Mortgage Selling Tips to Finish Strong in 2020

Use Q2 2020 to set up a strong 2nd half of the year

There are some key mortgage selling tips we can execute on as the mortgage industry enters uncharted waters in Q2 of 2020. Because of COVID-19, let’s first take a pause to be appreciative of what we have. For the majority of us, we have our families working together at an unprecedented level of cooperation under trying circumstances to say the least and for the business we work in, a healthy market of opportunity with refinances and purchase customers still able to do loans with us.

Provide Trust with a Positive Outlook

The mortgage selling tips we need to finish strong in 2020 come with some challenges. Our challenge is to maximize every customer encounter we get with the highest level of skill we can deliver, and maintain a positive approach with our customer to help them take advantage of the low rates we find the mortgage industry providing for the borrower. It is crucial now, more than ever, we realize that picking the right product for our borrower and developing a true awareness of what their long-term goals are, by being optimistic about the future for them, their family and their vision AFTER this pandemic passes, will be essential in establishing the most important factor in the borrowers decision making criteria, TRUST!

Set Realistic Expectations with Borrowers

An important mortgage selling tip is setting realistic expectations about the mortgage process and what the refinance means to each individual borrower through financial analysis. We can give the borrower an upbeat message about what lies ahead through financial savings into the future. For example, if you can save the borrower as little as even $100 a month through a rate and term refinance, let them know that is $1,200 over the next year and $6,000 over the next 5 years (always maximize the number over a five year span as people can visualize that easier than $100 a month). Positive energy is always needed in a mortgage transaction between a lender and a borrower. Over the next 90 days this will be more important than ever as people are prone to worry about their job and their family and need a positive interaction to feel good about, during this uncertain period of time.

Be an Asset to Referral Partners with Training

The purchase market will definitely need some different rules to play under since a key component of buying a home is the excitement you feel when you see the house you desire to purchase. Currently, with the lack of traditional open houses occurring due to COVID-19, many Realtors are converting to virtual tours and trying to coordinate video meetings via technology like Zoom or Webex to provide that inspiring visual experience.

An often-overlooked valuable mortgage selling tip is providing knowledge to your agent on how to use technology and social media. You will have a leg up on lenders who are not providing essential ADDED VALUE tools to help your Realtor partners today. As discussed in a meeting last week with Ben Smidt (Loan Officer Hub creator) and Steve Kyles (Loan Officer Leadership Podcaster) there are a variety of tools you can offer to your real estate agents to guide them through this key second quarter period where they do the majority of their purchase business (April through October every calendar year). Watch the full video Zoom call titled, ‘Systems, Structure, Selling Skills and Messaging for Loan Officers’.

Go the Extra Mile for Realtors and Borrowers

In addition, a mortgage selling tip we all need to never forget, is that the Realtor will remember the lender who was willing to go the extra mile for them when the majority of lenders are swamped with refinances and not making any calls on them during this tough period of their selling season. NOW is the time to make at least one to two contacts of past and new Realtor relationships every week during the second quarter, to let them know you value their business and will work with them during this time. I firmly believe the second half of 2020 will be a major purchase market continuing all the way to the end of the year. Realtors will want to work with the lender who was giving them support now, and not when it was convenient in July or August.

It’s hard to predict when this horrible pandemic will end, but we all can prepare for the better times ahead in a mortgage industry that is ripe with opportunity. Selling is a year around event. Certain times are better than others, but now is the time to sharpen your skills by reaching out and being at your best with every borrower opportunity you get and by working with your Realtor partners now, instead of when you aren’t busy with refinances – make the time today and it will pay dividends in the second half of 2020.

We are available for individual virtual online coaching sessions through this tough period and are actively doing that with many Loan Professionals right now. We can be reached on my website or via email at

Good luck and good selling!