POWER STATEMENTS - THE MARK OF A PROFESSIONAL

Can you imagine the following conversation between a loan officer and Realtor, neither of who know each other, nor each other’s job?

 

Realtor: “Hi, my name is Mary what is your name?”

LO: “Pleased to meet you Mary, my name is Dan………..

Realtor: “And Dan, what do you do?””

LO: “I do loans”

 

Although Dan’s response may be true, the manner in which he responded is hardly going to entice or encourage Mary to probe further. In a world where first impressions are critical, and where observing the motto “Observe what the masses do and do the opposite” is mandatory, Dan’s response places him with the multitudes that do not ever set themselves apart. When presented an opening to succinctly state what you do, you must be prepared to jump through the window of opportunity, not simply slam it and break the glass in the process.

 

The odds are good that some day you will attend a Broker or Realtor luncheon. Often the sponsoring entity will pull one or two lender business cards out of a punchbowl and allow those chosen to deliver a two-minute commercial to the meeting attendees. THIS IS A WINDOW OF OPPORTUNITY. You can choose to be prepared ahead of time, and rehearse what you will say or you can do what most Brokers do and wing it. The latter approach will not set you apart; in fact you will become lost in a sea of lenders who don’t get it. No opportunity should ever be lost to make a marketing point or strengthen the perception your customer base has of your abilities and professionalism.

 

As a professional Broker and loan originator, you should have a prepared statement that is concise, compelling and memorable. Within the world of marketing this is called an “elevator statement”, whereby you can tell me what you do and the value propositions for why I should work with you or use your product. The term “Elevator Statement” is used because if it takes you any longer than a short elevator ride to complete your statement, it is too long.

 

If your name were to be called in a random drawing during the next Realtor function you attend, what would you do? The reactions cover a wide spectrum. In my experience having attended hundreds of such meetings all over America, I have seen it all. Unprepared. So nervous you could hardly hear them. Terminal ‘TMI’. Too short. To long. Too many “um’s” and “uh’s”. For some, the color rises in their face from about their chest up. By the time they get to the podium you can visibly see their neck turn from flesh pink to red. By the time they must address the audience they look like a commercial for Benedryl.  Today’s broker must be a professional, in all senses of the word. That includes being comfortable in either one on one or group settings with a prepared “Power Statement”.

 

WHAT IS A POWER STATEMENT?

 

A statement that makes your product or service outstanding, understandable, credible (incredible), and buyable.  A (nontraditional) statement that describes what you do and how you do it in terms of the customer and his/her perceived use or need for what you are selling.  The objective is to persuade and motivate the prospect (borrower, Broker or Realtor) to act.

 

POWER STATEMENT CHARACTERISTICS

 

A statement that makes the borrower/broker/Realtor think.

 

A statement that builds your credibility with a prospect.

 

A non-traditional (non-boring) statement that describes what you do and how you do it.

 

A statement about what you do in terms of what your prospect needs.

 

A statement that is memorable.

 

If you took the power statement characteristics above and began to formulate your own, you could start practicing today. The key characteristic is that your power statement is memorable. To be assured of being memorable you cannot allow your statement to sound like everyone else. It must also include the value proposition of how the customer will benefit. The old adage of “WIIFM” still rings true – The customer is always inquiring with either “What is in it for me”? Or, “how will I benefit by using this person as a lender for my borrowers”? Your Power Statement must answer these questions.

 

Five Steps To Your Personal Power Statement

 

Write out a preliminary prototype.

Try it out on customers for a week and identify the portions you wish to fine tune.

Practice your statement until it is absolutely routine and does not sound staid or like you are reading it. The more conversational in tone you can be, the greater the attention and acceptance.

Find ONE THING you can hang your hat on that is not what everyone else says.

Do not be afraid to constantly change and fine-tune your Power Statement.

 

Assume you are addressing a Realtor’s weekly sales meeting and have been given an opportunity to say a few words to those in attendance. Given the fact that weekly meeting agendas are usually filled with more issues than time allows, you may be scheduled for no more than 2-3 minutes on some occasions. Do not spend your entire allotted time on your products, your pricing or your reputation. That is what 95% of everyone else does. Remember, “Observe What The Masses Do and Do The Opposite”.

 

Assume the opportunity posed above is yours. You might consider the following:

 

“Your long term success as a Realtor is dependent upon your continued referral business. _______________’s (your company name) commitment and my personal commitment to you is to absolutely make sure your borrower is so pleased with their entire transaction that they will not only return to you for their real estate needs but continue to refer their friends and family to you as well. I don’t make this commitment lightly because my success is your success. And that’s my story and I’m sticking to it.”

 

You may choose to use a portion of the preceding or choose to ignore the entire thing. Whatever your choice, begin working on your Power Statement today. In a changing market like we are experiencing, you sales skills will be tested. Make sure your personal Power Statement passes the test.

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