance. What is your work-flow or predetermined sales path? If you supervise other originators, do they know this approach and are they accountable to employ it. What happens Day 1, Day 2 and beyond after initial contact has been established?

Sales is part science (the systems) and partly art (the magic of human communication). The more we can take uncertainty out of the process the more we can focus on the art of selling and effectively communicating with our prospective borrowers.

These are just a few ways one can insure “no lead is left behind”. If you would like additional training or information on this topic, contact Shannon Hicks at Reverse Fortunes.


Editor in Chief:
As a prominent commentator and Editor in Chief at, 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.
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