The Secret To Successful Communication

Knowing everything about the mortgage industry, asking great questions, and delivering the perfect close doesn’t matter if you can’t get callers to speak with you. The stronger your communication skills, the easier and more effective the sales process will be.  

Communication in sales is often thought of as a salesperson giving callers information and answering their questions. Successful sales communication motivates callers to give information to you, including sensitive information like date of birth and social security number.

Getting callers to willingly share information is largely based on your behaviors and how you’re interacting with the customer. Customers develop trust when loan officers display solid competence and demonstrate high character. When you listen to high performers talking with customers you will hear the loan officer mirroring their customer. I have heard customers state out of the gate that the loan officer has 1 minute to explain the opportunity and the loan officer replied “I’ll do it in 30 seconds” and sure enough 60 seconds later he was pulling the customer’s credit. That same banker then took a call and chatted with a lady for 8 minutes about her children. The secret to more successful communication begins with understanding your own communication preferences and tendencies and how you can adapt to others’ preferences.

Consider which of the following primary communication styles is most like you:

• Direct Communicator: You get to the point quickly and share information in a concise, succinct manner.
• Expressive Communicator: You value interacting with others and socializing. You share information in an upbeat, enthusiastic way.
• Supportive Communicator: You appreciate a calm, steady approach. You share information by listening more than talking.
• Analytical Communicator: You like facts and figures. You share information in an organized manner and back statements up with data.

There is not one “best” style when it comes to communication. The best communicators understand their own patterns and adjust their approach based on who they’re communicating with. Have you ever been in a situation where you felt more like a number than a customer? It’s a poor experience when you’re working with someone who doesn’t see you as an individual and certainly not one that inspires you to buy.

If you want to close more loans you can’t sell how you’d like to be sold to. Instead of taking a one size fits all approach and selling based on how you’re most comfortable, adapt your communication to the buyer’s style.

We know that customers all buy differently. For example, some people prefer to buy and make decisions quickly, others slowly. Some customers want a lot of information and detail, for others a simple, “what’s the best rate?” is all they want to know.

Some buyer types make purchases quickly and others take their time and try to avoid risk. Some can be intimidating to the point of being rude; others are quite passive and easily manipulated.

These personality variables can make selling a challenge at times. So it’s important to know how to identify what type of buyer you’re working with and then understand how to best connect with them.

Begin by listening to the caller’s tone and pace. Are they speaking loudly with a faster pace tempo or quieter and more subdued? Next, pay attention to what they’re saying and listen for their level of assertiveness and openness. Those small hints can reveal a lot about the type of buyer you’re working with.

Here’s an overview of the four primary buyer types:

• The Dominant Buyer: This buyer type is highly assertive but not very open. They’re relatively impatient and controlling. They want information — fast — so they can decide and move on.
• The Expressive Buyer: This type of buyer is also highly assertive and unlike the dominant buyer – very open. They are impulse buyers with a short attention span. They make quick decisions and buy from people they like.
• The Supportive Buyer: Like the expressive buyer, the supportive buyer isvery open but not assertive. They are easy going and stability is important to them. They make decisions slowly and dislike negotiation.
• The Analytical Buyer: This buyer is generally not very open nor assertive. Analytical buyers are naturally questioning and methodical. They rely on data and are heavily researched before making decisions.

Keep in mind that most buyers are a mix of each style and won’t fit neatly into one of the four categories. However, once you’re familiar with the primary styles, you can start to adjust your approach to better connect with each.

Do you want to know your preferences? Click this link and answer 14 simple questions to receive your 24-page profile all about YOU!