We all know that good customer service is essential to the survival of any business. In the reverse mortgage industry, “what can I do for you?” is one of the most important questions you can ask a potential client.
You need to know a client’s personal situation in order to be able to help them accurately. Everything brings something different to the table, everyone is going through something different, everyone hopes for something different in retirement. In short, there are many factors that seperate a present client from a future one.
For this reason alone, the first thing out of your mouth should always be “what can I do for you?”
Most importantly, this allows the consumer to lead the conversation and tell you what they need, ensuring that you know enough of their situation before any business can take place. With a reverse mortgage, this becomes even more important because consumer expectations form an important part of the spectrum.
For example, a client with enough funds to sustain their retirement for the time being but hoping to secure a “rainy day” fund for any future (unexpected expenses) may be better served by a line of credit, which gives them enough freedom to take as much as they want or need depending on the week, month or year.
However, a client that may need to supplement their fixed income monthly may be better suited by a tenure payment (equal monthly payments for as long as the borrower occupies the home) or term payments (equal monthly payments for a specified amount of time).
In short, consumers all bring something to the table and their situation should dictate what you do. Your business approach should be contigent on your client’s needs or possible needs in the future. The closer we work with our clients, the more potential for success.
It all starts with one question:“What Can I Do for You?”