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Serious question, does anybody else write their rate proposals differently after a meeting at a coffee shop?
I was at The Daily Grind downtown last Tuesday when a loan officer I barely know started explaining how he breaks down APR comparisons side by side instead of just listing the rates... he showed me his template on his laptop and it just clicked why some clients stall. Has anyone else had a random conversation that totally changed their refi pitch?
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wesley6395d agoMost Upvoted
rowanr88 is right on with that. Side by side comparisons just make it obvious what you're actually paying. I had that same kind of random lightbulb moment a few months back at a deli. A real estate agent was ranting about how she prints out a one page summary with the total monthly payment in big bold font and the rate stuff in small print below. Tried it on my next proposal and the guy signed in ten minutes, no follow up questions. Clients don't want to do math, they want to see the number that hits their bank account. Makes the whole process feel simpler for everyone involved.
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cora8135d ago
That's actually a really good point about the side by side comparison. Here's something I've noticed that nobody seems to talk about. People get overwhelmed by too many numbers at once, especially when you're throwing out APR and points and closing costs all in the same breath. The coffee shop guy might have been onto something with the visual lay out part. I've started writing my proposals with the big picture stuff first, like what their monthly payment actually looks like, and then I shove the rate breakdown into a seperate page. It sounds backward but clients seem less stressed when they see the total cost first. Makes sense if you think about it, we all check the price tag before we check the fine print.
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