Let’s face it. As salespeople, we often fall into the trap of explaining the features and benefits of what we are selling. Sadly, many of you reading this may be turning away potential sources of countless loans and homeowners.
That may have worked for some who had a product with tangible results. Think of the Sham-Wow guy. He can sell features and benefits all day long because you can see the end result. The problem is we are not selling a widget, a polish, or an amazing rag. We are selling a concept. The concept of what a Home Equity Conversion Mortgage could possibly mean for the homeowner, a financial advisor, or realtor.
How we describe what we do became clear during a previous interview with Don Graves. He hits the proverbial nail on the head! As Don says “you have a way to eliminate the stress in their [advisors] life”.
“If there was a resource that allowed your clients to increase their cash flow, reduce their risk, preserve assets, improve liquidity, or even add new dollars back into their retirement savings- if there was a resource like that- what percentage of your clients would want you to tell them about it?”
DON GRAVES
“If there was a resource that allowed your clients to increase their cash flow, reduce their risk, preserve assets, improve liquidity, or even add new dollars back into their retirement savings- if there was a resource like that- what percentage of your clients would want you to tell them about it?”
Notice anything? Don is not diving into the intricacies of how a HECM works, the eligibility requirements, or even the specific benefits- he is creating a vision in the mind of the advisor of what the HECM could do for the advisor and their existing clientele. It’s powerful!
Perhaps you have your sales approach nailed down or you’re already successful in capturing the interest and imagination of outside sales professionals. But if you’re not, then it’s time to ask yourself why are they not interested and what am I telling them?
4 comments
This is awesome 🤗🤗
This is an excellent closing with financial advisors.
Here is another one for individual homeowners: “If you don’t do this (Reverse Mortgage”, what are your other alternatives, and are they as good?”
Dick,
Great suggestion! Asking a question makes them think and they will come to the right conclusion when asked in this manner!
Although we do not always agree on content, Don has a way of inspiring others that few have. His goal is to change minds through driving their imagination. It is effective and a much preferred style of education. I admire Don’s skill in this regard.
I have never seen Don try to persuade by following the tired and uninspiring way to defining a reverse mortgage by telling people “how the sausage is made.” He understands the concept of elevating people’s thinking to the 30,000 foot level. His style is more executive summary that does not get bogged down in the mud and weeds.
There are few of us who cannot learn from Don.