Podcast
Questions and Answers
What does the speaker do when a potential client decides to go somewhere else?
What does the speaker do when a potential client decides to go somewhere else?
Why does the speaker continue to monitor the loan of a client who decided to go with another lender?
Why does the speaker continue to monitor the loan of a client who decided to go with another lender?
What is the critical mistake the speaker wants the audience to avoid?
What is the critical mistake the speaker wants the audience to avoid?
What strategy has the speaker taught the audience?
What strategy has the speaker taught the audience?
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What does the speaker say is their job after the first loan closes?
What does the speaker say is their job after the first loan closes?
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Study Notes
Adopting a Loan Strategy for Mortgage Originators
- The speaker, Tim Braheem, discusses the concept of "adopting a loan" in this video.
- Braheem recalls a time when he would delete potential clients from his database if they chose to work with another lender, feeling defeated.
- He emphasizes the importance of not making this mistake and instead adopting a loan strategy.
- The strategy involves being a debt strategist who constantly looks for cheaper money for clients.
- If a potential client decides to go elsewhere, Braheem suggests using a specific script to adopt the loan.
- The script involves expressing disappointment, respecting the decision, and offering to continue monitoring the loan for future opportunities.
- By adopting the loan, mortgage originators can build a category in their database for potential clients who didn't choose them initially.
- Braheem shares examples of how this strategy has worked for him and his clients, including getting the deal when the chosen lender fails to deliver or receiving referrals from clients who didn't initially work with him.
- The strategy allows mortgage originators to stay in touch with potential clients and find opportunities for refinancing in the future.
- Braheem encourages the use of this effective strategy, as it can lead to long-term relationships and increased business.
- The key is to not give up on potential clients who choose another lender, but rather adopt their loan and continue providing value.
- Adopting a loan can result in dividends for mortgage originators by securing future business and referrals.
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Description
Test your knowledge on adopting a loan with this insightful quiz! Learn about the importance of this topic and discover key strategies for success. Challenge yourself and enhance your understanding of loan adoption with this engaging quiz.
