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[vimeo id=”47676250″ width=”625″ height=”352″]
Teaching Prospects How to Shop for a Reverse Mortgage Originator
It seems strange to tell a prospective borrower how to shop for a reverse originator. We often find ourselves on the phone or face to face with a skeptical potential borrower. That’s fine. It’s part of the process. Here’s how you can build your credibility while removing the pressure.
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Editor in Chief: HECMWorld.com
As a prominent commentator and Editor in Chief at HECMWorld.com, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.
Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.
Readers wishing to submit stories or interview requests can reach our team at: info@hecmworld.com.
6 Comments
Shannon,
Would you be willing to e-mail your list of RMLO qualifiers to me?
I think I’m going to incorporate it into my presentation, especially when I’m meeting with a family that I know is “shopping”.
Thanks!
I don’t have that list yet… But you could use the points in the video to build your own if you want. I will work on one and will email you once I have it. Thanks again for watching every week!
Hey Shannon,
We learned how to turn purchased leads from Senior Lending Network (“SLN”) from cold calls to warm calls. At first we did what SLN recommended and our success rate gave us a minimally OK return.
We then added a letter writing campaign and changed some of their recommendations. My wife hated making the initial call the SLN way but the letter campaign changed that.
Rather than boring everyone to tears with the details, our first letter introduced the lead to us as professionals and to a limited degree as individuals. So when my wife called, they had a way to link her name to the company which Robert Wagner advertised for even though it was clear she worked for yet another company. While our close rate did not go up 100%, it went up by over 50%. Making calls to leads and eventually prospects was a much more pleasant task.
I would like very much a ist of your “bullet points” mentioned in the video to create my “checklist” for borrowers. I actually had something similar when I worked as a RMC for Wells Fargo. Great advice!!!
This is an excellent suggestion,. I host two radio shows in Lake County called “The Reverse Mortgage Show” for one laf hour every two weeks. May I use your suggestions on my live call in radio show(s)? I always enjoy your presentations, look forward to them each week.
Thank you for the good work!
Thank you. Yes by all means please use ‘the list’ on the show. So exciting to hear you have two radio shows. Feel free to post a link to any replays if the station has them.