Consistency is Key! Use Mortgage Coach with every prospect!!

Christine Strategies

Congratulations! You’ve decided to step up your game and make good on that New Year’s resolution to start using Mortgage Coach. So now what? Mortgage Coach is a powerful tool! It has a LOT of functionality, but the good news is you don’t have to become a master overnight to start benefiting from using it in your business today!

This is the first installment in an ongoing series of strategies we’ve compiled to help you get the most out of your Mortgage Coach membership. So where should you start? Each installment will contain an actionable strategy you can start using now. Don’t worry: you don’t need to do every strategy. Start with a few that strike your fancy. Heck, start with one and practice it religiously for a week, then add more as you gain mastery. Bottom line? To steal Nike’s tagline, “Just do it!”

Strategy 1: Consistency is Key! Use Mortgage Coach with every prospect!!

We continually poll the top Mortgage Coach users and we found a common theme: top producers make Mortgage Coach a part of their sales process and they create a Mortgage Coach experience for EVERY single borrower.


Mortgage Coach Experience

You wouldn’t skip your CRM. You wouldn’t skip your Loan Origination System (LOS). So why would you skip Mortgage Coach?

The most common excuses we hear are, “Well, my client only qualifies (or wants) one product.” Or, “I only use Mortgage Coach with my more sophisticated clientele or those with mortgages larger than $400k.” The reality is, if you don’t present to every client, not only are you doing them a disservice—who doesn’t deserve to understand the total cost of their mortgage or potential reinvestment strategies they can use to achieve their financial goals quicker? — But you’re also missing out on potential referral opportunities and leaving money on the table.

To overcome these internal objections, let me share some ideas:

If your client only qualifies for one product or they are only interested in one product, consider showing them the “Points vs No Points” presentation. Or, show them a simple way to shave years off their mortgage with the “Skip the Bagel” presentation.

With the “Skip the Bagel” presentation, you can show them how by shifting money they’re already spending everyday (on a bagel, coffee, cable bill, happy hour, etc.), by moving that money—say $150 per month—and using it to pay down their mortgage or accumulate savings, they can potentially shave six, seven or more years off their mortgage.

Who wouldn’t benefit from the kind of advice that looking at their mortgage slightly differently, can save some serious cash over the life of their loan? If you think the Mortgage Coach experience is more sophisticated for some clients, keep it simple! Focus on the Freedom Point—the period at which they can be mortgage free.

Mortgage Coach is about differentiating yourself from your competitors. The industry is cluttered with plenty of people like Larry Loan Officer who bases his entire sales pitch on rate and fees and closes 1 or 2 transactions per month. Your goal should be to become Suzy Superstar who is a Trusted Advisor to her clients and hits it out of the park every month with a consistent pipeline.

In summary, the key to becoming successful with Mortgage Coach is consistency. Consistency is key! Make it goal to create 10, 20, 50 Mortgage Coach experiences per week – 2, 4 or 10 per day. The number matters less than identifying a goal and sticking with it. And don’t limit yourself to current prospects.

The great thing about Mortgage Coach is that you can use it as a soft-sell for just about anyone: friends, family, realtor partners or peers at church. Anyone you know who could benefit from a complimentary analysis is a candidate.

Whether or not they are in the market for a mortgage, you can provide insights and advice so that even if right now they may not be a good candidate, they’ll be so WOW’d by your presentation that they will be sure to use when they are a viable candidate or even better, they can refer you to someone who is!

Happy hunting!