Latest / Mortgage Marketing Radio / Magic Words That Grow Your Influence and Increase Sales with Phil M. Jones
Transcript
- 0:00In today's highly competitive mortgage industry, building profitable relationships with
- 0:04the real estate agents is essential for success.
- 0:06However, finding effective ways to secure agent relationships can be a challenge.
- 0:11With so many mortgage loan originators vying for the attention of real estate agents,
- 0:15it can be difficult to stand out and establish meaningful connections.
- 0:20Our new case study featuring loan officer Chris Cogill is a must-read.
- 0:25Chris has closed a remarkable 36 million in funded loans from agent referrals.
- 0:31And in this case study, he shares his proven strategies for building strong relationships
- 0:34with real estate agents and leveraging those relationships to drive more business.
- 0:39To get your hands on this resource, head over to LOKestudy.com and download your free copy
- 0:45of the case study today.
- 0:47You'll find actionable insights and practical tips that Chris used to close 36 million
- 0:52in funded loans from agent referrals and how you can, too.
- 0:56Don't miss out.
- 0:57Go check it out right now, visit LOKestudy.com and download your free copy today.
- 1:03Hey, listeners, what's up, it's Jeff Zimfer.
- 1:11Thanks for tuning in to another episode of the Mortgage Marketing Radio podcast.
- 1:16I just want to say, I appreciate you.
- 1:18I appreciate you.
- 1:20You're listening to this.
- 1:22I wish I could be there in your car, in the gym, maybe spotting you on that extra
- 1:26little bit of weight that you're going to push, maybe run on the treadmill together,
- 1:29whatever you're doing while you listen to the, walk the dogs.
- 1:31I don't know.
- 1:32What are you doing while you listen to the podcast?
- 1:34I would love to know, jump into our Facebook group and let me know where you listen
- 1:39to the podcast, right?
- 1:40Is it in the gym?
- 1:41Is it while you're multitasking or doing other things?
- 1:43Is it in the car?
- 1:44Who, you're probably not in your car that much anymore, I guess, with COVID.
- 1:47I don't know if it depends where you are in the country.
- 1:48But I just love the, you know, I want to interact with you guys more at a deeper level.
- 1:53And so you may or may not know, we've got a Facebook group, right?
- 1:56Just for podcasts, radio listeners, you can go to Facebook and just type in Mortgage
- 2:00Marketing Radio and put in a request to join the group.
- 2:03I mean, make it clear we do have some questions that you, we request you ask before you are
- 2:10entered and permitted into the group.
- 2:12Part of the reason we have these questions is to kind of separate the wheat from the
- 2:15chaff, right?
- 2:16Keep the spammers out, keep like the third party vendors who just want to pitch you out.
- 2:20It is exclusively right to the best we can control it, mortgage professionals who have an
- 2:26abundance mindset and are there to collectively learn from each other and we hope to see
- 2:31you there.
- 2:32So go check that out.
- 2:33One last thing too is as you're heading into Q4 here and you're thinking about, you know,
- 2:38your plan for the end of this year, whether it's to finish strong or the new year, look,
- 2:43I don't know where you're at in terms of your focus on purchase versus re-five, but
- 2:46let's just face it, right?
- 2:48A lot of people are talking about how the mortgage, the refinances are going to fade away.
- 2:56As a matter of fact, the latest quote I saw was, I can't remember if it was Stratmore or
- 3:00if it was a mortgage banking association that said that the re-fives are going to drop,
- 3:04their prediction is 56% in 2021 and purchases are going to rise, 3%.
- 3:10So my question is, are you in front of that wave and the wave of purchases, right?
- 3:15The millennials, the large demographics, that's favorable for us in the mortgage and real
- 3:19estate industry in the coming years because of millennials, because of favorable interest
- 3:23rates, you know.
- 3:25So without going too deep on that, my real question for you is, are you prepared to take
- 3:28advantage of that wave?
- 3:29Are you in front of the wave?
- 3:31Are you actively seeking oil wells that will continue to serve you for the long term?
- 3:36Oil wells, by the way, one example of an oil well is a real estate agent, right?
- 3:41Five million transactions happen every year.
- 3:43Real estate agents still control about 84% of those, so they're still at the top of the
- 3:48funnel.
- 3:49Yes, we want to go consumer direct, there's different strategies for that.
- 3:52But if you are looking for the, if you will, the least costly, highest conversion, least
- 3:58effort, return, right, on a lead strategy, it is through the referral of a trusted real
- 4:04estate advisor partner.
- 4:07What I help you do is I help you grow your referral partner relationships without ever
- 4:12calling a real estate agent, without ever begging, without ever chasing, right, without
- 4:16ever selling your soul.
- 4:18How do we do it?
- 4:19We lead with an educational platform that acts as a magnet, attracts the right agents and
- 4:23follow a proven process for you to get conversations and referrals.
- 4:28If you want to learn more about that, you can go to mortgagemarketing.pro, check out
- 4:31the short video we put up, that'll give you more details if that's for you.
- 4:35All right, now let's transition into my special guest for this episode, who I was thrilled
- 4:39to finally be able to bring you.
- 4:41It was quite a long time in the making.
- 4:43And look, as we continue to go through this shift in the market, right, from my book Disruptor
- 4:50Die, How to Survive and Thrive the Digital Real Estate Shift, listen, I think the most
- 4:57important skill we're going to need if we're going to win with Disruptors in the market
- 5:02and, you know, whatever Zillow doing is, I don't know, and all these, you know, we're competing
- 5:05against a lot of big, well-known name brands.
- 5:08How do we not only maintain our momentum, but how do we just simply become more effective,
- 5:13if you will, without adding additional overhead to our role and responsibility, I think the
- 5:18most important skill we need today, as a professional, is the skill of communication, the craft
- 5:24of communication.
- 5:26And a lot of communication is based around curiosity and questions.
- 5:32And knowing what are the questions to ask, the right words, when to ask them.
- 5:39And so I wanted to bring Phil on because I was introduced to Phil, originally by a podcast
- 5:43I did with Chris Smith, who's one of the co-founders of Curator, Chris and his partner, Jimmy,
- 5:51my special guest wrote a book called Exactly What To Say for Real Estate Agents.
- 5:58And I want to suggest that you get this book for yourself, but also get a few copies for
- 6:04your core realtor partners, right, your top five, top 10 realtor partners, or anybody
- 6:08you're prospecting.
- 6:09If you're actually going after agents, you want to send this book to them.
- 6:13Exactly what to say for real estate agents by Phil Jones.
- 6:15It's specific for real estate, and then it's chock full of examples, of phrases, of words,
- 6:21of how to overcome objections, how to have your first consultation, how to really be
- 6:27an effective, clear communicator, how to build quick trust with people, and so forth.
- 6:32I mean, it's one of the best books I've seen when it comes to dare I say the word scripting,
- 6:36right?
- 6:37And you're already scripting.
- 6:38The question is, how good are you?
- 6:40Are you unconsciously using scripts?
- 6:43Most of us do, we've fallen into the rut of saying the same things over and over again.
- 6:46So I encourage you to check the speaker notes for this episode, show notes, and there'll
- 6:52be links to Phil's books.
- 6:54He's actually got, I don't know, four or five books out there.
- 6:56He actually also is known as the most listened to audio business book on Audible for his
- 7:05audio book called How to Persuade and Get Paid.
- 7:08And that is actually a Broadway play, a one-man show, one time that he did on Broadway,
- 7:15that Audible got behind in sponsored and they had a bunch of other sponsors.
- 7:18That's not on YouTube, it's only available on Audible.
- 7:20So if you're an Audible person, check it out, Phil Jones, if you're not, now's the time
- 7:26to maybe check it out.
- 7:27And like I said, I'm going to put links to all that in the show notes to Phil's Instagram
- 7:30page as well.
- 7:31He shares amazing content on Instagram.
- 7:34His handle is, let's see here.
- 7:36And as it, Phil M. Jones UK is his Instagram handle and of course his website is PhilMJones.com.
- 7:46Look for links in the show notes, but I just love the conversation that Phil and I have
- 7:50together about communication, about better questions and words, words, how words, the words
- 7:57we choose and use make a difference.
- 8:00Hope you enjoyed this episode without further ado.
- 8:02Let's get into this week's show.
- 8:04Phil Jones, welcome to the show.
- 8:06So good to be here Jeff, thanks for having me.
- 8:08So glad to have you, especially it's been a long time and I know you're a busy guy in
- 8:11the calendar.
- 8:12The world has changed quite a lot, I think since we originally communicated, yeah, lots
- 8:17of changes going on.
- 8:19So I wanted you to bring you to the conversation as you and I were talking just a moment
- 8:23ago, you and I originally were connected because of the book you co-wrote with the gentleman
- 8:27from Curator, which is exactly what to say for real estate agents, but you've, that's
- 8:33I think your fourth book, right?
- 8:34You have exactly what to say, exactly where to start, how to persuade and get paid, exactly
- 8:39how to sell.
- 8:40I mean, yeah, I got eight or nine titles out in the world somewhere, but three main ones,
- 8:47I want to say how to sell and where to start and then we did the special edition of
- 8:51exactly what to say with the guys at Curator and how to persuade and get paid is an audible
- 8:56original.
- 8:57So that's a audio only program recorded live off Broadway in New York.
- 9:03Really?
- 9:04You did that on Broadway?
- 9:05Yep.
- 9:06So you have kind of like a one man show, one man show, yeah, real.
- 9:10That's kind of like bowiesin.
- 9:11Yeah.
- 9:12Something like that.
- 9:13Wow.
- 9:14That's awesome.
- 9:15Congrats, man.
- 9:16You know what?
- 9:17That deserves right here.
- 9:18Round of applause.
- 9:19That takes a lot of courage.
- 9:20In just self moments, right, is is subsidiary of Amazon decides to back me to do a one man
- 9:26show with a live audience that is recorded in one take that's going to end up being
- 9:30a product for eternity on audible and it's probably my proudest piece of work today.
- 9:36So it may sound like a silly question, but there was a live audience when you did that,
- 9:41right?
- 9:42Yeah.
- 9:43How do you get a group of people to attend a on Broadway, right?
- 9:46The topic of how to persuade and get paid.
- 9:48How do you get people there?
- 9:50And same way that you get people to attend an online course or to come to a seminar with
- 9:55a ticketed fee and and we're the slight added easier of this is happening once and one
- 10:00time only.
- 10:01Would you like to be in the audience?
- 10:03There are partners and sponsors from audible's point of view that meant they wanted to send
- 10:07people.
- 10:08Okay.
- 10:09I got an email list.
- 10:10Friends have got email lists.
- 10:11Yeah, it was it was fun.
- 10:14It was an audience of friends and strangers from all walks of life and all walks of profession
- 10:21which was what my goal was, right, is I wanted to have a subsection of everybody I was
- 10:26producing the program for in the audience.
- 10:29So when I called on examples or you know, led for pushback of objections and key frustration
- 10:37points that people thought were unique to their industry to help prove that they're
- 10:41not unique to just the mortgage industry or the real estate industry or the healthcare
- 10:45industry or the you know, the plumbing industry when they're like, oh, you experienced
- 10:49that too.
- 10:51It was quite nice to be able to see those moments.
- 10:54That's amazing.
- 10:55Well, I'll make sure we put a link to all your resources in the show notes.
- 10:57If I recall though, is that that is one of the most downloaded audio books on that?
- 11:03What to say is in fact, listen to non-fortunately a book on real and which I'm kind of proud
- 11:11of is it's a book that is is listened.
- 11:15They have like a 5.2 or something with the last stats.
- 11:18I've got back 5.2 times listened through, which so it might not be the most sold or the
- 11:23most downloaded, but the most listened to program, which is like that's a cool step, given
- 11:27that's what you're producing it for, right?
- 11:29Yeah, and I think there's a good reason for that is because what you talk about really
- 11:34needs to be I think to really take it on and own it and implement it in your daily
- 11:39life.
- 11:40You need to know it really well.
- 11:41It needs to be like on recall without having to like think about it, you know?
- 11:44And it's a book on spoken word, which I think is in its best medium form delivered in
- 11:49spoken word, right?
- 11:50Is that you can get the cadence and you can get the context with a lot more authority
- 11:55when you're listening to it as opposed to reading it.
- 11:57Yeah.
- 11:58Okay, so by the way, for you listeners here, if you're a mortgage originator, this is
- 12:02a perfect podcast to share with your real estate agents, because as we said just a moment
- 12:06ago, the book, he has one of his books, of course, exactly what to say for real estate
- 12:09agents, what to say to close the deal, to win more listings, etc.
- 12:13You got to share this with your agents.
- 12:14All right.
- 12:15Let me get into it.
- 12:16So I love when I open up the book and like one of the first pages, this really hit home
- 12:20for me.
- 12:21This is one of the things you say on the first page, which is the worst time to think
- 12:24about the thing you're going to say is the moment you are saying it.
- 12:28Yep.
- 12:29When I read that, I was just like brilliant, brilliant, you know what I mean?
- 12:33So obvious.
- 12:34And let me set this out properly.
- 12:35I'm a guy who believes in scripting.
- 12:38And as you probably well know, scripting has mixed emotions associated with it.
- 12:42Through the years, I'm sure you've had people respond negatively to scripting or I don't
- 12:46script.
- 12:47Right.
- 12:48But why, let me ask you that first, why do you think the idea of scripting that word comes
- 12:53with so much like baggage and people kind of want to put up barriers to that?
- 12:59Why do I think people want to put up barriers to is first reason is almost nobody wants
- 13:08to do the work to do it right.
- 13:11So they think the scripting is cheating or shortcutting or not being authentic.
- 13:21Yeah, I hear that all the time and sounding canned and it's not every circumstance is
- 13:27at the same and all of this sequence of reasons, but the little boils down to the fact they're
- 13:30too lazy.
- 13:32And if you think about every great movie that you've ever experienced, which was a moment
- 13:39of the matter, there was a lot of work that was put into crafting that script.
- 13:44If a movie is going to reach its investment level or people want to say, well, how's
- 13:50the script?
- 13:52How's the script?
- 13:53Is it like an important conversation for any piece of media that's being introduced?
- 13:58What's interesting about both financial services and real estate, which I've done a ton
- 14:01of work in, is I'll often start a workshop or a seminar that is based on, so what are
- 14:06the frustrations about friction points, the customers or prospects throw back at you
- 14:10and boom, boom, boom, boom, boom, boom, boom, they can all hit me with a script of everything
- 14:14that everybody will say to them as a reason to not do business.
- 14:16Like, so you know their scripts, right?
- 14:21Wouldn't it make sense that you prepared sequences of words that could help steer you from
- 14:25avoiding those pitfalls or navigating the conversation onwards from those pitfalls
- 14:30in a more proactive basis, because I get it, you want to make it up as you go along,
- 14:34how well is that working for you?
- 14:37And what any professional would do is that we get ready, ready, ready, right, is if you
- 14:41are a tennis player, you want to know that if I'm being thrown an awkward backhand shot
- 14:48that I'm going to have to deliver on tournament day, you want to know I've done this before.
- 14:53And I've done this in drills in a training room environment.
- 14:56And that's what any pro has ever done is they've taken scenarios that they believe that
- 14:59they can resist in the real world and they've hypothetically prepared for them ahead of time.
- 15:04So that when that moment happens in the real world, they can deliver to it.
- 15:07There's another beautiful thing though about scripting in particular, is when you know
- 15:12your word choices well enough, you don't have to think about them in the moment.
- 15:17You can show up to the moment, be present in the moment, let's come back to the analogy
- 15:21of movies.
- 15:22Some of the best movies in the world have had memorable moments that appeared off script
- 15:27and the only reason they appeared off script is because there was a script and somebody
- 15:30could serve the moment better that allowed them to act off of script otherwise it would
- 15:34have just been made up in mumbo jumbo, right?
- 15:36So we need scripts to give a structure, but actually that structure gives you the freedom
- 15:40that you were looking for to not have the scripts, which is kind of ironic, right?
- 15:45Yeah.
- 15:46So structure brings freedom.
- 15:49Structure brings freedom, huh, that's I love that, that's very true.
- 15:53Because then you kind of know like the operating, you know, the parameters of which you're
- 15:57trying to operate within and you can punch in and out of those and get back on track
- 16:01easily, right?
- 16:02Correct.
- 16:03You remain in control, you can deliberately break a rule to then come back to the rule.
- 16:07Yeah, that's funny.
- 16:08I remember somebody's once saying that you're already scripting, you probably just suck,
- 16:12right?
- 16:13Right.
- 16:14You already have a script.
- 16:16The way they answer a telephone, they're scripted in the way that they respond to an
- 16:19email.
- 16:20Everybody who tells me they don't script, I'm like, so you don't have a single templated
- 16:23email that exists within your desktop, that you copy paste and then adjust as you need
- 16:28to to send us a standard response.
- 16:30Mm-hmm.
- 16:31Yeah.
- 16:32All right.
- 16:33Good.
- 16:34I love the direction we're going here.
- 16:35So I heard you say on a podcast that I was listening to you with you on it that you love
- 16:40two things, words and people or you're fascinated by them, let's say.
- 16:45And words is obvious.
- 16:46So let me just take words.
- 16:48What about words do you find that's fascinating or magical?
- 16:53Is I love how much a sentence can change by the tweaking of a simple word?
- 17:02I like how much people can impact or influence any specific scenarios by thinking about their
- 17:10word choices more effectively.
- 17:13And I also love knowing and then exploring the puzzle of how much people self sabotage
- 17:18their own life through not giving consideration to the words that they reach for.
- 17:24And just find it like funny, both in an amusing and a weird way, hence why I chose the word
- 17:31funny.
- 17:32Mm-hmm.
- 17:33Do you think people, now this is something that you hit on here for me, I'm wondering if
- 17:38people understand, I guess those in a relationship might recognize this, right?
- 17:43But the impact that your words can have, right, negatively or positively, how you say
- 17:47them, detonation and et cetera, right?
- 17:49All of it.
- 17:50All of it.
- 17:51And there is very little that brings attention to all of these things, particularly in the
- 17:56spoken word category.
- 17:58In written word, there are books after books, courses after courses after courses with
- 18:03copywriting and headline ideas and what can be done to improve cool to actions.
- 18:07And you know, we're all in agreement, there's nobody in an argument that says, hey, spending
- 18:11the time to craft perfect copy on the sales page of a website or a brochure is not a
- 18:15good idea.
- 18:16Mm-hmm.
- 18:17Yet the conversations we have with customers, prospects and people are often far more influential
- 18:22than any of that written word, yet nowhere near the same level of tenacity is given towards
- 18:27that part of a process.
- 18:29Right.
- 18:31So do you think if somebody was looking to, you know, obviously you're in sales, you're
- 18:35a sales trainer as part of what you do, what was your one book, exactly how to sell?
- 18:42The sales guide for non sales professionals.
- 18:46Do you think just changing your script, if you will, or the words that you use, use the
- 18:50phrase magic words?
- 18:51I'm wondering if there are actual magic words.
- 18:54Can that actually give somebody a raise?
- 18:56Yes.
- 18:57Mm-hmm.
- 18:58Why?
- 18:59What would that do?
- 19:00There's a few things.
- 19:03Is certain sequences of words will have more effective approaches towards conversion than
- 19:08others?
- 19:09Mm-hmm.
- 19:10Also, certain sequences of words allow you to dance your way through a conversation,
- 19:14so you're at the right point at the right time.
- 19:15By which, what I mean is a mistake that many people make is they start to be able to make
- 19:19an ask for something before they've gained permission to be in the conversation at the
- 19:23right to ask.
- 19:24Mm-hmm.
- 19:25So for example, is you can ask somebody to go and join you as your plus one at a wedding.
- 19:35But if you did that cold, it would be weird.
- 19:38If you did it at the end of a coffee meeting or drinks at the bar after agreeing to meet
- 19:42somebody for a day, it would kind of be the right conversation at the right time.
- 19:46So gaining to that point of permission of being able to make your next ask is important
- 19:50from a word choice of point of view.
- 19:52The other reason, though, that I think is even more profound is that if you, in some way,
- 19:57feel that you have prepared your word to head a time, you show up with two things more
- 20:02in every conversation.
- 20:03One is more confidence, and the other is more confidence.
- 20:06And the confidence itself is something that allows you to be able to actually achieve
- 20:10better results, because you're like, ah, I know what I'm doing here.
- 20:13I've got some tools in my toolkit.
- 20:15I feel more prepared for this, therefore I can show up more in myself for this conversation.
- 20:20Right.
- 20:21A giant principle that is taught through the bulk of my work, though, is it's the person
- 20:24that is asking the questions that's in control of the conversation.
- 20:27And you see, even just understanding that principle and then having a series of prefaces
- 20:32to questions that would allow you to get back on track to search for clarity and what
- 20:35other person is meaning, it stops you from sabotaging.
- 20:40That's where the increased success comes from.
- 20:43See, people simply need to be better at selling is like, no, you just need to be better
- 20:46and not sucking.
- 20:48Suck less.
- 20:49Right.
- 20:50And then what will happen is you win more by default.
- 20:53Yeah.
- 20:54Yeah.
- 20:55Try and part of my principle is not embellish the option of, yes, it's destroy the
- 20:57option of no.
- 20:58If you destroy the option of no is opposed to embellish the option of, yes, you leave
- 21:01yes is the only option, meaning the other person feels compelled to pick it.
- 21:05All right.
- 21:06So my ears perk up on destroy the option of no.
- 21:10Can we get a bit tactical on how one does that and I'm going to take it out of context
- 21:15tell you a little story is one of the roles that I was invited into as a consulting role
- 21:21along in the past was helping a furniture retail business improve its conversion rate
- 21:27with objections.
- 21:29And the furniture retail business had two core profit drivers that were more profitable
- 21:34than the original transaction itself sound familiar to the mortgage industry.
- 21:37Sometimes there's greater profit outside of the core product of the mortgage and there
- 21:41is in the mortgage itself, but finding value to get objections towards as other things
- 21:45is often hard.
- 21:46So here we are in the furniture industry.
- 21:48Two big objections that we had to avoid one was people, two products we were looking
- 21:52to add to the furniture transaction and the objections that were coming from it.
- 21:55One was fabric protection.
- 21:58So adding fabric protection to a couch, more profit in the fabric protection than there
- 22:02was in the couch itself.
- 22:03And the second was footstores like an ottoman upholstered box, again huge margin in that
- 22:08product.
- 22:09Boss is wanting me to help the team overcome objections.
- 22:12I said, wouldn't it make more sense if we didn't get the objection in the first place?
- 22:16I said, well, what do you, I said, what do you really mean?
- 22:20I said, well, instead of trying to put out the fire, wouldn't it make more sense that
- 22:24I find the guy with the matches and stealing from his coat pocket before he leaves the
- 22:27house in the room?
- 22:28It's still got no idea.
- 22:29It's going to be this is what is the most common objection, reason or excuse that people
- 22:35give you as to why they don't want fabric protection on their furniture.
- 22:39And they said strangely enough, the most common reason that we got was some version of
- 22:44I don't need it.
- 22:45I'm dead careful.
- 22:46We don't eat and drink on our furniture, which is where I realized earlier on my career
- 22:50that not all customers tell the truth, right?
- 22:52People say that salespeople are liars.
- 22:54My experience is not what customers tell the truth too, because I've never met anyone
- 22:58who hasn't sat on the couch and had a bite of food or a sip of it.
- 23:01Like somebody's done that, but people say they don't eat and drink on their furniture.
- 23:06The trouble is though, is if they say they don't eat and drink on their furniture, I can't
- 23:09say of course you do everybody does, I have to accept it to be true.
- 23:12So if a customer or prospect says something, it must be true.
- 23:16If you say it, it might not, let's take the other objection that was faced, as I said,
- 23:21but what about the food stall, most common reason why somebody doesn't want a food stall?
- 23:26And they told me the most common reason was that somebody would say they've not got the
- 23:29space, not got the room.
- 23:31Having never seen their home, I can't say of course you put the room.
- 23:35So I took those two things and I write what's called a question tree.
- 23:38I write a lot of question trees for organizations and question trees destroy the option of no.
- 23:43And what I decided to do is instead of selling the benefits of fabric protection of food
- 23:47stalls, I went to work on destroying the reason why somebody wouldn't want one.
- 23:53Let's have a look at this in real time.
- 23:55Somebody's decided they want to buy this three-seater and this two-seater couch.
- 23:59I say, apart from yourself, who will be using the furniture?
- 24:03They say, well, as me and the wife, the kids, the dog, I'd follow it with a leading question
- 24:06whilst nodding, I'd say what and a spot of entertaining to which everybody says, yes,
- 24:11like nobody admits to having no friends.
- 24:13So they've told me they're using this with a lot of people and they're often entertaining.
- 24:17And ask a further question, which is why I call this a question tree.
- 24:20Is it going in the best room or the everyday room?
- 24:23Do I mind which one they pick, best room or everyday room, right?
- 24:27Best room needs to continue to look at best.
- 24:28Every day room is going to take a hammering or win both ways.
- 24:31I say your last piece of furniture, how long did you keep that for?
- 24:35Doesn't matter what they answer.
- 24:36Three years, five years, nine years, 11 years.
- 24:38I say, I guess you're looking for this to last the same time or longer.
- 24:42To which again, everybody says, yes.
- 24:45So they told me they wanted to last a long time.
- 24:47It's going in the best room or the everyday room is often used for entertaining with multiple users.
- 24:52Am I in good shape to recommend fabric protection?
- 24:54Well, of course I am.
- 24:55The trouble is I'm not a fan of good shape.
- 24:57There's a thing I prefer as a thing called certainty.
- 25:01So I wrote another question.
- 25:02See, I learned if I preface a direct question with a simple sequence of magic words,
- 25:07I can get just about anybody to agree to just about anything, providing unreasonable.
- 25:12And the set of magic words I would preface with are the words I bet you're a bit like me.
- 25:17So I learned that if I say I bet you're a bit like me, get home from work,
- 25:20enjoy nothing more than pouring yourself a glass of wine and sitting down on the couch.
- 25:24People will be like me, yeah, that's me.
- 25:26Even if they're a white wine drinker, they'd still agree to the red wine assumption.
- 25:29I'd say I bet your household's just like mine never finds time for a proper dinner
- 25:33around the table every night, the week.
- 25:34More often than night, it's a trail in your lap on front of the box.
- 25:37They're like, you yep.
- 25:39So now they've told me they eat and drink on their furniture.
- 25:42Right.
- 25:43So I've disarmed that potential excuse.
- 25:45There's more to this though, right?
- 25:46I've still got this footstought to deal with.
- 25:48What am I concerned they might say?
- 25:50I'm concerned they might say they haven't got the space.
- 25:53So I come right for it.
- 25:54I say this best room of yours, how big is the room?
- 25:57And it doesn't matter what they tell me.
- 25:59Three by seven, 15 by 11, 52 by nine, I'd say, wow.
- 26:03That's a fair size room.
- 26:06How big is a fair size room?
- 26:08Well, it's like a fair size.
- 26:10So I mean, good shape based on the fact that we've labeled this a fair size room,
- 26:14but I'm not done.
- 26:16Let's say you're buying a three-seater and a two-seater,
- 26:18how would you lay it out in the room?
- 26:20And they try and explain it to me.
- 26:21I'd put a sheet of paper down and say, can you draw it?
- 26:25As they're drawing out, I realized that everybody other than architects
- 26:28draws the room giant and the furniture tiny.
- 26:31They make it space for me in the diagram.
- 26:33As they're doing the diagram, I'm saying, when you're entertaining,
- 26:36what do you do for extra seats?
- 26:37Hmm.
- 26:38They say, well, like we're dragging chairs around from other rooms,
- 26:41some people are sat on the floor and some people are sat on each other's lap.
- 26:43And I'm like, wow, that kind of party.
- 26:45But anyhow, well, I then say, is it what about storage?
- 26:49They say we've never got enough room for storage.
- 26:53And now, again, I mean, great shape to recommend a foot store or an ottoman,
- 26:57but I don't like great shape.
- 26:58What do I prefer?
- 26:59I prefer certainty is what I'm looking for.
- 27:03So I wrote one more question.
- 27:04Bear in mind, this is a British retailer where almost everybody celebrates
- 27:08the same holiday on the 25th of December.
- 27:11So the question I wrote is one of the greatest questions of my career.
- 27:13The question I wrote is Christmas time, where does the tree go?
- 27:18Why?
- 27:19Because if you've got room for a Christmas tree, you've got room for a foot store.
- 27:22I just found it's home for 11 months of the year.
- 27:24Wow.
- 27:26It allowed me to do something really simple.
- 27:28And I know the story's a long way in getting there,
- 27:30but that's the way you need to work around if you want to increase
- 27:33the efficiencies and new conversions, right?
- 27:35Is that was remarkably predictable for every set of circumstances?
- 27:38I could take that series of questions.
- 27:40What it allowed me to be able to do, though, is to understand what selling
- 27:43really is.
- 27:44The selling is earning the right to make a recommendation,
- 27:47which means you should never, ever, ever, ever, ever, ever invite somebody
- 27:52to be able to do something unless you can say these words first.
- 27:55And the words you should look to say first are the words because of the fact
- 27:58that you said, because of the fact that you said X, Y, and Z for those reasons,
- 28:04what I'd recommend is A, B, and C. It allowed me in this scenario to say
- 28:07because of the fact that you said this is going in your best room and you're
- 28:10often entertaining and you want it to last a long time.
- 28:12What I'd recommend you do is you get your fabric professionally sealed
- 28:14at the factory.
- 28:16Hey, remember the fact that you said when you're entertaining that sometimes
- 28:19you struggle for extra seats.
- 28:20What most people do is they grab themselves with footstore.
- 28:22It can be used as an extra chair.
- 28:23It's pretty useful for storage too.
- 28:26And if you're ever wondering where it sits, it sits underneath your feet.
- 28:31So it allowed me to recommend as opposed to feature dump.
- 28:36And so it just makes that much more sense, right?
- 28:40The old people buy an emotions and back it up with logic.
- 28:42Logically, that makes a lot of sense based on the journey you just took them
- 28:45through.
- 28:46And there's a motion less than the journey.
- 28:48Why?
- 28:48Because what people are doing is seeing themselves in those scenarios.
- 28:51Right.
- 28:52And they're picturing themselves in those situations out.
- 28:54And the same thing would be true in the mortgage world, right?
- 28:56Nobody wants a mortgage.
- 28:57People want to own their home.
- 28:59They don't just want to own their home.
- 29:00They want to own their home in a way that is congruent to the lifestyle
- 29:03they're looking for.
- 29:04So is this something they want to get unencumbered in the shortest period of time?
- 29:07Are they looking for the shortest, you know, the lowest-monthly payment
- 29:10in the immediate term?
- 29:10Do they perceive they're going to be making more money in the future or less money
- 29:13in the future?
- 29:14Like all these things come to light, right?
- 29:17But these are the things that should allow us to be able to make recommendations.
- 29:21No, I love what you said, right?
- 29:22You don't have the right to sell unless what is your permission?
- 29:25A half-time?
- 29:26It's earning the right to be able to make a recommendation.
- 29:28It's earning the right.
- 29:29Yeah, to make a recommendation.
- 29:30Yeah.
- 29:31With life insurance, you have to be able to say things like
- 29:34because of the fact that you said, right, right.
- 29:37But if anything tragic happens to your husband,
- 29:39that you'd be left in a fairly awkward position,
- 29:42and what I'd recommend that we do is that we explore some of the options
- 29:45with regards to life insurance.
- 29:47Right.
- 29:47Now, there's a lot of parallels for mortgage and real estate for those listening.
- 29:50I'm sure you're getting some ideas.
- 29:51Obviously with real estate, right?
- 29:52We're trying to future pays people into seeing themselves in the home
- 29:55and how they're going to use the different parts of it with the mortgage.
- 29:58Obviously, we're trying to, I know myself and many others,
- 30:02move to a more consultive type role in the conversations we have with clients.
- 30:07So that, again, it gets back to questions, 100%.
- 30:10I love that.
- 30:11And better questions, too, as well,
- 30:13which is what we can think about.
- 30:14Well, it's both real estate and mortgage a lot.
- 30:16Is I see lazy questions.
- 30:19Looking for a fixed rate or a variable rate mortgage?
- 30:22Like, like, yeah, right.
- 30:24That's, that's, that's not going to be.
- 30:28No, so it's, it's funny, though, talking about this.
- 30:30It's, it sounds wonderful.
- 30:31And I, I didn't want to leave the original point of why do people have resistance
- 30:35about scripting dialogues.
- 30:38Look at, I'm even resisting using the word scripting to your point.
- 30:42You said, because people are lazy.
- 30:45And I think, look, that's the hard truth.
- 30:47But what I love about, like, the book you wrote, what to say for real estate
- 30:50agents, is you map out so many done for you questions that are simple,
- 30:54swipe and deploy.
- 30:56And their prefaces to questions more often.
- 30:58Right.
- 30:59Do you take people through the journey?
- 31:01Yes.
- 31:01You know, what they are is that they are,
- 31:06they're just invigorators to allow you to have a more meaningful conversation.
- 31:09Well, there are all teasers to give you permission to have the conversation
- 31:13that you really want to have.
- 31:15And most people make the mistake of asking the question they want the answer to
- 31:22as opposed to asking a question that gets them the answer.
- 31:26Say that again.
- 31:28Okay.
- 31:28Is most people make the mistake of asking the question they want the answer to
- 31:32or as opposed to asking a question that gets them the answer?
- 31:36All right.
- 31:36What does that mean?
- 31:37Let's just take a simple real estate scenario, right?
- 31:40Sure.
- 31:40What that means is if somebody is realizing that they should probably be looking
- 31:50in an alternative area than the one that they're in right now,
- 31:53because they haven't got the money to afford what they want or afford
- 31:55within the neighborhood that they're currently looking in and they keep finding
- 31:58things that are a fault, they would typically ask a question.
- 32:01Well, have you considered looking in ABC area?
- 32:05To which is almost certainly going to be faced with a ton of resistance
- 32:08as to why they don't want to go to the other neighborhood because they've got their
- 32:11hair set in this other area.
- 32:12And now all of a sudden they find themselves still stuck in the position for the next
- 32:15nine months of trying to help them find an impossible one, right?
- 32:19How often does this happen like all the fricking time?
- 32:21Yeah.
- 32:22Instead, if you got them to be able to say that they were open-minded to other areas,
- 32:29you might be in a better shape.
- 32:30So you do the dance the long way around.
- 32:33Is aren't to me this is what's more important to you?
- 32:36The geographic location or having five bedrooms and a minimum of 3500 square feet.
- 32:42But that may answer.
- 32:44Right.
- 32:45Well, in reality, the space is non-negotiable.
- 32:48Okay.
- 32:49How would you feel if we spent the next nine months looking in this given area
- 32:54to realize that there was nothing that meant those time, those size constraints within
- 32:59the price budget that you were looking for?
- 33:02I feel pretty darn disappointed.
- 33:04Well, help me understand this.
- 33:05What would you rather we do?
- 33:06Extend the search to neighboring towns and cities or increase the budget.
- 33:13What would you rather we do?
- 33:16Yeah.
- 33:17Well, we can't push more than that number.
- 33:19So it happened.
- 33:20Right.
- 33:21What do you know about or what do you understand about why many people are moving to
- 33:26in certain neighborhood locations?
- 33:27Well, I don't understand the great deal about why anybody moved there.
- 33:30Well, what do you know about how his reputation has changed from what many people
- 33:33thought about it 10 years ago to where it's going in the future?
- 33:36I don't know a great deal about that.
- 33:37Well, how would you feel if I told you that many people were looking to be able to move there
- 33:41because they're in circumstances exactly like yours.
- 33:45And the high likelihood is 4567 years on from now, that will be a neighbor that not only
- 33:49has grown in value, but is also full of more of the kind of people you'd like to live near.
- 33:56I wonder what one of your my favorite phrases from you is, would you be open to?
- 34:00I've been stealing that a lot and sharing it with some of my clients and just
- 34:03in.
- 34:04You have some nuances as well.
- 34:05I'm going to catch you on a tiny little mistake.
- 34:07I'm going to talk about how a word makes a big difference.
- 34:09People see the open-minded question appearing in the book.
- 34:12Yeah.
- 34:13And they use it as a closed question.
- 34:17Would you be open-minded to?
- 34:19Still sounds mildly threatening, mildly argumentative.
- 34:23Would you be open-minded to?
- 34:24Right?
- 34:24Leaving of the witness.
- 34:26If you change the question just to rephrase it very slightly to how open-minded would you be?
- 34:32Now what we've got is even more increased success metrics.
- 34:34I'm not saying would you be open-minded to won't work?
- 34:36It works great.
- 34:37How open-minded would you be?
- 34:39It works better.
- 34:40Yeah, because what it does is it leaves enough in the gray area for the other person to want to
- 34:44lean in to the ramp that you've presented with.
- 34:48And this is where so much of my work exists.
- 34:50It's like, I want to do stuff that says, with words,
- 34:55like, I'm just going to open a crack in that door over there.
- 34:58But whatever you do, don't look around it, etc.
- 35:00Don't look through that door.
- 35:01Please, please, don't look what's behind that door over there.
- 35:04I mean, you promise me you're not going to look behind that door.
- 35:06But I'm going to go missing right now for at least 35 minutes.
- 35:08And I won't be back in any way, shape or form.
- 35:10And behind that door is something you might be interested in.
- 35:12But you promise you won't look behind that door, will you?
- 35:15Right.
- 35:16Like that's what I'm trying to do with so much things with language that lead somebody to do their own little
- 35:23or like yellow brick road.
- 35:25Yeah.
- 35:26What it does is it makes the buying process fun.
- 35:28Right.
- 35:29If you think about most purchases that you've enjoyed,
- 35:33it's because there was a dance involved.
- 35:35Yeah.
- 35:36And it's probably because you invested a significant sum of money.
- 35:40We want to enjoy the dance.
- 35:42Not the tussle.
- 35:43People think people want to enjoy the negotiation.
- 35:46Nobody really enjoys that.
- 35:47They want to enjoy a dance and a trade off.
- 35:50Right.
- 35:50It doesn't want to feel like a fight.
- 35:53That's very funny.
- 35:54Yeah.
- 35:54I go out like
- 35:56when we're early days in our marriage when we're
- 35:58filling our house with furniture and all that stuff.
- 36:00You got to buy.
- 36:00I used to enjoy going out there and see how much the salesperson would engage in a conversation.
- 36:05But most of them down.
- 36:06It's straight up the whole price-based question and that kind of stuff.
- 36:10They don't lead you on it.
- 36:11Then when you find somebody who does to your point,
- 36:14it's like, wow, that was an incredible thing.
- 36:16You what you feel is like you feel like they really cared because of the questions they asked.
- 36:20Yeah. They care about the result of the result of the result.
- 36:22They're prepared to get a few stages further down the tracks.
- 36:26You say something.
- 36:27I have no context on this, but I wrote it down.
- 36:29Show me.
- 36:30You know me.
- 36:31Yeah.
- 36:31What does that mean?
- 36:33So there's a chunk that I've been doing right now to help people understand
- 36:36how to have conversations in this time.
- 36:38And it's a three-part process to say that every conversation needs to include
- 36:42these three critical ingredients in this precise order.
- 36:46And the first ingredient is one of curiosity.
- 36:48Right? Is showing up to every conversation with curiosity first,
- 36:52knowing that you cannot insert your content into somebody's conversation
- 36:56until you understand their context.
- 36:58And if you show up with curiosity, you reach a position of certainty.
- 37:01If you show up with certainty, you create curiosity.
- 37:04So if certainty is what you're looking for, curiosity is the fuel to get you there.
- 37:08Behind curiosity, you're led to a second ingredient of empathy.
- 37:12Possibly missing in almost every conversation is the failure to be able to see the world
- 37:16through the other person's eyes.
- 37:18Best definition I've ever heard of empathy comes from an author friend of mine
- 37:21called John Acuff, who describes empathy as caring about what the people you
- 37:26care about care about.
- 37:28There's nothing cleaner than that in my mind of what empathy is.
- 37:31And we miss that a lot, particularly in high-level transactions,
- 37:35like helping somebody secure the right financing product for their home,
- 37:39is I think we should care about what the person we care about care about.
- 37:43And rarely is that a product a provider or a rate.
- 37:46It's often something very, very different than that.
- 37:49And in every conversation we're looking for, if we're demonstrating empathy,
- 37:52we're hitting what I would call the show me that you know me button.
- 37:56And when you hit the show me that you know me button in somebody's mindset,
- 37:59then you get trust.
- 38:01So you start with curiosity, you move to empathy.
- 38:04Your result is you hit the show me that you know me button,
- 38:06which is what's earned you the right to then have the third ingredient that's required
- 38:10for every key conversation right now, which is courage.
- 38:13And by courage, I don't mean jump out of an airplane courage,
- 38:16or climb a mountain courage, go to war courage.
- 38:18I mean, just the courage to ask for the thing you were looking for,
- 38:21whether that was the business, the information you needed,
- 38:25the advice you were looking for.
- 38:26It's be bold enough to be able to ask.
- 38:28But if you ask without curiosity and empathy first,
- 38:31you're pushing and rude.
- 38:34But if you do the dance in that order,
- 38:37then what you do is you understand the context.
- 38:39You see the world through their eyes,
- 38:40and then you can position your ask through the right lens.
- 38:44Now you don't shoot and miss.
- 38:45Now it's just the natural next step.
- 38:47Right.
- 38:49I love that.
- 38:50I love that. I wrote that down.
- 38:51Curiosity, empathy, and courage.
- 38:53So if I'm going to start to implement this kind of stuff in my sales process,
- 38:59right, conversations, sounds like I need to a lot more time, right,
- 39:03for the conversation.
- 39:04Um, maybe, but more often than not, yes, not always,
- 39:09but more often than not, yes.
- 39:12Which by the way, I don't have a problem with.
- 39:13Sometimes time is no.
- 39:16And you need a lot more time up front.
- 39:18Yeah, right.
- 39:19The first first thing and
- 39:22what often happens if we break it down is say,
- 39:24say, for example, you've got a three-hour sales cycle,
- 39:26it was spread out however long it is.
- 39:28What often happens is people cram a load into the front end,
- 39:31then they get a solid maybe,
- 39:33and then they spend the other half of the time
- 39:35trying to convert them maybe into a, yes,
- 39:36by taking it uphill with everything I teach.
- 39:39It's like, let's spend two hours and 52 minutes of the three hours we have
- 39:43over this period of time building our case.
- 39:46So the final eight minutes is well, of course.
- 39:50Yes.
- 39:51Right, that's what we're looking to be able to do instead.
- 39:53So quite often, it actually shortens the sales cycle
- 39:57and reduces the total amount of time that you need to spend in that relationship.
- 40:02But it does increase the upfront work.
- 40:05Is our number one objective in the initial conversation to create trust?
- 40:10Yes.
- 40:11Is that the ultimate goal, really?
- 40:13Trust me as the person to choose.
- 40:15Yeah, I mean, once trust is existence, then like in your world is,
- 40:21you want somebody to be able to text you and say,
- 40:22hey, should I refinance this and see if we can get it better right?
- 40:26And you to be able to reply, yes.
- 40:29Like, like, that's where you want to be at or no, let's look again in the spring.
- 40:33Right, right.
- 40:34Okay.
- 40:34If all that works being done up front, that's where it can be.
- 40:37Yep.
- 40:38Similarly, like, you know,
- 40:42you want them to be able to shoot your notes and say, hey, I'm thinking to buy
- 40:44two investment properties.
- 40:45Can you run some numbers for me?
- 40:46Like, you don't want it to be pick me over the other yellow guy.
- 40:51Well, and that reminds me of a comparison we often
- 40:55utilize in the mortgage space specifically.
- 40:57It plays in the real estate as well.
- 40:58But that's the difference between a mortgage professional and a call center person,
- 41:03right?
- 41:04You're not going to call a call center person necessarily unless they've done an amazing job
- 41:08and ask, hey, I'm thinking about buying two investment.
- 41:10You're just not going to have that conversation versus if you are a mortgage professional
- 41:14and you've done a lot of things we're talking about here.
- 41:16Maybe use third party tools, you know, that I'm a big fan of like mortgage coach and you
- 41:19present options to people, right?
- 41:22That's when you become a trusted advisor.
- 41:24Well, even more than that though, as well, it's the ability to go backward in their life
- 41:29and then go forward in their hypothesis for the future that earns you that right, even more so.
- 41:36Because I still think the majority of professionals are very happy with the first win.
- 41:40Like, if I can get the first win today, then I mean, good, good shape.
- 41:44And then, you know, I keep showing up.
- 41:46Here's my hatred thing.
- 41:47Is the number of mortgage professionals that I hear call themselves trusted advisors.
- 41:52You have no right to call yourself a trusted advisor.
- 41:56Do tell somebody else calls you, right?
- 41:59It just catches the nuance of the language again.
- 42:02Is somebody else needs to say, this is my trusted advisor.
- 42:04If you're calling yourself a trusted advisor, then move the chip off your shoulder, right?
- 42:08Is what should really come to light and this and you do that through building these relationships.
- 42:14Remember, again, that nobody wants to buy a house.
- 42:16They want a house for a purpose.
- 42:18They want the house to be paid for over a certain period of time or to enable certain things within their life.
- 42:23And your job is to navigate them through all of their property transactions for the rest of their life.
- 42:29So you have to understand what they want to do with their life.
- 42:32Yes, which gets into some people listening might recognize what we call kind of like our dreams and goals conversation.
- 42:38Whereby, it's not just a loan application, right?
- 42:41You've got to get into their dreams desires, but also like really get into their life.
- 42:45Where are they currently?
- 42:46Where might they be down the road, things like that?
- 42:48Yeah, and this is again about how do you go about it?
- 42:51So you want an example of where people do things wrong.
- 42:54You're saying it's the dreams and goals conversation.
- 42:56So they say, tell me about your dreams and your goals.
- 42:59A version of that, yes.
- 43:01And then that's what happens a lot.
- 43:02And I'm like, jeez, people.
- 43:04Where is you better to say, you know, what are some of the things that you have planned over the next three to five years?
- 43:12Right, all of a sudden, what we've got is a move.
- 43:14By the way, let me interrupt you.
- 43:16Sorry, does it have to be in the context of a house?
- 43:19What are your plans?
- 43:20No, just, no, it could be, it could be towards anything.
- 43:25Okay, okay.
- 43:26A question I teach to real estate agents as well is they say,
- 43:29like, how many bedrooms are you looking for?
- 43:32And they'll say, well, I'm looking for four bedrooms.
- 43:34Like, give me the follow up question.
- 43:35Who are the bedrooms for?
- 43:37Like, who are the bedrooms for?
- 43:39Right.
- 43:39Like, the answer to that question gives you a ton.
- 43:43Right.
- 43:43Right.
- 43:44Well, it's for, um, well, right now it's just for my daughter who's seven,
- 43:49but we're still open minded about the fact that we might try again.
- 43:53And we've got a number of friends from out of town.
- 43:55They'll like to come and stay and we've moved away from families.
- 43:57Okay, that context is so useful.
- 44:01Instead, we're like, all right, four bedrooms.
- 44:03Let's plug that into my CRM and this neighborhood.
- 44:06Let's plug that in and let the magic commence.
- 44:08Here are here's 72 homes to choose from.
- 44:10But we'll meet that criteria.
- 44:12It sounds like what you're saying is be more human.
- 44:17Strategically and purposefully.
- 44:20Okay, because you can be human.
- 44:24You can program yourself to say who the bedrooms for.
- 44:27Hmm, yeah, but it goes back to what you said originally, which is curiosity,
- 44:31which I think is one of the best traits of a successful salesperson.
- 44:34Hugely curious as hell, man.
- 44:36And instead of like, you know, what term are you looking for on your mortgage?
- 44:42Is how soon will you only hope into own your home?
- 44:46You mean, have a bit of opens up the conversation about, okay?
- 44:49Right, right.
- 44:50Have you thought about 20 year?
- 44:52Let's look at some other ways that you might be able to do it.
- 44:54Oh, I like to own it in the shortest period of time.
- 44:57So is there any possibility that you might have lump sums that you're looking to be able to
- 45:01pay off for strategic points over the next few years?
- 45:03Well, as it happens, yeah, we get like a two-year bonus that sometimes is pretty decent.
- 45:08So we, so you'd probably be looking for some form of financing that has no earlier pre-payment
- 45:13repayment like penalty.
- 45:15Yeah, yeah, absolutely.
- 45:15I'd be looking for that.
- 45:18Right, and you can start to actually shape a product that is better for their circumstances.
- 45:23Right.
- 45:25Because you might ask the question is how soon will you hope in own your home?
- 45:28And they're like, well, like in Venice, we're probably never going to own this,
- 45:31because we're only going to be here three, four, five years.
- 45:34And then we look to trade up again.
- 45:35So this is about us being able to customize the home for existing needs.
- 45:40And just have the lowest monthly payment over this period of time,
- 45:43whilst we're working on our careers.
- 45:44Okay.
- 45:45So what you're looking for is the lowest monthly payment right now,
- 45:49knowing that the goal is to be able to build some equity in this piece so that you can then
- 45:53either move back closer towards family once your career is taken up here.
- 45:57Yeah, that's the plan.
- 45:58Okay.
- 46:00Yeah, and how much better does that feel, right?
- 46:02For the end user, I'll use that term.
- 46:05Need to come up with a better one, right?
- 46:07That's the less human.
- 46:07But family, this needs your work.
- 46:10Family.
- 46:10Family.
- 46:11Yeah, you know, that's a good point.
- 46:12A lot of people in industry talk about families helped every year.
- 46:15Yeah.
- 46:16Instead of loans closed, it's a family's helped.
- 46:18Yep.
- 46:19We're served rather.
- 46:21All right, well, let's do this for the remaining minutes we've got.
- 46:23This has been great.
- 46:24I've got a couple of points down around objection handling.
- 46:26Let's face it.
- 46:26Everybody faces some type of ejection of your own sales.
- 46:30And this is what I love about your book.
- 46:31You've got very, if you're looking for tactical people,
- 46:33you got to go get the book.
- 46:34We'll put a link in the show notes.
- 46:36It's exactly what to say.
- 46:38The one for real estate agents, like I said,
- 46:39makes a great gift, makes a good book club,
- 46:41book study, whatever you want to do.
- 46:43All right.
- 46:46I love the transition kind of, I guess that's who you are.
- 46:50You're all about transitions, right?
- 46:52Here's what I love that you wrote.
- 46:53I think this is you.
- 46:54Success is created from doing the basics
- 46:56at a high standard consistently, right?
- 47:00To me, I love that.
- 47:00That's fundamental because talking to people,
- 47:04dialogue, what you say and how your skill level
- 47:07at engaging people, I think, is a fundamental skill.
- 47:10It's blocking and tackling, you know?
- 47:13Let's bring that back to objections here.
- 47:19You said this kind of blew me away.
- 47:21Your presentation should negate the need for questions.
- 47:26The hell are you talking about there?
- 47:31Okay.
- 47:32If you have questions
- 47:34through the consultation process, the comprehensive.
- 47:38When you then present a solution to somebody,
- 47:41the response should be, of course,
- 47:44there should be no need for somebody to come back and say,
- 47:46tell me some more about that or yeah,
- 47:48but what about or how about the other?
- 47:50Is it should just be well, of course?
- 47:52And are you married?
- 47:55Yes.
- 47:57When you asked the question of your wife to marry you,
- 48:02how confident did you feel that she was going to give you a positive response?
- 48:08The sentence serves.
- 48:10There's actually a story behind that,
- 48:11but you want a number?
- 48:13You want a percentage?
- 48:14I want a number.
- 48:15Yeah, where were you at?
- 48:17I was, see, I might not be the perfect example of this, however,
- 48:21to give you a number.
- 48:22I would say realistically,
- 48:25my guts telling me to tell you 50%,
- 48:29but I want to say 70%,
- 48:30but the truth is I wasn't 100% sure, what you said.
- 48:33Okay.
- 48:33So you were shooting early without a huge level of certainty,
- 48:36wishing hoping and praying for this to be a yes.
- 48:39I was like, this is my last shot at keeping this woman.
- 48:42I've got to ask her to marry me.
- 48:43Okay.
- 48:45What's interesting is the majority of people
- 48:48when asked that question, they're shooting with a far higher number.
- 48:51Oh, I know.
- 48:51I know.
- 48:52That's why I knew you were going.
- 48:53I was like, I didn't want to, yeah.
- 48:55And then there's no right answer.
- 48:56There's just a response to the answer that you get.
- 48:58Right, right.
- 49:00I hear people say like 93, 92, 74, 68,
- 49:06but it's normally the right side of 50.
- 49:08So they're feeling somewhere near certain.
- 49:10Right.
- 49:11The, we're both on the same page.
- 49:13Yeah, let's, let's face it.
- 49:15I had to feel certain amount of certainty to do it as well.
- 49:17Right.
- 49:17So I was definitely on the, on the higher side of certainty, for sure.
- 49:21Wasn't 90, but different context.
- 49:23So that's the level we're looking to get to,
- 49:26though, when we're making an uniform of sales presentation,
- 49:28is that what we've done is we've done enough pre-work
- 49:31to say that we're both on the same page.
- 49:33This is just the natural next step.
- 49:35Right.
- 49:35And if it's the natural next step,
- 49:37then you could lead towards that without the need
- 49:39to expect any friction back in the other direction.
- 49:41All that's going to happen next is planning
- 49:43for what happens next.
- 49:45All right, I mean, I'm going to interrupt you again,
- 49:46because this is what I do.
- 49:47I get real specific.
- 49:48How do I know I'm ready to go to the natural next step?
- 49:52Well, let's look at the furniture example that I gave earlier on.
- 49:55Okay.
- 49:55I've collected the evidence of the fact that they say,
- 49:58this is going in the best room.
- 49:59They wanted to last a long time,
- 50:01and they're often entertaining.
- 50:02What I'm doing is I'm like, I'm banking that,
- 50:04I'm banking that, I'm banking that.
- 50:07What else?
- 50:08I'm looking at the saying, I need to collect these,
- 50:11these pearls of evidence for me to be able to say,
- 50:14because of the fact that you said,
- 50:16if I can't say because of the fact that you said A, B, and C,
- 50:18for those reasons what I recommend is X, Y, and C,
- 50:20then I'm pitching and I'm hoping.
- 50:24Now, I would view every sales conversation like a courtroom,
- 50:28where you're looking to the judge and jury for a verdict,
- 50:32but you want to make sure that what you've done is you've exhausted
- 50:34the questioning of the witnesses ahead of time,
- 50:37so that you feel that you've got the best shot
- 50:39of getting the outcome that you are looking for from the jury.
- 50:43That's where I'm coming at this moment.
- 50:44Is that like the attorney never asked?
- 50:47Right. Is that like the attorney never ask a question?
- 50:48You don't know the answer to?
- 50:50Correct.
- 50:50Correct.
- 50:51Or never ask a question that you're uncomfortable with the answer to.
- 50:57Because you've got to be able to have,
- 50:58sometimes a plan B, C, D, and E, right,
- 51:00is that if you don't get the outcome you're looking for,
- 51:02and the beauty of speaking in terms of questions
- 51:04is if you shoot and miss, you couldn't shoot again.
- 51:07Yeah, by the way, it's funny when I said that.
- 51:09I think the one exception to the asking the question,
- 51:12answer you're not uncomfortable with, I guess that would play.
- 51:15I was thinking about the curiosity thing.
- 51:17Of course, you're going to ask questions when you're curious,
- 51:19you may not know the answer to.
- 51:21Right.
- 51:22Right, because what you're looking for is you're looking for that context.
- 51:25Yes.
- 51:25You are happy that you probably have experience
- 51:28in regardless of how they answer,
- 51:30that you have the ability to be able to steer it from here.
- 51:33So, what I'm going to say to the many people make is,
- 51:35is if you were a restauranter,
- 51:40and you were looking to serve the perfect dish for somebody,
- 51:42you'd probably want to ask a good series of questions first,
- 51:47to be able to make sure that you're not dealing with any gluten intolerance,
- 51:51if there's a food preference around,
- 51:53like whether they are vegan, vegetarian, pescatarian,
- 51:56whether they're on any other form of diet,
- 51:58you'd want to know about more, what their favourites are.
- 52:01And the more that you can gather on that,
- 52:03the more confident you would have in saying,
- 52:04here's a perfect dish for you.
- 52:06If what you've said is I've got this amazing dish,
- 52:08it's brilliant, here's all the reasons why it's awesome.
- 52:10Right.
- 52:11You could serve up a raw beef tartar
- 52:15to a vegan activist,
- 52:18and then be remarkably confused why they didn't love it.
- 52:21Right, right.
- 52:23And it's not because the dish wasn't right,
- 52:25it's because the dish wasn't right for the person,
- 52:27which is why it's back towards the person.
- 52:29And it's acceptance that your content without context is only ever noise.
- 52:35Nobody needs more noise in their life.
- 52:38So if you do the work to understand the context,
- 52:40and then you insert your content, now you're helpful.
- 52:43All right, I love that.
- 52:44What do you see?
- 52:45I'm also a big believer in that,
- 52:47and I'm keeping my eye on a clock,
- 52:49so we're going to go fast here and wrap this up.
- 52:50But I'm also a believer in an opening statement of differentiation
- 52:56is important.
- 52:57You feel the same way?
- 52:59Can you explain to me what an opening statement would be?
- 53:02Well, obviously in the mortgage space,
- 53:04people are calling most likely being trained to ask what's your rate,
- 53:08and they have some preconceived notions
- 53:10if they haven't dealt with as individual before.
- 53:12So I like to kind of interrupt that pattern,
- 53:14if you will, and open up with some context or whatever.
- 53:17But ultimately get to,
- 53:19like, here's what's different about us, right?
- 53:21I'm sure most other originate,
- 53:22you know what I'm saying?
- 53:22Go that direction.
- 53:24I like it.
- 53:25It can be evolved upon also with a question.
- 53:29Okay.
- 53:31Such a ask.
- 53:32So if they come in and say,
- 53:33what's your rate?
- 53:35Yep.
- 53:36You say, well, we have dozens of different products,
- 53:39the very between here and here,
- 53:41depending on the only individual circumstances.
- 53:44What do you understand about the different types of providers
- 53:47that exist within the mortgage space within your locality?
- 53:51I understand about.
- 53:52And you watch now they go,
- 53:54well, I understand like I can get my bank
- 53:57or I can go through like a third party elsewhere
- 53:59or like I mean,
- 54:00you'll probably get to a conclusion
- 54:01where they don't understand a great deal.
- 54:03Right.
- 54:03So you could then say,
- 54:04so as well as rate,
- 54:07would it help if you understood a little bit about
- 54:09the different types of people
- 54:10that you could work within this space?
- 54:12So you could find out what was going to be the best fit for you
- 54:15to which every human being on the planet says,
- 54:17well, yeah, of course it would.
- 54:18Right.
- 54:19I then might say, well, the way I see it
- 54:21is you really have three options.
- 54:23Option one is that you can
- 54:25know plug into your bank lending facilities
- 54:30and have a limited pot of resources
- 54:32yet with the transparency of them
- 54:34knowing your financial background
- 54:36and potentially be able to secure something slightly easier
- 54:39but typically a less than competitive rate.
- 54:43Option two is that you can try and get direct
- 54:47to a lender elsewhere
- 54:50by trying to compare and contrast
- 54:52all the different products that are out there
- 54:54in the wild, wild west of a lending portfolio
- 54:57and try and make the smartest move yourself
- 54:59without necessarily the knowledge and understanding
- 55:01of all the key things that you should be looking for.
- 55:04Thirdly, you can work with an independent broker
- 55:05like ourselves
- 55:06who has access to the whole of the market
- 55:09yet is truly focused on you and your success
- 55:12and knowing that what we can do is align
- 55:14the perfect type of product
- 55:16to your unique set of circumstances.
- 55:19So help me understand when you're looking
- 55:21for just the cheapest rate
- 55:23or when you're looking for
- 55:24somebody who understands your circumstances
- 55:26in this entirety.
- 55:28I like that.
- 55:29The same thing, right?
- 55:30It's a patent interrupt.
- 55:31Is what we're looking for?
- 55:32Right.
- 55:33But it's also interrupt
- 55:35with the
- 55:36specific curiosity.
- 55:37Right.
- 55:39Absolutely love that.
- 55:40Okay.
- 55:40So I'm going to, like I said,
- 55:44just recommend people get your book
- 55:45because there's a couple of questions
- 55:46you have here regarding objection handling.
- 55:51And let's just finish with this one
- 55:52when it comes to the phrase,
- 55:54I know people use this a lot.
- 55:55They often say at the end,
- 55:57do you have any questions?
- 56:00Yeah.
- 56:00It's the student.
- 56:01So let's come back to the point earlier on
- 56:03when you said, why do I love words so much?
- 56:04And it's sometimes because
- 56:05a subtle change of words can make a profound difference.
- 56:08If you finish a presentation
- 56:09with the words, do you have any questions?
- 56:11What you suggested to the other person
- 56:12is they should have questions.
- 56:14Right.
- 56:15Yeah, if you've done your job right,
- 56:16they shouldn't have any questions.
- 56:18So you've told them,
- 56:19they should have questions.
- 56:20Yeah, they shouldn't have questions.
- 56:22So in their voice inside their head,
- 56:23they're thinking, what did he or she not tell me?
- 56:26What did I miss?
- 56:26Let's be honest.
- 56:28Let's not understand.
- 56:29So you're likely to bump into objections
- 56:31like it just needs some time to think about it.
- 56:33Some form of stool that says
- 56:34that's pushed us away for another day.
- 56:36Because you've suggested they should have questions
- 56:38even though they don't have questions.
- 56:41Instead, if you swap the words to you have any questions
- 56:43to the words, what questions do you have for me?
- 56:47Now, although certain, they lean in with confidence
- 56:49and say no questions.
- 56:50Now, because they've got no questions,
- 56:51what does that mean?
- 56:52It means that they've got all the information
- 56:53that needs to make a decision,
- 56:54which therefore means that they've made a decision in their head,
- 56:56which gives you the ability to ask for that decision.
- 56:59And you don't ask for that decision.
- 57:00You assume they've made a decision,
- 57:01which is to follow the advice that you just laid down
- 57:04and assume that they followed the advice
- 57:05that you just laid down.
- 57:06You lead the dance to the next step.
- 57:08And here are the words to lead the dance to the next step.
- 57:10It's the words, the next steps are.
- 57:13So the next steps are from here,
- 57:15is we've got a simple application that needs to be completed.
- 57:17We're going to do that through DocuSign
- 57:18or we're going to set up for you now,
- 57:20or I could take some basic details from you over the phone,
- 57:22or whatever it might be.
- 57:23We're just going to lead the next steps through from there.
- 57:26And nine times out of 10,
- 57:28people will go with you,
- 57:29because you've earned the right to lead the dance
- 57:31through the work you've done before the work.
- 57:33Right.
- 57:34Love that.
- 57:34Love that.
- 57:35Love those, just our call of transition statements, right?
- 57:39And there's some psychology behind that as well.
- 57:41I think that's one of those areas.
- 57:42People don't think about to your point about why you love words,
- 57:45because the words you choose, the structure,
- 57:48and tonality and all that kind of stuff
- 57:49have influence, have impact.
- 57:52And we may not realize that we're actually defeating ourselves.
- 57:56And you, I, everybody in these conversations,
- 57:59has a responsibility to lead.
- 58:01And really that's what we are.
- 58:03We have this leadership position.
- 58:06The very reason that somebody reached
- 58:08down to any of the listeners on this show right now
- 58:10is because they believe that you're an expert,
- 58:14which means that you have to consult
- 58:16like an expert would do, dance the conversation
- 58:19forward like an expert would do,
- 58:21and provide solutions in light of the information
- 58:24that you've gathered.
- 58:25Right.
- 58:25That's what you'd expect from your primary care physician.
- 58:30Yeah, just that's a whole another podcast.
- 58:33How we can improve primary care.
- 58:37I know I say that's what you'd expect from your primary care.
- 58:39I expect that's not what we're getting though.
- 58:42That's for sure.
- 58:44All right, listen, you've been very gracious with your time
- 58:46and information.
- 58:46Once again, people please get the links in the show notes there
- 58:49to get one or many copy of bills, books, audios.
- 58:53I'm going to check out that broadway presentation
- 58:56you mentioned about how to persuade and get paid.
- 58:58Is there a video of that as well on YouTube perhaps?
- 59:01Audio.
- 59:02So the beauty of audible original is
- 59:05it exists in that format and that format only.
- 59:07Yeah, fantastic.
- 59:08All right, so we're going to finish this out with questions.
- 59:10What a shocker, right?
- 59:13All right, so I'm going to finish that with two questions.
- 59:15First one, I kind of tried to pick these out for you in advance.
- 59:22Who are your heroes or hero?
- 59:25Who is your hero?
- 59:26One of the other in real life.
- 59:29I don't have one.
- 59:31Is
- 59:34I've learned that if you pin your heroism on any one individual,
- 59:37you end up disappointed.
- 59:40Okay, trust, do you see this card right here?
- 59:43That's out.
- 59:48I've studied success my entire life and any time I meet anybody
- 59:52brilliant at anything, then instead of saying,
- 59:55wow, I ask how, right?
- 59:57And I look to see what I can learn from them.
- 59:59And everybody from me working alongside great athletes,
- 1:00:03like you say in bold and spending time with my late great-grandmother,
- 1:00:06right, is everybody in between those spectrums
- 1:00:09have given me the ability to learn from.
- 1:00:11So my true hero is like a Frankenstein's monster
- 1:00:15of brilliance that has been forced together by dozens of people.
- 1:00:20And that allows me to be able to have
- 1:00:24this perfect picture that I know doesn't exist in a hero.
- 1:00:27That is being a hybrid of multiple others.
- 1:00:30And then I don't get disappointed of getting the meet heroes close up
- 1:00:33and then thinking that you're just, you're not all that I thought you were.
- 1:00:38Right.
- 1:00:38No, it's actually a good answer, good honest answer.
- 1:00:40All right, so let's close out on this question then,
- 1:00:42which is the one you ask oftentimes on your podcast,
- 1:00:45which is, what is your favorite word and why?
- 1:00:50Oh, what is your favorite word?
- 1:00:53I'm going to give you one that has been my
- 1:00:58my most used favorite weird word recently.
- 1:01:02And I just think it's a brilliant word and it's the word penultimate.
- 1:01:06All right, you have to break that down for us.
- 1:01:10Penultimate means like last but one, right?
- 1:01:14Last but one.
- 1:01:15So is I think there's so much suspense that is attached towards
- 1:01:22the use of that word.
- 1:01:24You're like, this is important and I have more.
- 1:01:27If you're saying like, this is the penultimate thing that I want to share with you
- 1:01:30or for my penultimate question or the penultimate piece of information
- 1:01:34that we need to work through.
- 1:01:35Plus it's just a word that people don't hear that often.
- 1:01:37So it's like, what a cool word.
- 1:01:40And it naturally makes you a piece smarter if you use words like that.
- 1:01:45So I've been having fun with the insertion of that word subconsciously,
- 1:01:49like it hasn't been.
- 1:01:50You haven't used it in a sentence yet.
- 1:01:52With other people.
- 1:01:54Oh, I use it all the time.
- 1:01:55Use it all the time.
- 1:01:56Really?
- 1:01:56For example, how you would use penultimate last but one in a series of things.
- 1:02:03Okay.
- 1:02:03Well, the simple thing would be if I was bringing a podcast towards a close,
- 1:02:10I might say, said my penultimate question is, right?
- 1:02:13And then position out there and like everybody would know,
- 1:02:16like, it's about to finish, but not quite.
- 1:02:17Like, he's almost going to finish.
- 1:02:19Right, right.
- 1:02:20You know, I got, I got a handful of points I wanted to share about that.
- 1:02:23And I'll share a point and I'll share a point.
- 1:02:25And then so my penultimate point is this, which means I've got one more, right?
- 1:02:28So it's just, it's like a double drama point in it on from there.
- 1:02:33And it's playful.
- 1:02:35It's why I like it.
- 1:02:36It's naturally.
- 1:02:39If you listen to comedians sometimes break down the joke,
- 1:02:42they sometimes just explain to you that a word is funny.
- 1:02:46And you don't know why it just is a funny or word.
- 1:02:50And penultimate seems to fall into that camp for me is,
- 1:02:54it captures attention when used in conversation that is different.
- 1:02:58And I don't know if that is my true favorite word.
- 1:03:00It is just the word that came to mind when asked in this session.
- 1:03:04Right.
- 1:03:05That's awesome.
- 1:03:05I guess the simple answer I should have given,
- 1:03:09given that I gave penultimate as my penultimate answer is,
- 1:03:13is the word exactly.
- 1:03:14Really?
- 1:03:15Because I'd like to want to send every time anybody uses it,
- 1:03:18given its basic being my word.
- 1:03:23Are you saying exactly?
- 1:03:24Is basically your word?
- 1:03:26Yeah, I think so.
- 1:03:27I think so, is given that we have exactly how to sell,
- 1:03:31exactly where to start, exactly what to say.
- 1:03:34I often do use that in your life.
- 1:03:36In your life, you're like, exactly.
- 1:03:37Yes, that's correct.
- 1:03:38Correct, correct.
- 1:03:39And every time somebody says the word exactly.
- 1:03:42Is one more little bonus on that?
- 1:03:44Is I even have my own whiskey?
- 1:03:46Get out of here.
- 1:03:47Cool, exactly.
- 1:03:48What's a drink?
- 1:03:49Really?
- 1:03:50Yeah.
- 1:03:50Is that available in stores?
- 1:03:52It was supposed to be, and I did it as a small batch,
- 1:03:56and then I kept the whole quantity,
- 1:03:58and I used them as gifts and things.
- 1:04:00That's awesome.
- 1:04:01That's exactly what I need on this show, actually,
- 1:04:04is some whiskey.
- 1:04:06Oh, that's awesome.
- 1:04:07I love it.
- 1:04:08Listen, man, I can't thank you enough.
- 1:04:10I know you're incredibly busy.
- 1:04:11You get a lot of people asking for your time,
- 1:04:12and I'm gracious that you've made time for us and our listeners.
- 1:04:15Like I said, we're going to put links to fillmjones.com
- 1:04:18and the podcast, your Instagram feed, by the way.
- 1:04:22I meant to go there.
- 1:04:23We didn't have enough time,
- 1:04:24but your posts on your Instagram feed,
- 1:04:25like the content there is killer as well.
- 1:04:28So we'll put links to your social media sites
- 1:04:30and all that kind of jazz.
- 1:04:32Appreciate you, Phil Jones,
- 1:04:33for making so much time for being here, man.
- 1:04:35Round of applause.
- 1:04:38All right, man.
- 1:04:39And listeners, you know what to do.
- 1:04:40If you like this episode, hey,
- 1:04:41leave us a review.
- 1:04:42We appreciate you,
- 1:04:43and we'll see you on the next one.
- 1:04:44Bye for now.
- 1:04:52Hey, guys, what's up?
- 1:04:52Real quick.
- 1:04:53You've heard about the Mortgage Marketing Pro membership before,
- 1:04:55and I just want to quickly remind you
- 1:04:57if that you're in a place in your business
- 1:04:58where you simply need more purchase loans.
- 1:05:01You need to fill your pipeline with purchase business.
- 1:05:04Let's just face it,
- 1:05:04agents are still a solid pillar of business
- 1:05:07and sources of purchase business for you.
- 1:05:10Well, good news.
- 1:05:11Our Mortgage Marketing Pro membership
- 1:05:12helps loan officers like you close more loans
- 1:05:15without the hassle of chasing agents or cold calling.
- 1:05:18Done for you, agent classes,
- 1:05:20expert training videos,
- 1:05:21a marketing automation platform
- 1:05:23that automates the entire process for you,
- 1:05:25everything you need
- 1:05:26to build your personal brand in your local market,
- 1:05:28attract and convert agents into referral partners.
- 1:05:32Plus, done for you proven marketing materials
- 1:05:35and plug-and-play content
- 1:05:36to make promoting your class,
- 1:05:38getting agents, butts and seats,
- 1:05:39partnering with affiliates, real easy.
- 1:05:42But that's not all.
- 1:05:43You'll also get access to our weekly mastermind calls
- 1:05:47with top L.O.'s authors, speakers and coaches
- 1:05:50to learn the best strategies
- 1:05:52to grow your business right now in today's market.
- 1:05:55And as an extra bonus for limited time,
- 1:05:57for all new members,
- 1:05:59you'll get access to a database of 200 agents
- 1:06:02in your local market that have closed anywhere to
- 1:06:05from eight to 50 transactions in the last 12 months.
- 1:06:08And we'll provide that list
- 1:06:10uploaded into our platform for you
- 1:06:12so you can get off to a fast start
- 1:06:13in reaching actually productive agents.
- 1:06:16So what are you waiting for?
- 1:06:17You can check out more at mortgagemarketing.pro,
- 1:06:19see more of the success stories there.
- 1:06:22And if you feel compelled to do so,
- 1:06:24book a call, we'll have a chat.
- 1:06:25We'll see if it's a fit.
- 1:06:26Don't miss out on this opportunity
- 1:06:28to take your mortgage business to the next level right now.
- 1:06:30Head over to mortgagemarketing.pro.