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MC Sales Meeting - Stop RateShopping

1/31/10 10:12 AM
With HUD encouraging borrowers to rate shop and with Google making it easier to rate shop. A story about how to reduce rate shoopping and turn the new GFE into an opportunity. Watch this 10 minute video at your next sales meeting
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Rated 4.5 from 13 votes
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r.cardinali - 2/8/10 1:47 PM
I really like the video. Super! Escrow closing 60 days! client applys with you. They like your lingo but let you know weekly they are still watching the market. Amazing. I run into a ton of this! Buyers utilizing your knowledge and still leaving, regardless of the expert factor. Lock em at 5% and they leave for 4.875% 1/8th over nothing. Funny.
jglynn - 2/3/10 12:09 AM
you know what i love about this video? it's the message about attitude. the best thing (in my view) you have done for our industry over the last few years has been to create and build a community, turning the concept of competition inside-out, and fostering collaboration, peer to peer support, and education. Without this, it's pretty easy to develop a chip on your shoulder about the way consumers shop. A lot of the time it can really challenge our sense of pride. But you remind us that A) it's the way it is and B) there's a positive way to deal with it. Start by accepting it for what it is, and then take control of it. Getting frustrated or giving up on a prospect because they don't immediately conform to your idea of how business is conducted is a lose-lose. wasted energy, and a failure to close the deal. For every time I've heard a sales manager or industry trainer preach the idea that you can refine your client database to people who dont care about rates as long as you have great service, this brings it all back to reality. They're always going to care about the numbers, and they're never going to bypass that step. Accept it, own it, and take control of it. Good stuff. thank you.
alanhwhite - 2/1/10 3:10 PM
Dave, What can I say other than I am completely blown away! I wish I could have thought up this strategy 5 rate shoppers ago! You are right. Having the relationship gets your foot in the door, but does not guarantee you will get the repeat business. Using this strategy really ups the odds that you can land the loan.
jmcadams - 2/1/10 9:25 AM
Dave, This video is terrific. Right on the money. RateWatch is a game changer. I switched from MMG to Ratewatch and could not be happier. You will be shopped more than ever with the new GFE. With Ratewatch you will stand head and shoulders above the competition and close more loans.
Helen_Williams - 2/1/10 8:54 AM
Hi Dave- this was a wonderful way to start out the week! I must admit I have been having a problem with my ego getting in the way when past clients call and give ME that same line. Thanks again! Helen
drawitch - 1/31/10 1:20 PM
Hey Dave and Scott...this video is amazing on many levels. The content and specific ideas are spelled out clearly and the phychological message is loud and clear. One is left with two choices; Fight the Tsunami of change that is charging upon us and be crushed by the wave, OR buy a surf board and go for the ride of a life time. Change will crush many while at the same time creating amazing opportunties for those that adapt! Thanks for sharing the video!

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