Post by Sam Collins
Our recent REMALO surveys shows that the #1 challenge today in the reverse mortgage business is getting more leads.
This came as no surprise to me, since leads are and will always be the key to building your reverse mortgage pipeline. Herein lies the challenge. There is more demand for leads than there are leads.
I just recently wrote an informative article entitled ” Have I got a Lead for You ”
published in the July edition of the Reverse Review.
Many of you have already told me how instructive this article has been for you.
With so much information out there to absorb, I did not want you to miss out.
Here is what I suggest:
1. Go to the link below and read the article in it’s entirety.
http://www.remalo.org/members/535.cfm
2. Next, print out the article.
3. Review the fine bullet points that apply to your situation.
4. Evaluate and implement your own lead strategies and compare them against
results and cost effectiveness.
The #2 challenge for you in your reverse mortgage business was competition. Seems like everyone who used to be a expert on the traditional side is now one for reverses. Continued competition trend is expected to grow more and more because the traditional (forward) business is being impacted by housing pricing and more stringent underwriting guidelines. Now couple this with expected higher rates, which are coming sooner than we might think. This means you need to step up your game to a much higher notch.
Having resources and the proper training in both sales and marketing are essential and key ingredients. We have recently added the HECM Training power points and our own 7 day E course, included for all REMALO members, plus we are on the cutting edge of offering more and more training, with our Workshop this Wednesday, all about over the phone selling of reverse mortgages. If you have not signed up, get registered today.
