Generate Reverse Mortgage Leads And Close Them...

Qualifying reverse mortgage leads is the hard part. But here is how to make it a but easier...

Life expectancy is increasing. More and more people are living longer than ever before which is spurring the reverse mortgage movement. Older individuals are beginning to realize a reverse mortgage gives them the opportunity to take advantage of the value of their home to boost their monthly cash flow.

The truth of the matter is not all leads are created equally. This is especially true when it comes to reverse mortgage leads because this type of mortgage appeals to a highly targeted demographic. In particular, those who qualify for this type of mortgage must be over 62 years of age, own a home built on a permanent foundation after 1976 and undergo financial counseling specific to the reverse mortgage process. Obviously not all of these criterion must be met for a lead to be worthwhile but it must be feasible for the individual to qualify for this type of mortgage in a relatively short time frame for the lead to be useful. Look for lead generators who capture information relative to age and type of home owned and screen out those who are not qualified for a reverse mortgage. Likewise avoid lead generators who do not include this relevant information with the lead.

Reverse Mortgage Leads and Making The Most of Your First Contact

Once you have generated a number of top quality reverse mortgage leads, it is time to start making your initial contact with the leads. This initial contact may be via email or telephone depending on the type of contact information provided as well as your personal preferences. If you contact via email, make sure you personalize the contact. This is important because it is much more likely your email will be read if you personalize it. Next, make sure your email provides value to the contact. Obviously you should include information on how the individual can contact you but you also need to promote yourself and explain why you are the best mortgage broker. You may also want to include articles, tips or calculators so the potential client sees you have their best interest in mind.

When you make your first contact via telephone, be prepared to speak to the person. Do not write out a script but know what you want to say and plan ahead to make sure you know how to make these points effectively. Also, think ahead about the types of objections you might hear and have a plan of action for refuting these objections. This will help you to make a great first impression.

Why You Must Always Follow-Up

Making a good first impression on your initial contact with your reverse mortgage leads and prospects is not always enough to help you acquire new clients. You also have to be ready, willing and able to follow-up with your leads after the initial contact. If your initial contact was via email, you can send another email 3-5 days later with additional information or offers. This may be in the form of another personalized email or as part of a newsletter. If your initial contact was via telephone, you can make a follow-up telephone call several days after the first call. The purpose of this call will be to ask the contact if he has any questions after he had the opportunity to consider the information you provided.

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