Persuading with Questions


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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.

The X Factor: Denial

Constructively Exposing Retirement Denial

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Reverse Sales Training News

Denial In Reverse Mortgage Borrowers

Denial. It’s one of our biggest challenges when working with prospective reverse mortgage borrowers. While denial tends to manifest itself more prominently in those who have little financial assets, like the needs-based-borrower, it also applies to more affluent borrowers. Denial creates an alternate reality for needs-based homeowners  with statements like “we’ll be just fine” or “we will find a way to increase our income when we retire”. For more affluent potential borrowers it may appear in the statements “our portfolio will keep growing giving us enough money to live on the rest of our lives.” Denial serves a dual purpose: to avoid discomfort and accountability. No one likes to admit that their previous spending and savings habits have led to a retirement crisis. Savers don’t like to accept the fact their investments may never grow enough to sustain the withdrawals they need each year to maintain their standard of living in retirement. Denial has exacts its price: stress, fear and lack. It stems not so much from logical or  willful choices but from unconscious beliefs and habit patterns. What are our choices