As a salesperson, it’s your job to lead the phone conversation in such a way that makes your prospect feel comfortable and in control of their own decisions. In order to do that, you’ll need a powerful sales script and a few key one-liners to help move the conversation along.
According to research from Gong.io, successful salespeople talk about 54% of the conversation. Salespeople who spoke less than half of the conversation were less successful.
In our guide of mortgage loan officer scripts, we’ve presented 15 helpful one-liners that will help you with every step of the sales call, from the opening lines to qualifying questions, talking about price, closing, and even giving specific openers for dealing with aged leads. Let’s begin!
Your opening lines should be short and to the point. In a few sentences, tell them who you are, pique their interest, and try to ask a question that can’t be answered with a yes or no.
Start by introducing yourself briefly: “Hi, [NAME], this is Bill from [COMPANY NAME].” Then ask one of the following questions to get the conversation started. If possible, ask them an open-ended question so you can start writing down notes in your CRM.
1. How long have you been searching to buy a place?
This is a great open-ended question to learn more about your prospect and their current situation.
2. Thanks for requesting info about mortgages online. Have you bought a home before? How are you feeling about the process?
Ok, so this starts with a yes or no question, but it then leads them to provide more valuable information to get the ball rolling.
3. Thanks for requesting more info online, can you tell me more about the type of place you’re looking to buy – a house, a townhome, a condo?
Some leads don’t specify the property prospects are looking to purchase, so it’s a good starter question to get them talking about what type of home they want to purchase.
Mortgage Needs Analysis
You’ll need to ask qualifying questions in order to determine your lead’s sales-readiness. Have they been searching for mortgages for a while? Are they just starting the process? These questions will help you understand your buyer’s needs so you can offer them solutions to their problems.
4. What is the biggest challenge or frustration you face with your current mortgage process?
Mortgages are complicated. Luckily for your prospect, you are a mortgage expert who can walk them through the steps. Once you know their problems, you can work with them to offer solutions.
5. What prompted you to get a mortgage?
Try to determine your lead’s “trigger event,” the main reason why they’re purchasing a home. Were they recently married or have a growing family? If you can tap into their true purpose for buying a home, you’ll have a greater shot at appealing to your lead’s emotional reasons for buying a home.
6. What does your ideal mortgage look like?
Can they define what their ideal mortgage is? This is a good question to help you understand how much your prospects understand about mortgages. If they say “I don’t know” then it’s a great opportunity to assure them you’ll help them find their ideal mortgage.
Talking About Mortgage Rates
They say you should never talk about price before you talk about value. If your prospect is keen on discussing prices right away, try using one of these one-liners to skillfully deflect and continue gathering information.
7. It depends on how much help you need. Can I ask you a few questions?
If they say yes, continue your usual line of questioning to determine their realistic budget, and whether or not they’re being unreasonable.
8. If you let me know your approximate budget per month, I can create a service plan based on your needs.
This is a good way to acknowledge your prospect, while also delaying talking about price. Be sure to take notes on their needs, so you can include your reasoning when you send over the price.
9. Let’s find out what works for you, and I can tell you precisely what the price will be, does that sound fair enough?
This is a close variation to #8. It gives you an opportunity to validate your prospect’s needs and concerns, while also telling them that money will be discussed later, not right now.
Don’t lose focus during the phone call! Remember, you are leading the conversation, even if it seems like they’re doing most of the talking. Once the conversation is coming to an end, try out some of these simple trial closes to convert your prospect.
10. Based on what we’ve gone over, is this what you’d like to go forward with?
This is simple and to the point. If they say yes, then great. If they say no, this is another opportunity to find out what their bottlenecks are. And remember, always enter these notes into your CRM!
11. Would you like my help?
This trial close is harmless-sounding and might be a good question to ask prospects who might be resistant to more persuasive sounding language or more concrete next steps.
12. Are you ready to move forward? I can send over the application now.
This is more direct but can be perfect depending on how well your call went, especially if your prospect is looking to speed up the process.
Aged Lead Openers
The key to working aged leads is to treat your prospects as past clients, not fresh leads. Referencing mortgage loan officer scripts, use assumptive language to make them feel as if you’ve had previous contact and that they are already your client.
Roughly half of salespeople give up on a lead after one follow up call, meaning your aged lead is likely to still be in need of a mortgage.
13. I saw you requested more information on mortgages back in [DATE], but we weren’t able to connect. Are you still looking to buy a home in [CITY]?
This phrasing can lower their defenses because it implies you already have a shared history with them (even if you haven’t).
14. I know you were interested in getting a mortgage awhile back. Are you still researching home loans, or have you found one already?
Again, you’re implying that you were sent a fresh lead, not an aged one and that you’re simply following up on a previous interaction.
15. I wanted to follow up with you to find out if you got a mortgage yet, or if there are any questions I could help you with?
If your lead hasn’t gotten a mortgage yet, they likely will have questions, and this is a good opportunity to step in and help them.