Chapter 10: Building a business as a mortgage agent Flashcards
Post-purchase cognitive dissonance
Commonly referred to as buyer’s remorse, this refers to the emotional state a buyer is in after
completing what is typically a large purchase and who is no longer in an emotionally charged
state.
Pre-purchase research
The research done by a potential purchaser of a more expensive item. This may include online
research as well as contacting past clients, calling service providers, etc.
In what ways can a mortgage agent differentiate him or herself from the competition?
(4)
- Product availability
- Services
- Professionalism
- Niche marketing
What are five tips for success when using a call script? (5)
- practice makes perfect
- use a mirror
- write things down
- make these words your own
- do not be afriad
Discuss the benefits of using a call script.
It allows the Agent to remain focused on covering certain topics that he or she feels are necessary in the call and allows the Agent to refer to standard responses for typical questions. Professional Agents always use a script, whether in paper format or by committing the script to memory.
What is a cold call?
A cold call is an outgoing call made to someone who is not known to the Agent and who has not been referred to him or her.
What information should be provided to the caller within the first ten to fifteen seconds of a call?
(2)
- Who you are.
- The benefit you will provide to him or her.
Discuss the differences between a Mission and a Vision Statement.
A Mission Statement is a plan for companies and people to accomplish the goals they set. It is designed to shape the company’s or individual’s identity and is typically based on a vision, goal, or ethics.
**A Vision Statement **is something that the business or mortgage agent aspires to become. It should illustrate the core belief of the business or mortgage agent and effectively communicate that to the reader.
What are the benefits of an audio business card?
Audio business cards are definitely an attention grabber, telling potential clients that the mortgage agent is different and serious about their business. They are less likely to be thrown away and tend to peak people’s curiosity, causing them to be listened to in their entirety. Audio business cards are gaining in popularity and can typically be purchased with software through businesses such as Staples, Future Shop, etc.
Why are testimonials beneficial in the marketing of intangible products or services?
The use of testimonials can have the effect of reducing the need of a consumer to touch or feel a product. Testimonials from satisfied clients have the effect of personalizing the process. The consumer can relate to another person who has had a beneficial experience and translate that experience to him or her. In essence this provides the consumer with something tangible: another consumer who can be seen or heard.
