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Don’t Close the First Time

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Why One-Appointment Closes are Doomed to Fail

reverse mortgage newsWith the increasing complexity of the HECM and the Financial Assessment attempting to educate and close your prospects in the first appointment is akin to asking them to drink from a firehose.

Each of us may be reverse mortgage professionals, educators and evangelists spreading the word of the benefits that the reverse mortgage offers. However stripping all titles away we are truly salespeople in the business of matching prospective homeowners with a reverse mortgage when suitable. With this in mind each of us should examine our approach and consider are we asking for too much too soon?

In my early days of originating reverse mortgage the product was simpler: one product, one margin and fewer complexities. This often allowed me to take an application on the first appointment. Today, everything has changed. The sheer volume of information we should be reviewing in person or by phone in our first encounter is…

Download a transcript of this episode here.

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1 Comment

  1. The rent is due. The convention is next week. Vacation is coming. Too much stress is the enemy of a healthy borrower relationship.

    I hate to think how many times, I have felt pushed to get through my presentation to make the sale. It rarely helps.

    This video was a great reminder that the application process is a process and trying to hurry that process up can do more harm than good.


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