OLD SCHOOL SALES

“If you say it, it is B.S., if your customers says it, it is gospel.”

One of the original "sales mantras" still applies in our business today.

Whereas it is our job to counsel and guide our customers to the right loan product, rate and fee structure for their personal situation, please keep in mind that part of persuasion is getting them to go along with your recommendations to the point where they are repeating and validating what you are telling them

We have all had situations occur where the customer was either uncomfortable or downright disagreeable to what you as a Loan Officer may be recommending. In a situation like this, you are almost always better off giving them what they want rather than what you think they need. Despite your strong beliefs, people will not buy unless you are selling what they want, and if not, they will find someone else who will.

CONFUSION 101

A recent survey conducted for the national branding firm Segal & Gale concluded that home loan applications are the most complex documents that American consumers struggle to comprehend. According to the so called dissatisfaction between mortgage companies and their customers.

This makes sense especially for those consumers who are asked to complete their loan applications. If you still let your borrowers fill out their own 1003, you are missing one of our greatest customer service opportunities. 

Would your doctor ask you to complete your own chart? Would your accountant ask you to complete your own 1040? Would a waiter ask you to write down your order for them? No, no and no!

A borrower can no better do your job than you can do theirs. So do your job. Complete your borrower's applications for them and let the internet companies be the ones asking too much of the customer and losing them soon after!

BE KIND

Regardless of their age, position, mood, social status, or beliefs please keep in mind that everyone is always struggling with something in their personal and/or professional lives.

Just because someone is wealthy does not mean they do not have money issues. Just because someone is the boss does not mean they do not have work issues. Just because someone has a positive demeanor does not mean they do not hurt inside for some reason.

Remember everyone is fighting a battle - be kind.

THE 2 TO 1 RULE

You have two ears and one mouth. Use them in proportion.

There many not be a simpler yet more important concept than this for all people regardless of their position. Think about how this applies to you in your daily dealings with others. Those who have this equation backwards are usually the worst listeners because they are either too busy talking or their minds are too preoccupied with what they are going to say next to listen effectively.

The best salespeople are, above all, good listeners but you don't have to be in sales to benefit from listening!

YOUR HEAD'S GREEN LIGHT

When you understand how your reticular activator works and use it effectively you can become virtually unstoppable in the pursuit of success! Your mind becomes clear and focused, all necessary information flows through and that which has no value in the achievement of your goals get rejected. Once you deliberately choose your goals and start to move towards them you know that you will accomplish them and that while temporary setbacks can and will occur failure is simply not acceptable under any circumstances.

Our final example of the reticular activators function is a simple trip to the grocery store. When we shop with a list most of us will spend less time and money at the store than if we just walk in and start plucking things off the shelf. If the loss of time and money isn't enough, consider that most of the mistake purchases the shopper without the list makes are buying products that are placed in eye level displays that are there because the merchandisers compel them to buy which fulfills their goals not yours!

Decide what is important to you! Let the good in and let your filter keep out the brain riff raff! 

THE BRAIN FILTER

The reticular activator is the attention center of the brain,

It works as a filter within our brains that decides which information is important enough to focus on. It controls what our minds absorb since none of us could possibly take in more than a tiny fraction of the information and stimuli available for us.

Much of this is already preprogrammed into us by age, gender, previous experiences and beliefs and part of it is in a constant change mode based upon the changes in and around us.

Let's say you are visiting some friends at their new home, There are things most men are programmed to notice such as the garage and the television. Meanwhile the women (who will notice much more than the men) will not miss the kitchen and decorating!

This part of your reticular activator is so strongly programmed that it is not likely to change unless and until your interests change.

The magazines we read are a great indicator of what we freely allow to flow into your reticular activators on a regular basis. It is only when something is of newfound importance to us that we realize how much of it we missed before.

To be continued...

NAME, PLEASE, THANK YOU

Whenever speaking with others on the phone especially when speaking for the first time with a prospective borrower, try this formula...

• "Their name" X 3
• "Please" X 2
• "Thank You" X 1

People are instantly attracted to those who are polite and call them by name. This formula will give you a dose of "instant charisma" with the person on the other end of the phone. 

BRAIN POWER

The human brain is the most complex thing known to mankind and we still know only a tiny fraction about it. Since most of us use only about 3-4% of our brains and geniuses might use up to 5%.

One amazing function of the brain that none of us could live without is called the reticular activator. This part of our brain acts as an information filter through which our nervous systems are constantly bombarded with information.

A classic example of the reticular activator is how when we get a new car we suddenly notice all of the other identical cars on the road and we are amazed at how many there are! Understanding, why and how this vital cog in the brain functions is knowledge we can all use effectively and starting tomorrow we will begin to better understand the reticular activator and learn how to use its awesome power to our benefit.

To be continued...

EMOTIONAL RESCUE

The third and most important element of persuasion is emotion, which involves opening a person's imagination to see, feel and want what you have to offer. This is the tricky part of persuasion but anyone can do it as long as they know how.

Start by talking about the advantages of what you can offer and help paint a mental picture that appeals to their senses and their primary goal of obtaining a mortgage whether it is saving money, owning their own home, paying off debts, etc. Using words to create mental pictures of the customer's happiness is the key. words and situations that create positive emotions are all you need, but it takes practice. This ability to appeal to the emotions may be the most important selling tool ever.

So next time you win or lose a loan, ask yourself these three questions...

Did the customer trust me? Did I make sense? Did I move them to action?

If all were "yes" you should have won. If two are "yes" you probably lost and if only 0 to 1 are "yes" you never had a chance.

CRYSTAL BLUE PURSUASION

Look over yonder what do you see?

“The sun is a-rising most definitely
A new day is coming people are changing
Ain’t it beautiful
Crystal blue persuasion”

The excerpt from the above named 1969 song by Tommy James and the Shondells gives us a very positive look at a world full of persuasion rather than coercion.

Effective persuasion selling has three key elements; trust, logic and emotion.

A trusting first impression is key and chances are your customers trust you or at least have some sense of trust based upon their trust of whoever referred you. Trust is an essential element of persuasion and without it there is only a sale through coercion.

Indisputable logic- Your game plan for any particular customer must make sense and be professional, educated and compelling. Without indisputable logic, very few of us will ever be persuaded.

Tomorrow we will look at the third and most important element of persuasion; emotion. 

PERSUASION SELLS!

Many times when a sale is lost, one needs look no further than the difference between coercion and persuasion.

The best salespeople are especially good persuaders rather than coercers. Coercion is getting someone to do what you want them to do and it is usually associated with some type of force being applied to enact the coercion. Persuasion is getting people to want to do what you want them to do. The difference is like night and day, black and white, or in our case a closed loan or a loan lost.

The difference is all about human emotions and whether or not you tap into that person's sense of imagination to make them see, feel, and want what you have to offer. Persuasion is one of the best life skills for any person and certainly for salespeople. And just like sales people, persuaders are not born that way, they learn and so can you for the next few days!

DON'T SPRINT THE MARATHON

“Moderate effort over a long time is important, no matter what you are trying to do. One brings failure upon oneself by working extremely hard at the beginning, attempting to do too much, and then giving it all up after a short time.”

— Dalai Lama

In other words all great endeavors, such as career, are marathons not sprints. Just as a world class sprinter could never maintain their 100 meter pace for 26 miles, people can not expect to succeed instantly and consistently in a long career by treating every day and every project like a sprint because failure and burnout are the result.

If we value or causes then we owe it to them not to fail!

RESEARCH PROJECT

You can handle  situations like yesterdays example gracefully and professionally every time with one easy sentence.

"Let me do a little research and call you back." The word research is very warm to most people because it has a very professional implication. The fact that you are willing to do "research" for them is usually quite gratifying. Just make sure to get as much information you can from them on the initial call and answer any questions that you are able to at that time.

To take it one step further, tell them when you will call back and call them earlier. Just and call them earlier. Just make sure you give yourself ample time to do your research and you will have under promised and over delivered making an excellent first impression!

GIFT NOT PAYMENT

An ancient Buddhist proverb says,

“Misers certainly do not go to heaven. Fools don’t like being generous. But the wise, rejoicing in giving, find joy in the higher worlds.”

How do you like to give? Hopefully not always in return for a previous favor or only when you are given to first.

Remember a gift is not deserved; otherwise it would be a payment.

This mindset, will not only bring you greater joy but it may also help you avoid RESPA violations!

ANGER MANAGEMENT

Find your pleasure in your deference.

When we are frustrated, we become rude. Even if it is taken out on objects rather than on other people directly. Others will still feel it and can even be injured by it. Driving mad can be more dangerous than driving drunk while on a cell phone. And driving a golf ball into the weeds and then throwing your club is just plain wrong and dangerous to others.

Usually the root of the problem is some ridiculous need to put ourselves first at the moment. Do we have a genuine need to take first? The answer is almost always no.

Unfortunately the media, especially in sports, tends to make a big deal out of the coaches and players tantrums. How many times have you seen the replay of Bobby Knight throwing a chair on to the basketball court of Mike Ditka cussing out a reporter?

These are just a few of the bad examples of lack of anger management that we see on almost a daily basis. However, you can rise above it. Just take at least three deep breaths and ask yourself do I really need to win this one? If the frustration remains but we overcome it we can then achieve victory by giving ourselves credit for our deference!

PAY ATTENTION!

Cell phones definitely increase the rate of automobile accidents but they are hardly the number one culprit.

The primary cause of accidents is not drunk driving, excessive speed, weather or vehicle malfunctions. The number one cause of accidents is drive inattention. Something we are all guilty of at times!

The distraction category is broken down by type and cell phones rank fifth just ahead of smoking and behind eating and drinking, talking with passengers, adjusting the stereo or heat system controls and the number one driver distraction is something going on outside the vehicle. Further, the number one cause of fatalities is not wearing a seat belt.

So please, for your sake and that of others, buckle up and pay attention behind the wheel. Most every one of us has known someone who passed away as the result of a car accident and some of us knew several. My heart is heavy now as I write this thinking of them. Ending a life by car accident is so very sad and usually so very avoidable. 

HANDS FREE INSECURITY

As you know, the use of cell phones while driving is dangerous. Thus it is prohibited by most companies for its employees. However, most people (including myself until I did this research) think that as long as they use an earpiece or other hands free device they are safe. Not true.

In fact studies have shown no benefit whatsoever to hands free devices because rarely does the actual holding of the phone up to one's ear cause the accident. Usually what distracts the driver enough to crash is dialing, talking, answering and/or trying to find the phone,

The biggest culprit of all however is that most of us are just over estimating the limitations of our attention especially if the conversation is very important or argumentative. The same studies found that heated conversations have a frequency of accidents as high as a driver with a .15% blood alcohol level which is more than enough to get you thrown in the slammer in all 50 states!

To be continued...

CELL PHONES REVISITED

One of last week's Kaizen project winners advocated using drive time as call time or as many of you pointed out, to knowingly break company policy by being on the phone while driving.

The ability to place cell calls while in transit is a huge time saver right?

Maybe, however the benefits of a lifetime's worth of productive cell phone calls can be erased in the split second that precedes every car accident. In fact, the New England Journal of Medicine conducted a recent study that concluded driving while talking increases your odds of a crash by four times or roughly the same odds of a driver who is legally intoxicated!

Several countries and many states have enacted legislation that prohibits cell phone use while driving and the trend continues to the point where soon it will be illegal almost everywhere,

"But wait", you say, "I'm safe because I use a hands free device."

Not so.

To be continued...

SOMEDAY IS NOW!

Back by popular demand, the words of the Scorpions, a German hard rock band who write profoundly positive lyrics and perform their songs in English despite it being their second language. Here are some of their latest words of wisdom and motivation...

“No turning back, no more yesterdays. I just don’t get lost in the haze. All my tomorrows, no sadness, no sorrow. Watch out for the rest of my days.

Stronger, the longer, I’m pushed to the limit. Said I’d do it someday, someday is now.

When i see the sun is shining, I’m flying. There’s no room for crying. I’m gonna win some way, someday is now. ”

DECISION MAKING

“When each is thus considered separately and comparatively, and the whole lies before me, I think I judge better and less likely to make a rash step.”

We all wrestle with difficult decisions in our lives but did you know one of the most famous men in our country's history laid the groundwork for effective decision making in the 18th century?

In a letter to Joseph Priestly (the English scientist who discovered oxygen), Benjamin Franklin commented about complex decision that Priestly was faced with. Franklin wrote that "the problem of deciding inexplicable situations is that all reasons pro and con are not present to the mind at the same time." As a result our minds are temporarily swayed back and forth depending on which aspect of the decision seems to be most important at the time.

To solve this little conundrum of human nature, Franklin would divide a sheet of paper into two columns "pro" and "con". Then over the next several days he would write in each column the positives and the negatives of the decision as they occurred to him in order to more carefully evaluate the devision.

The best part of Franklin's system is that it works because our minds can act like pendulums when face with complex decisions!