Jarred Talmage, western sales manager for Simple Reverse Lending, the reverse mortgage division of Click n’ Close, Inc., based in Addison, Texas, says he describes some of the most effective messaging formats for reverse mortgage products. After discussing his observations, he said: We discuss key lessons learned from the pandemic and how his time as an originator has played a key role towards the ever-important topic of reverse his mortgage product education.
This is according to the conversation featured in the latest episode of the RMD Podcast available now. Talmadge, who relatively recently entered the realm of his mortgages at Rivers, also talked about how the pandemic has become a pivotal event to bolster the industry’s agility.
How Originator Experience Has Proved Vital
When asked about how origination experiences proved important in informing his educational endeavors in the industry, Talmadge said for the foundation they helped provide , explained that those experiences were the “key”.
“I started in 2019 as the originator of Reverse Field,” he says. “And then, of course, six months later, COVID hit. And suddenly we were taken out of that position where we could actually sit across from each other and have a conversation with people. It’s been invaluable to me to be able to have a conversation with them because I can really see what they’ve been missing.”
The loss of the ability to directly determine people’s needs had to evolve with the realities of the pandemic, but such possibilities have not completely diminished.
“When you get into this industry, you know nothing,” he says. “And you have to learn it from day one. [take time to understand] How it works because it sounds too good to be true. […] As an originator, I started with a simple question. I’ll explain what happens and what doesn’t. ”
The ability to extract information is essential for originators, Talmadge believes, and an essential prerequisite for entering the reverse mortgage business.
“People who want to be in this business have to be born at some point because that’s the key to where it all started,” he said. “If you can’t sit down with the client, explain everything in a way the client can understand. That changes the whole conversation for the client, not just the loan officer. And then it happened.” That’s when the magic happens.”
Industry adjustments to COVID-19
As an industry entrant in the immediate aftermath of the pandemic, Talmadge has seen first-hand how the industry was forced to react and evolve in a short period of time.
“I think Covid-19 put me in a position where I had to educate my clients because I couldn’t sit face-to-face with them,” he said. “Everything changed because I needed a backup and a backup. [realize that] We couldn’t rely on sitting in front of the kitchen table. ”
Thoroughly answering questions and concerns can help increase your chances of winning a new borrower, says Talmadge. This means that despite the investment the industry has made and continues to make in education, much more is needed to emulate its exhaustive approach. He also needs to understand that there is a lot of new business among industry professionals.
“As an industry, we need to educate our clients more because they can escape the thought process that if we take out a loan, we will borrow from someone else,” he says. . “We need to educate our clients that this is beneficial. [them]it is beneficial [their] family. I am a moneylender. I’m obviously doing this for the money, it benefits us too. But in the long run it has to be about the client. And COVID has led people to explain how it works in ways they may or may not have expressed it before. ”
Check back soon for more details on our discussion with Jarred Talmadge, or listen to the full conversation on the RMD Podcast.
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