During a recent conversation, a senior executive shared how hard it’s been for some originators to transition from the easy business of the refinance boom to the tougher grind of purchase money.
While managers and originators alike readily acknowledge that selling tactics need to change if they want to survive – and thrive – in today’s volatile marketplace, why are so many experienced sales professionals dropping the ball?
The simple answer is sales discomfort. Succeeding in a more difficult sales environment requires originators to ask borrowers hard questions through a series of conversations. For some originators, this sequence triggers discomfort that can derail their progress and prevent them from moving forward.
In Jeff Shore’s excellent book, “Be Bold and Win the Sale,” he notes: “Every single salesperson will face [uncomfortable] moments as a routine part of his or her job. They are inevitable. Top performers find success not because they don’t feel discomfort, but because they plan for it and are equipped to beat it.”
According to Shore, there are 10 common scenarios that trigger sales discomfort:
- Prospecting
- Telephobia
- Dealing with mean or rude people
- Objections
- Asking probing questions
- Price defense
- Closing
- Follow up
- Dealing with people from other cultures
- Dealing with people from varying socioeconomic backgrounds
Originators who struggle with this issue can overcome it by identifying the source of their discomfort and then developing a plan that enables them to address their fears. Only then can producers change the narrative and write the next chapter in their success.