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Outbound Script – Mortgage Agent (Refinances)
Hi, is _____there?
Hi _____ this is ______ calling from Search Mortgage, I’m calling with regards to your inquiry on (mention the ad they inquired on). Have you finalized the refinance on your home as of yet?
If yes, go to Section A. If no, already got mortgage or need financing anymore go to Section B. AND if you’re conversation falls outside of the script. Go to Section C.
SECTION A
If Yes: (If the lead has already been approved with another lender)
Oh, ok, just curious…What was the interest rate they quoted you and what was the amount they approved you for?
The reason I ask is because 9 out of 10 times we can get a lower interest rate, better terms or a higher approval amount than what your bank has approved you for. We may even be able to get you a higher mortgage amount with lower payments because we have much more flexibility with the amortization that we can offer to our clients. By extending the amortization, it will lower your monthly payments to ease the financial burden and allow you to have more cash in your pocket.
You see the banks always approve you on the lower, conservative side where we approve our clients at the maximum amount allowed.
If you have some time now we can go over some numbers to give you a second opinion on your financing. Or if now is not a good time we can arrange another time more convenient to complete an application over the phone. [if lead is not willing then offer the online app] I can also send you an application link so you can complete it online.
(Objection Handlers)
I understand _(client name)_____ See what people don’t know about mortgage brokers is we can offer exclusive rates based on our close relationships with certain lenders. These exclusive rates can save you thousands in interest over the life of your mortgage.
Would you be interested in saving on your interest payments or seeing if you can qualify for more money or seeing if I can lower your payments? Great! Do you have time to do this now or is Monday at 6 pm [offer your next available time slot] to get started? Or is [Alternative time and date] better?
[if lead is not willing then offer the online app] I can also send you an application link so you can complete it online.
By the way, we currently have a promotion where we pay for your legal or reimburse your appraisal fees. [Mortgage agent to cover this fee, if you do not want to cover, do not offer this.]
If No: (If lead has NOT received financing as yet)
Great, I would be happy to go over some options and solutions with you, it’ll take a couple minutes. What would you say is the approximate value of your home?
[if they give value, move down to prequalifying section]
[if they object (1)]
Completing an application is of no cost or obligation, it can be done over the phone now if you have a few minutes. After we’re done, you’ll find out how much the banks are willing to lend you, your interest rate, monthly payments and credit score is right on the spot and if there are any blemishes or items that shouldn’t be on the bureau we can deal with them right away. Do you mind if I ask you a few questions so I can come up with the best solution for you?
By the way, we currently have a promotion where we pay for your legal or reimburse your appraisal fees. [Mortgage agent to cover this fee, if you do not want to cover, do not offer this.]
[if they object (2)]
I understand what you’re saying, I want to be able to help you get the best rate and the highest mortgage amount possible. Banks use a conservative value, I can go to the max on my end. For me it’s very disappointing to see clients get short changed when they can qualify for so much more and I’d hate to see this happen again to you. Does what I’m saying make sense?
Great, do you have time now or does Monday at 6 pm sound? Or is [Alternative time and date] better? What works better for you, Days, Evenings or Weekends? [if lead is not willing then offer the online app] I can also send you an application link so you can complete it online.
Okay great. I look forward to meeting/speaking with you [and____] this [Date at Time]!
Have a great rest of the day [Name]
[if they object (3)]
I totally understand and I thank you for the time that you’ve given me today. Would you mind if add to my email list in order to keep you in the loop and informed regarding market trends and rates?
[if they give an objection for completing it now then offer another time]
When is a good time to have you and all the decision makers on a call? I have days, evenings and weekends available. [if lead is not willing then offer the online app] I can also send you an application link so you can complete it online.
Okay great. I look forward to meeting/speaking with you [and____] this [Date at Time]!
Have a great rest of the day [Name]
[if they give a “I don’t want to pull my credit” objection]
When you use a mortgage broker such as myself, I will pull one credit check and use that same report to apply to over 50 banks and lenders. It will save you time and headaches walking across the street to TD then CIBC, etc. I can do that all with one credit check.
[Prequalifying – Questions to Ask for Refinance applications]
- What is the estimated value of your home?
- What is your current mortgage balance(s)?
- Do you have any second mortgages or line of credits?
[if there’s over 20% in equity carry on, if not end the call quickly and ask to follow up in a year]
Okay, based on what you’ve told me we can get up to [$ calculate max potential loan amount ie Value of Home X .8 – Mortgage Balance = Max Loan Amount]. I’m going to get started with the application now. [You can share your screen, it helps get them involved]
SECTION B
If they already Closed their deal and are no longer searching for financing?
ASK THE FOLLOWING QUESTIONS: (Solicit home equity loans or refinances up to 80% LTV)
That’s great __(client name)__ I’m glad you were able to obtain the financing you needed. I hope you were able to secure a great rate. Do you mind if I ask when is your mortgage coming due for renewal, so I can follow up with you then?
Great, and just so you know, we have a promotion where we pay for your legal fees so that this entire process will have no out-of-pocket expenses for you. Sound fair enough?
Do you have any friends or family who are looking for a mortgage? We’re offering a referral fee to anybody who refers us business and on top of that, we currently have a promotion where we pay for the legal fees and reimburse your appraisal fees. [Mortgage agent to cover this fee, if you do not want to cover, do not offer this.]
SECTION C
When the conversation falls out of the script, here are some fillers that will make you sound professional:
Benefits of Refinancing your mortgage:
- Consolidating your debts and putting everything under 1 payment
- Paying off high interest credit cards at a lower rate
- The ability to pay off Consumer proposals, judgements, collection items sitting on your bureau and dragging down your credit score(B & Private lenders)
- Qualify for more than you think by using our maximum approval limits and extended amortizations
- Plus if we find any spots on your credit, we can address them now and we may even be able to settle some of those amounts owing for a lower amount to get more money in your pocket.
How does that sound?
Benefits of using a mortgage broker:
- All our services are free of charge.
- We only pull 1 credit bureau and can send them to as many lenders as we can. Versus you pulling your credit every time you shop for rates at different banks. Did you know every time you pull your credit bureau it lowers your credit score?
- The best interest rates are only offered to mortgage brokers. Major financial institutions such as First National or Street Capital only work directly through mortgage brokers and they usually have lower rates than the big 5 banks.
- 2 in 1 service. Not only do we shop around to the top 30 lenders and have them fight for your deal, we also provide credit counselling. I can tell you simple actions you can do to improve your credit score. Remember your credit score is what yields you a lower interest rate. Most people don’t know that!