Internet leads are looking for convenience. And they expect information fast. That's why when it’s time to refinance their mortgage, they hop online.
When you call an internet lead, you need to provide them with the information they were looking for — a rate quote. And you need to stop them from shopping around.
“Good morning, may I speak with Louise Thompson? Hello Louise, this is Steve Harris with VeryEasyMortgage. I’m calling because you requested a rate quote online, and were referred to me. I understand you’re interested in knowing what rate you could get on refinancing your home… my records show you’re thinking about a $100,000 loan, and you currently have a 7.75 rate on a 15-year fixed loan. Is that correct?”
You've got your lead’s borrowing profile at your fingertips. Start off by letting them know you’re calling because they requested rates online, and use their specs to demonstrate you’re already familiar with their borrowing position.
Once your lead has confirmed all the information you need, begin positioning yourself as her advisor, not just a disinterested app taker.
“Before I quote you a rate Louise, can you tell me why you are interested in refinancing your home right now?”
Use your lead’s response to demonstrate why you’re recommending a particular program. For example:
“OK. I find people who are refinancing to lower their monthly mortgage payment are most comfortable with XYZ program. Todays rate on that is 6.75%. I just did the numbers, and that would save you $123 dollars a month over what you’re paying right now.”
Don’t round up numbers. Giving the exact number is more believable.
Now use your instincts to tell if a lead is interested in getting down to the details. Not everyone will be engaged by your full pitch. For leads that are impatient, and just want to hear your lowest rate, don't keep hammering them with questions. It's a fast way to turn them off. Instead, tell them you'll be emailing them some detailed information.
Your internet leads come with an email address, so you don't have to worry about collecting it from them over the phone. You should still let your lead know to expect the email from you.
“I’m going to email you a proposal with some detailed information, OK? Look it over when you have a chance.”
There are several companies that offer fast rating software that lets you package together a proposal and fire it off in an email — all while you're on the phone with your lead.
And before a rate shopper hangs up, give them a reason to stop and work with you.
Ask, “What other rates have you been seeing?” Their answer lets you know where you stand. If another L.O. has offered your lead a lower rate, ask what type of program it is. If you can match or beat that rate, let your lead know.
If you’d like to learn more about using refinance leads to give your closing ratios a boost, contact a Lead Specialist now.