Is Anybody Home? Focus In Client Relationships

Undivided attention

During a recent consultation with a coaching client the discussion turned to the topic of focus and how to stay on task when there are so many potential distractions in a given day. This got me thinking……

Having been a speaker as well as an attendee at many mortgage industry and senior related functions, I can’t help but notice how more and more, when the speaker is presenting, much of the audience is engaged in other activities. No this is not a commentary on the speaker himself, quite the contrary. It seems that we are all so concerned about staying connected 100% of the time, that we could miss a good presentation or discussion. When you are part of the audience, you have taken the time out of your day to attend a presentation- so really be there! You just may walk away with a nugget of marketing information that will help you build your pipeline. Put down the blackberry, the i-phone, the Droid, the (fill in other name of gadget here) and be there.

Client Focus

The same goes for the time you are spending with your senior clients. Personally, I love it when my clients tell me the story of their life. It often affords me great insight into how to best present the reverse mortgage and its benefits. I am not looking at my watch (or worse, my phone) while we are talking but rather devoting my full attention to them. I take notes and nod from time to time to show that I am paying attention. I ask leading questions to spur further conversation. Being 100% focused on the client during any interaction distinguishes you as a true professional, not just another loan officer. Try this in your day to day appointments, put down the phone and focus on what is taking place right there and then. You just might learn something!

 

A Strategic Plan…One Step At A Time

Reverse Mortgage Plan, Reverse Mortgage Management,One of the most common questions I get as a reverse mortgage coach is “how do I formulate a plan”? Yes it can be a big undertaking but it doesn’t have to be so difficult and complicated that you end up not doing a plan at all (you know when something appears just too difficult we end up doing nothing at all because we can’t get started). I like to break a plan down into manageable steps.

For instance, if I was looking at the marketing segment of my plan today, I’d focus on referrals. Why? Very simple- the answer is staring right at you! The big banks have for the most part, left our industry. What does that mean for me? Opportunity, plain and simple. There is a significant opportunity for you to take advantage of this reality. Where are all the reverse mortgage borrowers going to go now that the big banks are no longer offering reverses? Well they may as well come to you!

What are you doing right now, today to ensure that you get a share of this business? Are you utilizing your CRM? There is one activity you better be implementing at once if you are going to attract these customers. Not sure what that is? Look around, it’s right there in front of you, right down the street. Just take that one step, get out there and help some seniors and pick up that is waiting for you….today.

 
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Loan Limits Didn’t Change…But Does It Matter To Me?

HECM Loan Limits, Lending LimitsThe good news is we just heard that the HECM loan limits will remain the same through December of this year. I’m sure there are many out there who are breathing a little sigh of relief as it buys you some time to get those higher value property owners to get their reverse mortgage in process.

To me it did not really matter, and not because I live in an area that is not affected by the lending limits. I am in Baltimore, a stone’s throw from Washington where the property values have not suffered as much as in other areas of the country. No, the reason it would not affect my reverse mortgage business either way is that I have a plan. And I stick to that plan. Look, there will always be market forces outside of our control. You can beat your head against the wall when something happens, or you can continue to work your plan.

I am certain that those who have a written, detailed plan and are using a coach of some sort to hold them accountable to that plan are going to write loans no matter what market conditions may be. They accept that there will always be some regulation or other occurrence that is out of their control and they move on. What are you doing right now, today to be certain that you will not be sidetracked by things you cannot control? Stay focused, stay on track and continue to help our seniors. They need us now more than ever.