Mortgage loan sales is a very competitive industry and your competition isn't sleeping. You need to make sure you're doing everything you can to convert more leads into paying customers. That's where mortgage lead conversion scripts come in! A mortgage lead conversion script is a set of carefully-crafted questions and responses that you can use to guide a lead through the mortgage process. By asking the right questions and providing the right information, you can increase your chances of converting a lead into a customer. To convert mortgage leads into customers, you need to be able to determine what they're looking for and see if your company can meet their needs.

Why Do You Need to Use a Mortgage Lead Conversion Script?

If you want to convert leads into paying customers, here are five reasons why you should use mortgage lead conversion scripts:

1. Better Conversions

If you’ve ever wondered how to convert mortgage leads into customers, scripts are the answer. Mortgage lead conversion scripts can help you understand a potential customer's needs and determine if your company can meet those needs. They can also help you identify any objections that the customer may have. By addressing these objections head-on, you can increase your chances of converting the lead into a paying customer.


2. Higher Productivity

A lead conversion script ensures that you are asking the right questions of potential customers and providing them with the information they need to move forward with their mortgage loan. This helps free up your time and reduces stress, allowing you to focus on doing what matters most: selling!

3. Better Customer Service

When you use a lead conversion script, you're giving your potential customers all of the information they need at each step of the mortgage process. The customer doesn't need to ask questions or chase you down in order to obtain the information they need, which leads to a more positive customer experience. Most customers will appreciate the extra effort you put into providing them with the information they need, and will likely be more willing to work with you in the future.

4. Higher Sales Revenue

When you increase your mortgage lead conversion rates, you can also increase your sales revenue.

5. Gain a Competitive Advantage

If you're not using a lead conversion script, your competition probably is. By using a script, you can level the playing field and potentially even give yourself a competitive advantage.

What Makes For Good Mortgage Lead Conversion Scripts?

Not all lead conversion scripts are created equal. To be effective, your script should be able to accomplish the following:

1. Determine the Customer's Needs

The first step in any sales process is understanding the customer's needs. Without knowing what the customer is looking for, it will be difficult to sell them your company's products or services. A good script will ask the customer open-ended questions that allow them to provide detailed responses, so you can get a better picture of their needs and determine if your company has what they're looking for.

2. Answer the Customer’s Questions

In addition to determining the customer's needs, your script should be able to answer any questions that the customer may have. If you can provide them with all of the information they need upfront, it will make your job a lot easier when it comes time to close the sale. This also makes for a more positive customer experience.


3. Address Customer's Objections

Once you've determined the customer's needs and answered their questions, the next step is to address any objections that they may have. Some customers will be hesitant to move forward with a purchase, and it's your job to convince them that your company is the right choice.

4. Ask for the Customer's Business

Your lead conversion script should be able to close the sale by asking for the customer's business and explaining the process. If you've done a good job of addressing their needs, convincing them that your company is the right choice, answering their questions, and dealing with any objections they may have, then they'll be more likely to move forward with you.

3 Types of Mortgage Lead Conversion Scripts for Mortgage Loan Officers and Brokers

I. First contact for a new mortgage lead

This is the script that you would use when reaching out to a new lead for the first time. It should introduce you and your company, explain what you do, and try to build rapport with the lead. Here are some tips on what to include in your script:

  • Be friendly and personable
  • Keep it short
  • Include information about your company
  • Explain how you can help the lead - let the customer know exactly how your services can benefit them, and try to build some momentum right away by asking if they have any questions or concerns.

First Contact Script Examples:

"Hi, _______! My name is _____, and I'm a loan officer with _______ Mortgage Company. How are you doing today? I wanted to introduce myself and see if there are any questions I might be able to answer for you. Our company’s mission is to make the home buying process easy. Below are some links that may help you on your journey.”
"Hi [fname],

I understand that you may be looking for a mortgage or refinancing services. Before we go any further, I'd like to find out a bit more about your needs and goals. Can you tell me a bit more about what you're looking for?"

With both of these script examples you can link to your company's “about us” page, FAQs, listings, etc…Best sure to include your contact information in your signature.

II. Follow Up on a Mortgage Lead

When following up with a new lead, you'll need to tailor your mortgage lead conversion scripts depending on whether the customer is actually interested in pursuing the purchase or not. Here are some tips for what to include in your follow-ups:

-- Inform the potential customer about any research you’ve done on their behalf

-- Identify and address your customer's biggest concerns

-- Focus on building trust

-- Make an offer to help them along and/or ask for their business

Follow Up Examples:

"Hi, _______! It's _____ again from _______ Mortgage Company. I've been thinking about you and doing some research on your needs. Based on what I've found, I think we may be able to help you save a significant amount of money on your mortgage payments. Can we schedule a time to talk further about your needs and goals?"
"Hi, _______! It's _____ from _______ Mortgage Company again. We've been discussing your mortgage purchase needs, and I wanted to follow up with you to see if you have any questions or concerns about the process. Please let me know if there's anything I can help you with!"

With both of these script examples, it’s again a good idea to include helpful links and contact information to reach you directly.

III. Responding to a Request for Information

When a customer asks for more information about your products or services, it's important to be responsive and give them the information that they need. Here are some tips for what you should include in your script:

  • Thank them for reaching out
  • Keep it brief
  • Be friendly and personable
  • Include links or attachments answering their questions and providing relevant information (Pro tip: Don’t attach anything as this can cause your email to get flagged as spam. Instead, give them a link that they can go directly to and download relevant attachments.)
  • Make an offer/ask for their business

Information Response Examples:

>"Hi, _______! Thank you for reaching out to us about our mortgage services. I'm happy to provide more information about the process - please let me know if there's anything else I can help you with! Below are relevant links for applying for a mortgage, frequently asked questions, and additional information that may help you in your home buying journey.”
"Hello, _______! It's great to hear from you. Our mortgage products are designed to help save you money on your monthly payments. I've included some additional information about our services in the link below.

Once you've had a chance to look through it, please let me know if you have any questions or if you're ready to start the process!"

When potential customers reach out to you for more information about your products or services, it's important to be responsive and provide them with the information that they need.

By following these tips, you can ensure that you deliver the right information in a friendly and personable manner. Be sure to make an offer and ask for their business once you've provided them with the information that they need. And, if you would like help automating your mortgage lead conversion scripts, check out Agent Legend. We help real estate agents and mortgage brokers just like you to get more done in less time and without losing the personal touch your clients demand. Click here to start a free no-obligation trial today.


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