CRO|CONVERSIONRATEOPTIMIZATION

…In a Rising Rate Environment

Historic Rates

Last 3 Years

THE PERCEPTION

Rates are Higher

More Competition

Business is Harder

01|02|03|

“Don’t wish it was easier. “Wish you were better.”

“Don’t wish for less problems.” “Wish for more skills.”

“If price is still a question, then Trust has not be established.” – Todd Duncan

“Don’t lower your price. Increase your value.”

Buy Based on Lowest Price

Prefer to Pay the Highest Price

15%

5%

80% Make a Value Based Decision

85% of Borrowers Make a Decision Based on

PERCEIVED VALUE!

HOW MANY DIFFERENT LENDERS/BROKERS DID YOU SERIOUSLY CONSIDER BEFORE CHOOSING WHERE TO APPLY FOR YOUR MORTGAGE?

HOW MANY DIFFERENT LENDERS/BROKERS DID YOU END UP APPLYING TO?

DID YOU APPLY TO MORE THAN ONE LENDER FOR ANY OF THE FOLLOWING REASONS?

1-2 Borrowers Out of Every 10 are Hard Core Rate Shoppers

THE SOLUTION

Education Based Sales Process

Well Designed Scripting

Emotional Connection

Education Based ScriptingMLO: “Hi my name is Cody Hardridge with Cornerstone Home Lending. How are you?

Client: “I’m good, how can I help you?MLO: “I was referred to you by Marc Laird with Keller Williams. He gave me your name and number and said that you are looking to buy a house. Is that correct?” (Tie-Down Question)

Client: “Well yes, we are thinking about it.”

MLO: “Fantastic! Well he asked me to connect with you to tell you a little bit about our process. Is that okay with you?” (Tie-Down Question)

Client: “Sure!”

Education Based ScriptingMLO: “What we typically do is start with some very basic information. It will just take us about 5 minutes and I just need enough information to process a basic application for you. Then we will call you back to set up a time to meet with you at my office. During that meeting, it will allow me to sit down with you face to face to help you bring the numbers into sharp focus so that you will be crystal clear about what price point you should be looking at to achieve the monthly payment you want, the different program options available to you and how much money you will need. Whether you decide to use me or not, my goal is to make sure you have all of the information you need to make a good financial decision for you and your family.

Client: “That’s exactly what I need!”

Does that sound like something that would help?” (Tie Down Question)

Embedded Commands Pattern Interrupts Power Phrases Tie Down Questions

Meeting Face to Face

Why?

GOING DEEP:Creating EmotionalConnection

The Consultation

#1 Reason : Dissatisfaction

Dissatisfaction x Future Opportunity > Cost + Fear

Discovering DissatisfactionMLO: Tell me, what’s causing you to want to buy a house right now?

Client: “Well we are needing a bigger house?”

MLO: “I see. What’s not working about where you currently live?”

Client: “Well our family is bigger and our kids are doubled up right now. Plus we need an area to work.”

Discovering DissatisfactionMLO: “So what will this do for your family?”

Client: “Well, each kid will have their own room and we will have the privacy we need to get work done.”

MLO: “So this is a really big deal then?”

Client: “Absolutely”

Discovering ValuesMLO: “You know, when I meet most of my clients for the first time, they often think that we are just here to help them get a loan. I don’t really see it that way at all. I see myself as being in the business of helping my clients achieve their biggest goals. For most of my clients, buying a home is a really big goal.”MLO: “I don’t ever begin a transaction until I’ve had the chance to sit down with my client and get really clear on what matters most to you. So with that being said, what will be most important to you about the loan you get on this house?”

Discovering ValuesClient: “I’m not sure what you mean by that.”

MLO: “Why don’t we start with payment. From a budgetary standpoint, where do you want your payment to be?”

Client: “$2200-2300 per month”

MLO: “What payment would cause you to say no to a house because it was too high?”

Client: “Probably $2500 a month”

MLO: “Great, let me put some options together”

Presenting SolutionsOption Selling

Gaining Commitment

MLO: “Do you have any other questions about the money part?”

Client: “No I think I’m good!”

MLO: “Great! Well I have one for you. If we can exceed your expectations on the things we discussed today, do you see anything that would prevent us from helping you buy this home?”

Client: “No not at all! This has been great!”

Key Takeaways

Education Based Sales Process

Well Designed Scripting

Emotional Connection