Welcome to Lending Leadership: The Mortgage Pros, your go-to podcast for mastering the mortgage industry and developing leadership skills. In this episode, we're talking about the art of overcoming objections in the mortgage business.

We're excited to have a detailed discussion about how to handle objections like a pro—whether they come from buyers or realtors—and turn a "no" into a "let's talk." Hosts Robert Fillyaw, Dave Holland, and Tom Mills explore common objections faced by mortgage professionals and provide strategies to effectively overcome them.

We cover that particularly well-known hurdle: "I already have a preferred lender." Understanding the psychology behind these objections can help us skillfully navigate these conversations and convert skepticism into potential partnerships.

Turning to client objections, we focused on rate-based concerns and the misconceptions surrounding them. We emphasized the importance of understanding the buyer's long-term goals and providing advisory support to align their mortgage decisions with their financial plans.

5 Key Takeaways:

1. Understanding Objection Foundations: Every objection has an underlying concern. Discovering and addressing this foundation can transform objections into opportunities for relationship-building and gaining trust.
2. Strategic Realtor Engagement: It's crucial to develop a strategic approach when engaging with realtors, especially those who may initially resist due to existing relationships. Building trust and showcasing unique value propositions are key to overcoming this barrier.
3. Customer Education on Rates: Buyers often fixate on rates, unaware of the broader impact of their mortgage decisions. Educating clients on the comprehensive benefits and aligning with their goals is essential for overcoming rate-based objections.
4. Listening as a Sales Tool: Truly listening to clients and realtors can help mortgage professionals identify the real concerns behind objections, allowing for informed and empathetic responses.
5. Embrace Objections as Opportunities: Objections should not deter mortgage professionals. Instead, they serve as valuable opportunities to present additional information, address concerns, and showcase value—ultimately leading to successful conversions.

We hope this episode empowers you to view objections as stepping stones rather than stumbling blocks. Remember, your ability to handle objections with skill and empathy plays a significant role in your success as a mortgage professional.

And the trivia answer is: According to NerdWallet's 2025 Home Buyer Report, 62% of Americans say that a 20% down payment is required to buy a home.

If you have feedback, stories to share, or specific objection-handling techniques that work for you, reach out to us! We'd love to incorporate your insights into future episodes. Don't forget to like, subscribe, and share our podcast with your network. Until next time, thank you for joining us on Lending Leadership: The Mortgage Pros.

Robert, Tom, and Dave

Alright. Welcome everyone to the next exciting episode of Lending Leadership with the Mortgage Pros. As always, Robert Fillyaw here joined by my cohorts, Dave Holland and Tom Mills. What's up, fellas? How are y'all today? Good. How are you, bud?

Good afternoon.

Good afternoon. I'm good. I am in San Francisco getting ready to watch Florida whip up on Maryland in the sweet 16. So excited about that. We'll see about that. Tom's already off his rocker, but yeah. Hey. You know, exciting topic today, something that we hear a lot in the industry, and I'm excited to mix it up with you guys.

Today, we're gonna be talking about overcoming objections like a probe and how you can turn a no into let's talk. You know, everyone out there, if if you've been in this business any amount of time and you've ever asked for business, you've been hit in the face with some level of objection, some level of no. We're gonna talk about, you know, kinda what some of those standard typical objections we hear are, maybe how to overcome them. But probably more important than than the actual, you know, objection is the ideas behind it and and the talking points around it. What what do you guys think of that?

I think that's great.

Are we talking we're talking buyer objection, realtor objections, both both?

Yes. Both. Let's tackle both. Yeah. Let's do both. Let's do both. Let's What do you wanna do first? Let's start with our realtor objections because, you know, our our buyers are our customers, but our realtors are our referral sources. Everyone out there, that's an important thing to keep in mind.

A buyer will feed you for a day. A realtor will feed you for life. Alright? This is this is one of my favorite ones. I'll take the first one. You call the agent. You you've you've done your your due diligence on them. You know they're qualified. It's someone that you wanna work with.

You give them a call, and you get hit with, hey. Thanks so much for calling, but I already have a preferred lender.

The natural first response.

Right? Bam. I've already got somebody. Of course. Of course you do.

Of course you do. You're a full time professional agent. I mean, that's that's what you say. That's that's always the answer back.

Because it yeah. That's the go to. That's probably the eight out of 10, you know, objections that that you hear.

It's so easy for them also. Right? Like, I already got somebody.

Meanwhile, we're looking on, like, redder, and we know we're like, we know it's these three people, and we think there's room for me to slide in Yeah. And overtake and overtake them all.

Yeah. You closed 12 deals last year with eight different lenders. That's cool. So I I love this one, and I've used it a couple times to overcome or or to really just kinda shift the narrative. Of course, you do. You're a rock star, Rob, wouldn't you? I just want you to think about this. Even Tom Brady had a backup. As good as your lender may be, what happens if you need someone else in the pinch? Let me be your backup.

That really flowed out

of your mouth, Epperstley, Robert. I I like it.

I've said it hundreds of times.

Yeah. You you obviously don't just ask for business. You know? You have some impression with the agent. You meet them, and then there's a follow-up, you know, for business. So I guess, you know, the objection maybe, you know, trying to get them get them to meet with you. You know? And they're like, hey. I have somebody I work with, and, you know, I'm I'm really busy. You know? I think you have to play into you know? Look.

I mean, what do successful people do? They collaborate with successful people. So if you believe that you're a good loan officer, really know your market ahead of things, you have to lean into that a little bit and say, hey. You know, I I I get it. You know, you're you're you're successful. I'm successful. Let's get together. One of the advantages of my career, I'm sure has been yours, is is collaborating with great people. You know, you never know what comes of a type of thing.

Let's get together and talk. At the end of the day too, if you haven't had the objection, you're not really you're you're you're not really making sales attempts. So, you know, you're not going to you're not gonna convert everybody. Everybody's not meant to meet with you or not meant to do business with you, and sometimes their objection's valid. So I think, you know, just take a real genuine approach towards solving it, whatever it is. Because if you get start to get too salesy, they're already trying to push you off with the with the first, you know, with the first push off.

Salespeople don't like being sales sold to. Right? And I figure if if I can convert 10% of the realtors that I'm chatting with on a regular basis, that's a massive number. That seems like a modest number. Maybe there's some of our listeners. And, Tom, to your point, if you're not getting nos on a regular basis, you're not really putting yourself out there.

Yeah. You know what I'm asking?

And sometimes it's not a no. Like, sometimes I meet with realtors, and I I think they're cool. Like, I'd wanna work with them, but we just don't vibe. For some reason, I just I meet with them. They they seem great. I'm like, it's not gonna be a good fit, and he or she is never gonna send me business. And I know that usually with the first fifteen minutes.

And that's okay. That's And

and that that's totally okay. Yeah. It's it's just not a good fit. They may have a long term, you know, fifteen year relationship with someone and maybe their cousin. You know? Maybe they're, like, sibling, college buddy. So they just have a really good relationship. So, you know, at the end of the day, it it's kind of a numbers game. Right? You you just, you know, this is obvious to a lot of our listeners, but people forget.

You just need more at batch. You gotta meet with more realtor partners, overcome more objections. And like Tom said, if you're not getting a lot of nos, you're probably not doing a lot of prospecting and sales activities. And for me and and I mean this. Like, I'd love, like, just meeting with realtors. You know, if I don't know them well enough, usually over coffee because it's quicker. Right? It can be half an hour, twenty minutes. I like getting to know them.

I like getting their ideas because it it gives me energy. And, also, if we never work together, that's okay because if they're a buyer's agent and they have the buyer or if they're listing agent, I have a better shot of getting an offer accepted. And, also, they may not try to dykes because since they know me out of respect, they're not gonna divert their buyer to their in house lender or through their preferred lender. Right? So I try to meet with everyone as many people as possible.

I I think you're right. I think it's a numbers game, but in the same sense, you know, there's gotta be some strategy behind the numbers. Right? I mean, we're not calling out of a phone book. You know? So we start with qualified qualified realtors number one, but so we could probably have a whole another question a whole another call about that.

I think it also depend that that's a whole different call, but I think it also depends on your level of business and where you wanna set the bar. I mean, I I would say six to eight buy sides at a minimum.

Yeah. Yeah. But I think, you know, you know, let's say you have, you know, 50 realtors you're focused on that you're trying to get business from. You know? And, you know, x amount of them are really high level producers. You know? You you can't take the the shotgun approach with that agent and just pick up the phone randomly and no nothing behind it and and grab a meeting. You know? I think that you you have to take a more strategic approach. You have to engage them differently. You have to seek them out.

You have to engage with them online. You have to see them in events. You have to know a little bit about them, know a little bit about their business. So you're coming at it in a way that you learn a little bit more about them, and it's it's not as it's not a shotgun. And I think when you do that, maybe you get them to follow you a little bit. You can do some things to remove the objection. You know? I think there's some ways you can position yourself.

The other thing that I really like when you get that objection of I already have a preferred lender is I I just like to open it up. Right? Ask an open ended question. Oh, of course you do. That's awesome. What do you like with working about them? Because now maybe I can learn something that'll make me better, and I can learn where can I add value to them in the future, you know, to to try to build that relationship? Great first objection. What other objections do

you guys hear from real estate agents? I give out three cards. I give out three lenders. That's classic. Some people some some realtor think that is Like, a required acquire I mean,

it's it's a rule.

It's not in, like listen. I get that everyone wants the best transaction or the the best possible terms to a certain degree. But what I don't wanna have happen ever is that my team and myself work really hard with the customer, weekends, evenings, cost sheets. And at the end, they get two other phone numbers, and then then it's a beauty contest. Right? Because then I've done all the work, and there's a chance that I don't get I don't get paid. And I I think that's fair. No one wants to do a lot of work and not get paid for it. It's unfortunately, it's it's something it's a reality in our business.

The op you know, the other thing is they gave out three cards in the beginning, then you got three salespeople in their ear. Right? With Confusion. Confusion. Right? And then it's then it's like a beauty pageant. It's hard to show value. They're getting bad information. They probably already have in their ear possibly a parent, a friend, uncle Bill who bought a house seventeen years ago one time. Right? So it it it creates confusion.

Like, my best agents generally and I and I respect agents when we give out three cards, but my best agents usually only give out me because they know they know I'll do a good job. They know I have good terms, and I think we all agree, like, we're never we're never gonna have the best terms. No. No mortgage person's gonna have the best terms. Can't have the best terms, the fastest service, and the most quality service. The those you could have two out of three. You can't

out of three.

Yeah. You you can't get all three. But if someone says what's the best pizza in Robinson Township where my office is at, I'm not gonna give them three or four names. I had an agent one time say I give out five five or six names. I'm like, that makes your life miserable because my top agents wanna know what I'm gonna do, how my team works, how I work. They can we can anticipate each other. We kinda get in the flow. And when you're giving out, you know, two, three, four names, I mean, it's it's impossible.

Alright. So if you give out those three cards every time, but every, you know, customer that seems to get this one card is raving you, thanking you, and service is just at another level of the other two. Are you continuing to send all three of those cards? You know, why would you do that? You know, if you have someone that could provide us proven to ride superior service, proven to create raving fans and a better overall customer experience, why wouldn't you wanna steer at that direction? And I think maybe they just haven't had that yet. You know? Maybe they haven't really been impressed or wowed or had that loan officer that's become that person that they have that level of confidence to say, hey. I need you to talk to Dave. He's he's amazing. All my customers love working with his team. They're great.

You know, let's get to the preapproval phase. If you're not happy with them, you're able to shop whoever you wanna shop with. You know? And and then it's up to us to win. Right?

And I get some agents that do a high volume of business may have some specialty lenders that do some odds and ends.

Certainly.

Whatever that may be. Doctor program. Yeah. Yeah. So, like, you know, more sophisticated agents have it, but when an agent's constantly sending out three, it's tough because it's a beauty contest. And as a loan officer and a professional, I pour into my customers. Right? My me and my team really do. So I don't wanna do a ton of work only to, you know, have someone make the last phone call or they like their personality or some little nuance thing.

So, yeah, that's not a good that's not a good fit for mo most LOs, I don't think.

Dave doesn't wanna be involved in any beauty contests. I'll leave that there. Yeah. No. I think listen. What the flip side of that, though, right, I know we're talking about objections, but how about the just for a second, the flip side, when you have that agent that validates, I've had this with some of my top referral partners that, no. Robert is the guy, and if I'm your agent, he's your he's your lender. Like, we're we're gonna work together.

We're the team. That's a pretty cool feeling on the opposite end of the spectrum. Absolutely.

Well, I mean, your top top producing agents usually take less of a passive approach when it when it comes to the referral, you know, because they're top They're

not as commission scared either.

Yeah. I mean, they're not scared. You know? And and and I think customers feel that. You know? There's a level of confidence that you could portray. And, you know, this is a person that's going through a process that's really unknown to them, and they're looking for that level of confidence in my mind. So I think it's the best way to serve the customer is to I mean, if you truly believe and have confidence in in someone's team, then then you should you should you know, you're doing that cost that service doing that customer service by referring them there.

Well, plus from a top producing realtor standpoint or even not a top producer, they they wanna make sure their life is smooth. They don't wanna I don't wanna bash. Yeah. They're not on bashing lenders on this call, but it's like x x y z lender that they've never heard of out of Timbuktu that's gonna make their life a living hell. And they you know, they're not gonna have any updates. They're not gonna they're not gonna know what's going on with the file. So for them, it makes their life easier. You know?

You know, it's funny that you you talked about this x y z lender that never heard of because that's that's another objection from real estate agents, and I think it's probably a good last one for us to touch on. You know, you reach out to this agent and you get the, I've never heard of you before. I don't know you. And and you just you just touched on it as a, you know, as a, almost as an objection, a counterpoint objection on why they should work with you versus someone else. So when you have an agent say that, what what do

you say, Dave? It's really not a problem in my primary market where I'm here. It it does happen. Right? They maybe they haven't heard of me. Not all LOs listening are gonna have this, but I would direct them to we use experience.com. I would direct them to my experience.com page, and show them, I think, I have, like, 600 reviews. So that that says something. Other things that I do, I tell them how many years of experience that I have. Right? So I have a lot of experience.

Not everyone has that. You know? I guess I think what I did in the past when I was younger, I would send them, like, a bio, like, a cover letter. Sometimes I would even fax it. Right? So you you got you gotta think quick on your feet, and you gotta talk about the transactions you've done, the experience you have, the reviews. But I guess I don't really have an answer for if you're brand new in the business, what you say.

I mean You don't hear that one very often anymore. Yeah. I think, you know, I don't I don't think any of us hear that very often anymore.

I do when I'm out of market, though. If if I'm out

of market.

If I if I'm doing, like, a a transaction recently in South Carolina or West Virginia, I had that objection. Say, hey. That's that's fair.

Yeah. Let's just say you move to a completely new market. So they they and I would just take that opportunity to introduce myself. You know? And like you said, Dave, get some validation, you know, behind yourselves, you you know, and and what you've done in your career, customer reviews, what you specialize in, what you're good at, what you love about the business, what you know about them while you're calling. You know?

Well, it's calling ethics on the phone too.

It's it's got. So so all of that is, you know, I don't wanna get ahead of ourselves because we're gonna we're gonna talk about this a little bit. But all of these objections, guys, and this is a perfect example, there's a root. There's there's a a foundation to that objection. And when you can understand what that foundation is, then it helps you with how do you overcome it. Right? I've never heard of you before. It's basically them saying without saying because they're too polite to say it. I don't know you.

I don't trust you. I'm not putting my paycheck in your hand. Right? Yeah. That's what they're saying. So now you know where their concerns are. You can know how to address it. Totally fair. It's an opportunity now for you to build and earn trust, for you to grow that rapport, for you you know, maybe maybe take a stab at something that doesn't have a snowball's chance in hell of closing anyway.

And and, you know, you may not get a close, but you outwork and and out communicate. Right? And you start building that rapport in in the relationship. So every objection has some foundation of of concern. And when you can identify what that is So And then you know how to best kinda overcome and work around it. Before we move off, you know, realtor objections,

I want all the listeners to understand this. Like, sometimes, you know, a hard no in the beginning is better than, like, getting, you know, bled to death over the course of a year or two, like like, a maybe. Like, I'd I'd if if realtor is never gonna work with me, I'd rather kinda know that upfront than a maybe over a long period of time.

Well, again, let's not put them on a pedestal. The average realtor makes, you know, much less money than the average loan originator even today. So let's not put them on a pedestal. You know? I think, you know, if you're if you think you're you believe in yourself, you believe in your team, you believe in your ability to deliver, and you believe you have products that have some solutions for some borrowers today, you you gotta be confident in that. Don't put them on a pedestal. They actually need you as bad or as much as, if not worse than you need them.

Yeah. You're the prize guys. No doubt. Yeah. There there are 10 agents to every, you know, talented productive lender. Yeah. That number is probably higher, actually. Just think of that.

Look look at your local market. Look at how many agents there are, and then look at how many lenders there are you would actually do business with and do the math on it. You you'll be surprised. Alright. So let's move on to customer objections. These are some of my favorites. Right? We've we hear them all the time. So what what's probably the number one customer objection you guys hear?

The one thing that the customer is trained to ask. Right? What is it? What's your rate? I mean, it's What's your rate? Yeah. The customer is trained to shop rates. They Or

I I wanna or I wanna wait wait until rates are dropping or rates are too high or some something something rate based.

And in fact, they don't even say that they're shopping lenders or mortgage company. They say I'm shopping rates. It's the number one objection out there. I think rates, you know, today are just there's so much reason to create confusion. I think when they're higher, you know, meaning higher, like, above six and a half, above six, It's it's a it's a natural, you know, reaction to want want for lower. You know? Because they've seen different things, advertising, and advertisements can be very confusing. You need to read everything, you know, that that's advertised, essentially, because it's not always what you see until you read the fine print. But a lot of information out there for the customer.

And I think the first thing to ask them is a question back. When they when they tell you that they think your rate is high or if you're if we're dealing with that, your rate's a little high, you know, just ask them compared to what? Compared to what? Yeah. I mean, because Is it four years ago? Yeah. It's high. Or is it compared to the the guy who this got a a quarter percent better with two points? I don't know. But what are we comparing it to? What are what are what are we talking about, first of all? Because it you know, you can have the best rates in the market, and somebody can go beat your rate tomorrow. So it it's not just you know?

It's somebody will say your rate is high. Yeah. You know, as as we talk about the foundation of the objection, right, you you make a great point. Buyers that's a buyer objection because that's what they have been preprogrammed and predispositioned to ask. They don't know to ask anything different. Right?

Mhmm.

So, you know, I've always really looked at our our role as a as a advisory role, right, as a as a brilliant aspect of financial planning. So it's my job to find out what is your long term goal with this purchase that you're making, right, with this mortgage that we're doing. What's your objectives? And then to guide you through. Right? It's important, but in your situation, depending on what we're doing and all the variables, it might not even be a relevant part of our conversation. They just don't know to ask any different or ask anything else. So that's where you really have to get in and become that educator. You know, this this is what frustrates me. I'm gonna get on my soapbox for a minute.

This is what frustrates me so much about some of these online lenders or these AI type lenders that are really just a commoditization of our industry because they're just slapping someone in a deal. You don't know if it's the right fit or the best thing long term for what their whole financial plan is, and that's annoying. So loan officers, you have to do your part to educate and to guide your clients to make sure that you're not commoditizing our industry.

Well, I think, you know, I think there's a lot of customers out there that you don't even have the opportunity to get their objection because rates have kept them in in the stands. You know? Whether it's a customer that's got, you know, two nine nine, three percent, three and a quarter, and and it's sitting there with debt up to their neck, but they don't wanna consider consolidating that debt in the in the double at interest rate where they're at. Or or that that person that would, you know, bought their home with remorse in 2021 and would love to go go buy a a a new home, but they they don't want to because interest rates are double. You know? We gotta think about that. We're we're not even getting the opportunity to talk to those people. Like, they're staying in the stands. And

Well, first time homebuyers too.

They be? Should they be in the stands, or, you know, should they be should they be if they wanna do something, should they be doing something?

Well, first time homebuyers always say I'm waiting for rates to drop. Yeah. Right? Like, I get that mindset. Like, I don't get it. I mean, I understand why someone would say that, but as soon as if rates were to drop a percent tomorrow overnight, all the home all the home prices are gonna probably go up. Yeah. Those correlate. I'm 15%.

The best time to buy real estate is now. The second best time to buy real estate is tomorrow. Did I get that right?

No. It was yesterday. Was yesterday. Yeah.

Yeah. Yeah. So, I mean, the only we've talked about this, I think, on this podcast. Right? The only thing that is variable in a real estate transaction generally is the interest rate. Right? So you buy something today, you refinance it, hopefully, within eighteen to twenty four months, maybe sooner depending on the loan size.

In the same sense, if you're in the home you want, you wanna be in that home for the rest of your life, you don't have debt, you have a 2.75 interest rate, I will be the first to tell you, mister customer, you should not be touching that mortgage. You have no reason to. You know? If that's where you wanna be, you're not gonna outgrow that home, need to downsize from that home anytime soon. You don't have debt. Enjoy it.

Also, I'm a throw this out there as cliched, but interest on rent's a %. So, anyway, moving along. How about this objection? Because I hear this all the time as well. And, you know, there's a lot of there's a lot of false narratives out there. There's a lot of myths, a lot of lack of knowledge. I don't think I'll qualify. You know? I don't have 20% down. I don't think I'll qualify.

I've only got a six fifty credit score. Well, whatever it may be. Something, around objections because of qualification concerns.

What's the stat? And I I should I should've looked at the notes and known this before. What percent of people think that you need 20% down to buy a home? It's like a large number of people, first time home buyers.

I don't know. Maybe our producer can Google that while we keep chatting and put it in the notes for us so we'll have it. There you go. There you go.

Yeah. So misconceptions that you need 20% down, misconceptions that your, you know, your debt to income ratio, it's gotta be 28 front end, 36 back end. I mean, that was, like, way old school. But some people think that, you know, a lot of programs, VA, USDA, FHA, there's still some 0% down programs. You still need some money. Right? You you're still gonna need some money in a transaction, but a lot of borrowers think they don't have enough saved or, you know, their their credit's too credit's too low.

I think if you, you know, if you wanna buy a home in the next one to two years and you're saying, I'm saving money to buy a home, you should have already talked to a mortgage professional and gotten some advice to know what it's gonna take you to qualify, how much are you gonna need to save. Otherwise, what are you saving for? You don't even know how much you need to save. You could have missed the boat, you know, a year ago. Here you are stacking money. And by the way, that home now is worth $27,000 more than it was in a year ago. So, you know, I think it's you're gonna have to really a a plan down. And I think anytime you are considering buying a home, there's a lot changing with this market too. I don't even think if you did it six years ago, seven years ago, eight, ten years.

You don't think, oh, I've been there, done that. You don't. You should have some conversations if you think you're gonna do something. There's any level of concern you don't think you may qualify.

Tom, to your point, we've seen it people, you know, were waiting for the market to market to drop, market to crash, right, or to go down. And interest rates doubled two and a half times. Sure. Home values in some markets went up 40%. So there is a there is a pretty high cost for waiting. That home that you would have been paying a mortgage payment of $2,500 a month is now 5,500. You know?

Yeah. Every market's a little bit different how it's moving, but, yeah, there's there's generally a a cost of waiting. I mean, you know, the over time, you know, home values are you you you're you're pretty much gonna you're gonna win, you know, over time. And and and like Robert said, the the interest rate on on is is always higher on rent.

It's a %.

I hate I hate that. I I know you do. That's why I said it. That's why I said it.

Well, hey. Listen. Buying a home Well, I rephrased it.

Some people should rent. Right? I mean, buying a home is not for everyone.

So it's not renting these properties.

So we had a day to the homeowners rising, you know, dramatically. It's 38 now.

It's 38?

30 8. You know, it was a

little loan officer out there when you get that objection, I don't think I'll qualify. Like, this is really an opportunity for you to show value and and to show your knowledge base and be that advisor. Right? And, like, you can have a quick conversation. You don't even have to pull credit. Like, you don't even have to get a full app. If I got a client that says, you know, I'd love to buy a home. I don't think I'd qualify. I would have a three to five minute conversation with that client and and figure out real quickly.

Oh, really? What? Why? Why do you think that what what are your concerns with qualifying? Let's talk about it. Where do you think the sticking point is? And that's gonna come bring up some of these maybe misconceptions, and now you can educate and you can guide them through. And I've actually done this in in the past. I I taught a first time home buyer class for years and years and years. I would have people taking the class in the hopes that one day they would be able to qualify. And every almost every class, there would be someone in there that, you know, I think it's probably gonna be a year and a half, two years, three years before I can buy. And they would leave that class, and I would close I would close a house loan for them, a mortgage for them in the next thirty to forty five days. They were ready, and they just didn't know it.

In and out. So have that conversation, guys. It's powerful. Any other customer objections we wanna kick around?

I mean, I think we tackled the the big ones. It's the customers that are on the fence, and and and rates is what you hear most. You know? You you you've always got, you know, my dad used to do business with this bank or or such and such says they'll match whatever offer I get, you know, things like that. But, you know, I think grand scheme of it at the end of the day, you gotta one thing with customers, I think, is you have to show value. You can't just tell them how valuable you are. It's funny because, you know, someone will work with a customer for two months, and, you know, you had two months to really win that customer over, and then they're under contract. And then you wanna tell them how great your team's gonna be. Like, they've had two months with your team.

They should already know that your team's great. At that point, it's you're you have to make it hard for them. Like, if you're a good originator, you're not just you know, you're not you're not hearing, I got a better rate. You're hearing, Dave, listen. I had a better rate. I really wanna work with you guys. Here's what I was offered. Any mortgage company compete with any mortgage company any other day, but who depend on who they wanna trim out of the deal and and make that make that deal happen.

You know? I think that's important to to understand.

Great conversation, guys, on on overcoming the objections and specific objections and, you know, how to how to, you know, have some dialogue and some value add and and really, you know, you use them. Objections can can be a a a great opportunity to build relationships and to to gain trust. So let's talk a little bit in closing on the psychology of how of handling the objections because I think when we do it the right way, it can actually be a positive and and not a negative, which is typically how we we view objections. You know? So one thing I always like to remember as you get objections is is what I already said. Right? That it there there's some foundational concern that is bringing that objection up. There's they're they're giving you a pushback because they have something that they are worried about that you have not eased their fear on. And when you can get to that route and determine what that is and address that and and kinda check that box, you're off and running. What are some of the other things you guys see in in just in regards of, like, the psychology of handling objections?

One of my problems, and it still is, and as we're talking, I think I'm thinking to myself, I need to work on this, is to remain calm and truly listen. Your customer or anything in life, they may be telling you one thing, but it's not exactly it. And, also, sometimes you you're ready just to blurt out and have diarrhea in the mouth and ready to, you know, sell them, but you're really not listening to what they are saying. And I've probably lost hundreds of thousands of dollars over the years as a result of truly not listening. So becoming a better listener in all facets of lights, but especially when it comes to sales, is is a very key discipline that we we all can improve on.

Well said that, you know, that old saying of your ears are your greatest sales tool is very true because, you know, you're not realizing you're getting objections because you missed the whole opportunity. You know? What they were looking for, you you you it went right over you. You were you were thinking about the next thing, and you weren't listening. And if you were you would have tailored things or presented things in a way that maybe didn't get that objection. That's a that's a really great point, Dave.

Yeah. And

I think my my mindset is just, you know, look. We're in what we do, we we solve problems. We make things happen for people, and, you know, we're we're we're looking to contact realtors to find more people that we can solve problems and make things happen for. So I think you just have to have that mindset. Like, hey. I'm here to help. You know? I'm here to solve. I'm I'm servant.

That's my mindset. That's why I'm here. Don't you know? But, you know, in the end of the day, you know, let them know how you can help, how you've helped people, what you do to help people, and do that enough, and and you're just offering to help people. And and, you know, objections are gonna come. That just means they don't need your help at that point. You know? And I think don't make it a big deal. Just get out and ask more. That's where that numbers game comes in.

Absolutely. The more people you talk to, the more people you ask about a mortgage, the more mortgages you're going to originate. That is a fact. So just get out and talk.

I I love both of what you guys have said, and and that mentality piece, Tom, is so vital. You know? An objection isn't necessarily a no. It it oftentimes, it's I need more information or, you know, it it's an invitation for as as an originator for you to ask open ended questions to better understand what their concern is, what what their need is, what they're actually trying to get to, and then go from there. I think, Dave, you had a great point. So often, we're so worried about selling. We go to the diarrhea of the mouth. And if you'll just pause and listen and then ask some open ended questions to gain understanding and then come forward with a needs based solution, you're gonna win more often than you're gonna lose through that.

Yeah. And something for all our listeners to remember. It's okay to walk away. It's okay to walk away.

You're not supposed to win them all.

Yeah. From certain if you're winning them all, you're, again, you're not going to bad enough, but it's okay to walk away from certain realtor partners. It's okay to walk away from certain customers who use you and abuse you. Just say no. Walk walk away, and there's there's many more people who will respect you out out in your individual marketplaces.

Today is opening day of baseball season. I always use an analogy. If you bat 300 in your career in baseball, you're probably gonna make the hall of fame. Right? You know? Absolutely. Twenty year veteran, three hundred career average, you're going in the hall of fame. Right? Going in the hall of fame. The the same probably apply if you get that many at bats in the mortgage business and you hit 300, you're probably going in the hall of fame. Mhmm.

I

believe that. Absolutely.

Or you're gonna make a lot of money.

That means you failed seven times. That means seven times you accepted no to the three times that you took yes. So those wins are great, aren't they? That's what is so beautiful about this business.

The more nos I get, the more money I make.

Wanna step closer.

Alright, y'all. Thanks so much for tuning in to lending leadership with the mortgage pros today. Hey. Hope you enjoyed this episode. We've covered some realtor objections, some client objections, some psychology of the objections. Remember, listen first, validate concerns, open into questions, and then respond with a solution. Next time you hear an objection, instead of reacting defensively, try asking those those questions and uncovering needs, see how it goes. If you've got a great way to handle objections, we'd love to hear from you.

Drop us a message and let us know what it is. As always, don't forget to smash that like and subscribe button, and we'll see you on the next episode. For Tom Mills and Dave Holland, this is Robert Fillyaw. Have a great day.