NMP - February 2018 - 75

C

you are successful at that
answer, you may also gain a
client.
Here are five steps to
successfully tell others what you
do and generate interest:
1. Label yourself in three
sentences or less.
2. Produce three benefits you
deliver to your clients.
3. Tell a story using those three
benefits.
4. Probe for needs.
5. Trial close.
Here is a possible elevator
speech using all five steps. What
do you do?
1. Label yourself
I am a Mortgage Broker
specializing in helping my clients
refinance or get a new loan in
only a few days. (One of my
coaching clients calls himself a
"Disaster Recovery Specialist."
He helps people recover their
mortgages from high interest
rates and pay their loans down
quicker.
2. Produce three benefits
I do three things for my clients.
First, I help my clients qualify for
a loan in only a few days.
Secondly, we get the best rates
available. And finally, we make
sure the loans we originate also
help them build wealth.

4. Look for needs
Tell me, when is the last time you
took a look at your mortgage? Is
the rate competitive? Does it

5. Trial close
Assuming that you have
uncovered some needs ... if we
could help you lower your
interest rate and build equity
faster, would that be a benefit? If
they say "yes," book an
appointment.
My elevator speech
I am a best-selling author and
speaker. I have written nine
books, including three bestsellers entitled Mastering the
Game, Peak Performance: How to
Increase Your Business by 80
Percent in Eight Weeks and my
newest book, New Mindset, New
Results. I also have an executive
coaching company that
guarantees an 80 percent
increase in business in eight
weeks through one on one
coaching.
In fact one of my clients, a
Mortgage Broker from Omaha,
Neb. recently increased his
business from $200,000 to $1.2
million in just one year. We put
together a business plan, helped
him increase his ability to gain
referrals and dramatically
increased his closing rate. Tell
me, how much has your business
increased over the last 12
months? If we could get an 80
percent increase this year, would
that help? Can we meet next
week for an hour and talk about
how you can increase your
business this year?
An elevator speech will build
confidence and book
appointments from networking,
and drive more referrals to you. If
your elevator speech doesn't
cause people to say "Wow, I
need that," you're not doing it
right.

Dr. Kerry Johnson is a frequent speaker at mortgage
industry conferences. He is the author of six books,
including Mastering the Game: The Human Edge in Sales
and Marketing, WILLPOWER: The Secrets of Self-Discipline
and his newest book, Why Smart People Make Dumb
Mistakes With Their Money. He may be reached by phone
at (714) 368-3650 or e-mail Kerry@KerryJohnson.com.

75

n National Mortgage Professional Magazine n FEBRUARY 2018

3. Tell a story
One of my recent clients came to
me bleeding money fast. She was
a new grandmother and terrified
at the prospect of being unable to
travel and see her kids and
grandkids at least every three
months. She was in a high
interest loan that she was
struggling with. We got her a new
loan with lower payments that
she can afford. She now is
traveling and sees her grandkids
whenever she wants.

allow you to build equity as fast as
you want? Research has shown if
you can uncover one need, there
is a 35 percent chance of booking
an appointment. Two needs, 56
percent and three or more needs,
you have more than a 90 percent
chance of booking an
appointment from an elevator
speech.

NationalMortgageProfessional.com

an you tell a
stranger what you
do within 30
seconds in a
concise, succinct
and interesting
way? Are you able to differentiate
yourself from all of your
competitors in only a few
sentences? When you meet
someone new, do they hear what
you do and say "Wow!" Does your
Web site, brochures and business
cards draw interest and attention
to you? If not, you need a great
elevator speech. An elevator
speech is a verbal and possibly a
written calling card lasting only
the length of time it takes to ride
an elevator to the top of an
average building. Usually about
30 seconds.
A good elevator speech will
help your prospects and clients
define who you are and what you
do. It will help develop referrals
because your clients will tell their
friends exactly why you are better
than anyone else. If you don't first
define yourself, they will do it for
you. It is tempting to be a
generalist and be everything to
everybody. But the result usually
is appearing inadequate to them
all. It is the job of your prospect
to make you into a commodity.
That way, they can cheapen and
drive down your value and price.
For example, "You should go
see my Mortgage Broker. He is
really good. Why? I don't know, I
just like him." That doesn't give
them any reason to change from
their provider to yours. But if you
say, "My broker is the best in the
city. He can work to get you
prequalified in only 1 day." Now
that is a reason to book an
appointment. It's your job to
appear as an expert and first gain
their interest and later their wallet.
A good elevator speech
explains what you do in the time it
takes an elevator to reach the
10th floor. Someone asks what
you do for a living. You have 30
seconds to not only grab their
attention, but also gain their
interest. This isn't easy. But it is
de-rigueur if you want to become
even more successful. You must
be able to tell others what you do
in a way that makes them want to
do it with you.
Recently after a tennis match,
one of my buddies, "Hollywood,"
was asked by a club member
what he did for a living.
Hollywood said he was a
Mortgage Broker and went back
to his beer. He completely lost
any opportunity to gain a client.
Anyone who asks what you do or
asks you to explain something
related is asking your advice. If



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