Trust is built. Here’s how to keep it
Trust. How do you earn it and what telltale signs do your potential borrowers look for? Too often HECM professionals can fixate on education and persuasion forgetting the fact that getting a Home Equity Conversion Mortgage may be the largest financial transaction their prospective borrower will make.
1. A piece in the puzzle. Before recommending a reverse mortgage to the homeowner, you must first uncover their unique situation. What are their concerns? Do you know how long their savings will last? Is there a bona fide need? Focus in solving their challenges, not selling a product.
2. Keep your promises. If you break your promise to arrive on time, you have already eroded the homeowners trust. Arrive on time, answer your…
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3 Comments
Hi Shannon, your “Are You Trustworthy”?
Friday’s Food for Thought was excellent.
I always try very hard to follow all 5 of your points, especially “Eat The Frog”
Owen
Thank you Owen. Frog-eating is efficient yet unpleasant. We appreciate your support!
Some think a CRMP will create an atmosphere of trust but who even knows what those letters stand for unless they are in the industry or a relative of a CRMP?
We must never forget that while trust can be testified to, it must be earned through action. While referrals help, they do not generally establish long-term trust.
Those who rely on product knowledge and good service over trust will have a difficult time originating. Without the trust of the prospect, originating reverse mortgages can become a very cruel taskmaster.