A recent report from Reverse Mortgage Daily revealed what the top three traits for selling reverse mortgage are as decided by originators in the industry. The findings were derived from a panel discussion at the National Reverse Mortgage Lenders Association Annual Meeting in Nashville last month.
The top three areas included, confidence in your job and the product that you are selling, the power of honesty and the strength of branding, according to the RMD report.
"An affinity for the reverse mortgage product – and even a fondness for the term 'reverse mortgage' – has been very helpful in fueling the business of Ken Krajewski, Managing Director and Head of Reverse Mortgage Lending at CIBC Bank USA, Rochester, Mich.," according to the report.
"'I’m really proud to tell people about what I do,' Krajewski says. 'I don’t dislike the name, and I like doing this job so that I can immediately respond to snarky comments and begin dispelling any negative perspectives on the product.'”
Meanwhile, originators also believe that all of the possibilities, both good and bad, should be addressed when selling reverse mortgages.
To read more about what the panel had to say, click on the image above.