Selling Mortgage Protection by Phone

[NinjaNic]

I have...search posts by me.

 

[99hitpower]

Selling "Mortgage Protection" by phone is just a marketing term. It is the same as selling "Income Protection" or "debt protection" life. It is just a concept, all fed by the same products. So, your question becomes--"who is selling life insurance by phone?"

To answer your question--yes, screenshare is very valuable. Use it to walk someone thru an online health analyzer, let them see the results in real time, explain the differences in product and let them choose. Very valuable tool. Great one is join.me - no downloads and all web based for the end user.

Life used to be a one call close. The consumer has changed, those days are behind us. Now you have to build more trust, follow up and provide something to review. Most sales these days are on call two or three.

I have found that most people don't skype, unless they are in a business that warrants it. Most are going to be by phone. If I see a gmail address on a lead, I often ask if they want to face to face hangout/screenshare.

With selling by phone, you have to acknowledge that these consumers have looked at multiple websites and have multiple agents calling on them. You need to set yourself apart from the rest and be memorable. The big .com agencies are even behind the times and none of them are using screenshare or face to face conferencing...this is where the independent agent can shine and win.

Btw, I have placed over 7k life cases by phone over the last 8-10 years and assisted agents in tens of thousands more. It is all about technology and standing out. Period.

The average "mortgage protection" prospect is in their 40s. Most are just learning about Facebook from their kids. They are not tech savvy. Of course it can be done but that doesn't make it a good idea. I'd like to see your persistency numbers on that whopping 7k. Bottomline is nothing beats a sitdown at the kitchen table. 1 shot 1 kill. Period.

 

[Glen Shelton]

The average "mortgage protection" prospect is in their 40s. Most are just learning about Facebook from their kids. They are not tech savvy. Of course it can be done but that doesn't make it a good idea. I'd like to see your persistency numbers on that whopping 7k. Bottomline is nothing beats a sitdown at the kitchen table. 1 shot 1 kill. Period.

Unless something has changed recently - the average age on a returned direct mail mortgage protection lead is 55.

I was told this from someone who handles the marketing for a 20 million AP brokerage and when I was running those leads previously it seemed about right.

 

[NinjaNic]

The average "mortgage protection" prospect is in their 40s. Most are just learning about Facebook from their kids. They are not tech savvy. Of course it can be done but that doesn't make it a good idea. I'd like to see your persistency numbers on that whopping 7k. Bottomline is nothing beats a sitdown at the kitchen table. 1 shot 1 kill. Period.

Selling traditional term...not "mortgage protection." So, persistency was very good.

 

[WinoBlues]

The average "mortgage protection" prospect is in their 40s. Most are just learning about Facebook from their kids. They are not tech savvy. Of course it can be done but that doesn't make it a good idea. I'd like to see your persistency numbers on that whopping 7k. Bottomline is nothing beats a sitdown at the kitchen table. 1 shot 1 kill. Period.

Most 40 year old homeowners are just learning about FB(Internet) from their 20 year old kids? What state do you live in?

 

[ianbroker31]

Unless something has changed recently - the average age on a returned direct mail mortgage protection lead is 55.

I was told this from someone who handles the marketing for a 20 million AP brokerage and when I was running those leads previously it seemed about right.

You are 100 % correct I've been buying mortgage protection leads for awhile now and in most cases the youngest sale is 55 years old. The younger ones will ask for the information they normally don't buy.

 

[Glen Shelton]

You are 100 % correct I've been buying mortgage protection leads for awhile now and in most cases the youngest sale is 55 years old. The younger ones will ask for the information they normally don't buy.

My personal favorites were the folks in the 65 - 75 range that were convinced they wouldn't qualify for anything...

Best FE deals ever in my opinion.

 

[WinoBlues]

My personal favorites were the folks in the 65 - 75 range that were convinced they wouldn't qualify for anything...

Best FE deals ever in my opinion.

I will buy those leads.

 

[sirherbie]

I talked to a very successful person who has a team who sells term on the phone. He told me a producer he has does $25-$30k a month of Ap but only makes 30% commission due to the massive cost of needing so many leads .

 

[Glen Shelton]

I talked to a very successful person who has a team who sells term on the phone. He told me a producer he has does $25-$30k a month of Ap but only makes 30% commission due to the massive cost of needing so many leads .

How many leads someone needs should not reflect their commission %. Sounds like he needs to go indy