E&H POLICY
April 25th, 2022
EXPANDING THE PI’S PORTFOLIO
Every step in the hat leads up to this point, executing all the previous steps properly will increase the possibility of successfully closing PIs on expanding their portfolio. Keeping the PIs satisfied with the E&H product, actively listening to their communications, handling their originations, making sure that the E&H product is delivered according to what was promised, having enough rapport and knowing when to prompt the PI to reinvest; each of these are just as important as every other to get a sale.
Your biggest enemy is excessive proposing of expansion; the second worst enemy is the lack of proposing of expansion. Trying to talk to someone past their willingness to talk to you creates friction, the same thing applies to sales; where if you just keep on pushing a sale, eventually the prospect will distance themselves from you. The last thing you want as a PISC is a PI that will refuse to talk to you. The consequence is that when they do reach out it will be because they are unhappy and unwilling to invest further.
On the other hand if you never prompt a PI to increase their portfolio you risk the following scenario: they might have the financial possibility to expand but another opportunity is presented to them and they end up taking that opportunity because you were not also present in their mind.
Here is where rapport plays a huge role, if you are able to communicate with someone on the same level, both of you will know what the other one needs and wants, this makes the interaction flow naturally. If a friend were to ask you to do something for them, it is likely that you will assist or at least consider their proposal. If someone you barely know asks something of you, chances are that you will give less weight to what is being proposed.
Just as important as building rapport, is making sure that whatever you say will happen, DOES happen. Make sure it has already happened or is completely set-up to happen; that way there is no chance that your promise will not be fulfilled and this ensures the relationship will keep on growing instead of deteriorating.
If the previous steps have been completed, then you should have real knowledge of when each investor is willing to put forth more money to invest. In other cases, you will know how much money they have on hand. This added up with their escrow funds can complete the necessary money for another home to be added to their portfolio.
In other cases, there might be unexpected lump sums of money that the PI will receive. If you are well attuned and have enough rapport, then you can effortlessly guide them to expanding their portfolio. If this is a surprise to you and/or you have not earned the right to ask for that money, then your chances of getting it are significantly lower.
The goal is to increase your odds of the PI naturally wanting to invest more in E&H instead of having to apply sales tactics to close him. Constantly using sales tactics will most likely ensure that the PI will be unhappy afterwards because their needs and wants were not met before reinvesting.
Suggested & Edited by
BERGER CORVAIA
VP of Sales & Marketing
Written by
Frank Vedder
Director of Personnel Enhancement
Founder
IA EVKJ-GS17-60FK
IVAN ANZ
FOUNDER E&H INC.
IA: W7UF-KL98-5TU3-0SBT