IT IS TIME -- -- Mortgage Coach Serious(ZT)

I was walking through the old terminal at the Detroit Airport after a long day of sales training for a client. I was approaching the shoeshine stand and like most of us do, I was preparing for what I would say when the gentleman asked, "How about a shine?" I thought about saying, "No thanks, I'm in a hurry to catch a plane," or "No thanks, not today." Well, to my surprise, he walked toward me, looked down at my shoes and said, "It's time!" The next thing I knew, I was in the shoeshine stand! I thought about his approach and why it had worked when I was prepared to give an excuse not to buy. Then the light went off. He approached me very differently than I was anticipating which interrupted my expectations! I do not necessarily recommend this tactic but the thought process behind it is sound. Let's look at why. 

We are all consumers and we all buy, it is just a matter of who, where, when, and how. The truth is, I did need a shoeshine but I was not ready until this gentleman made me ready! I see this all of the time. You are in a department store practicing America's favorite past time in stores:  "just looking." So what makes you buy? Yes, you have needs, but something interrupts your intended thought process and puts you in a buying frame of mind. The sales person who approaches you with the usual, "Can I help you?" gets the usual response, "No thanks, I'm just looking." The sales person who interrupts your thought process in a positive way gets the sale. Assume the same retail sales person approaches you and says, "Thanks for coming into our store. Please feel free to look around and I am here if you need me!" Your "sales guard" immediately goes down. You start "looking" and the salesperson approaches you again, this time noticing the dress or shirt you took off the rack and asks, "Are you familiar with how that brand is made?" Of course you are not (he or she was hoping you would say that!) and he or she explains the quality of the fabric and its unique design. "Let's try it on to see if the style is right for you!" The next thing you know, you are walking out the door a happy and motivated buyer. What happened? The sales person did several things. First, he or she got you to drop your guard. When the salesperson approached you again, he or she established knowledge and expertise. Once you had confidence in the salesperson's knowledge, the sales process progressed by getting you to try on the garment. If the sales process is not moving forward, it's a problem! 

Does this apply to mortgage or real estate sales? Yes and even more so due to the fact that the prospect is making a major buying decision. I often use the example of the over the telephone rate shopper who is "just looking."  In the mind of a loan officer, a rate shopper on the telephone is looking for the lowest rate. On the surface, that may be true but in reality, he or she is looking for someone he or she can trust, but does not know how to find that person. That is where you come in. Like the original department store salesperson scenario, too many loan officers do not have a well-thought out script (the second scenario used the correct script). You know the rate shopper will ask, "What is today's rate on (fill in the product)"? The inexperienced loan officer actually gives the rate and the rate shopper hangs up. The engaging loan officer knows he or she must keep the rate shopper on the phone so this person responds, "Thanks for calling. We are very competitive. I would like to quote you my lowest rate but to do that, I will need more information since in today's market, rates are determined by many factors. Could I ask you a few questions?" We just increased our chances dramatically of making the sale. We could go through this entire script, but it would take five pages. The point is to be different from the crowd. You must establish your expertise and you give the prospect a trusting and positive experience. 

I forgot to tell you something about the shoeshine man. Once he began shining my shoes, he gave me in depth knowledge of the importance of shoe maintenance to make them last and even identified my brand without seeing the label. He was very complimentary of my choice in shoes! I love working with a real pro and on my next trip through the Detroit airport, I will seek out this professional in his field!