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3 Tactics to Overcome Sales Objections with Questions

reverse mortgage newsOne of the earliest lessons I learned in sales was ‘if you say it they will doubt you, but if they say it, it is true.” As reverse mortga ge professionals we practice the art of educating and persuading. When faced with borrowers or family members strongly opposed to a HECM, try one or several of these approaches.

1. The Socratic Method.

The Socratic method seeks to open dialog, stimulate critical thinking and potentially get the other party to abandon their biases and presumptions. Basically, it is answering a question with another question. The borrower may state: “reverse mortgages are too expensive.” You could reply, “what makes them too expensive?” or “could you explain that a bit more for me so I understand?”

Download the video transcript here.

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  1. This is sales 101 in action. Those who reject we are in the business of selling are bound to failure for lack of asking the prospect about their interest in HECMs, what caused them to realize their need to take action for their financial future, and related questions. Rarely will a prospect close if all they receive is education; they need education that persuades.

    The HECM presentation is not about educating a senior so that they can pass an exam. It is for the purpose of providing sufficient information in their circumstance so that they can make a relevant and meaningful decision about getting a HECM now.


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