COMMENTS: Lending on Southern California property preferred
General Information .................. info@windstonemortgage.com .........................................949-492-0400
WINDSTONE MORTGAGE CORP.
Loan Submissions ................submit@ windstonemortgage.com .........................................949-492-0400
Investment Opportunities: Joseph A. Kenney, President
......................................... invest@ windstonemortgage.com .........................................949-698-6510
WINDVEST CORP.
www.windvestcorp.com
3131 Camino Del Rio N., Suite 310, San Diego, CA 92108 .............................................877-285-0777
COMMENTS: Specializing in fix and flips, rehabs, income producing and rental investment properties
throughout Southern CA. We lend on SFR residential and commercial property.
Professional service with funding in 7 days
CA: Andre Jimenez, Vice President, x203
CA: John Ermin, Asset Manager, x205 john@ windvestcorp.com.... Fax 619-285-0741 ...... 877-285-0777
Scotsman Guide makes every attempt to ensure the quality of matrix and directory information, which all listed lenders verify or update monthly. Because of the production cycle and dynamic nature of the industry, loan product
terms and availability may not reflect the latest changes. Please contact lenders directly for the most-recent program details. If you believe data is inaccurate or misrepresented, please e-mail: matrixfeedback@scotsmanguide.com.
« tools & tips »
By William L. MacDonald President and CEO PleinAire Strategies LLC
Slow Down to Speed Up Sales
Avoid the temptation to move through the decisionmaking process too quickly
The mortgage industry has up- ended itself in the past few years. Since 2008, we’ve hit an
economic brick wall, girded by new restrictions, tight credit and few qualified buyers. Worst of all, the bonds
of trust we once knew in business appear all but dissolved. Homebuyers
and homeowners are scared and need
someone to guide them through the
mortgage process.
“After you recommend
a process, generate all
the alternatives that help
your prospects with their
decision. This helps you
slow down to educate your
prospects and, ultimately,
speeds up the sale.”
Let me share a personal story.
Recently, I was in the market to refinance my own mortgage loan. My experience illustrates several key points
about selling in this environment.
First, I was struck by the intense
interest in my transaction. My financial planner, my banker, my insurance
agent and my stockbroker saw me as
the ideal prospect for a jumbo loan.
I met with three seemingly qualified
mortgage sellers who were recommended to me.
All three were effective at building
rapport; they each came to my home
for a personal meeting. But each one
made the single most common mistake
that salespeople make: They jumped
too quickly from rapport-building to
product sales and began quoting rates
based on five-, 10-, 15- and 30-year
loans. They never considered where
I was in my decisionmaking process.
They ran me through their sales process, rather than joining me in my buying process.
It’s important that mortgage originators slow down to succeed and understand the power of process. When you
slow down to educate clients and ask
more questions before you pull out alternatives, your success rate will rise.
A simple, five-step process can help
you pace your rhythm with that of your
borrowers:
1.;Magnify;your prospect’s situation.
Look up public records to find clients’ complete history of mortgages
and properties owned. And from
there, build a background profile
from all available sources.
2.;explore.;The three brokers I met could
have asked a number of questions
about my objectives and my experiences with various loan types. This
would have been an excellent spot to
educate. By giving me the pros and
cons of different loans, they would
have helped me better understand
the market. They could have shown
me what rates have done in the past
and given me a sense of the future.
Think how easy it would have been to
ask potential clients:
• other than loan interest rates,
what are your current loan
concerns?
• how;is;the;service on;the;loan?
• do;any;financial advisers or;ac-countants help you make decisions on matters like this?
• do;you;have;a;future;date;when
you would like to see this loan
paid off, or are you thinking of taking advantage of the low-interest-rate market for the next five years?
• do you plan to sell your home
in the next five to seven years?
3. Recommend. This mortgage triad
could have won points with me if they
recommended a process I could fol-
low as I approached my decision. If
they had suggested a process and
assured me their job was to look at
all the alternatives — even if their firm
didn’t sell a certain type of loan —
my trust and confidence level would
have soared. The best solution is to
define and differentiate yourself in
ways the prospect recognizes as im-
portant. By connecting with the cli-
ent’s buying process, you differenti-
ate yourself right into a sale.
William L. MacDonald is president and cEO
of PleinAire Strategies LLc, a global sales
and marketing firm based in San diego, and
author of Merge: Simplify the Complex Sale in
Five Surefire Steps. download a free chapter at
pleinairestrategies.com. contact Macdonald
at bill@pastrategy.com.
