6 Secrets to Cold Calling for Mortgage Agents

An excellent mortgage agent gathers leads and proceeds to convert them into paying clients. One effective way to do that is by cold calling. Cold calling is a sales technique where the seller contacts individuals that have not expressed previous interest in their services. However, cold calling might seem like a nightmare to some insurance agents because the uncertainty that comes with it can make one anxious.

Cold calling can involve in-person visitations, phone calls, or telemarketing. A good step is to spend time researching prospects before making a call, and this increases your conversion rate. So you end up with more qualified prospects.

Some Factors to Consider Before Cold Calling

Always plan ahead

Expert advice says it is great to set up a routine for your cold calls. Then proceed to stick to that routine for better accountability, Decide who you will be calling by making a list on your notes app or your jotter. Setup a time on your calendar to place these calls too. When you use a fixed schedule for calls, you can tell if time is a factor for closing deals. For example, will prospects be more chatty in the morning after a cup of coffee or in the evening after a long day at work?. You can decide all these first before the call.

Investigate those you need to call

This process can appear hectic but when you do some research on who you plan to call, you are armed with more information that could land you a great deal. You can check the social media profiles and LinkedIn account of your prospects or just do a quick Google scan for some background information on their lifestyle. Knowing your prospect’s needs will help you appear confident during the meeting.

Find a personal connection

Building a personal connection with your prospect through social media or phone calls is essential to close a deal. Your research can reveal similar connections that might make your prospect do business with you and build a long-term connection. Sometimes your prospect might be a native of your hometown or you visit the same church, hospital, or school. During your research, you can also bag a common interest that can make an emotional bond strong. Remember that mortgage agents are human beings too. For instance, your prospect might love playing basketball, tennis, or golf just like you. 

Be informed first, then inform them

When you start a call, allow your prospect the freedom of asking you questions first. Don’t be in a hurry to sell your products or services. Also, ask a lot of questions for a better understanding of your prospect’s individual needs. This approach will help you mold your pitch more persuasively. Never forget that your prospect is only interested in what you have to offer them and not in your life history.

Practice and review methods

No man is perfect and the only way to become better at something is to practice it consistently. As a mortgage agent, try the mirror trick by rehearsing what you need to say to your clients in front of the mirror. This task will help build your confidence and make you smile. Another tip is to stand while making the call and take few slow steps around. Then, you can also record your voice and know what you sound like over the phone, record your live calls too and look for ways to improve them after listening.

Good record keeping

Imagine doing business without any records of your past work? This is never a smart move. An excellent mortgage agent keeps a record of all his dealings. Record keeping will help you measure your business progress in the long run. Having the information of who you called, and how long you spoke for during the appointment is a good start. Sometimes a call might not end in a sale but you end up learning something from your prospect. Document this information for future use during a follow-up call. 

The shivers of cold calling for mortgage agents can discourage new agents in the business but with the right steps, you can make cold calling an effortless hobby. The above-mentioned tips will help you stay confident during cold calling and also close the gap between you and more deals. You have no excuse now, take that list of leads and start cold calling your prospects today.

About the Author: Liza Schubert

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As the Director of Pay Per Call Marketing, Liza is responsible for strategy and executing marketing partnerships for Astoria and promoting call campaigns and initiatives. Liza prospects and secures Pay Per Call relationships that align and further promotes Astorias offers for their clients and affiliates. In addition, she is fluent in campaign set up integrations on Invoca, Ringba, Retreaver and Trackdrive. Liza has a bachelors degree from American University in Washington DC, in Public Communications, focusing her skill set in writing, public relations, proofreading and research.