WHAT IS YOUR SALES PLAN?

CONSULTATIVE SALES Build rapport and ask about needs First and foremost, focus on the borrowers individual needs and situation not bank policy & rate. Find out what they value most. This is something that the customer will get excited. This is what will sell your deal. If you know what they want, you can give it to them. Be confident in yourself and your knowledge of what solution will work for the customer. Find out what they really want and sell that to them. Ask open-ended questions to help build rapport, control the call, get the borrower talking, and open the door for the borrower to tell you how to sell them. Use words like: Why, What, How, When, Who, Where, Tell me, Describe how, Explain what What plans do you have for the money from the Home Equity Line of Credit? How will you be using the money you want to borrow? Tell me the main financial goal that youd like to accomplish with this line/loan. How soon are you planning on starting your home improvements? What are you basing the value of your home on? What type of outcome were you hoping to achieve by taking out this loan/line? Demonstrate genuine concern for the borrowers best interest and show you are here to help by eliciting genuine conversation. Personalize the conversation to the borrowers personality through your tone, speed of speech, etc. Ask clarifying questions and listen carefully to build rapport and show you are listening. Know product features and benefits so that you can personalize the benefits and make changes as necessary. Get the borrower involved so that they are giving verbal positive responses to your deal. Listen carefully to what the borrower reveals and look for the clues (they usually lead to the objection). Identify hidden opportunities based on borrower clues to their true needs (ex: if they say debt, it might indicate that they are struggling with their current monthly payment). Ask for and overcome concerns throughout the conversation (not just at the end). Ask the borrower about future borrowing needs. Show confidence when providing the right solution. Answer every call as if this is your only call of the day. Have an energetic & professional tone of voice. Use the borrowers name throughout the conversation. Build excitement. When you smile, customers can hear it in your voice.

Use proper procedures for placing borrower on hold. Use Please & Thank You. Give clear and specific explanations. Take ownership and resolve problems.

PHONE ETIQUETTE LISTEN You cant talk and listen at the same time Spend 80% of your time listening to the borrower Ask your borrower the right questions Listen for buying clues they will tell you how to sell them Listen for any unforeseen needs Listen carefully for any potential objections PARAPHRASE This helps check for clarity validate you understood them Shows the borrower that you have been listening Helps the borrower hear their thoughts repeated back to them Allows you to steer the conversation and take control OVERTONES Feel what the borrower is saying Empathize with the borrower. I can appreciate what youre saying. Put yourself in the borrowers situation Listen for buying clues they will tell you how to sell them Listen for potential objections BARRIERS TO LISTENING Noise Interruptions Daydreaming Technology (Cell phone, surfing the net) Stereo Types (Elderly, stuttering, accents) Trigger words ($5,000 loan amount, mobile home, bad credit, Texas) Autopilot Attitude. Your attitude affects everything! CONVEYANCE Suggest solutions, identify concerns, and close on the objective START EVERY CONVEYANCE WITH A TRANSITIONAL STATEMENT THAT LINKS YOUR OFFER DIRECTLY TO THE CUSTOMERS PURPOSE I have great news or Congratulations! It looks like we are going to be able to save you $___ monthly by paying off those high balance credit cards! We can go ahead and pay off those debts to get you one easy monthly payment and youll be saving over $___ monthly! Based on the figures we spoke about previously, the $___ will more than cover your kitchen and bath remodels. In the future you can call us back and we can look into raising the limit on this line to give you additional funds.

Based on your needs that weve discussed, this loan/line will provide the (financial flexibility, peace of mind, low payment, funds for projects, etc.) that you are looking for. Our offer will save you $500 in monthly payments We can get your new pool started now so your family can enjoy it by summer. This offer will help you purchase your new car in the next 2 weeks at a very low monthly payment You are going to be able to take that vacation and start your remodeling project sooner than you thought Id like to show you a few ways this will improve your current financial situation. Lets go over an option (or two different options etc.) that will provide long term savings for you. Always be excited about the deal when you present it, even if it doesnt sound great to you. Get the borrower excited and emotionally involved, always going back to the fact that you are providing them with exactly what they want. Show how the products features provide real benefits to their life. Be specific about the benefits so they can visualize how much your offer will help them: use actual dollar amounts, direct application to the borrowers purpose, etc. Structure the offer so that the borrower gets exactly what they want, and add something else of value if possible (payment options, credit advice, fast/easy process such as no VOI, Fast Track POS, Quick Close, etc.) Look for cross-sell opportunities to offer the best rate, payment, and amount so that the borrower walks away with an impressive offer that will discourage them from shopping. For example, they might be adamant that they only want a $25k HELOC, but if you offer $50k at a lower rate, that might ultimately be the deciding factor. Pause and ask for confirmation that they like what you are presenting. Use a positive transitional statement when obtaining firm acceptance of your offer: How does that sound? Does this offer sound like it will meet your needs? Will that meet your needs? How does this line of credit sound to you so far? Would you like to move forward with this offer? Would you like to get the process started? It sounds like youre feeling good about this. The next step is Can we get this started for you? How would you feel if I told you that you can save money (quote total amount saved) by consolidating all of your loans into this one product?" How do you feel about this Home Improvement Loan? How do you feel about having your money within two weeks so you can move forward with your project?

 How do you feel about enhancing your financial well-being by opening up this Home Equity Line of Credit? How would you feel if we opened a new Chase checking account and transferred funds to make your loan payments automatically? What Are the Benefits to Your Deal? How is Chase Better Then the Competition? Personalized service: ALWAYS personalize the benefits to your borrowers individual situation. Competitive interest rates: educate the customer if necessary by telling them what the prime rate is, and explaining how our offer is very competitive. Monthly savings: provide the specific dollar amount you are saving them. Flexible payment options: any term 12-358 months (or max term for mod), principle and interest, IO, fixed-rate locks. Interest only payments: smaller payments with the option to pay more Fixed rate options: (HELOAN or lock on a HELOC): rate stays the same, can budget monthly, stability, peace of mind, financial security, can lock at close or any time in the future, waive annual fee if lock is for at least $25k at close, any term 12-358 months (or max term for mod), 5 locks at any time. Fast processing (10-14 days, 3-7 days for POS/Quick Close). Modifications: future availability at no cost for additional funds or for better rate as home appreciates/credit improves/mortgage is paid down/income increases. Flexibility: availability of funds to use or not use, established for 10 years so no need to reapply, security in the event of future opportunities or emergencies. Convenience: telephone banking, online banking, branches if in footprint. No closing costs: no fees to process, Chase will pay state mortgage taxes. Chase Payment Assurance will offer peace of mind and protection at a minimal cost to the borrower. Most borrowers are underinsured. Reputation: Chase is a reputable bank, one of the top lenders in the country. With everything that is going on in the mortgage industry right now a customer can feel secure doing business with Chase and knowing that the loan will not get sold to another lender. OBJECTIONS What is an Objection? A question, concern, hesitation, the way a borrower tells that us that we havent established value in our solution and they dont want to proceed. An objection is an opportunity to find out how we can sell the deal. If you know what their objection is, you can sell to that. This is your chance to talk up the benefits of your offer. Why do Objections Occur? We dont really understand the borrowers true need or financial goal. We overwhelmed them with too much technical information up front. We are talking too much and listening too little. We may ask the right questions but were on autopilot so the conversation is forced instead of natural and genuine.

We dont respond to the borrower clues that trigger concerns throughout the call. Were selling the features of the product instead of the benefits to the customer. We havent shown them the personal benefits of choosing our product and how it meets their needs. We didnt remove the fear of making a wrong decision.

How do we Overcome Objections? When the borrower seems hesitant, probe and BE DIRECT to find out the true reason or concern so you can address it. Ask open-ended questions to clarify the concern (Why, What, How, When, Who, Where, Tell me, Describe how, Explain what) Acknowledge and show appreciation for the borrowers objections. Show empathy, agree, and give verbal cues to show you are interested. Provide friendly, caring service. Show flexibility in adapting offer to borrowers needs once new objections are raised. Sell to what the borrower wants. For example, if the monthly payment is suddenly the objection, offer a longer term or an interest-only payment. Explain how your offer helps them achieve their needs and goals. Show the borrower how Chase is the best fit for their lifestyle. Examples of Possible Responses to Objections: General Objection Questions Do you find that this product has some restrictions that concern you? What will you base your final decision on? What is it that concerns you about this offer? What concerns do you have regarding the financial plan I just described to you? What other options have you considered for consolidating the accounts? What will happen if you dont take the Home Equity Loan to cover your vacation expenses we discussed? Where will you get emergency money if you do not apply for this Home Equity Line of Credit? What questions do you have about the Chase Line of Credit we are talking about? Would you feel more comfortable with a stable, fixed rate? Are you comfortable with the products features and benefits? The rate is too high. How does the rate compare to the rates youre currently paying on your credit cards? Our rates are priced competitively with other lenders. The prime rate, which affects home equity rates, is currently at ___% We also offer a Chase Best Rate discount, which gives an additional .25% off, and is available for only $399 Borrowers can save .25% with auto-debit on HELOANS

Rate is not the only factor when making a decision, there are several variables to consider including fees, payment options, service, speed, security, and flexibility. I need to talk to my spouse. I understand that you want to make a mutual decision If your husband/wife is available, I would be happy to speak with them and answer their questions. Since your husband/wife is not available, when would be a good time for me to call back and answer any questions they might have? We do have the option of conferencing your husband/wife in on this line and talking through the options. What questions or concerns do you think your husband/wife might have? Will your husband/wife really have an objection to you saving money? I dont want to apply. Im just shopping for rates. It is definitely a good idea to research rates today. Chase offers great competitive rates as well as a wide variety of options to fit your needs. I can easily tell you what rate I can qualify you for by completing a short application. This will provide you the benefit of knowing the true rate we can offer. Why cant you just give me a rate? Home equity rates are based on several factors, most of which do require a credit application in order to determine. I got this flyer. What is this all about? Thank you for calling us about the offer. It is an invitation to apply for a home equity loan or line of credit. I dont want to have a Pre-Payment fee. If planning to sell home within 3 years: You can add $400 to the sales price of the home in order to recoup this cost. I have a better offer from a competitor. Lets analyze the two offers side by side to see which one makes the most sense for you. Compare APR, fees, payment, lock options, modification, processing time, etc. Verify that the applicant has submitted an application and has a firm offer. I dont want to pay the 1% rate adder for my rental property. Other banks charge closing costs on rental homes HELOC is still a great way to tap into the equity that is available in the investment property. Im not ready yet I want to think about it. I understand that you want to ensure youre making the best decision, tell me what concerns you have about this solution. I just wanted to get some information. What are you still looking for that you havent heard from Chase? Thats not enough of a savings. I will wait until the rates go down. It is understandable that you want to make a careful decision. One of the benefits of a home equity is that you can start saving money today with our low rate, and then if rates go down even more in the future you can call me back and process a modification at no cost to you to get that lower rate. In the meantime, you will already start saving every month.

I dont want my credit pulled. What are your concerns? One inquiry on your file will not usually change your credit score. I dont want to apply just yet How long will this take? I dont have the time right now. Im driving- can I call you back later? Im at work- I really cant do this right now. Our process is quick - -only takes about 10-15 minutes. And then I can tell you exactly how we can help you. Im not sure I want this. I need to think about it. Can I schedule a time to follow-up with you. I dont have any of that information available right now. The application is pretty simple. We can get started with just your social security number. I dont want to pay an annual fee. If you lock in $25,000 we can waive the annual fee. The Words We Use Affect Our Ability to Sell Instead of: Try: Money Saving Low Cost Affordable You can save because Eliminates costly _____ Easy In no time at all Safe and simple All you do is One touch and it ___ the easy way Within minutes Convenient All in one place Fast, easy access at your convenience In your own home Push-button convenience You wont have to shop around Experienced / Expert Qualified Professional Skilled Capable Security / Peace of Mind Your defense against Protects you against Rely/depend/count on Puts your mind at ease Enhancing Image Our dedication to Who you buy from can be just as important as what you buy. We take great pride in 7

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Transitions

Moment of Decision

Follow Through I need your You have to I cant We dont do that here If you would let me finish I dont have that information. Whats your name? You need to I guarantee you We dont Gotcha. Its our policy. Maam / Sir We require You must My supervisor said No. Thats not what I said. I said You gave me the wrong You shouldnt ... Do you understand? You cant

We offer the added advantage of Assists you Thats why we give you The answer to your ___ needs Our job is to help you We make it easier for you to We offer a full range of Best of all If you prefer These are just a few of the To show you what we mean Fortunately Most important Now theres an even better way Youll also be glad to know Interested? Dont wait any longer! Now its time for you to decide. Its up to you. Thank you for your interest in You couldnt have picked a better time to ask us about May I please have your You will want to _____ can help you with that. _____ can be taken care of by _____ Dont say anything! Let the borrower finish. That information can be found by Lets start with your name? If you would please I can assure you _____ can I understand. The way we handle this is Use their name We ask that We suggest After researching this, I have found Let me explain that another way Could I please verify that ( xyz) again? You may want to try Did I explain that clearly? I want to make sure I understand you What if you instead?

I cant help you with that. Thanks.

Id be glad to get someone who can help us answer that. We appreciate your business.

Words to Use
Assure Can Concern Convenient Cost-Effective Easy Economical Excellent Explain Flexible Growth Independent Informed Knowledgeable Limited Time Now Peace of Mind Personalized Professional Recommend Safe Save Special Stable Time-savings Trustworthy Understand Up-to-Date Will