Winning Mortgage Brokers Think ‘Challenge’

Oct 22nd, 2014 | By FCT

It’s all about leading the conversation…where it serves everyone best: a solid sale

What differentiates a highly successful broker—meaning: someone who retains and grows their network rather than ‘churning’ it—is brutally clear in reading The Challenger Sale.

The differentiator is the ability to grow and evolve the relationship: the catchphrase is ‘challenge it’, but the upshot is simple. In order to stay ‘top of mind’ and not waste the terrific energy you’ve expended to get your client network to this point, The Challenger Sale argues, you have to grow and keep growing client perceptions of the possibilities of a relationship with you.

That’s the differentiator, because without instilling confidence in each and every person you meet that yours is the best brokerage experience around, your relationship with those prospects inevitably fades over time.

The research examining this is remarkable. It’s deep and broad and far more extensive than the usual sales research–at press time, some 6200 use cases in total, first examined in the dark, post-global financial crash days of 2009, when an Australian research council asked an uncomfortable question: why do some salespeople never seem to lose momentum, even in the hellish conditions of 2008-2010?

Those who succeed—notably in sales-driven industries like insurance and manufacturing—persistently challenge literally everyone of their acquaintance (clients, prospects, peers, and managers) to learn more and expand the customer’s expectations of the relationship.

Yes, a clear appreciation of the customer’s business is mission-critical but equally important is the ability, the research demonstrates, to address value head on—to challenge the customer’s understanding of his or her own situation to benefit both parties.

These ‘teachable moments’ pivot the relationship and drive the confidence that closes sales, builds value and extends word-of-mouth networks. Customers are far better informed than they were in 2008; ‘findable business’ has all but vanished since—the real issue is differentiating yourself from the herd in 2014 to capitalize and close those deals in the network you have at present.

Additional Resources

Great review/summary of The Challenger Sale

Sespresso quick-read of The Challenger Sale

Categories: EXPERT/ease

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