New Purchase and Refinance Mortgage Lead Brokers: Opening Your Call

Telephone marketing is a science. You need to be aware of this from the moment you sit down and begin your call to the moment you hang up the phone again. While you may be doing fine “winging it,” you will close more deals if you pay attention to and plan for each step in the process.

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Today we’ll look at simple things you can do to dramatically improve your closing ratios on new purchase and home mortgage refinance leads. We’ll start with the opening segment of the call, the introduction.

Opening Your Phone Call

Your prospects’ first impression will be the key to your ability to follow through on your sales pitch and to ultimately closing the mortgage lead. Here are three proven strategies to start you off on the right foot.

What’s in a Name?

Don’t ask for John Smith or Mr. John Smith; ask for John, as if the two of you have been friends for years. Likewise, introduce yourself by your first name. This will help you to build an immediate rapport with the client. It acts to disarm the lead’s initial concerns and to establish a relationship of equals. For example, “Hi John, this is Sarah from ABC Mortgage Brokers” frames the introduction it in a familiar and friendly way.

A Debate - Asking if it’s a Good Time to Call

There is a great deal of debate in the mortgage lead telephone marketing industry about whether or not it’s advisable to ask the lead if it’s a good time to call. Some marketers do, some marketers don’t, and both have valid arguments.

Those that don’t ask assume that if your prospect picks up the phone instead of letting it go through to voicemail they are ready to talk. Those that do ask tend to feel that it sets them apart as business professionals who are legitimately concerned about their prospects’ time. Those that don’t ask don’t want to give the prospect a chance to preemptively end the conversation before the pitch.

Unfortunately, there is no correct answer here. You will have to decide for yourself based on your customers. If your leads are busy professionals or retired persons, they may very well appreciate your asking. If, however, your leads are middle-class persons home from the office for the evening, you may not want to ask and give them that out.

Conversational Style

Your mortgage lead prospect can smell a sales pitch a mile away! You can dramatically improve your closing ratio by moving the call from a presentation style to one that is more conversational in tone.

For example, who would you rather receive a sales call from?

1. Hi John Smith, this is Sarah from ABC Mortgage Brokers. Many people feel that the cost of houses has grown so high that it is out of their reach. We don’t feel that way. If you’ve got a minute, we believe we can show you that home ownership is possible.


2. Hi John, this is Sarah from ABC Mortgage Brokers. Have you noticed that the price of houses has gone up considerably?

The second style is more effective as it lowers the prospect’s guard and allows you to flow quickly from your introduction into a benefits question.

Following these simple steps will lead to higher closing ratios and eliminate many of the frustrations that we all encounter in the day-to-day operation of our job. It’s not rocket science, but it is a science nonetheless, and a little attention to the process will work wonders. What have you got to lose by not implementing these techniques, except sales? Be sure to read the second part in the series where we cover the body of your call and make suggestions on how to more effectively frame your sales proposition to your new purchase or refinance mortgage lead prospect.

©Copyright 411 Mortgage Leads. All rights reserved. Joan Carlton is a Sales Manager for 411 Mortgage Leads. 411 Mortgage Leads is a network of channel partners and call centers focused on establishing long-term business relationships through our dedication to providing brokerages and lenders with the highest quality mortgage leads available. We aim to provide a community for brokers to learn how to generate their own free mortgage leads through homegrown marketing. Learn more at 411MortgageLeads.com.