If you’re cold calling to generate mortgage refinance leads, I want to give you the basics for a great script.
Even if you’re a cold calling pro, you need a script. This way, you’re sure to hit all the important points you want to cover. Make sure you practice. The more familiar you are with your script, the easier it will be to chat with your prospect. And remember, smile. Your smile will come through your voice.
It may take more than one call to generate that perfect Mortgage Refinance lead. No matter how qualified the list criteria (and your list can be very targeted), your prospects still doesn’t know anything about you or your company. At this point, your goal is to introduce yourself and set the stage for the conversation.
And don’t give up. Get familiar with cold calling scripts for first calls and follow up calls. It’s a number game.
A homeowner who is considering refinancing their existing mortgage is interested in saving money on their loan. They may also be interested in getting cash out for other expenses. With this in mind, this is how you should start your Refinance Cold Colling Script.
Hi John (use their first name to start establishing a connection), this is Dale Filhaber from Dataman Group Mortgage Company.
I was going through my list of Homeowners in West Boca today and saw that we can help you refinance your current mortgage and get you a lower rate on your loan. Just so you know, we can save you thousands of dollars over the term of your loan and, if you’re interested, get you some ready cash.
Would you like to save some money? (Get them to agree)
Can I confirm some information with you? This way I can get you an accurate quote.
Verify the information from your marketing list. Thank them and make sure you get them their quote ASAP. Remember, if you’re contacting them other companies will too.
Follow up Call
You need to remember that someone who may be interested in refinancing may not be in an emergency. After all, they already have a mortgage. The refinance will save them money and give them some cash back. When you follow up, this is the concept of your Refinance Cold Calling Script.
Hi John, this is Dale from Dataman Group Mortgage. We spoke on (say date).
Refinance rates are still below your current rate. I just wanted to follow up with you to see where you are in the process. (You don’t want to give them a question here that they can just say no to and end the conversation).
Let me explain the process to you and how we’ve helped lots of people like you save thousands on their mortgages. OK?
Either they’re interested or they’re not. If not, thank them, get off the phone – there are lots’ of other people to call. If they show even a thread of interest, confirm the information from your list so you can get them an accurate quote.
Perseverance Pays Off
Even if your prospect says no, let them know you’ll follow up again. According to Scripted, 80% of sales require 5 follow up calls.
Being persistent will show your lead that you’re serious about closing a deal. Sadly, 44% of salespeople give up after one follow up call. Just think about how much money they are leaving on the table.
Bottom line, you need to follow up multiple times.
Each time you call, remind your prospects who you are and how you’ve spoken before. This is where relationship building comes into play. After the third or fourth call, you should have developed some rapport with your prospect. This rapport will help you move this prospect in to the lead column!
Remember the reason why you are using a Mortgage Refinance cold calling script. No two cold calls are the same. That means that you never know exactly how the conversation will go when your prospect answers the phone.
When you practice using your script, you will gain confidence. When you are more confident, you will increase your conversion chances. And, in the end, this will enhance your ability to generate that mortgage refinance lead!