Title tools, technology & current trends

We spoke with Allisa Scott Prieto of Premier Reverse Closings. Watch as we discuss new technologies, online title tools, off-site signings and closing ratios. Title companies like PRC do more than issue policies but also provide a wealth of research tools for the reverse mortgage professional.

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Attitude Adjustment

What if it was as easy as ‘flipping a switch’? There are many things that can affect our attitude. Many have expressed to me their concern about future changes in our industry. Will the changes be tolerable? Will it decrease the pool of qualified reverse mortgage borrowers?, etc. etc. It can be tough if we become consumed with these things.

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Where do I fit in?

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Where Do I Fit In? Rethinking “Sales” as not a dirty word.

For many people, one of the dirtiest words in the English language is spelled s-e-l-l. The image of the used car salesman or a telephone huckster evokes apprehension and distaste.

Yet everything in life involves “sales” in one form or another. How did you build the new fence in front of your house? Somebody had to sell you the wood and nails. And before that, a supplier had to sell these items to the lumber company or hardware store where you purchased them.

It’s amusing, if you think about it: everybody loves a “sale”, but add an “s” and the word assumes a negative connotation. So this is the first misperception to recast.

Sales, according to Shannon Hicks, vice president of marketing and product development for ReverseFocus.com, is best defined as: “Effective communication in order to help people make decisions in their best interest.”

Next, determine your optimal sales skill set. As a reverse mortgage professional, are you most effective on the telephone or in person? Speaking one-on-one, or to a group? Playing to your strengths will enhance your success.

The core sales traits include:

  • persistence
  • confidence
  • motivation
  • education

Beyond this, a plethora of personality factors will determine your approach. Take an inventory of your strong and weak points when relating to others. If you find you’re more relaxed and articulate over the phone than in face-to-face meetings, for example, plan to do the bulk of your reverse mortgage counseling by telephone or Skype session (if your prospects are Internet savvy).

There’s no need to force a square peg into a round hole, especially when everyone shines in certain areas. People who excel as motivators can be formidable in captivating a large audience, while educators may be better suited to building kitchen table relationships.

We have aspects of each core trait within us, and can certainly work on developing our weaker areas. Knowing where your strengths lie will also affect how resourceful you are in building your business: if you accept that you’re not a powerful lead generator, for instance, it may behoove you to partner with a lender who provides leads, rather than frustratingly trying to go solo.

The greater your self awareness, the more fulfilling the service you’ll be able to offer seniors to help them make the best decisions for their retirement years.

New York Times: Expose Examined

Ironic. That is on the eve of the National Reverse Mortgage Lender’s Association Annual Meeting in San Antonio the New York Times published a front page expose. After a year and a half of mostly positive press since the introduction of the HECM Saver has the media pendulum swung back to its traditionally negative view? And more importantly, does the article point out some legitimate issues that we as an industry must address?

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