Sam Collins | REMALO Marketing Blog

Posts Tagged ‘Sam Collins’

I’m not ready now to do a reverse mortgage!

Sunday, March 14th, 2010

I’m Not Ready Now to do a reverse mortgage!
post by Sam Collins
save-stop

Have you ever been on an appointment and knew before going that the reverse mortgage for your senior clients really made a lot of sense and you would return to the office with a signed application?

Oops, Rule #1. Our Senior Clients are not on the same schedule as us. Last week I visited a Senior couple and everything seemed to be going just fine, until I asked if they would mind proceeding with an application. To my amazement, everything changed. The protective blinders went up and the client was saying that they will have to think about it! If you have been doing Reverse Mortgages for a while, I‘m sure this has happened to you. So, what do you do?

My approach is simple. I back off. I turn the conversation around and start asking some additional questions. I remove the application. My conversation will turn to them. I may ask, “I know this is a big decision, would you mind sharing with me your concerns?” Now, the flood gates open. The client may share several things with you.

Here are some of the typical concerns of senior prospects

1. I really don’t want another mortgage.

2. This whole thing sounds too good to be true.

3. My friend told me not to even consider a reverse mortgage.

4. I have enough money now, I am not really sure.

5. I am concerned about leaving a legacy.

6. I don’t like the idea of more debt.

7. How long does it take?

8. Looks like a lot of paperwork. Is this necessary?

9. I think it costs too much money?

10. I have to check with my accountant.

I am sure you can come up with even more reasons. Here’s the bottom line. You should have an answer for all of the above questions. The answer should be honest and forthright. Remember, do not revert to the “salesman” approach or you will surely lose.

Lastly, you now have given the client space and time to make a decision. Always carry a return addressed overnight package with you. Leave the package with the client, and ask if it is OK to follow up with them the following week. This follow up action sets the stage for them to at least consider a decision knowing that you will be calling them for an update.

Remember, keep moving forward to stay ahead in reverse.

Tags: Prospects, reverse mortgage, Reverse Mortgages, Rule 1, Sam Collins
Posted in Sales | No Comments »

Use Reverse Mortgage Case Studies & Testimonials

Thursday, March 11th, 2010

Make Use of Case Studies to Further Explain the Benefits Others Have Received using a Reverse Mortgage
by Sam Collins

Testimonials and Case Studies are strong tools for making a justifiable reason why your senior prospect would consider doing a reverse mortgage. Below is an idea (example) of one such case study…I am sure you have your own and could modify this approach for your own market and situation.

Reverse Mortgage Case Study
Julia J, 78, thought about moving after a stroke limited her husband Tom’s mobility. Stairs made it hard for him to get in and out of their house, and even though they both enjoyed gardening and bird watching, there was so much yard to take care of.

On the other hand, their ranch house was in good repair and completely paid for. It was a great location was within walking distance of a grocery store and drug store and their church. Their daughter lived just ten minutes away, and the neighborhood was filled with friends, old and young, who watched out for each other. A perfect neighborhood.

The J’s knew they could continue to live in their home if they made some modifications. They were leery, though, because of the cost and their limited source of ready funds. Since retiring, they’d gotten along on their Social Security payments and Tom’s pension. Their health care costs were ballooning, however. Jesse didn’t want to lose their home if it became impossible to make monthly payments. They started looking for a new place to live. Then they read about “reverse mortgages”.

The J’s qualified for a reverse mortgage of $150,000. They used $30,000 to have ramps installed, to replace the bathtub with a walk-in shower, and to move their flower gardens into raised beds that could be reached from sitting on the edge or from a wheelchair.

They’re going to take the rest of the money as a line of credit that they can draw on as needed. They will use it to pay for yard care and housekeeping assistance, for medical costs and for occasional treats, especially like more frequent visits to family and friends living elsewhere. And, don’t forget the grandkids.

“It’s so reassuring to have this cushion,” says Mrs. J, “and to know that should something happen to either one of us, the other can live here as long as they’re able.

“Our children have always loved this house for the memories it holds,” she adds. “Now they love it even more because it enables us to live the way we want-independently and comfortably.”
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Challenge yourself to recite your own stories. Put them in the press releases. Add them to your web site. Write an article for the senior center. Spread the word to your professional contacts. Of course, always seek permission from your client’s.

If you want to see 62 real life stories, check out this book available to REMALO members and written by real reverse mortgage loan officers.
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Remember, keep moving forward to stay ahead in reverse.

Tags: Case Study, Medical Costs, reverse mortgage, Reverse Mortgages, Sam Collins, Social Security Payments
Posted in General | No Comments »

How do you know?

Sunday, February 14th, 2010

How do you know if the company you are buying leads from is any good?

post by Sam Collins

Without leads we are out of business. Plus we all know in our business we need more leads than the normal business, because our sales cycle is long. For example, I was able to get a deal last week which happened after 3 years since my first contact.

This Wednesday we are having a special two hour Lead Extravanza ! The idea of hiring a lead provider prompted me to think what you should consider when you decide to hire a lead provider! Yes, don’t forget your lead provider works for you. Unless you get the results you want, then you must fire them and fine someone else.

Here are a list of things I think you should consider when hiring a lead provider:

1. Cost; can they tell you what a lead is really costing?

2. What is their track record?

3. Do they understand the reverse mortgage industry?

4. Are they compliant? In other words, do they use best marketing practices as suggested by the FTC?

5. Do they have a guarantee?

6. What are the billing terms?

7. Do they have testimonials or references?

8. What is the turnaround time?

9. Do they have an graphics department? Is creative included in the price?

10.Do they have more than one program?

11. Do they help you purchase a good database?

If you want to get everything you want out of everything you got, then you will want to be here this Wednesday for our two (2) hour Lead Extravaganza.

Remember, keep moving forward to stay ahead in reverse.

***Go here to see the terms suggested by the GAO not to use in your advertorials:
http://www.remalo.org/members/685.cfm

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Tags: Best Marketing, Billing Terms, Creative, First Contact, Ftc, Graphics Department, leads, Marketing Practices, Mortgage Industry, reverse mortgage, Sam Collins, testimonials, Turnaround Time
Posted in General | No Comments »

Maintaining control of your business!

Sunday, February 7th, 2010

Maintaining control of your business!
post by Sam Collins
deckpic

This past weekend taught me a good lesson, as I watched for 24 hours as the snow fell and left its mark of 30 inches. I realized there are some things in life we have very little or no control and we just have to deal what is dealt to us.

So, what do we have control? Surprisingly, we do have control over much of our business success. We are in control of when we start and stop each work day. We have control of how many people we meet and speak with each day. We have control over keeping good records of our clients and reaching out to them daily. All these things are in our control and will make us more successful than imaginable.

So, what is holding us back from taking action over the things we have control. Yes, many of talk the talk, but very few actually walk the walk. The old saying, “you can lead a horse to water, but you can’t make him drink” is ever so true. Then why is it many of us tend to lose control? Because I am not you, I can’t answer that question? Maybe you are one of the lucky few who do have the control, but in case you are not, here are a few suggestions you can use:

1. Start your day with a purpose
2. Have a plan who you are going to speak with
3. Speak to at least 3 old clients every day
4. Speak to at least 2 new clients every day
5. Mail something to at least 3 old clients every day
6. Mail something to at least 2 new clients every day
7. Meet one on one with another discipline at least twice a week
8. Put your old, new, and potential client list in some order
9. At the end of the week, see how close you came to the above 8

I did some quick math and computed if you followed the simple formula above you will have 552 touches a year, not including the “just happened to come to you” touches.

This is what I call CONTROL.

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REVERSE MORTGAGE LEAD EXTRAVAGANZA!
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Reserve your Reverse Mortgage Lead Extravaganza Event Seat NOW!

Join Sam Collins and special Lead Providers for our two hour special “Reverse Mortgage Lead Extravaganza”, February 17th. contact information and lead sources to help you generate moreopportunities to close more reverse mortgages.
Please don’t miss out on this great opportunity.

Title:   Reverse Mortgage Lead Extravaganza

Date: Wednesday, February 17, 2010

Time: 1:00 PM - 3:00 PM EST

The lifeblood of our industry is LEADS. Join the Extravaganza for our 2 hour event, featuring six (6) different leads providers. After the event you then make the decision which lead provider will provide you the leads you need to keep your pipeline full.

As an added bonus , upon completion of our Lead Extravagana, you will receive a video/audio download of the entire presentation, providing you with contact information for each lead sponsor!

Remember, keep moving foward to stay ahead in reverse.

REMALO, LLC
800-283-1323
www.remalo.org
sam@remalo.org

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PS
We expect this event to sell out quickly. Leads are in high demand and you
don’t want to be left out. Go ahead, REGISTER NOW! to reserve your seat.
Early registrants will receive over $49 in Free Bonuses, just for signing up.