Lead generation for mortgage brokers is the lifeblood of your business if you’re a loan officer or mortgage broker. Whether you’re just hitting your first slow season or looking to revitalize your client book, learning how mortgage brokers get leads can take your business to the next level.

Cold-calling is a common way for loan officers to draw in new clients. When cold-calling for mortgage loans, you need to build a script that introduces who you are, why you’re calling, and allows responses from the recipient. You should ask them about their timeline for buying a home, what obstacles are they facing impacting that timeline, and tie it all into how your business can help.

You can often generate mortgage leads online through a company’s customer relations management (CRM) system that connects you to potential leads. However, you need to know exactly what to say to those leads to convert them into paying clients.

What Is a Cold Calling Script?

A cold-calling script should ideally be an outline you can fall back to when calling potential customers. It’s a pre-written dialogue that can help you guide the conversation in a way that convinces them you are the right choice as a loan officer. These scripts also help you cultivate a feeling of trust and connection to potential clients, increasing your chances for future referrals.

What to Say to Sell

Gaining customers and building client loyalty with just a few phone calls‒who doesn’t love that? However, making those crucial connections takes more than dialing the phone. Here are some of our expert tips for crafting a personable and successful phone script:

Build Your Initial Script

When you’re calling a lead for the first time, you need to introduce yourself and why you’re calling. You also need to be respectful of the lead’s time, so a good way to open is:

“Hello, my name is (your name). I’m glad I was able to get a hold of you today! I’m a mortgage expert with (your business). Do you have a few minutes to chat?”

At this point, you pause for their response. By not jumping into the deals you can offer and overwhelming them with your elevator pitch, you can establish rapport with them.

No matter how they answer, always keep the call empathetic and relatable. Statements like, “I understand you’re busy, can I just make sure I have your name down right?” or “I understand you’ve got to go, so I’ll make this very quick.”

The goal is to get your foot in the door and see if you can arrange a time to call them back to discuss their home-buying goals. 

Show Your Expertise

After your initial call‒or if the prospect says they have time to chat‒you need to position yourself as an expert in the industry. This can strengthen the sense of trust between you and your potential clients. Your script may say something like:

“Hi (lead’s name), it’s great to chat with you again. It’s (your name) from (your business). I’ve been living in (area/neighborhood) for more than (number) years and it’s truly been amazing. As a loan officer at (business) who specializes in this area, I wanted to know more about how your search for your dream home is going.”

This pitch does two things:

  • It shows you are familiar with the lead’s area of interest, and you are an expert.
  • It opens the door to learn more about the lead.

You want to learn what their timeline is for purchasing a home and what obstacles are preventing them from applying for loans. When you have this information, you can adapt your pitch to cater to their individual needs.

Give Your Pitch

Once you know more about the lead, their home-buying goals, their challenges, and their timeline, you can reach them more directly. This is where you want to show how you are just the broker to make their home-buying dreams a reality. Here’s an example:

“I hear that your credit score has been a bit of an obstacle in sealing the deal for your dream home. That neighborhood is wonderful and has been growing in popularity. My goal is to get families like you into those homes before they’re gone and you miss that window. Do you have time in your schedule for a meeting tomorrow?”

Drop the Cold Calls With IPA

Many brokers find that the cold-calling period is the most difficult to overcome. Avoid having the phone hung up on you by becoming an Exclusive Referral Partner with Insurance Pro Agencies (IPA). We offer up to three free, exclusive, and ready-to-buy mortgage leads per week–check out our page to find more information today!

Leave a Reply

Your email address will not be published.