High Impact Selling

1. Life Cycle Selling
High Impact Selling

2. What is High Impact Selling
• Focus of attention
• Selling solution, not products
• Understanding prospects’ value system
• Differentiate you from the rest
• Validate the value with tangible proof
High Impact Selling is the strategy and skill set about increasing conversion
ratio in the competitive market place.

3. The best way to get prospects to pay attention to you is to
pay attention to them
We live in a fast paced world where people are used to quickly tuning in and out
on different sources of information.
It is not uncommon that borrowers have done research online before they come to
meet a mortgage broker. So the potential for losing a prospect’s attention is higher
than you think, especially when the prospect / lead is sourced from online, if they
can’t get “What’s in it for me?”
To pay attention to prospects, you must practice active listening.

4. Active listening
Active listening is where you make a conscious effort to hear not only the words
that the prospects is saying but, more importantly, the complete message being
communicated.
• Pay attention to what the prospect is saying - Don’t mentally prepare a rebuttal
• Show that you’re listening – Use body language and gestures to show that you are
engaged
• Provide feedback – Reflect on what has been said by “Sounds like you are saying...,”, or
“what do you mean when you say…”. etc.
• Defer judgement – allow prospects to finish each point before asking questions, don’t
interrupt with counter arguments
• Respond appropriately – Encourage respect and understanding. Be candid, open and
honest in your response. Treat prospects in a way that you want to be treated.

5. Solution vs product selling
“We provide the solution to your financial needs” is probably the most over-used
statement the mortgage brokers use.
But what is the difference between solution and product selling?
Product selling is about to uncover prospects’ need and introduce the benefits and
the features of the loan product(s) that will most closely and effectively satisfy that
need.
Solution selling, on the other hand, starts from determining the underlining value
system of the prospects and incorporates combination of loan products, advice
and on-going service to realise customers’ perceived value. It demands a different
mindset and behaviour.

6. Solution vs product selling
“We provide the solution to your financial needs” is probably the most over-used
statement the mortgage brokers use.
But what is the difference between solution and product selling?
Product selling is about to uncover prospects’ need and introduce the benefits and
the features of the loan product(s) that will most closely and effectively satisfy that
need.
Solution selling, on the other hand, starts from determining the underlining value
system or concerns/problems of the prospects and incorporates combination of
loan products, advice and on-going service to realise customers’ perceived value.
It demands a different mindset and behaviour.

7. Steps in the solution selling process
Solution selling approach is not about a totally different method of selling, rather
about shifting your focus from just loan products/features to addressing and
solving their underlining concerns and problems.
Follow these six steps of the sales process reframed for solution selling process:
1. Identify – Focus on customer’s main concern and problem
2. Educate – Give prospects tangible reasons for not only you can provide them
the loan products they need now but also how they can benefit in long term, such
as post-settlement care. Here is where the real difference between solution and
product selling.
3. Solution presentation and close – Always incorporate the post-settlement
program in the solution

8. Understanding prospect’s value system
The main feature of mortgage products is that the products of the same category
are perceived as uniform cross different lenders. The differences among them are
either trivial or intangible.
It makes only natural that the borrowers want to have the lowest possible interest
rates, because the lower rate is, the higher the value they will get from it.
However the fact is that it is almost impossible for us to get the lowest rate for a
particular customer, because:
1. We don’t have access to all the loans in market, especially online lender
products
2. Not all products are suitable for every borrowers
So it is handle the potential rejections upfront in early stage of selling process

9. Handling rejections
The best way to handle rejections is to anticipate, raise and handle them upfront,
rather than react after customers put them up.
The common rejections are:
1. I saw a interest rate online of so and so, can I get it?
2. A friend got a rate so and so from a bank XYZ, can I get the same rate?
3. Bank XYZ offers a cash back, can I get the same from this bank?
4. Why you need so many documents now?

10. Handling rejections
You can adopt the following script in early stage of presentation to put those
potential rejections to bed:
“Dear customer, For most of us, loan is just a loan and we want to the lowest possible rates. I
am the same.
However when dealing with individual borrowers and situations, not all the loans are the same.
Some lenders may have a lower rate, but their lending policy may be restrictive, or lacking
good customer service which may cost you more money and time in future.
As an accredited mortgage broker by the most reputable lenders, I have access to more than
30 lenders and hundreds of loan product to choose from. I understand the lending policies of
different lenders so that I can choose the right one for you according to your situation and
requirement.
And because we have strong relationship with lenders, I always negotiate the best possible
interest rates and deals for my customers.
And the most importantly, you will have me as an adviser for years to come to look after your
mortgage and any financial needs at a high level of professional standard.”

11. Differentiate yourself from the rest
There are more than 20 thousand brokers out there, selling pretty much the
same products as you do. How do you convince the prospects that you are the
go-to person for their next mortgage?
We are in the early stage of selling process and the prospects are yet to
experience how you deal with their requirement and application.
So it is important to behavior consistently as a professional of high level of
standard from the very beginning.
Here are some tips of enhancing your image of professionalism:
• Do home work before meeting customer
• Provide your profile page to prospects
• Always use email and sms to confirm appointments and acknowledge.

12. Validate value with tangible proof
Borrowers often focus on the interest rates when we discuss different loan
product options with them, albeit the difference in actual cost may be minimal.
It is important for us to compare the loans with actual repayments, rather than
interest rates.
In cases of refinancing, it is also important to compare the repayment and
actual savings between the existing and proposed loans, to demonstrate the
benefits of refinancing.