4 Signs You May Lose a Sale

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Sales Tips from Freedom Mortgage

As a mortgage professional, you know that you close some sales and lose others. While some losses may be completely out of your control, there are cases where you can take initiative and change a buyer’s mind before they back out.

Although each client may act differently, there are a few signs you can look for that indicate a sale is at risk and steps you can take to get back on track. If you find yourself stuck in one of the following situations, try our sales tips below to prevent a total loss.

Sign #1: Negative Body Language

If a customer has their legs or arms crossed, it could be a defensive sign that indicates a lack of trust. When your client’s body language is closed off, their ears likely are, too. Find a way to reestablish trust between yourself and your clients so they are more open to hearing what you have to say.

Tip: Listen to everything a client tells you they want, and repeat it back to them so they know you understand their unique goals and priorities. Prove that you want to help them succeed by offering personalized advice. Customize your interactions with each client to match their specific mortgage objectives and close the deal.

Sign #2: Rate Shopping

If a lead asks for your price before they even meet you, they are probably a rate shopper. These clients aren’t likely to understand why your prices might be higher than someone else’s, and they probably won’t take the time to learn, either.

Tip: Before stating your rate, try asking questions to assess each client’s needs so you can provide a better quote with context. Be sure to answer their mortgage questions completely and offer full disclosure to gain their trust. Demonstrating your expertise and attention to detail will make potential clients more likely to see your full value as a mortgage professional.

Sign #3: Consulting Someone Else

If a client says they need to consult with their spouse or significant other, it could be a sign that you’re not speaking with the actual decision maker. If you’re not directly connected to all the people who will be involved in a final decision, you are one step further away from closing a sale.

Tip: Be understanding of your client’s need to consult with their partner, and offer a way to provide more information to everyone involved so they can make the most informed choice possible. Try to schedule a meeting or phone call with the main decision maker at a more convenient time so that everyone can feel comfortable moving forward in the process.

Sign #4: Indifferent or Detached Attitude

A big purchase takes a big investment – not just financial, but emotional. Serious clients ask questions and raise concerns to ensure they’re making an informed choice. When someone seems distracted or disinterested altogether, it could point to a potential loss of the sale.

Tip: If your client is keeping their cards close to their chest, they’re likely not very invested. Ask them to explain their ultimate goals to you so you can provide better information and engage them back into the sale. Emotions drive buying, so it’s important to find ways to get and keep clients excited for the journey ahead.

More Tips for Closing a Sale

Today’s well-connected and informed buyers expect certain things from the professionals they choose when making a big purchase decision. Try the following tips to ensure that you make the sale, every time:

  • Answer all questions correctly and effectively
  • Offer full disclosure
  • Communicate openly, honestly and quickly
  • Personalize your interactions
  • Establish trust from the initial meeting

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