Converting Leads to Closes
The first phone call determines whether you close their loan or watch them work with someone else. The Goals of the First Conversation 1. Understand what they are trying to accomplish — not just qualify them. 2. Build enough trust that they provide accurate, complete information. 3. Give them a reason to choose you before you have done anything. 4. Get the documentation process started. Open With What They Want Do not open with a credit score question. Open with a conversation: Before we get into numbers — tell me what you are trying to accomplish. Are you buying a first home, moving up, downsizing? This shows you are a consultant, not an order-taker. The Three Qualifying Questions 1. How is your credit? Do you have a general sense of your scores? 2. Are you employed? Walk me through how you get paid. 3. What do you have available for down payment and closing costs? These three answers tell you whether a loan is possible, what product it might be, and what documentation you will need. Tell the Truth Early If their scores need work — tell them. If their DTI is borderline — tell them. Borrowers who hear hard news early are grateful. Borrowers who hear it at underwriting are furious — and they blame you.