Communicating Alt-Financing Options
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October 25, 2022 |
Communicating Alt-Financing Options
How do you communicate alternative financing options to your client so they will have clear expectations?
You’re putting your client’s application together and as you expected they need alternative financing.
How do you communicate alternative financing options to your client so they will have clear expectations?
Here are some tips:
1. Start the conversation by asking questions
In order to learn about your client's needs and future financial plans, you may start the conversation by asking questions. That way, you are also building rapport by showing genuine interest in their stories.
2. Come up with a clear plan
As soon as you learn about their needs, you may come up with a clear and well-thought-out plan tailored to your client's situation. If your client’s goal is to obtain ‘A’ financing, you may list out the milestones they need to achieve over time so they know exactly what their responsibilities are.
3. Explain how your plan will work
You may explain how alternative financing is a temporary solution to their issues and how the plan helps them transition to ‘A’ financing in the future.
Suppose you are considering an interest-only payment option for your client, which matches low-hassle funding conditions. In that case, you may calculate and compare the monthly payments and get your client to understand the pros and cons.
Curious to learn more? Check our previous blog posts!
Managing Your Client's Expectations
Why a clear plan can make all the difference in alt-lending
How should brokers educate clients on alternative solutions?
Author Profile
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Marketing Manager at Neighbourhood Holdings |
Jessica Yang is the Marketing Manager at Neighbourhood Holdings, where she leads marketing campaigns and content strategy. As a UBC Media Studies graduate, Jessica also completed BrainStation’s Digital Marketing Program and became a BCFSA-licensed mortgage broker.
Beyond her professional pursuits, Jessica enjoys travelling and documenting her experiences through vlogging, finding inspiration in exploring new cultures and sharing her journey with others.