I have named my Page 6 the “Mortgage Planning and Client Expectations Form”.  Because of the information that I receive once the client completes the form in its entirety, I incentive the borrower a reduction in closing costs by $25.00. There is a card attached to the form that explains the form and it’s importance.  The card reads like this:  “To our Valued Client, Thank you for choosing Your Mortgage Dream Team of Cherry Creek Mortgage.  Attached, you will find our Mortgage Planning and Client Expectation Form.  By completing the form, we will be able to serve you better and understand your financial goals.  For your time in completing the form, we will be reducing your closing costs by $25.00.  Please complete in its entirety.  Again, thank you for allowing us to serve you.”

Page 6 is a Gold Mine
I have redone my “Page 6″ many times.  I am always looking to see how I can get the most benefit out of it.  One of the benefits I receive from the form is finding out whom the best person is that I should be communicating to and what is the best form of communication I should use.  If the client works in front of a computer, it could be that email is the most efficient way to get a hold of them quickly. 

In the Personal Goal section of my “Page 6″, I ask a number of questions that will let me know what is important to the client’s near and future financial goals. Topics include:  Building Your Net Worth, Funding a Mortgage Retirement Account, Achieving Financial Freedom, Saving money to send your children to college are just some of the questions we ask.  Questions such as:  “Are you interested in building your financial wealth with additional real estate in the future?”  “Would you like to be on our mailing list for Real Estate Investment Seminars?” will give us the opportunity to put these clients on special mailings when we do our monthly real estate seminars.

Building Your Professional Referral Sources
Lastly, “The Page 6″ of the application will give you the opportunity to increase your list of Professional Referral Sources.  Near the bottom of my form, the client is asked to provide us with their Insurance Agent’s, Accountant/CPA, Financial Planner, Legal Advisor, and Human Resources Director’s contact information.  We state in our form that it is important for the client to provide the information as we may require their professional’s assistance in obtaining additional information for their loan approval.  

Outbound calls are made to each professional. The goal will be to first learn about the person’s business, and by asking certain questions during the conversation, will the professional be a prospective referral source.  The conversation would go something like this if I were calling a Financial Planner. 

“Mike Jones, My name is Tom Ninness and I am with ABC Mortgage.  I received your name from Joe and Sally Smith who are clients of yours.  Joe and Sally are purchasing a new home and I’ll be doing the financing.  I’m calling to introduce myself to you and to explain the financing package that I have put together.  By the way, Joe and Sally completed my Mortgage Planning and Client Expectation Form and it appears that they are interested in setting up college funds for their children.”

I would then ask questions to learn more about Mike’s business, such as; the length of time he been doing financial planning, the number of clients that he is currently working with and learn  what would the ideal client look like that Mike likes to work with.  One question that I always ask when I’m speaking to professionals is this, “Let me ask a question.  What is the biggest challenge you are having in your business or industry currently?”  This question will allow me to maybe send him an article, maybe a book or introduce him to someone that has gone through the same challenge and can help him with the situation. 

So, let’s say that Mike is definitely an “A” prospect.  Mike’s been in the business for 15 years, he has 250 clients, and all of his clients are high net worth.  My last and most important question is to find out what opportunity do I have in doing business with Mike in the future.  Here is how I would ask it. 

“Mike, I’ve enjoyed learning about you and your business.  Let me ask you one final question, when it comes to your client’s mortgage needs, have you aligned yourself with a professional to assist them in that area of their financial planning?” By asking the question this way, he has to give me a yes or no answer.  If Mike answers “NO”, then I will set up an appointment with him right away especially since he is an “A” prospect.  If Mike answers “Yes, I do have a relationship with a mortgage professional”, then I will at least ask his permission if I can put him on my mailing distribution list.  No means “not yet”.  I also know where the challenges are in Mike’s business and hopefully, if I help Mike with his challenges, I will earn the opportunity to work with Mike in the future.

Conclusion
Hopefully, I’ve convinced you the importance of the “Page 6″. Make it a priority that you get every client to complete the form and then make a promise to your self that you will follow up on every professional referral opportunity. 

To Your Success!!

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