Telemarketing is one of the more grueling jobs out there; unfortunately, I was good at it. I ended up supervising and managing. In this article you will learn how to telemarket for leads, especially mortgage leads
1. The “Do Not Call” Registry and Calling Lists
Make sure that the firm for whom you’re generating leads has an appropriate plan in place for dealing with Do Not Call laws. This should apply to any calling list that you use.
2. Develop a Simple Spiel
Your spiel should contain the name of the company you’re representing, your name and your purpose. The one I settled on: “Hi, I’m Michael with [name of mortgage company], and we’re conducting a free analysis, the purpose of which is to lower your interest rate.”
3. Construct a Good Lead Sheet
For mortgages, your lead sheet should contain at least spaces for client name, address, phone number, current interest rate, balance due, approximate value of home, income(s), best time for a loan officer to call back, and the rough one, the Social Security number (for pulling credit).
4. Be Polite
Be courteous but don’t sound like a robot. Simple human decency and some warmth in your voice will do. I tended to find that the people who responded most readily to mortgage telemarketing were “folksy”, so speak with candor and don’t try to be slick. Remember, if you’re generating leads as opposed to actually brokering loans, it’s all about gathering information, not selling a product, so you’re better off helping the potential client feel comfortable with sharing than you are putting him/her into a corner. Hold a conversation. Don’t push the Social Security number, just ask for it and then if you’re given some guff, explain that it’s for pulling credit in order to find out what rates are available to the client. If that doesn’t work, just skip that part and let the loan officer handle it later.
5. Be Persistent
More often than not, the person who holds the mortgage (or who might want to be a first time buyer) isn’t available. When you only get voice mail, try calling at a different time (usually later). If a different family member answers, ask what might be the best time to try back. Sometimes the person you want answers, but she/he is “too busy.” Again, ask for the best time to call back. Don’t just leave your own call-back number, as this puts the ball in the client’s court. You want to get the client to give you a fairly specific time and day for you to call back.
6. Be Punctual
Be prompt and timely when calling back, even though your client may not be so punctual. If you’ve already spoken with a client, when you do call back, be sure to immediatly establish a connection to the last time you two spoke. Remind the client that you spoke on such and such day and that he/she asked that you call back on this day and at this time. You’ve already made one cold call, you don’t want to push your luck with two. Sometimes it takes weeks or even months to reach a person again, but keep trying since you already have your foot in the door.
Tips & Warnings
- Remember the three P’s
- Don’t take it too personally when you are greeted with rudeness, since it’s not your unique personhood that’s being attacked