I Pledge Allegiance to the Grind


Open-Mtg-2018-Knock

Dealing with and overcoming the daily grind

reverse mortgage news“I pledge allegiance to the grind, and to the exhaustion for which it stands. One professional, over worked, with burnout and frustration for all.”

A recent blog post entitled “I Pledge Allegiance to the Grind” got me thinking. How many are dissatisfied, not because of what they are doing, but because how they are doing it?

You’ve probably heard about the doctor who is burned out after a decade in practice, who just wants to ‘do their own thing’. Can you blame them? Burnout is a result of ‘the grind’. Here are some ways we can step back, reevaluate and regain some semblance of perspective.

1. Start at the beginning. What got you into reverse mortgage lending? Being a business owner, spouse or partner? Think back and remember the ‘why’ when you first began.

Download the video transcript here.

Questions you should be asking


Open-Mtg-2018-Find-Place

Here’s why some qualified prospects are saying ‘no’

When you meet with a prospective reverse mortgage borrower what do you want? Facts, figures, account balances? Or in addition to the necessary information you must gather, do you want something more revealing?reverse mortgage news

The truth is even if you find a qualified, or even ideal reverse mortgage candidate who looks great on paper they may choose to put off getting a reverse mortgage. Why would an ideal candidate do such a thing? I’m certain most of you have found yourself asking that question when leaving an appointment. If qualified and possibly motivated borrowers are saying no it could be because you’re not asking the right questions.

With the increasing requirements to gather additional financial information as evidenced in the Financial Assessment we can find ourselves missing the opportunity to ask open-ended questions that uncover motive, state of mind, values and more. Here are just a few potential questions we can add to our sales toolset today.

  • What’s going on in your financial life today?
  • Have things changed?
  • You mentioned that you want to…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today

How’s Your Foundation?


Open-Mtg-2018-Join-Us

This last weekend I learned a valuable lesson about the importance of foundations. My wife and I recently purchased a new memory foam bed. Seeking greater stability I decided to make some changes..reverse mortgage news

Each of us should examine the foundation of our business: our plan, where we spend our time, and how often we get out of the office and effectively engage homeowners and professionals in our region…

Serving vs. Selling


Open-Mtg-2018-Knock

reverse mortgage newsLet’s face it, older homeowners can get a reverse mortgage from any qualified lender. In fact, some may never have to sit face to face with a loan officer. Also, the reverse mortgage has become increasingly like it’s traditional cousin, the forward mortgage. The truth is anyone can attempt to sell a reverse mortgage but fewer have mastered the art of serving.

With reverse mortgage becoming increasingly commoditized it is important for us to move from selling to serving our prospective borrowers.

Here are a few thoughts that come to mind.

1. Don’t put the cart before the horse. Try this the next time you speak with a potential borrower. Instead of launching into the features, benefits and particulars of the reverse mortgage do this…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today

Allergic Reactions

[vimeo id=”161114149″ width=”625″ height=”352″]

Open-Mtg-2018-Join-Us


Challenging Denial? Proceed with Caution

reverse mortgage newsIt’s springtime here in the western U.S. where the sun shines, flowers and trees bloom and allergy season begins. In fact as I speak my car is covered with the yellow telltale powder of tree pollen. While physical allergies are easy to identify and treat, what about allergic reactions to truth?

Physical allergies are triggered when a person comes in contact with a substance that triggers a a reactions, most commonly a release of histamines that seek to protect your immune system. The problem for those who have allergies their bodies have confused harmless substances as potential threats creating a defensive response. Psychological allergies are quite another matter. Each of us have our hard-wired responses to perceived threats, unsettling information or personal conflict. Some our own responses  could be likened to an allergic reaction.

The same can be said with the prospective borrowers we meet. If we do not tread carefully when exposing the truth that more funds are needed to fund their retirement the feedback can be less than pleasant…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

The Greatest Fear of All

[vimeo id=”152636461″ width=”625″ height=”352″]

Open-Mtg-2018-Knock


Overcoming Fear of Rejection for Greater Sales Success

reverse mortgage newsSomeone once told me “the answer is always no until you ask”. I beat this mantra into my consciousness early in my sales career. It speaks to a common affliction often found in salespeople: the fear of rejection.

As human beings we are hard-wired to seek connection, acceptance and belonging. Fear of rejection focuses on the potential loss of these nobel aspirations. Truth be told none of us are immune yet some have mastered their fear pushing through to new levels of personal victory and professional achievement. How can each of us as reverse mortgage professional manage this human condition?

It’s strictly business

Life is a teacher and at times an brutal drill instructor. We have learned repeatedly that being rejected hurts. This repeated cycle of action and consequence can leave some feeling insecure as to how they should approach others coupled with a bruised sense of worth. When it comes to sales there is something we should first consider: the rejection is not of you as a person but of the idea or product you are selling. As Michael Corleone opined in the Godfather “…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

What Do They Want?

[vimeo id=”135622822″ width=”625″ height=”352″]

Consumer-Centric Fact Finding versus Selling

reverse mortgage newsGrowing up as a child I remember my father reminding me periodically “It’s not about you.” This admonishment is key for us to develop successful personal relationships and more practically with our borrowers.

Sitting down at the kitchen table with hundreds of older homeowners and countless business presentations this simple, yet direct principle can easily be lost in one’s zeal to present, persuade and influence. These motivations can blind us to one of the keys to successfully determining if a reverse mortgage is in fact the best course of action.

Today our prospects have more power than ever with better product knowledge, the ability to conduct research online and social media. Here are some principles to keep in mind as we work with older homeowners considering a Home Equity Conversion Mortgage.

1- Interview them first. Avoid the temptation to jump into the storied history of the reverse mortgage program, margins, the index and non-recourse clause. While important…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

Don’t Shy Away

[vimeo id=”117444083″ width=”625″ height=”352″]

How to Overcome Objections & Close More Loans

reverse mortgage newsIf there is one trait in many salespeople I’ve seen repeatedly it is the tendency to shy away or avoid objections to the reverse mortgage. I’ve been there myself. Early in my career I carried the silent fear that if I bring up anything negative the prospect will reject the idea of getting a reverse mortgage. I learned the hard way that nothing could be futher from the truth.

Let’s look at why bringing up and overcoming objections is critical to closing and keeping the sale.

#1. Trust. If you do not bring up the fact that the children’s inheritance is directly effected, the disadvantage of moving early in the loan or  how interest is really calculated someone else may or even worse they will find out on their own and ask “why didn’t he mention that?’. Once that happens your trustworthiness is shot and so is the sale.

#2. A true professional. There are salespeople and then there are…

Download the video transcript for this episode here.

Looking for more reverse mortgage tools, training & technology? Visit ReverseFocus.com today.