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There is One Key Difference Between Top Selling Mortgage Brokers and being “Stuck in The Middle”

One of the biggest differences mortgage brokers who exceed their own performance expectations have today vs. brokers and agents who never seem to pull themselves out of mediocrity is this: They both approach one of the barriers to top performance completely differently.

Brokers experiencing the “middle” in performance are selling and presenting to clients to simply share information, whereas top performing brokers and agents are presenting and selling to earn a commitment to doing business.

See top brokers and agents realize that every single interaction and touch point with a potential client is a defining moment and a clear opportunity to advance the relationship between broker and client AND they realize that every touch point should have a commitment objective.

So what is a commitment objective?

It is not always about getting a signed commitment for a mortgage with your client. It’s about moving your mutual relationship forward to that moment of truth at signing. Consider it the law of incremental commitment.

Typically in our world, mortgage sales include a series of incremental commitments, whether that be the commitment to dealing with you, the commitment to refer you, the commitment just to come in and meet with you or the commitment to actually sign on the dotted line.

As part of our brokerage we put into place three questions that we always, without fail, ask ourselves. We use these questions post mortgage appointment, call, referral appointment, you name it… we use them all the time. We use them to elevate our ability to review whether we earned commitment and created impetus to do business with us instead of the “other shop” across the way.

Here are the three questions:

  1. What commitment did I earn?
  • This one is simple. After every sales call or interaction… What commitment did I earn? What did I get out of this? What follow up was set that will grow my business? By the way, saying you will talk to them in 4 months is NOT a commitment, that’s “I am not interested in doing business with you”. Look for the incremental commitments… for example, I am going to research solutions for refinance by tomorrow, or we have another meeting in two weeks to discuss the benefits of investing in rentals. That is a commitment.

2. What are the defined steps and timelines around these commitments?

  • This one is EXTREMELY important. Top brokers with a commitment orientation to their client interactions, get specific. They attempt to build a timeline around the commitment. What am I doing in two days to produce the outcome that will lead to the greater commitment of a sale? What dates did I set? When will move this to the next level?

3. Did I confirm commitment in writing and add some value to my client?

  • This is also incredibly important. A client will commit to you in the moment and then move on with the “busy work” of life. The most effective way to get to the next level of commitment is to confirm the small incremental commitments in writing. It also gives you a tremendous opportunity to add additional value to the conversation. It builds a second contact into a single incremental commitment. This can be as simple as a follow up via email, a personalized LinkedIn invitation, etc…and then be specific…. “I agreed, you agreed, we agreed to do”…or “we agree to connect again in a week and have this specific next conversation”

The fact of the matter is, you can’t just do this once to experience top performance. This approach has to become part of the culture of the brokerage and part of your committed sales approach with all clients.

How did we know this was successful for us? When we had agents both new and veteran, wandering around the office, holding each other accountable and asking each other things like, “hey, what commitment objective did you get out of that call this morning?”. That was when we knew this was working. Too often we think, hire an agent, bring them in, tell them to go, and reap whatever benefits you can get out of the splits. Then we wonder why X brokerage is performing at double the clip we are.

I can tell you why you are in the middle, because we DO need culture in our business, we DO need brand, we DO need unified approach to set ourselves apart. You might think your agents are just a means to more volume bonus, but the top brokerages understand that as a team, as a squad as an entity together, true top performance is born.

This is how you achieve breakthrough mortgage sales in today’s competitive marketplace.

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