They:

• Speak too quickly
• Overload with too much information
• Use mortgage jargonM
• Move randomly from one point to another
• Forget to tie their solution to their customer’s needs

Why does this happen?  Maybe it’s because when we get into a product explanation, we tune out the customer and get into the “zone” as we listen to ourselves talk.  We are so concerned about getting everything out and everything right, we diminish our presentation’s effectiveness.  The result is either a confused customer who must now ask a lot of questions to try to understand what we are saying, or one who simply replies: “Well, let me think about it.”

When explaining things like loan products, it is best to slow down and take things one step at a time.  Envision walking up a flight of stairs, from one step (features and benefits) to the next.  Here is an abbreviated example of how a lender might clearly explain an adjustable rate mortgage:

• The first feature of an adjustable rate mortgage is the lower interest rate.  Today, the three-year adjustable is 1% below the standard fixed rate.  That 1% in your situation means a payment that is $125 lower every month.
• The second feature is the caps.  Caps mean that your interest rate will never increase more than 2% in any given year, and no more than 6% over the life of the loan.  So, you have some protection there in case rates rise dramatically.
• Finally, adjustable rate mortgages can be refinanced at any time.  If you choose to move into a fixed rate program down the road, I can help you with that.”

Slow down.  Present your programs more clearly.  Try recording your product presentations into a tape recorder and listen to how you sound.  You’ll improve in no time, and convert more prospects into customers.

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