How To Write Mortgage Sales Scripts

How To Write Mortgage Sales Scripts

The scripts you use to engage with potential customers are a crucial part of your business strategy. And when you’re creating an industry-specific script, like mortgage sales scripts, that process can be even more intimidating. 

In the midst of a shifting and unique housing market, making great connections with your prospects and setting the foundation for a strong, successful relationship will set you apart from the competition. 

And a big way to make those connections is through your sales calls. So how do you create great mortgage sale scripts that engage?

3 Tips Before You Write

Before you even begin writing, there are a few general tips that will help you make your mortgage sales scripts the best they can be. 

• Be prepared to ask questions and build genuine relationships.  

You want your scripts to be the springboard for conversations that engage and convert. They serve as the guide and baseline, but your agents should be well-trained and skilled communicators who know how to ask thoughtful questions and keep a conversation going. 

You can prepare some questions ahead of time and include them in your mortgage sales scripts to draw out your leads, get them talking and help you understand their biggest motivating factors. Almost everyone who’s “in the market” for something is, under the surface, more concerned about the experience than the actual product or service itself. 

When it comes to services that work closely with a client on such impactful life moments, such as purchasing and financing a home, the client will choose the company and the person they feel safe and comfortable with and know they can trust. 

While professionalism is important, building relationships requires the right amount of authentic interaction to create a human connection that goes beyond the numbers and data. Do your due diligence to research your lead beforehand, and read the “room” on each call you’re in to discern how best to make that connection.  

• Craft a Personalized Script.

One of the ways you can seek to make that connection is by personalizing your scripts. Different leads come from different sources and that matters when it comes to crafting your mortgage sales scripts. 

Consulting with your CRM becomes essential for this step. Your past interactions and the data recording that information serves to guide your future calls. What is working with which leads? What isn’t working? How can you tweak a good script into a great script? The data doesn’t lie, and the knowledge you gain from diving into the data can make a huge difference in the success of your scripts.

• Prepare Your Agents for the Inevitable Objections

While we all wish our leads would immediately respond to our offers with a “Yes, YES, a thousand times yes!”, it’s never quite that easy. Prospects have questions that need to be answered, concerns that need to be addressed, and fears that need to be calmed. 

You can’t anticipate every possible objection, but within the industry and within your target leads there are common questions and concerns that pop up on the regular. You can prepare your agents for such questions regarding qualifying for a loan, interest rates, or closing costs, and train them on the most effective responses to these concerns. 

We cannot emphasize this enough: the quality of your agents and the time you invest in training will directly impact your conversion rates. If your leads are immediately provided with thoughtful, simple, factual answers to their concerns, trust will skyrocket and your pipeline will stay full. Support your representatives and give them all the information, knowledge, and training they need to make successful calls. 

2 Common Call Scenarios

Now with those tips in mind, let’s move on and look more specifically at the two most common call scenarios for a mortgage company: finding leads for a new mortgage, or refinancing a mortgage. 

Both of these options require an initial call and likely a follow-up. An ideal mortgage sales script isn’t super complicated. It should hone in on the lead’s pain points, highlight what sets you and your company apart, and be quick and easy to understand.

• New Mortgage Calls

–Initial Call

“Hi (lead’s first name), this is (your name) calling from (company name). 

We heard you were in the market for a new home, and I wanted to give you a call to share our services with you. Is it an ok time to chat?”

 It’s always a good idea to check and make sure the time is convenient for a call. If you catch a prospect at the wrong time, pushing for conversation right then and there will aggravate your lead and leave a bad taste in their mouth. Plus, it’s just the decent and respectful thing to do. 

Remember, a response of “this isn’t really a good time” doesn’t mean the opportunity is closed. That’s what follow-ups are for! 

But if your lead does give you the go-ahead, keep moving forward. 

“Are you a first-time home buyer?” 

This question allows the prospect the opportunity to share more about their home-buying journey and current status, giving you more insight into their needs and allowing you to further personalize the call. If this is their first time purchasing a home they’re most likely excited about it so be sure to join them in expressing that emotion! Shared experience and emotion is a sure way to lay the foundation for a strong connection.

“Well, it seems like we might be a great fit for you. Here at (company name), we’re committed to providing (enticing service options) that will save you time and money when you purchase your home.” 

Include some specific benefits your company offers or impressive statistics to spark interest. But don’t overwhelm with a wave of numbers or information right away. Stay focused on the client, their pain points, and how your company can come alongside and help them meet their goals.

If they seem interested, offer a quote and take down the necessary information to follow up ASAP. 

-Follow-Up

Whether you had to reschedule a call due to unavailability or if you didn’t seal the deal the first time around (a common occurrence!), your follow-up call is another important move in the sales process. Your script should be clear, concise, and persuasive, but not pushy.

“Hey (lead’s first name), this is (your name) from (company name), following up on our call from (date the call was made). 

If you’re still interested, I’d love to share how our company can help you with (address specific known pain point from previous call or most likely pain point from previous research).”

A good tip is to focus on making a call centered around providing value—offering your prospect a personal service you know can help them. A mere “hey, just checking in” is often too weak and indirect to generate results. Consult your CRM beforehand to make sure you’re on the right track and highlight the services you can offer them personally. 

You can also draw them in by asking what their greatest need is right now. If their needs have shifted since the first call, you can pivot and seek to address that by focusing on another aspect of your services if necessary. 

If you have specific resources that would serve to inform and help move your prospect down your sales funnel, such as a blog off your company website or a service description, make room for that in your mortgage sales scripts. Some people process information better on their own time than on a call and this can be a helpful way to keep the ball rolling. 

• Refinancing a Mortgage

-Initial Call

“Hi (lead’s first name), this is (your name) calling from (company name). 

I saw you sent us a form requesting a rate quote. From the information I have I’m sure we can secure a new rate for you that will save you a lot of money over the term of your mortgage.”

Important note: Only say this if it is true! If you have the lead’s info and it proves there is a high likelihood they are qualified and you can truly help them, let them know. But if you have inadequate information or you’re unsure they’ll be a good fit for your services, rephrase your script accordingly. 

Ex: I saw you sent us a form requesting a rate quote. I’d love to get some more information so we can explore your options together! 

Don’t make statements if you can’t deliver on them. Just…don’t. This will reflect badly on your company, your brand, and your reputation. Building trust in business is essential to rise above the competition. Even if it turns out that the lead isn’t a fit, they’ll know you treated them with honesty and respect, and that experience will speak volumes. 

“So I see you currently have a (__) year loan with a (____) rate. Is that right?

Awesome. Before I work up a quote for you, can you tell me a little bit about what led you to look into refinancing at this time?” 

This info-gathering question will grant you the inside scoop on your prospect and their needs, determine level of serious interest and qualify, and provide direction for moving forward. 

If you have the opportunity to work up a quote then and there, that’s a great way to give your lead a solid, numbers-based reason to close. Hearing the amount of money they could be saving every month is enticing to say the least! Make sure to provide exact amounts with no rounding up.

Either way, wrap up the conversation with an offer of an official proposal sent via email. That way your lead will have the numbers in front of them and they can reach out to you with any questions. 

–Follow-Up

Leads looking into refinancing can be a bit slow to respond as they already have a mortgage and the urgency that is present when obtaining a new mortgage isn’t driving them to action. They might be unsure if they really want to go through with a refinance at all and are just “browsing.” Thus, follow up to give them some no-pressure encouragement to seal the deal.

“Hey (lead’s first name), this is (your name) from (company name), following up on our call from (date the call was made). 

If you’re still considering refinancing, now’s a great time to move forward as refinance rates are still below your current rate. I figured I’d check in to see where you are in the process and if we can help you save some money!”

The knowledge that mortgage rates are lower than their current mortgage can stir up some FOMO and encourage them to refinance. Who doesn’t want to save money?

In the same way you would with any follow-up call, listen closely to your lead to determine what direction they are heading in and respond accordingly. 

And don’t be discouraged and give up after only one follow-up call. Around 80% of sales made require 5 follow-up calls after initial contact. Perseverance pays off! 

Trust the Experts

The process of writing mortgage sales scripts, then calling…and calling…and calling again can be a tedious and time-consuming task for any company. Your sales and marketing team don’t want to spend all their time prospecting and bogged down with busy-work, and it’s costing you money when they can’t do what they’re hired to do! 

We get it. That’s the whole reason we started Squeeze. We have expert reps in a variety of industries, including mortgage, who take on these calls FOR you. They know their job inside and out, and with a dedicated client manager working as a true partner for your company, you can sit back and relax knowing that we are representing you exactly the way you want. 

Interested? We don’t blame you. Contact us today to start making the most marketing spend right now!