The business coach for mortgage brokers is a name I was given after the amazing results achieved by one of my clients – The Mortgage Broker Ltd – 5 times their original sales after 3 years of coaching, even at the height of the credit crunch. Since then I’ve gone on to coach several other mortgage broker clients from London up to the North East.
It seems that the majority of brokers have got their heads down and spend so much of their day thinking how bad things are, they don’t have much quality time left for selling.
One client, a mortgage broker in London, was telling me recently how his team are selling far more insurance now than previously, even when they don’t get the mortgage. The strategy is very simple – if you can’t source them a better mortgage, don’t try to flog them a rubbish one, just treat customers fairly! Hmm, treating customers fairly – that sounds familiar…
Tell them the best deals available for their circumstances, even if you make no money from it. Put yourself in the client’s shoes – how much good will does this level of honesty create, especially when mortgage brokers have takes some bad press lately. Then make sure you understand how to do the insurance sale the right way.
I used to hate the sales pitch for life insurance, until I realised that everybody who sells it has ample life cover themself. It makes sense – there doesn’t need to be any kind of hard selling done, which is where so many go wrong.
How the top 20% of mortgage brokers sell around 80% of the life cover…
Used properly and with integrity, disturbance selling is the right way to wake people up to the responsibilities they would leave behind if they suddenly died. So when you walk away without selling a life policy, are you giving the client what they need, or are you avoiding learning how to sell life insurance properly?
Consider my services to be protection for brokers in the credit crunch! Here are some questions that might cause you some disturbance…
1 – How many months will your business survive if the market gets a bit worse each month for the next 6 months?
2 – If you work very hard and long hours for a living, how will you feel when your kids leave home and you realise you’ve missed the best years with them?
3 – What is your overall business goal or vision, and when will you achieve it?
It’s only 1 free session, but if you have noticed the credit crunch and don’t like the effect it’s having on you, what are you doing that you know will help you protect your livelihood?