When I’m conducting sales reviews, less experienced originators will often lament that they really connected with a prospect but that their pitch didn’t translate into a sale. “What went wrong?” they ask.
The reality is that just because a prospect and a seller have a good conversation is no guarantee that the sale will happen or that a referral source will be willing to add the LO as a lender.
The issue? The salesperson hasn’t qualified the prospect thoroughly enough to discover the individual’s potential objections which might hold back the sale.
This means LOs must dig deeper during their consumer interactions and ask tougher questions to determine whether the prospect is a viable customer. For example, producers might include the following during their sales conversations:
• Find out what the prospect’s goals and dreams are.
• Determine the maximum payment the prospect is comfortable with.
• Present at least three options and let the prospect select what works best for them.
• Encourage the prospect to speak 80% of the time.
By actively listening, asking more in-depth questions and better qualifying prospects, producers can avoid disconnects and keep their pipelines flowing smoothly.