6 Ways to Avoid the Holiday Sales Slump

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6 ways to avoid a costly holiday sales slump

The big slump. That’s often what the holidays are for sales professionals. That may even include even reverse mortgage originators (gasp).

Years ago when working in financial services fellow agents would often ‘go dark’ in December. This was before the age of social media so no ‘proof of life’ photos were available online to soothe my fears that perhaps they had been placed into witness protection or worse.

The truth is too often many believe that no one will be available or wants to hear from them during the holiday. Okay, certainly you could say that on Christmas eve or Christmas day. Beyond that, the need and interest in the reverse mortgage may be heightened as expenses mount, and bank balances dwindle. Perhaps the cash stuck in the bricks and mortar in their home just became that much more important.

A slump in sales in December would certainly be felt in February. With that in mind here are some practical strategies to have optimal engagement with potential borrowers:

  1. Send a holiday greetings email to those who’ve closed a loan, those who didn’t, and especially to those who are sitting on the fence. Don’t ask for a sale- just include a short and heartfelt message.
  2. Mail a Christmas card to your top referring professionals. Attorneys, CPAs, and realtors still maintain the tradition of sending holiday cards and are accustomed to receiving them as well. Address your envelopes in your own hand. (See #6)
  3. Host an open house event. It may be too late to squeeze a date before Christmas, but you can certainly host a New Year’s themed event. Remember the purpose of your open house is not to make sales but to express your gratitude and stay top of mind.
  4. Email gift ideas for several age groups. While few will admit it, often we find ourselves stumped to find the perfect gift for that special someone.
  5. Schedule appointments for the new year. If all else fails, schedule a meeting in January after the holiday frenzy has settled. Be sure to make a note in your CRM or calendar to remind them 5 days before your meeting.
  6. (BONUS): Send a New Years’ card. For the new year? Indeed. You will stand out head and shoulders above the glut of Christmas cards sent by other businesses.

These are just a few ways to beat the holiday sales slump. What strategies would you add to this list? Leave your ideas in the comment section below.

Nobody’s Listening!



Why we feel ALONE



As a reverse mortgage professional do you feel you’re out on your own? …

Fanatics & Followers


What is the difference between a ‘follower’ versus a disciple (fanatic) in a sales organization?

8 Tips for 2nd Wave Selling


[3-minute read]

The long-predicted second wave of the coronavirus pandemic is now ramping up across the U.S. Even in my small town of 95,000 we had over 300 infections just this last weekend. Understandably, under these circumstances, the proverbial kitchen table is off-limits, but we can set up a virtual table and prepare for the virtual sales season.

Here are 8 tips to help you get the greatest success from your remote sales:

  1. Once you secure a virtual meeting, email the homeowner the link to join a Zoom meeting you have already scheduled. You may also want to include a link to a short how-to video showing the basics of how to use Zoom.
  2. Don’t wing it. Each of your sales presentations should have a beginning intro, a middle, and an end where you wrap up the session for the next steps. Map out your plan. The benefit of virtual meetings is no one sees what notes you’re reading.
  3. Prepare any reverse mortgage quotes, illustrations, and charts. Keep any materials in a folder on your desktop for easy access. Do not reveal the names of other clientele on your screen otherwise, you will lose their trust as they fear others will see their name as well.
  4. Face the light. Natural lighting is not your friend. Your light source should be coming from in front of you. Close nearby blinds and dim overhead lights when necessary. If you’re using a virtual background, have a blank wall behind you for the best effect.
  5. When possible use a good microphone. Investing in an external mic will give you a fuller and warmer sound and avoid you looking like you forgot to remove Q-tips from your ears if you’re using the latest ear-buds.
  6. You never wanted to be a TV star? Well, you are one now…at least for each homeowner who flips open their laptop to chat with you. Practice looking straight into the camera, the use of hand gestures, and when to share your screen, and when your face should be full-screen.
  7. What is your first sale during your virtual meeting? What’s your second sale? How can you measure attentiveness and trust? These are the issues you will be mindful of before, during, and after each session.
  8. Secure an appointment for a second meeting before you disconnect. Follow up with each prospect using an engaging motion email with a short video message. Loom is your best bet to capture the interest of prospects.

Here’s what truly motivates change


[2-minute read]

Social philosopher Eric Hoffer wrote, “discontent by itself does not inevitably create a desire for change”. Each and every one of you who has sat face to face with a skeptical homeowner can nod in agreement.

There’s much discontent to appeal to for those who’ve found themselves feeling shortchanged by the American Dream. Perhaps it was a financial shock from a chronic health condition, the death of a breadwinner or losses suffered in the stock market. These are significant and tangible reasons why millions of retirees find themselves stressed, unhealthy, and lacking the funds required to maintain a comfortable standard of living.

Why pain alone never sells

[read more]

If discontent is the kindling, then hope is the match that ignites the fire. The older homeowner must have some level of faith that a reverse mortgage is a safe and viable solution before ever entertaining the notion. They also must have the hope of a better future without the crushing burden of mortgage payments and envision how a reverse mortgage will improve their remaining years.

Discomfort and fear are poor motivators without hope. Successful political candidates have latched onto the theme of hope to motivate the masses. So why do so many homeowners endure years of financial want and angst? Perhaps the answer is found in routine such as forty-years of dutifully paying down one’s mortgage so they can retire mortgage-free. That routine staves off the pangs of insecurity we face in our working years when contemplating retirement. When presented with a ‘radical’ alternative that security is threatened and for many, a reverse mortgage can appear to be a radical solution.  

Reverse mortgage professionals can be likened to sherpas guiding their charges across chasms of uncertainty and ruin.  Will they balk, question, or outright resist? Certainly, and it’s quite a natural response.

During these moments of fear and hostility to change lead them toward hope. The hope of a better future with significantly fewer financial worries. The hope of rewarding themselves after investing their entire lives in others. For in the end, it is hope that pushes us beyond our fear or acceptance of the status quo.

How can you incorporate hope into your marketing, sales, and business model? Share your ideas in the comments below.

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Hey! How are you?!


[2-minute read]
“Hey. Remember that time when we met and talked about a reverse mortgage 3 years ago and you said no? Do you want to talk again?” That approach would be somewhat believable if it were from a Saturday Night Live skit. No reverse mortgage professional with a functioning cerebral cortex would ever utter such words. However, it’s easy to find oneself saying something that while less abrasive, pretty much reflects the same sentiment- ‘you said no and I can still help you’.

While you typically ‘think in reverse’ 16 hours each day your previous potential borrowers do not. In fact, count yourself lucky if they even remember your name. For the handful of you reading who kept in touch with newsletters, birthday cards, or phone calls- congratulations. [read more]

Our once-normal lives are changing at warp speed. Many older homeowners could find themself facing a financial crisis after being laid off or no longer receiving dividend income from their stocks. Would these unfortunate events cause them to think of you first, pick up the phone, and spill out their problems? In rare instances yes, but not likely.

And this is where a better approach gets you in front of an informed, motivated, and qualified prospective borrower. Here’s one example.

“Hello, Mrs. Hayes. This is Shannon. We met last August. Yes, before the coronavirus. How are you? The reason for my call was to check in and see if anything has changed for you since we last spoke.” Briefly mention any important facts they shared during your first meeting.

After that, it’s your turn to actively listen and take notes.

They may say ‘not much’ or ‘nothing’ in reply to your query. They may explain that they’re concerned they’ll run out of money because of the virus’ impact on our economy. Regardless, there are three things you’ll want to say. First, interest rates are at historic lows which means they stand to qualify for more money. Second,  home values may be at their peak which increases their ultimate cash benefit. Third, ask how they feel about their accumulated home equity? Do they consider it to be safe? In an ideal world, what would they like to do with the equity that’s grown over the years?

If they insist they don’t need to further explore a reverse mortgage, ask them if they know anyone over 60 who may benefit.

You may have noticed that this ‘check-in’ call gives you the opportunity to ask open-ended questions and listen to learn what financial pressures they face. Keep it casual and empathetic. Your two goals are to actively listen and then schedule a follow-up meeting (in-person or remote) to explore a reverse mortgage when suitable.

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Threats Seen & Unseen

senior health home equity retirement


Are we missing the signs of tangible threats to our potential borrowers?