The mindset of a consultant Todd Duncan

www.theduncangroup.com | www.salesmasterymobile.com | NEWSLETTER SIGNUP Volume 3; Issue 11   The Mindset of the Consultant How would you like to be in a position where for the rest of your origination life, you never again have to worry whether your rates and fees are competitive enough to get you business? How would you like to never give out a good faith estimate as the decision-making mechanism a borrower uses to do business with you? How would you like to be in the position of having clients never again question the cost of doing business with you? If you are like most originators, the fact of having rate and fee discussions with a borrower raises your heart rate, changes your focus, increases your fear and reduces your confidence in getting the deal. That's why one of the most significant opportunities for loan originators is to know how to create High Trust with borrowers so that rates, fees and price become secondary to doing business together. Recall the Law of the Shareholder, which says people buy stock in themselves. You must see yourself as someone in business as an originator, not as an originator in business. When you are working with borrowers, you are in the business of consulting. You are NOT in the business of doing loans. Loans happen when the advice you give and the way in which you give it creates trust with your borrowers. It's time for the borrower consultation! The High Trust Borrower Interview has five core steps and typically takes between 30-60 minutes: 1. The Introduction: A strong High Impact Opening statement. 2. The Core Values Interview: A series of questions designed to establish the borrower's central values. 3. The Highest Value Needs Interview: A series of questions to learn the borrower's needs and the benefits the borrower wants to receive. 4. The Presentation: Here you share your solutions to the borrower's needs in order of importance as well as product and mortgage management solutions. 5. Asking for the Business: You conclude by getting a commitment from the borrower to move forward. Remember: Your main goal during this process is to build trust with your borrowers, so they would never feel the need to look for help from any other originator. Comment and Share Upcoming Events Prospecting and Business Development: The High Trust Way Zig Ziglar once said, "Prospecting is like taking a bath. If you don't do it every day, pretty soon you stink." So, how do you prospect successfully? Time-wise, spend one hour prospecting every day until you have a solid 10-20 referral partners, and then prospect weekly or monthly. Create unique value propositions and approach campaigns that will get you noticed. For instance, you can send materials via Federal Express versus regular mail, or include a business book prospects may benefit from as a gift. Read More Do You Have The Knowledge To Succeed? I have found that most loan originators don't take action consistently in the areas that produce better results. Success in today's market is about discipline and disciplines. Knowledge acquisition is the first discipline you should do on a regular basis that will help you succeed in any market. Read More The Duncan Group 206 Greenfield Drive Suite F El Cajon, California 92020 United States The Duncan Group 206 Greenfield Drive Suite F El Cajon, California 92020 United States (866) 245-2208 If you no longer wish to receive our emails, click the link below:  Unsubscribe