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Consumer-Centric Fact Finding versus Selling

Growing up as a child I remember my father reminding me periodically “It’s not about you.” This admonishment is key for us to develop successful personal relationships and more practically with our borrowers.

Sitting down at the kitchen table with hundreds of older homeowners and countless business presentations this simple, yet direct principle can easily be lost in one’s zeal to present, persuade and influence. These motivations can blind us to one of the keys to successfully determining if a reverse mortgage is in fact the best course of action.

Today our prospects have more power than ever with better product knowledge, the ability to conduct research online and social media. Here are some principles to keep in mind as we work with older homeowners considering a Home Equity Conversion Mortgage.

1- Interview them first. Avoid the temptation to jump into the storied history of the reverse mortgage program, margins, the index and non-recourse clause. While important…

Download a transcript of this episode here.

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