The key to every successful relationship both personal and professional is…trust. In life, we leverage so many different ways to earn and build a trusting relationship, especially in our personal lives.
Often, brokers, agents and other business professionals, let this part of life slip a bit when it comes to their growing business. Many are in it for the quick sale and “say anything to get the deal”. It may result in a quick one time mortgage transaction but in the long run, your business will grow at an exponentially slower rate than that of a broker who makes trust their number one priority.
I recently heard a new agent cold call a potential client. They spent the entire call telling them, “the banks are bad, use a broker, use me”.
I get it….We all know clients are better off using us, but this was an entirely wrong way to go about this call and build trust. Why? How can you build trust with someone new when you just spent the entire call spewing about how everything they have done to this point is wrong?
See this agent just told the potential lead that their whole life using their bank was basically insane and that my random phone call to you should change all of that. No established trust whatsoever.
There is some great content here on Mortgage Mondays that tells agents how to spend more time showing prospects an understanding of the value of our business and I immediately signed the agent in question up for a membership so they could watch it. In that particular call, they gave them no understanding of what we do and yet felt comfortable enough to tell them why they have been wrong their whole lives. Needless to say….no appointment set.
Trust is integral to all sales roles, not just mortgage brokering and once it has been earned and built, THEN we can leverage trust to increase our mortgage sales by asking for and receiving referrals.
Let me ask you….
If someone you know and trust rings your doorbell with an opportunity and then 20 minutes later someone you never met has the same opportunity, who are you more likely to give the time of day? Exactly. We MUST build and earn trust in this business.
The fact of the matter is, being a broker or mortgage agent is about advice. It is what sets you apart from the banks and even each other! When providing someone with mortgage advice , trust is what gets the advice listened to, taken and adhered to.
We can also build trust during advice by not making outlandish claims. You need to simply give reality and easy to understand outcomes to the client that are positive, and then also not withhold what happens (in a gentle way) if the advice is not adhered to. Why?
Being honest and realistic is what keeps a client coming back for more advice, it builds trust and it leads that client to referring you to others to heed your advice. When clients seek your help with making decisions, this is where the birth of sales begin.
Trust is in the hard conversation too. I contributed to the Mortgage Mondays module “having the bad credit conversation” and in it describe that it is a hard conversation, but when done right, it also builds trust.
No one likes getting bad news about their mortgage. But how you present this information is critical to building and maintaining trust. I once heard an agent say over the phone “sorry we can’t do anything for you, your beacon is too low. Wish I could do more” and essentially leave it at that. Are you kidding me?