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What Am I Selling?


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reverse mortgage news financial assessment





Moving from Product to Emotional Motivations

reverse mortgage newsWith increasing regulation, product restrictions and the newly-released financial assessment we may ask ‘what do we have left to sell?’. A valid question indeed. We most certainly are not selling merely a loan, a stack of paperwork and forms or even cash itself. We are selling, if you want to use the term, an improved quality of life. Sound cheesy or sentimental? Ponder this for a moment. Older homeowners who approach us are not so much seeking cash but the safety, comfort and satisfaction increased cash flow can provide them during their retirement years. With this in mind here are a few points to consider when speaking with prospective borrowers. 1- People don’t know what they want until you show them. Give a real-life hypothetical example of how a reverse mortgage has improved your client’s life. You can use real figures and create a simple one page graphical visual aid showing a before and after…

Download the video transcript for this episode here.

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  1. I’ve often said, “Life is uncertain, eat your dessert first”
    One additional thing we always seem to be selling is a frantic sense of URGENCY! Every time there’s a FHA induced regulatory change we stampede our customers first one way then the other in hopes of capitalizing on our small and always rapidly closing window of opportunity.
    Now we’ll be running full speed once again to “beat the clock” ahead of the FA artificial deadline of March 25.
    It’s really no way to run a circus.

  2. that’s why you need as three ring circus mindset to do r.m.s. ,,,,keep clients needs first and you will be on target ,,,, cliff

  3. In the world of HECM, there is only one thing that is certain …. The rules will change more quickly than the weather.

    “Something wicked this way comes” (Shakespeare)

    • Stan,

      Who is really the true Cynic here?

  4. Yes, FA is scary. I remember during my time at Met when we implemented it for a bit. Let’s just say, it didn’t go well. We also had an industry that was going to join us, instead, used our FA to sell against us.
    FA scared me out of the business for a while. I am back now because I am passionate about helping seniors. Will FA have an impact on our business? Probably, but we all must stay focused on what we should all be focused on and that is improving the lives of seniors and their families.
    In this business, we face CONSTANT change. That is a most certain aspect when looking at our industry from the business prospective. The key is to tune out the noise and stay focused. Yes, we must be aware of what is happening, for sure. However, we must not allow the noise to hinder our efforts.
    Good luck everyone, I know we will all need it.

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