The Basics of Creating Trust

From: Ameen Kamadia

How do your prospects decide to buy from you? What criteria do they consider when shopping for services like yours?


Buying decision lists include things like:

  • Experience
  • Track record
  • Testimonials/references from customers
  • Unique Selling Proposition
  • Expected return on investment

Along with those and other considerations, the fundamental criterion, and one that a prospect might not even think about consciously is trust. You could score a 10 in all the items listed above, and if the prospect doesn't trust you, you aren't likely to make the sale. Or, if you do, the new customer will micromanage everything or require a lot of attention--and if you slip up once, they will be gone.

Trust is the critical success factor in any business, but it is especially important for a mortgage business. A product-based company certainly needs to be trustworthy; unlike a mortgage company, though, it has tangible products that the prospect can see, touch, taste, test drive. In many cases, the prospect focuses on the thing they will buy and gauge trust in terms of its usefulness, craftsmanship, and esthetics.

A mortgage business doesn't have a thing to put in front of a prospect. It must convey trustworthiness through words and actions. And the place to start conveying trustworthiness is right up front, in your marketing:

Respond to queries quickly, completely, and positively. When you are contacted by a prospective customer, respond right away. Answer any questions they have posed, provide materials that will give them more information without any hard sells, and invite them to make an appointment to talk further with you.

Be on time for meetings. A prospect (who became a client) once told me that he sets up phone meetings with possible providers to test their reliability. He was impressed that I had called him when I said I would!

Reassure your clients. Make guarantees for your services. I offer a "no questions asked" full refund to any client who feels they have not gotten what we promised

Do what you say you will do. This should be a no-brainer, but the truth is that if you follow through on your commitments, you will be way out in front of your competition. And you will cement the relationship with your client, which will encourage their loyalty and advocacy (that is, they will tell their friends and associates about you!).

Another difference between a mortgage company and its product-oriented counterpart is that the trustworthiness door swings both ways. We talk a lot about being trustworthy to win business, but you also need to be discerning in terms of the prospects you take on. Clients who are not trustworthy are a drain on a company's resources and will undermine your growth in many ways. The way a prospect interacts with you during the sales process will be a good indicator of how they will work with you once they buy. It will serve you well to have criteria with which to gauge prospects, and to pursue only those that meet your standards.

Happy Originating!


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