Let’s face it. As salespeople, we often fall into the trap of first 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. Homeowners could miss out on a financial lifeline or a boon to their retirement years.
The tried and h 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 came to mind during a previous recent 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?
