Have you defined objections?
post by Sam Collins

Basically an objection is a statement made by your senior prospect that they want to know more.  Of course, objections don’t come out sounding happy, polite or saying give me more information.   Come on, your senior prospect is not going to make it so easy on you!  In most cases, the objections are real and in their minds they have  no clue they’re just asking for more information. 

It’s your job to realize when you hear an objection to ask  for more information and next to do something about it!

Objections can be broken down into minor and major categories.

Minor objections are those your senior clients will use to slow you down.   Don’ t take it personally, they just want some time to think things over and absorb what is being said and done.

For example, you are making your presentation to  two borrowers.  One seems to like what you have to say, the other is putting up road blocks for you and  the more supportive borrower.   Often the supportive one will join in the objection arena to gain support of the other less supportive borrower and work toward a mutual understanding while the other major objector is gathering their breath, thus allowing the objector to not feel bad and become accepting.

I might note that some objections are major and  justified.  Your job is to make the objection understandable by showing empathy and understanding.  By all means do not try to shove an objection under the rug.  Avoiding an objection will establish you as just another salesman and your credibity as a senior advisor will vanish.

Are you a master at handling objections? 

Here is a simple approach to add to your master reverse mortgage professionals status:
1.  Write down every possible objection you think.
2.  Write down the possible solutions.
3.  Write down the ones with no solutions.
4.  Write down possible remedies for the no solutions.
5.  Plan a follow up procedure for those senior clients who raise objections and you feel you may not have handled.
6.  Revisit where you went wrong in handling the objection  and fix it!

Accept objections as your means to an end…loan closing!

Remember, keep mvong forward to stay ahead in reverse.
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Join me this  Tuesday  to learn how you can “Break the Communication
Barriers” in your reverse mortgage business.  Your key to survival is
all about how you communicate better with your senior clients.