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Building the Bridge of HECM Benefits to Borrower Needs
If you ever consider who some of the greatest communicators of our time were they have one trait in common; they were great story tellers. Too often reverse mortgage professionals fall into the trap of selling first or over-educating and over-complicating the product to the homeowner. Welcome to the Industry Leader Update I’m Shannon Hicks.
With the Home Equity Conversion Mortgage becoming increasingly complex education has become essential to both inform the consumer and close loans. A recent panel of industry sales leaders at the NRMLA conference in San Francisco last month highlighted the distinction between educating and selling. “There is education to the sale, but along with it comes a close,” said Kevin Blakeney, senior vice present of national field sales for AAG. “Going into the consumer’s home and giving them as much information as possible, but not showing them how this product is going to relate to that person and help them over the finish line to take advantage of the product and sell them- that’s where fundamentally I think we’re missing the boat here”…
Download a transcript of this episode here.
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