When They Leave You...Continue Showing Them The Love!

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A Guide for Mortgage Professionals
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Ok, I admit it...I have lost a prospect to another lender for a variety of reasons.

Bottom line, it's happened to all of us. However, how many have a strategy to get the business back?

Now you do and here it is. It's a simple, powerful and provides you a fantastic strategy to follow when this occurs (that is if you want to work with the prospect again).

1. Call them seven to ten days after it happens.
2. Don't call and ask if they have changed their mind.
3. Remind them when they initially decided to use another lender, you offered to do whatever you could to help them...even if you are not doing their loan.
4. Professionally ask them how their loan is going and offer your help again.
5. If their loan process is going badly (this will be the case one in three times), you have a perfect opportunity to recapture the prospect.

Note: I have found one-in-three have done nothing, so the phone call may result in a chance to convert the prospect over fifty percent of the time. So THIS phone call is one that can be well worth the effort.

Comments

[Mark Green]

Simple enough advice, but most of us fail here. Sometimes we get bent out of shape, feel betrayed, whatever.

For me, I am always grateful for the opportunity to compete fairly for one's business. Hopefully I win the business, but it's not going to happen every time.

The true key in salesmanship is getting the other person to pick up the phone when you call. Simple psychology comes into play here. If you've conditioned your client/prospect to expect negativity/stress, naturally they'll let the call go to voice mail. But if they expect a true professional - a fiduciary - to be on the other end of the phone, you'll always have the one thing you hope for in any sales situation:

A Chance.

Great article :)