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Ask for the Business
By Jay Conners
3 Ways To Overcome pricing Challenges
How many times have you had a customer say to you; IЎЇve been shopping
around and XYZ mortgage company can get me a better rate and wonЎЇt
charge me any points.
well . . .
The lower rate might hold some truth to it
but lets face it . . .
Nobody works for free!
Here are three things you can do too win your customer over when faced with
rate and pricing challenges.
1. Sell Yourself
When a customer is shopping around, the information they give you is usually
false, because they are bluffing. You canЎЇt blame them, they, like all of us, are
looking for the best deal possible.
With this in mind, tell them what you can offer them based on what limited
information they can provide you with.
During this process, stick to your guns, and give them all the information you
can about as many products as you can, this will let them know just how
knowledgeable you are, and you will earn their respect.
DonЎЇt waste your time asking questions about the programs offered to them by
other banks, and telling them the rate they were quoted was probably an ARM,
they will find this an insult to their intelligence.
Be as courteous and honest as possible, tell them if XYZ bank can get them
the rate they quoted you, than they should go with it, they will admire your
honesty.
Finally . . .
Ask them for their name and phone number so you can follow up with them in
a weeks time, and assure them that they can call you at any time with any
questions or concerns they may have.
2. Availability
When confronted with the challenge of having to deal with your competitorЎЇs
lower rate, make your customer aware that although you might not be able to
match the rate, what you can offer them is superior customer service.
If you take this route, you must be committed to it.
Let them know that they will be able to call you any time, night or day. You can
start by giving them your office number, as well as your cell phone number.
Let them know that you will be more than happy to meet them one on one at
your office, or you can arrange to meet them at their home at a time
convenient for them.
Clients like to know that they have an advocate they can trust and depend on.
Supplying them with this comfort zone means a lot to them, and more often
than not will win them over.
3. Buying Time
Sometimes you need to buy time in order to prepare yourself.
When a prospective customer hits you with the rate obstacle, the challenge
can be a tough one!
Tell your customer that the rate they have been quoted is a very good one,
and that you would like to do some research to see if you can possibly come
up with a better one.
Take their number and assure them that you will call them in no less than
twenty-four hours at the most.
When you call them back, you will be prepared with the information you have
gathered on the products you are going to introduce to them, along with
possible rates. Even if you are unable to come up with a better rate, they will
be impressed with your knowledge, and best of all, the effort you were willing
to put forth!
About the Author
You can learn more about the mortgage lead industry and how he became involved in it by visiting his site at http://www.jconners.com a mortgage resource center. He also owns http://www.callprospect.com a mortgage lead company.
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