1.
Life Cycle Selling
Earning Trust With Customers

2.
Life Cycle Selling
• The selling process starts once we have received a lead (or an enquiry).
• No matter if the lead has been converted to a client, unless the lead (client) choose to
opt out, we keep the lead (client) in the life cycle selling process
• The selling activities are incorporated into all three stages of business process,
Conversion, Implementation and Post Settlement Care

3.
Business process for mortgage broking
Lead
Generation
Conversion Implementation
Post Settlement
Care
Life Cycle Selling Activities

4.
Why Life Cycle Selling
• It is obvious that the first objective of sales process is to convert the lead to client, ie
getting the loan to the customer and complete the settlement.
• However just having a loan settled doesn’t guarantee a happy and satisfied customer,
let alone one who is going to go on to refer your service to their friends and
colleagues.
• More importantly, if the customer doesn’t see the value in you, no one can stop them
to vote by feet, refinancing their loan with other broker, your competitor. It can mean
the clawback of upfront commission.
• The Life Cycle Selling is designed to enhance your potentials of converting more
leads, promote your value proposition and create long term customer relationship.

5.
Three Stages of Sales Process
• Conversion – This is the stage where we provide advice and present solution for
customer’s requirements, aiming to convert the lead to the client. The key to succeed
in the conversion stage to build trust of customer in you that you have the
knowledge, skills and resources to get them the loan that is most suitable for them.
• Implementation – This is the stage we process the loan application from preparation
to settlement. Most brokers would “pass the buck” to admin or processing staff, in this
process. However this is the stage where the customers “see your true color.” through
the loan application process experience. Apart from technical activities, we must focus
on customer experience during the whole process with selling activities
• Post Settlement – The purpose of post settlement care process is to create
stickiness of clients. It is critical to maintain loan book, create new business and
generate new leads though the funnels.

6.
Today, we discuss the sales process in Conversion Stage

7.
5 Steps in Conversion Stage
• Fact finding
• Feasibility analysis
• Solution Design and presentation
• Close
• Follow-up

8.
Goals to achieve in Conversion
• How to get a mortgage, especially when people buy a property, is a
serious decision to make for every customer, because the large
amount of money is in stake.
• They will only use the mortgage broker who they trust.
• The goal of sales process in Conversion stage is to create and build
the trust with customer.

9.
What is trust
The firm belief in the reliability, truth, or ability of someone or something.

10.
How people judge if you are trustworthy
• Ability – Are you an expert in the field, and whether I can rely on your experience,
knowledge and advice, and if you have sufficient resources to solve my problem
• Care – Do you genuinely care about me and my loan application, rather than just ego
driven. If necessary, would you go extra mile to help me
• Integrity – Do you deliver what you promise.

11.
7 ways to earn trust with clients
• Demonstrate you have industry and market knowledge
• Understand the loan products and features you recommend
• Be transparent and honest on what you can and cannot do
• Be direct. It’s okay to tell customers what they think is incorrect and to correct customer
• Be even handed. Discuss different perspectives of products, structure and solutions and
let customer make informative decision
• Promise less, deliver more
• Listen, listen and listen

12.
As a mortgage broker, we are selling products that are
uniformly available to everyone.
So the differentiation is YOU.
It’s not about what you sell, it’s about how you sell.