Ask for Referrals - And Get the Answer You Want!

Too often, people are frightened of asking for referrals. Is it the fear of rejection, or are they concerned about annoying their prized clients? If you're providing truly exemplary service, you shouldn't be ashamed to ask for the opportunity to provide that same service to other people your clients know! In fact, it should be the next natural step after asking a client how the service was.

The way you ask this question, however, is very important. Open-ended questions help people to brainstorm, instead of giving them the chance for a simple "Yes" or "No" answer. Instead of asking, "Do you know anyone else who could use my services?" ask, "Who do you know who could use my services?" The difference in how they respond is amazing!

It's also critical to expect the referral. When your tone or facial expressions show that you don't really believe your client will have a good answer, they won't have one! Don't let your body language change your question into, "I don't suppose you have any referrals for me, do you?" Instead, expect the referral like it's the most natural thing in the world. With enough practice, it will be!

If people seem tentative, or they say they'll think about it, tell them you'll get back to them, and set a specific time to do so. Keep the appointment, even if it's just a phone call. Remind them that this is the way your business model works. You "get buys" with a little help from your friends.
You can also use this language in the signature of your email, below your name and contact information. Every email becomes a mini-billboard, even when you're out of the office and have your auto-responder set.

One of the best referral generators I've heard of is simply a delicious fruit basket. Send a fruit basket to your client after the close. Unlike candy, which tends to get hoarded by the recipient, fruit has a built-in expiration date, so people keep it on display to share. Send the fruit basket to the client's place of employment, which makes them feel special. When co-workers ask where it came from, the client simply says, "My sales executive gave it to me." This opens the door to many subsequent referrals.

A Gift They Won't Forget

Want to make yourself "unforgettable" to your clients and associates? Try this novel idea...give a book!

One great benefit of giving a book is that it won't get thrown away. Even if it doesn't immediately get read, a book certainly won't get pitched in the trash. Be honest. Like most people, you probably have a stack of books somewhere in your home or office that have not yet been read, but there they sit, patiently awaiting a quiet, relaxing hour of your time.

Books are also flattering to the recipient as an "intellectual" gift. Even if your recipient isn't a big reader, they will be flattered that you thought that they might be! And many people even claim that a house is not a home without a few good books at hand.

Books are cost-effective. Most great books are available for well under $20, and many are even less than $10. You can save yourself even more money - and time - by purchasing several copies of a favorite book to have on-hand, or ordering multiple copies online or through your local bookstore.

Books are also perfect for the whole family. Most parents would agree that the best way to win their hearts is to be thoughtful of their children. Especially if the family is going through a major change such as moving to a new home, don't forget about the kids.

Books can be easily personalized. A simple handwritten inscription inside the front cover of the book such as, "Very best wishes to you in your new home!" or "This is a great read - hope you enjoy it as much as I did!" followed by your signature really makes the book something personal and special.

And speaking of being personalized, if you really want to do something special, select a book on a specific topic you know they will like. If they're into remodeling or just purchased a "fixer-upper," a how-to book would be perfect. If they've recently retired and are ready to hit the road to explore and travel, find a book about ways to plan terrific vacations. Your selection will show how much you care, in a far deeper way than, say, a fruit basket ever could.

Amazon's website has an excellent search feature. Simply enter key words such as "new home," "gardening," or "road trips" and you will be quickly directed to a great selection of books to browse. You can now even "thumb through" the book online, viewing the front and back covers, table of contents and an excerpt from the book, as well as reviews.

One great idea is to purchase regional books that showcase what might be little-known facts and history of your city or state, secret spots for a day trip, pictures of "then and now." For the young and the young-at-heart alike, try Shel Silverstein's The Giving Tree or Dr. Suess's Oh, The Places You'll Go! Simple and understandable, these books are moving, meaningful, and memorable. And for anyone and everyone on your list, George Clason's Richest Man in Babylon - The Success Secrets of the Ancients is a home run. It is a quick, easy parable about wealth-building principles, one of the best-selling books of all time.

Make it  A Great Day!

 
 
 
Travis D. Coile
Branch Manager
Gateway Mortgage Group
615.290.4485

Actions Speak Louder Than Words

Practicing scripts is a wonderful way to perfect what you say to clients. It's also important to study how you look when you deliver your speech. Body language can account for up to 90% of the impression you make in a conversation, and it can enhance or undermine the point you're trying to make.

Here's one way to find out whether your gestures are telling customers you are desperate or self-confident. Set up a video camera and practice your pitch to your spouse, siblings, or co-workers in a role-play scenario. Talk to them just as you would a new client. Then watch the tape and see what your body language is telling people. Here are some key things to look for:

Do objections make you frown or lose your train of thought? Frowning indicates defeat or anger, and is obviously negative. Smile as you counter the objection with a positive comment. Mirroring the other person's body language could possibly win them over subconsciously. Imitate the way they posture themselves, and your non-verbal communication says, "I like you, you're just like me."

Do you nod your head when asking for a commitment? Nodding the head signifies approval. This is a technique that's often used in the restaurant business. When the server nods her head "yes" while reciting the dessert menu, your response is more likely to be, "Why sure, I'll take one of those!"

Do you make appropriate eye contact, without staring down your client? An intense stare makes people uncomfortable, and can even make them feel you're a little off balance. On the other hand, if you avoid eye contact, the person you are speaking to will probably think you're lying. Be attentive and smile. This tells them you're a winner!

What is your posture saying? It's important to look relaxed, but don't overdo it. Slumped shoulders give a negative impression; on the other hand, leaning back and clasping your hands behind your head tells people you are quite full of yourself. If the bottom half of your body is covered by your desk when a new client is sitting across from you, they're missing half of your body language. So the way you position yourself in your chair is very important. Relax and lean slightly forward with one shoulder as you tilt your head just a bit. This shows you are captivated by what they have to say.

In business, we often have to remain positive even in a negative situation. Being attentive to your own body language can make an incredible difference in how others perceive you. This is one area where practice really does make perfect. Rest assured, if you're not practicing, your competition probably is.

Make it a great day!

Travis D. Coile
Branch Manager
Gateway Mortgage Group
615.290.4485

FHA - Using a Non-Occupying Co-Borrower

FHA will allow a co-signer that is not living in the house unlike conventional loans in which the borrower still needs to meet certain qualifying ratios even if they have a co-signer. This can be great for first time homebuyers. One thing that so many get confused no matter what type of loan they are applying for is that a co-signer with good credit can't overcome the bad credit of the primary borrower. Meaning that the co-signer with good credit can't get you a better priced loan.

On FHA loans, 100% of the co-signer's income can be used no matter how much money the borrower makes. This also can help the borrower to achieve the maximum fha loan limits depending on what county that they are buying in. Each county has different mortgage amounts. And by having this co-signer, this can help those borrowers that might have some income that they can't prove, knowing that they can still make the higher mortgage payment. One thing to keep in mind though is that the co-signer's debt is also used in this equation. If their debt is extremely high, this co-signer might not help the situation.

Key Reminder : The co-signer can not currently have a FHA loan in their name. For some more information on this topic, please go to http://www.hud.gov/offices/hsg/sfh/ref/sfhp2-03.cfm

If you have any questions regarding this program and how it can assist you in qualifying your clients to purchase their dream home today, give me a call.


Make it a great day!

Travis D. Coile
Branch Manager
Gateway Mortgage Group
615.290.4485