How do you create instant rapport that puts you in control and your borrowers at ease ?
Build trust by talking about the “monsters in the closet”.
What are the monsters?
In the mortgage industry there is a little thing called refinancing or closing cost… or ,”Do I have to pay for an appraisal?” or “Is there some other hidden agenda here?”
So the best thing to do if you had a four-year-old child would be to go in the room, instead of yelling, you know, “My God there’s a monster in the closet. Let’s all run away from it!”… You would open up that door, turn on the light, and just show them that there’s no monster in that closet. And that’s exactly what you should do with a consumer. You should do that early on, prior to them having to bring it up. If you know that likely they’re going to be afraid of closing costs, likely they’re going to be afraid of refinancing, likely they’re going to be afraid of some antiquated process, or some sort of or some sort of hidden agenda, you need to bring that up and put that out on the table right away. Open the door and turn on the light.
What you should be doing is establish an open line of communication where you can get information from borrowers to make good decisions.
In this short video, Head Monster Ken Bartz explains exactly how to deal with the monsters in the closet, become a trusted adviser and close more deals.