There are two basic approaches to selling Mortgage Insurance. If you want to sell mortgage insurance the easy way, then you must understand why the traditional approach to selling mortgage insurance isn’t working for 90% of the insurance agents today.
The first approach is the ‘Old Fashioned’ way most trainers, recruiters, and managers teach their agents. They want you to believe that selling mortgage insurance is just a numbers game. They’ll tell you that everyone who owns a home needs mortgage insurance. So, if you talk to enough people, and you have a competitively priced product, you’ll make the sales you need for a great living. Their approach is based on the principle of 10-3-1! If you call ten (10) qualified mortgage sales leads, you’ll set three (3) sales appointments, and you’ll close one (1) sale.
The problem with that ‘outdated’ logic is that if you want to earn a minimum of $50,000 per year you’ll need a minimum of thirty (30) qualified sales leads per week, to schedule nine (9) sales appointments, and close three (3) sales per week. And, that doesn’t allow for any canceled appointments, not-taken policies, declined applications, lapsed policies, etc. Read More