Relating To Reverse Mortgage Prospects
How do you relate to your reverse mortgage prospects? Even if they’re eager to start the qualifying process, even if you know your business cold, even if you are the friendliest person on Earth — understanding someone’s “buying style” is paramount. And it likely has little to do with how you make purchase decisions.
Here are some common “thinking as if I’m the buyer” traps to avoid:
- No Time. The Guess Who were “on their way to better things,” but by giving your reverse mortgage prospects short shrift because you detest long sales presentations (or think a senior won’t want to hear all that detail) you do them a serious disservice. Some people will want to know every nuance of the reverse mortgage opportunity before making a decision to move forward — and that may take some time. So don’t just sing the chorus; launch into every verse.
- Too Much of a Good Thing. On the other hand, you can overwhelm a prospective client with too much information. For an indecisive buyer, a profusion of options may only serve to confuse them and delay the decision-making process.
- If Tomorrow Never Comes. Is this the right time to obtain a reverse mortgage, or should your prospect wait until they’re older, their daughter marries, or the planets align? Some people naturally dither with all major purchases or life changes. If this is your personal style, like Garth Brooks’ lyrics, you’ll keep allowing your reverse mortgage prospects to delay initiating the qualifying process for any reason, forever. And then you and they will be singing the blues.
- More, More, More! The lyrics worked for pop star Rachel Stevens, but they’re usually not the best approach with reverse mortgage prospects. While an aggressive stance may spell s-o-l-d when you’re the buyer, it will turn many older adults off.
In order to discover the tune each prospect sings, don’t hum along to the melody in your mind; instead, ask better questions, and tailor your presentation to suit each individual’s or couple’s needs. When they enter into a reverse mortgage conversation that matches their personal buying style, it will be music to your ears.