Written By: Brett Grendhal, CEO and Founder of Tidalwave Capital, a boutique mortgage planning firm in Minnesota, where he originates over $30 million annually over his 8 years in the business. He is a honors graduate of the Carlson School of Management (University of Minnesota). With a passion for marketing, Brett is relentless in making sure all of his marketing efforts have high impact. Email Brett at BrettG@TidalWaveCapital.com or visit him at www.BrettGrendahl.com.
The BIG question to ask yourself today is, “Am I selling yesterday or tomorrow?”
As forward-thinking mortgage professionals transition to a new world of mortgage planning, our selling presentations and conversations need to be retooled.
Changing the words you use when working with clients can make this transition.
I am personally making this transition and find a need for a new “language” in order to effectively get my client’s to embrace the new rules of using a mortgage as an overall financial planning tool. We need to be ambassadors about how to use a mortgage as a way to build wealth and to make sure that our clients understand these new concepts and know how to apply it to their own lives. The foundation for making this happen is to change the way you used to sell a mortgage
and replace them with a new vocabulary.
The process begins with a new vocabulary that breaks down the “old rules” and replaces them with new insights and new creative choices.
The true mortgage professional--the trusted advisor--the mortgage planner--has learned the advanced financial concepts that focus on preserving and protecting their clients’ financial security. The litmus test for achieving these goals is to make sure that our advice and the strategies we recommend ensure their liquidity, safety of principal, and create consistent rates of return on their money.
One paramount reason we need to change our vocabulary is that ingrained in the American homeowner is the feeling that their “home equity” is their wealth. I see a danger of using the terminology of “home equity” because it marries the client’s equity with their home. Until the psychological tie of home and equity is broken, it is hard to get our clients to open up to the advanced thinking of mortgage planning and the concepts of Doug Andrew, Ric Edelman, and other thought leaders of financial advice.
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