Being Honest DOES Work for Loan Officers!

Honesty and marketing..oxymoron or what? Well, I can’t speak for everybody else, but in the six or so years that I’ve been practicing mortgage marketing, I can honestly say (no pun intended) that honesty has always worked out very well for me. In this article, I’m going to tell you a true story that just happened to me. You can take what you want out of it.

I recently got an email from a prospect asking for some advice. In the email, they mentioned a few possible mortgage programs that they were looking into. One of them was mine and another was from a lender who I happened to know pretty well and also know has a good reputation. This lender’s program, while I didn’t know too much about it personally, was a little cheaper than mine on both the rate and fees. The prospect wanted to know what I recommended.

Now, here is where honesty can actually work to your advantage. I told the prospect that I wasn’t familiar with this particular program by this other lender so could not personally recommend it. This of course is the truth. However, I was able to tell the prospect that this other mortgage broker was somebody who I knew personally and could honestly say that from what I knew, they were respectable and most likely their product would be of a good value. I even went as far as to say that because of the low price point, it would probably be a good idea to at least explore it a little further.

I haven’t heard back from the prospect yet, but I can say from past experience that whenever I have done something like this, the prospect almost always came back, thanked me for my honesty and sometime in the future became a paying customer, either because what they tried out didn’t work for them, wasn’t complete enough or simply because they trusted me enough to ask me what product of mine would help them with a certain problem that the other product didn’t cover.

Case in point…being honest can go a long way in mortgage marketing…and get you TONS of rebound clients!

Chris Hallmark – http://www.loanofficermarketinglab.com/chrish