There is a phenomenon in sales called “the ripple effect.”

In short, you never know who might know who you want to know. I recently booked a major speaking engagement by talking to a woman who passed along my information to a man who told another man about me. That’s the ripple effect, and it could mean creating more opportunities for you if you know how it works.

Your job as a mortgage sales professional is to look for opportunities every day. Most of those are “immediate” opportunities as in: “Are you looking to refinance?” or “Do you know someone looking to buy a house?” But there are also opportunities out there that may not be as apparent to us. Everybody knows somebody, and that somebody may be who you want to meet.

Jeff is a loan originator. Jeff was talking with someone he met at a Business Network International (BNI) meeting. Jeff, always looking for opportunities, asked his new friend if he needed any help or advice in home financing. The man said no.

Jeff then presented his business card and asked the man if he knew anyone that needed a good loan officer, please pass it on.

Over a week later, Jeff received a call from a real estate agent. It seems that she received Jeff’s card from her husband who met Jeff at that BNI meeting. She said her husband was impressed with Jeff and that she should give him a call. Jeff met with the agent and formed a relationship that so far has yielded two referrals and two new loans in just a couple of months. The ripple effect is in action again!

Think about all of the people you now know or those you meet in a month’s time. How many of them have husbands, wives, friends, brothers, sisters, cousins, parents, neighbors, business associates, golfing buddies, and just casual acquaintances that could be potential opportunities for you? Just because they are not currently interested in what you are offering, it doesn’t mean they don’t know someone who is.

Many mortgage salespeople are reluctant to try and open these doors for fear that they might be seen as invasive or pushy. But if you use the right approach, it’s easy. For example:

Originator: Are you thinking about buying or refinancing a home soon?

Prospect: No, not really.

Originator: Well, when you are ready I am ready to help you.

Prospect: Thanks. I’ll keep your card.

Originator: And here is another one. You never know when one of your friends, co-workers, family members or acquaintances mentions to you that they are in the market. I’d like to help them if I could. That way, they can recommend me to you some day!

A mentor once told me that you should never be afraid to ask for help - or - ask people if you can help them.

Someone may know someone who knows someone that could be your next loan or your next life-long client. People are the gateway to other people. That’s how the world works. Great salespeople get this. That’s another reason why they are so successful.

Comments

Add New

Write comment
Name:
Email:
Website:
Title:

Powered by !JoomlaComment 3.26

3.26 Copyright (C) 2008 Compojoom.com / Copyright (C) 2007 Alain Georgette / Copyright (C) 2006 Frantisek Hliva. All rights reserved."