Managing Expectations

Watch the Full Video Here: Managing Expectations

00:00:00:03 - 00:00:00:22

Oh, wait, wait, wait.

00:00:03:22 - 00:00:20:08

All right, guys. Nikki and I were scuttling this a little bit last night. So the one thing I do want to talk about this morning is managing our clients expectations. Um, what do you guys think mean by that as far as when it comes to the presentation?

00:00:29:12 - 00:00:32:09

And I'll take any anybody's response for that.

00:00:41:18 - 00:00:43:07

Get their families protected.

00:00:46:02 - 00:00:56:18

Somewhat. But like when we're managing their expectations, like what are we trying to do to make sure that they're not. Delusional about what they can get.

00:01:00:16 - 00:01:18:01

So this is this is a hard topic to discuss, but it's it's super important. So I'll go into what I mean by it. So let's say somebody says, Oh yeah, how much for the 200,000 and they are 75 years old. What what would be a good response?

00:01:20:12 - 00:01:30:08

Most people are just trying to take care of their burial expenses. They're not trying to make their families rich. And that's good. And it's also.

00:01:33:06 - 00:01:37:01

They're not going to get that much coverage. I mean that. Yeah.

00:01:39:13 - 00:02:14:03

And that would be good because yeah, like actually telling somebody like that, that's an expectation that can't be met. So there's no reason to be like, Oh yeah, we can see what we can do. That's, that's not managing expectations. That's the same thing. I heard it a couple of times yesterday where somebody would hang up on somebody because they did not like the price of, you know, compared to the policy they already have. So I hear a lot, you know, it's like, oh, you know, already have a policy for 10,000 somebody, you know, I've heard agents on this phone on this call say things like, Oh, yeah, I'm sure we can beat that like immediately.

00:02:14:10 - 00:02:45:09

And it's like, that is not managing expectations because how do you know? It's like if they've had something for ten years, you're not going to beat it. So when you whenever you like, let's go. Based on like what happens normally. Oh, I already have coverage. Okay, great. You know, in the presentation, is that something you've had for a while or is that something you just set up? If they say they've had it for a while, it is now time to manage their expectations by saying something like, okay, is this just for additional coverage? Uh, yeah, just additional.

00:02:45:12 - 00:02:56:11

Okay. And how long have you had the other policy? Oh, 15 years. And what would be something good to say to them before you even present like that? You know, they've had this policy for 15 years.

00:02:58:01 - 00:03:06:22

We probably aren't going to be able to beat it, but we could probably if you're looking to add some coverage, you might be able to get some benefits that you're not getting with that other policy.

00:03:08:07 - 00:03:42:00

That's. Yep. So Vicki's on fire. She knows what's going on. So essentially, you have to say something like that. Like, you cannot just ignore that. Because if it's $50 for 10,000, you know, they're now ten years older and, you know, preferred is $88 for 10,000. You don't want to give them the impression that you're going to try to replace it, beat it, anything like that. So that's why I say, like whenever they say I have covers, I've had it for years, it's it's all about the you need to compliment them and then move past it.

00:03:42:05 - 00:04:12:13

All right. Well, that's very good. I'm glad you had that already set up. That was ten years ago. So whatever we discussed, you know, going forward, obviously shouldn't beat that price. But I understand that we're looking for another 10,000, so we'll do the best that we possibly can. So that's an expectation. You do not want to ever say, Oh, I got it for this. And you know, you don't want to tell him you can beat something, you know you can't or that you just don't know you can. And the same thing with like their term coverage or basically anything.

00:04:12:16 - 00:04:41:10

It's like and if they start saying, Oh, I want no, I saw 100,000 for ten bucks a month. You need to address that immediately, though. That's not going to be that price. And if they still are giving you pushback, just get off the phone like some people just do not deserve a full presentation from us. Like, can anybody give me some examples where they they know that they probably shouldn't have kept going, but they kept going. Now they're at the end and they know there's no way to make the sale.

00:04:43:23 - 00:04:44:16

Blanca.

00:04:46:13 - 00:04:48:03

Blanca. Okay. What happened with Blanca?

00:04:50:12 - 00:04:53:05

She was that one lady from California.

00:04:55:08 - 00:05:04:02

What I hear a lot is people. They'll continue to keep going once they hear the person's not working or something and they'll just continue to keep going.

00:05:05:02 - 00:05:05:17

Yeah.

00:05:05:23 - 00:05:22:18

I mean, that's another expectation. I mean, you have to have money to pay for this. So talking about. Oh yeah, yeah. Well everybody's on fixed incomes, but if they're working in 51 then they're not really on a fixed income. They're on an income of zero because they just don't have a job.

00:05:23:04 - 00:05:37:16

Right. Like you get the ones, they're like, Oh, I'm waiting on my disability, you know? So it's like, okay, when is your disability going to come in? Because you know, or like, how are you paying? How are you surviving right now? I was like one of my first questions I asked them, you know.

00:05:38:11 - 00:06:10:05

So another one is like the looky loos, the people who are just looking. And, you know, I've gotten better at explaining like, Oh, well, I'm a consultant. You know, I actually do the shopping for you. So, you know, a good job. You don't have to go through that burden anymore of, you know, kind of, you know, looking at something that you don't really fully understand. So, you know, just something along the lines of that. But then they're just like, you know, as Jordan Belfort put it, they're looky loos, they're just looking. And then you can get them all the way through a sales presentation. And then they're like, oh, you know, I'm going to keep shopping. Even after you've explained that like I'm shopping for you.

00:06:10:07 - 00:06:20:15

Like, that's what we're doing today. This is the best thing you're going to qualify for with your health And like, this is it, Um, you know, usually I can tell, uh, like, I got a couple.

00:06:22:06 - 00:06:54:17

Or Tuesday this week. The first thing they ask is, okay, what's this about? Oh, it's your final expense. Life insurance. You wanted some more information about, then go through like a consultant firm. They're like, Oh, okay. How much is that going to cost? Typically, um, I can kind of get a feel for how they say it. If they're just like curious, then, you know, go through like health screening. And then I think one of my sales last week was that actually, you know, one of their first questions was that price. But then, you know, there'll be some people who are more aggressive.

00:06:55:02 - 00:07:25:01

Um, typically the males I've noticed, um, and they just are like, okay, how much is this going to cost me? And they're just like rude from the get go. They want to know how much it is and they don't want to go through the health screening and they just want like an average price. So at first, my first week, I was just being like, Oh, it's going to okay, well, you're how old, you know, assuming you're in decent health. And then I would just give them a price and then they would hang up the phone. So I've stopped going, you know, skipping through the entire script and health screening because I know they're just looking. It's a waste of my time.

00:07:25:21 - 00:07:48:08

Yeah. You'll never make a sale by giving somebody a quote immediately and then assuming anything as far as, you know, assumptions a big deal. Want that throughout the rest of it. But we're not going to assume somebody's in good health or tell them anything because that's another expectation. Like, oh, you have you told me it was this well, you didn't tell me your health is completely, you know, jacked up. So sorry.

00:07:49:09 - 00:07:57:11

What do you do? Like if you try to. Like you try to go through the presentation, but all they care about is hearing the price.

00:07:58:08 - 00:08:21:05

Oh, hang on. You just have to. Yeah. That. Or, you know, you could do that. Or some of them will, you know, they'll be a little bit impatient. And you could just tell them, Hey, look, I'd love to just go ahead and go over the plans with you right now, but my job as benefits coordinator, this is the process, you know, and just blame it on sales. You could tell them that this is a sales process, you know, but you don't want to spend too much time on those.

00:08:22:01 - 00:09:05:02

No. And then but Wesley to be mean hang up is actually something would do. But the first thing you want to say is, okay, have you have you already looked into this a bit? Because I want to hear what they say. That's another expectations. Like if they say, Oh yeah, I've looked and all the prices are too high, if if they've looked and all the prices are too high, no matter who they talk to, then of course whatever you say later is going to be too high. So that's managing the expectation. So if they say, Oh, all the prices are too high, it's like, oh, okay, what what kind of prices have you gotten? And then if they say prices like that are going to be very similar to what it should cost them, then of course, like, yeah, that's about what it costs.

00:09:05:06 - 00:09:36:16

Is that something that's comfortable for you? And like, Oh, no, I wanted it to be this. So, I mean, you can see how it's easy to get off the phone there. Because if they're if they're if they're like, oh, the price is all the prices are too high, I'm getting it. They all want this. Oh, okay. Well, that's that's pretty much across the board about what it's going to be. I have more companies, so I can probably save you some money and get you better benefits. But that's that's really what it's going to be. And then, you know, Oh, well, I can't afford that.

00:09:36:18 - 00:09:43:17

Okay. Well, you know, thank you for at least being honest with me. And I realized that I don't want to waste your time, and I definitely am not going to waste my.

00:09:46:20 - 00:10:10:14

Right. And yep. So people have these expectations and like, I'm glad you guys are all mentioning these things. Like if they want price and are very aggressive, first thing I'll say is like, Oh, how much is it? If they're aggressive, it's $1 million for a buck a month. You in. And the reason I'm saying something like that is I got to get them off that. Like if they stick, if they're sticking to their guns and only want the price, then I am done with them.

00:10:12:06 - 00:10:18:17

Does anybody in. Anybody that thinks that's wrong or would do something different.

00:10:18:20 - 00:10:33:06

No, I agree 100%, because you have to build some type of report. So if you can get that person that's telling you, I just want the price of the plan. I just want the price of the plan. If you can get them just a chuckle a little bit or something, that could change the whole conversation too.

00:10:35:04 - 00:10:50:09

Yeah. And then it's just good to ask those questions because it's all about the expectations. If I ask those questions, then they start telling me, Oh, they want this box. It's like, Oh, you know, I'm 82. I can't afford that. And it's like, you mean you can get them off a little bit, but you need to the expert. How do you.

00:10:51:12 - 00:10:52:23

How do you do that on my bed?

00:10:53:16 - 00:11:24:14

Well, the expectation going forward has to be, yes, it's going to be expensive because otherwise what's the point? Like you could waste 25 minutes talking about health, trying to build more rapport and then just at the end, it's like, oh, yeah, it's kind of set. At the beginning, I couldn't afford that. And people say that, you know, can't afford anything right now. That's probably not the person like they're telling you right up front. It's probably not the person that you want to keep going with. You probably want to say something like, well, yeah, most plans are between like 50 and $150.

00:11:24:16 - 00:11:33:24

Would that be in your budget? No. Can't afford anything. Okay, well, you just save yourself a ton of time by not presenting that person. And go. Go ahead. Uh.

00:11:34:11 - 00:11:43:02

Um. How do you do the million for a buck a month thing? Because, like, whenever I do it, I think I come across as, like, too serious. They're like, really? Like. Like.

00:11:45:04 - 00:11:47:14

Like, what's like the right tone for that?

00:11:48:18 - 00:11:58:04

I mean, would just be like, Yeah, it's about a buck per million dollars worth of covers that sound pretty good and like, and then they should be like, they should understand. I

00:12:00:15 - 00:12:06:18

mean, if they really take you seriously, then say, Oh, I'm just kidding. But yeah, mean do want to find the best plan for you then just keep moving forward.

00:12:07:21 - 00:12:08:12

Okay.

00:12:08:23 - 00:12:15:22

Cool. Yeah. You mean if they're not going to laugh, then you need to just tell them. Obviously that's a joke, but yeah, do want to find the best plan for you. So

00:12:18:10 - 00:12:23:04

sometimes you do have to tell people you're joking because they're not. Most of my jokes don't land either.

00:12:24:17 - 00:12:56:23

I was going to I was going to say something for Camden to like. When you get to the end of the call, like if you built enough report with your client and they're like just saying, Hey, I'm just looking or just anyone, you know, definitely use that permission of fire. Because if you built enough report with the client and you spent like. A good 40 minutes of your time on the phone. It's always a good idea to use that permission to fire just because sometimes they just need like, they just need somebody to sternly say, like, you know, to say it.

00:12:57:07 - 00:12:59:07

Yeah, yeah. Completely agree, Nikki.

00:12:59:09 - 00:13:03:19

Like, hey, how many times are we going to keep looking? You know, like, let me just talk to you, like, you know, so.

00:13:03:21 - 00:13:39:13

Yeah, that's what I did for my client on Saturday when I came in through my, like, little Gerber one on the weekend. She, you know, it was a webcast. So she called in, you know, got her all the way through. She understood that, you know, I was a consultant for about 16 different companies. And, you know, we got to pricing and plans. And, you know, I was sweating a little and like, you know, don't really, you know, this this is going to be a hard sell. I looped her about six, seven times on the plan. And I was like, what was her name? Dolores was like Dolores, you know, look, you know, I know you want this insurance.

00:13:39:15 - 00:14:11:19

This is the best you're going to get for your health. You know, like I was telling you, I'm the sales or I'm the insurance consultant, so this is what you qualify for, you know? So kind of what's holding you back today? She goes, oh, the the price. I just don't have the money today. Like, that's completely okay. And just kept looping her. Um, so I just like straight up said like what what's your issue today Because a lot of times I'm kind of passive and I'm like, okay, I'm sorry. And then just keep pushing when I don't really even know what the problem is to actually address it straight up.

00:14:12:20 - 00:14:16:19

Yep. You gotta you got to narrow down what the actual issue is. Yeah. Good.

00:14:17:04 - 00:14:18:17

Another expectation.

00:14:19:02 - 00:14:19:24

Yeah, Yeah.

00:14:20:01 - 00:14:54:04

And something else I was going to say is, you know, I was thinking about it the other day because when I get to like explaining term and whole life and I'll say, you know, term expires, so what's the point of having insurance if it's going to go or cancel before you go? I'll say like something about like if you get in a car crash next month, but your car insurance expires today, you know, that really hits a lot of people. And then I was thinking and I'm like, you know what? When people call every single other insurance that is available, no matter what it is, they just get quotes Like I called State Farm the other day because I wanted to see if they're going to beat my Geico quote.

00:14:54:06 - 00:15:31:09

They didn't, but I'm on the phone with him for like three minutes and I already have quote. And then I have to realize that with us it's different than everything else. So we're actually like explaining and teaching the client that we are like, this is not anything that they would do on a regular day. Like this isn't State Farm, this isn't Geico. This isn't getting homeowner's insurance where we can just get quotes like this is very specific to them. So understanding that has helped me a lot in keeping them on the phone and really just hearing me out on the health because a lot of people are, you know, hesitant to it.

00:15:31:11 - 00:15:40:23

But once they understand that this isn't like, you know, just some car insurance, then it's been working for me. And it just helped my understanding with all of it to.

00:15:41:24 - 00:16:18:19

Good. And it really is. It's about they have to understand that you're trying to help them, but you're not you don't you don't have time for a bunch of nonsense. And that we are experts if they understand you're an expert and a lot of people just haven't been explaining what is going on with life insurance. So if they're less confused, they're going to have a better opportunity to buy. And so I did tell Nikki last night, like I wanted to have this a little bit of dual training. So at the end, what I hear a lot like of people doing, like when they're dealing with objections they're doing, they're basically just doing too much.

00:16:19:16 - 00:16:31:12

Like they are reclaiming. And, you know, you know, backpedaling guy could pull some recordings and don't wanna embarrass anybody. But like they'll they'll answer the question and then they'll be like, oh and

00:16:34:00 - 00:16:39:09

anybody do that. Anybody done that before? Like just got all nervous and started talking too much.

00:16:40:05 - 00:16:41:07

Do that all the time.

00:16:41:16 - 00:16:42:13

I do too.

00:16:44:02 - 00:16:56:02

So when they give you a, like an objection, like, oh, don't like giving that out over the phone for social. What is actually a good response like the first time.

00:16:56:15 - 00:17:00:08

I understand me either. Please verify your full social.

00:17:01:00 - 00:17:19:24

Yes, much better then. Well, we're not going to do anything with it. It's just, you know, just then if you if you talk too much after the first response, something like that, you do sound like a scammer. It's like, Oh, okay, so that's going to be do this. And then like you don't need to give them a 16 like two.

00:17:20:04 - 00:17:52:01

You don't need to. You don't need to explain anything ahead of time. So you can they could say, Hey, Nikki, I don't want to give you my social. I understand. But we needed to verify your information and make sure you are who you are. Please verify your full social. And there could be like 30 seconds of silence, but I'm not going to say anything else after that. I'm not there going to say anything else. I'm going to wait and I'm just going to have my pen in my hand right by the social on the app, and I'm just going to wait for them to say it. And then once they say it, then I'll repeat it back to them.

00:17:52:03 - 00:18:01:18

One, two, three, four, five, six, seven, eight, nine. Okay, great. We participate in the Fair Credit Reporting Act. Notice all your information is protected by law. I'll go over that with you on the recording and then move on.

00:18:02:24 - 00:18:31:19

That's savage savagery. And we did not we did not talk this morning about how we handle it, but we handle it the same. Oh, and like if it's like, oh, it's banking or I don't like giving my banking all over the phone, well, I just need it for the application and then I just shut up. If I get more pushback, like the more pushback you get, that's when your responses might become a little more elaborate. But they should not be an elaborate, insane, rambling thing, like right after they say something.

00:18:33:08 - 00:18:57:10

I mean, you guys have those bottle sheets. Uh, like on the website. And, you know, those are really solid, but those are not. That would not be anybody's first thing. Like, well, the bank account. Oh, I don't like giving my bank account over the phone. Yeah, neither do I. But, you know, you have to give it for things like this. And as long as it sounds confident it's going to work like Nikki, Like how confident the Nikki sound there.

00:19:01:06 - 00:19:02:07

Crazy. She's the.

00:19:02:14 - 00:19:03:11

Only confident.

00:19:03:18 - 00:19:05:20

Like I'm about to put my social on the group chat.

00:19:06:01 - 00:19:27:08

Have no problem. I've never had a problem getting a social Security number, so I'm very confident with their socials. So but it's just about how you say it. It's just like because you already made the sale, you know, they already like you. So if they want to do business, it's just like, Hey, what's your social? You know, need to verify your social for me, please. I don't want to give you my social. We need it for the application and do the recording. What's your social.

00:19:29:05 - 00:19:29:20

Yep.

00:19:30:02 - 00:19:32:17

Can I hear some of Nikki's calls just so I can like?

00:19:33:20 - 00:19:39:15

Hear that Poor Nikki probably don't have a she probably doesn't have a ton of recordings at this point.

00:19:40:07 - 00:19:51:14

I got one that I've recently done that I let Ashley listen to. Um, I might, I might have said it on there, but I went over all the benefits. Have I sent it to you, Ernie? The Mary Jones one?

00:19:51:21 - 00:19:53:00

Yep. Okay.

00:19:53:02 - 00:19:53:17

Yeah.

00:19:54:05 - 00:20:00:11

Maybe you could forward it to Wesley. Um, but it's like it's good to hear other people, but, like, she pretty well, really.

00:20:00:13 - 00:20:31:00

It's just the. Yeah, just. It just whenever, whenever you get to that part, you know, and you like whenever you get them and they've already picked the amount and everything you know, and you're like, all right now I'm just asking you the rest of the, the questions on the application. That's a part where you're like, Oh my God, the person picked the plan, you know? And that's when you start sweating, you know, they pick that 15 for $100 and you're like, All right, what else do I need on this stupid application? You know? And then at that point, you're like, okay, well, what's your doctor's name? So then you get the doctor's name or whatever you're missing.

00:20:31:02 - 00:20:35:12

Maybe you're missing the state of birth. Oh, okay. And then, Ernie, please verify your full social.

00:20:37:01 - 00:20:38:12

And blah, blah, blah.

00:20:39:03 - 00:20:50:07

You know? Thank you so much. All right. We're going to use that for the recording, you know, and then you just keep going down. Hey, now, I know you said that you bank with Wells Fargo, blah, blah, blah. It depends on if you got the banking or not.

00:20:50:23 - 00:21:16:18

So yeah, and it just has to it just has to make sense. Like it has to sound mean. That's when I hear it. All of a sudden I hear somebody really confident throughout the entire presentation and then they like, Oh, okay, if you don't. And then all of a sudden at the end it's like, Oh, if you don't mind, can you go grab a check? Because I do want to read you some numbers off of it. Um, yeah. I mean, if it's laying around, if you have it, you know, you know, I'm sure all you've all done that.

00:21:17:04 - 00:21:48:03

People will speak before, they'll give the social. You don't give them a chance to say they're social. You're too impatient for them to actually process what you said and then for them to actually say it. So sometimes you have to be even back. He's not on the call right now, but you can hear the urgency in his voice sometimes, you know, So sometimes you just got to take a step back and be patient with them for a second because they're like, oh, my social, you know, like they have to.

00:21:48:23 - 00:22:06:02

It's almost like a buffer, you know? Please verify your full social. What? You just say My full social, you know. Five seconds goes by. Okay. And then boom. Bom, bom, bom, bom, bom, bom. Thank you so much. Okay, onto the next spot.

00:22:06:12 - 00:22:31:22

Like, I was on a call with Ernie a little while back. This was a little while back, but just came to mind and it's like the person was trying to give me their account number and I cut them off so I could tell them their routing number and they're trying to read me the account number and I'm cutting them off like, and I still got the cell at the end of the day. But it's like, why the F am cutting them off when they're trying to give me their account number?

00:22:32:20 - 00:22:33:24

Yes, exactly.

00:22:34:16 - 00:23:05:00

That's really what I was trying like. Glad we have Nikki here to help us, guys. Um, that's what I'm really trying to convey. Do not talk over people when they're trying. When they are giving you information that you need. It's not a good idea to cut them off. Interrupt them. Don't get so nervous that. Uh, you're just talking the whole time. And Nathan, by the way, listened to that call last night. Like, after I got service and all that crap. Listen to the end. And it really was just, you know, you just let them talk a little bit, so.

00:23:05:02 - 00:23:10:20

I mean, I know you're, you know, you're gung ho, so you're going to talk a lot, but the more they talk, the better.

00:23:13:09 - 00:23:17:18

So what did I do? What did I do wrong in that one? Which. Which car are we talking about?

00:23:18:17 - 00:23:20:19

I don't the one think we text.

00:23:20:24 - 00:23:22:03

Hey, like the live.

00:23:22:05 - 00:23:26:11

The last live transfer where I just looped him for a little while and I couldn't close him.

00:23:26:23 - 00:23:38:17

It was like 57 minutes after I looked at the end. Don't listen like last five minutes. So you were just kind of scrambling. And he could definitely sense that. Like, if you start talking and talking and talking, like. And then yeah.

00:23:38:19 - 00:23:41:21

At that point. At that point, I lost the sale already, like.

00:23:43:15 - 00:24:17:06

I heard. So Jennifer made the sale yesterday, too, but like the guy trusted her and she proceeded to then explain, oh, we could call Pioneer, We could we could call, you know, senior life services to verify my identity. And, and but y you mean then it just seems like you're trying to scam people like, Oh, got an elaborate scam plan that we're going to call these numbers and they're going to pretend like that's what I would be thinking if I already trusted you and you told me all these reasons to trust you then would be freaked out.

00:24:18:24 - 00:24:23:04

Come on board South. He was on a call in this meeting.

00:24:25:06 - 00:24:27:12

Taylor is not on the call right now.

00:24:29:02 - 00:25:02:20

Okay. So when I was listening to Taylor yesterday, um, you know, he was going through the application and sometimes when people do get to the social. The way they deliver the request. It's just not, you know, confident. So I kind of whispered to him through Zoom. All right. So now this part is where the social is said, okay, Mr. Brown. Okay. What's your Social Security number? Very direct, very simple. The guy spit it right out. You can't be like, oh, you know, do you know you're social or yada, yada, yada.

00:25:02:22 - 00:25:14:19

It's just to have your social please. And they haven't had a problem with it in weeks. Can I have your social, please? What's your social, please? Simple.

00:25:16:04 - 00:25:17:24

Give me your social. Doesn't matter.

00:25:21:19 - 00:25:31:23

Yep. And then, uh, yeah, it's just. And then it's the way you ask for stuff like, do you know your account number by heart or do you need to go grab a check to verify it?

00:25:34:22 - 00:25:47:08

Earnest. Would you ask it like that or should I ask it? Like, do you have a cheque in front of you? Do you need to go grab it? Because we all know they're going to end up having to go grab it. I feel like if you just ask them if they know it by heart, they're just going to like, try routing the writing number down.

00:25:48:04 - 00:26:02:17

Yeah, you guys have all experienced that. Both of those are good. Don't get it confused. Both of those are fine. Like, do you do you get a check in front of you? You need to go grab It is fine. That's good. So that's a that's a something that's not go grab a check. It's very something.

00:26:03:16 - 00:26:17:20

So Ernest, I know I haven't been too bad at this, but, like, okay, they pick a plan. Let's say you lock them in at 15,000 for 100, $100 a month. What is the next thing you're saying? Like when you're getting them to go grab a check?

00:26:19:19 - 00:26:24:04

So I'll go with the 15. Like I'm the client. I'm going with the 15. What do you say, then?

00:26:25:13 - 00:26:53:03

Usually go right to banking like we're at that stage. So logically that makes sense for them. Like I'm just trying to like, okay, so your payments will be consistently on the third of the month to coincide with Social Security? Well, usually I'll say after today your payments will be consistently on the third of the month to coincide with Social Security. Now, Bank of America is a preferred bank, so we already know that. I do have their routing number right here. So if you can go grab a check, I'm going to first verify that with you.

00:26:55:11 - 00:27:01:12

And I'm saying first because I want them to also put in their head because I'm going to ask them. I'm going to ask you more information right after.

00:27:03:20 - 00:27:39:13

With the routing. What I started doing was, um, since like usually I try finding out already what the bank is obviously. So I have the routing in front of me and then what I just do is obviously have to see whatever day they want to put it at. Um, I'll then say, okay, and I have the routing as one, four, six and then they'll be like, Oh, and because I'm like, can you just verify I have it as and I just start going with the numbers so they can clearly see that I have it or I don't know why I do that, but it just tends to always work where they're like, Oh, actually, let me, let me make sure it is.

00:27:39:15 - 00:28:07:03

Or they'll say, Yeah, that's like, Yeah, that's it. And I'm like, okay. And then the and then the account number and then they're like, And since I take a pause, they're like, Oh, they want me to say it. So then they start saying it so usually or I do say, Can you just make sure like verify the routing? But I always kind of hop into the routing. It's fine if I have to repeat it for them to verify it, but I always feel like by already saying it, it's very like, I don't know, it gets the ball rolling, I feel like.

00:28:08:06 - 00:28:17:15

And to be able to say their routing number, though, you would have had to have their account number ahead of time or their bank account name ahead of time. So it shows that you're following the script.

00:28:18:07 - 00:28:44:15

Right. And but mean would avoid that actually don't get in the habit of that because people will confirm a number without looking at anything. Yeah, that's it. All right. And then what is the account number? Oh, I'm not giving you that. Don't like Then the routing number is not even right. I've closed hundreds of deals and I know that they will say the routing number is correct without looking at anything or they'll be writing it down. They will write down what I'm telling them. Your routing number is this like like I'm giving it to them for their.

00:28:44:21 - 00:28:48:07

That's what happened in that one deal that you were listening to yesterday, Ernie.

00:28:48:09 - 00:29:07:23

I'm like, why are you writing it? Like. Like, no, go grab yours. And if I can I try to get them to read, Uh. You know, read it to me because I do hate that when I'm like, I'm reading a like, Oh yeah, what is it? And I'll just tell them. It's like, No, why don't you go grab something? And then, uh, and then I'll tell you.

00:29:08:21 - 00:29:28:19

Yeah, me Same. It's the same style as earning. It's just like, Hey, you know, I know you told me you Bank of Wells Fargo. Did you open the account in the state of Florida? Okay, well, I'm showing a random number here, but I need you to go grab that check or statement from me so we could verify it, you know, So it's go grab this, you know, go get that.

00:29:29:17 - 00:29:30:24

Not. Yeah, it's just.

00:29:31:01 - 00:29:43:17

A lot of this is this is the part of the process around. So hey do you so happen to have a check or statement or hey do you know go grab. Please go grab. I'll wait while you do that.

00:29:45:01 - 00:29:47:02

No, you say that's fine.

00:29:47:19 - 00:29:54:01

But you could talk yourself out of the sale. You could talk yourself out of the sale with the routing number two, just like you can with the social.

00:29:54:14 - 00:29:55:08

So. Okay.

00:29:56:00 - 00:30:06:09

So that's what Ernie means by like. You know, you don't want to talk too much during certain parts of the presentation. When you're getting those parts, you know, those are like the business, real business parts.

00:30:06:18 - 00:30:07:08

Mhm.

00:30:07:14 - 00:30:08:23

So he means like during that.

00:30:09:05 - 00:30:41:14

Something I'm also having a little bit of trouble with, I feel like because I'm like really being their friend in all of this. Obviously you're supposed to make a friend, but I feel like it's me against everybody for so long that it's like us against the high prices, the high, the high gas prices, the government, whatever they want to go against, I'm against it with them. But then whenever we get to the plans, I want to know how to shift into, okay, I am the professional.

00:30:41:16 - 00:31:04:06

You are just a client. We're not friends. It's not that we're not friends anymore, but it's like because I don't want to say. I just feel like I come off to, um. Like a friend trying to suggest you to buy a shirt. Like, I don't want to come, come, come off like that. I want to like, Hey, I know what I'm doing. Or I don't know, maybe I just need to switch my tone a little bit, but.

00:31:04:22 - 00:31:06:08

That's exactly what it is.

00:31:06:10 - 00:31:08:04

Yeah. I mean, that's. That's definitely.

00:31:08:12 - 00:31:10:05

But it'll come with practice, honestly.

00:31:10:09 - 00:31:11:20

Yeah, that's a whole nother topic.

00:31:11:24 - 00:31:12:15

Yeah.

00:31:12:17 - 00:31:13:07

Okay.

00:31:13:21 - 00:31:14:11

Yeah, we.

00:31:14:13 - 00:31:44:14

Can do some tonality, but the tonality is a big deal. But I just wanted to yeah, just wanted to cover those two things, like managing expectations. Like people are like, don't talk to the delusional ones. Start getting some information up front if they want. Oh, I want this. Yeah. Looking for 100,000. I'm 80. Oh are. Yeah. Uh, it's like. So get get those things out of the way before you proceed with the presentation because it's. It's just going to make your life easier. Oh, you know, I'm paying $50 for 20,000.

00:31:44:16 - 00:32:10:10

Oh, man, that must be something you set up a long time ago. Okay, what's the point of, like, not the point, but, like, what's the goal of this? You already got the 20. And it's okay to say things like, you know, you already have this coverage that will certainly at 80 years old at 20,000 is certainly going to cover your final expenses. What would be the goal of this additional coverage? Because some people will still ask you and be looky loos to see if they can.

00:32:10:12 - 00:32:11:04

Beat.

00:32:11:06 - 00:32:16:01

A policy they got 20 years ago. So that's a delusion.

00:32:19:10 - 00:32:23:12

And then the other part was, you know, just simply like like what Nikki was saying.

00:32:26:14 - 00:32:27:04

And naked.

00:32:27:13 - 00:32:59:23

So you guys have any questions about that? And Taylor saw. Yeah, we mentioned you a little bit and then, um, like Matt was Matt helped you with that sale yesterday? Um, I did record this, so I'll put this on the site. But this is just we've just been talking about managing people's expectations before presenting. And I think that's it's just a good topic to go over so you're not wasting your time and it doesn't become hard to close because their expectations are already. I'm almost trying to make them low, keep people's expectations low, and then anything above that is going to be good news.

00:33:02:11 - 00:33:14:07

Yeah, can agree with that. I definitely had one of those yesterday and you might have even hopped on for a few minutes or hopped off. Can't remember. But he had some outrageous expectations for like an 78 year old man.

00:33:14:20 - 00:33:17:16

Yep. So manage them. Yeah, we have to manage those.

00:33:18:00 - 00:33:19:08

It's like delusional.

00:33:19:21 - 00:33:25:03

These people wait their whole life to get life insurance, and then they have the highest expectation that they're going to get.

00:33:25:05 - 00:33:42:01

They're just like, super uneducated or sometimes even stubborn or some of them, you know, like, if they give me something crazy, like I'll laugh, you know? But it just depends on the type of person, you know. You know, like it says here, you're looking for $1 million. So we're going to talk about that.

00:33:43:01 - 00:33:43:16

Hey, it's out of.

00:33:43:18 - 00:33:49:18

The day, though. Don't blame nobody for being uneducated. Didn't know what beneficiary or premium meant before I started here.

00:33:50:02 - 00:34:02:11

Yeah. So it's like it says here that you're looking for $1 million, you know, So are your children. Are they still very young? Do we have, like, an army of grandchildren? Like what? What's this milli for? You know, like, you know, and I'll, like, joke with them a little bit.

00:34:02:19 - 00:34:04:00

So, yeah, that's getting to.

00:34:04:02 - 00:34:10:12

The bottom of it. Finding out why. Why are we talking about $1 million in coverage when you're 73.

00:34:10:14 - 00:34:30:03

Years old or won't even mention it? Sometimes if I see it on like on the vanilla, soft on their on their lead information, you know, I'll just like, like it says you're looking to make sure that you just have enough to take care of your final expenses and then maybe leave some behind for your family. Is that right? You know, and just pretend like it doesn't even exist at first and have to.

00:34:30:05 - 00:34:31:09

Come back with sometimes?

00:34:31:11 - 00:34:38:10

Nikki Yeah. Then if they come back with I want a milli, you know, then it's like, okay, well, let's break this down really fast and find out I'm.

00:34:38:12 - 00:34:39:12

Talking to a bozo.

00:34:39:22 - 00:34:40:13

Yeah.

00:34:41:02 - 00:34:47:09

You made $1 million. What kind of agent am I to sell you a policy on $1 million if you only need 20,000?

00:34:48:01 - 00:35:01:23

And even my own mother, Like, when I got this, I started this job. Like, she was like, Oh, you can probably go get, like, a million for, like, 20 bucks a month. And yeah, you can. Well, people just they, they.

00:35:02:00 - 00:35:02:15

They don't own.

00:35:02:17 - 00:35:04:06

20 with globe life.

00:35:06:08 - 00:35:42:23

Yeah. But so, hey, real, real quick last thing to add. Um, so it's so common, right? One of the objections already have life insurance. So I was doing some research because that's just one thing that I've run into a lot and I always feel like I don't handle it properly. And here's what I found, doing some research about how to handle that. So and it's exactly me. So it says, while it may be tempting to try and overcome this objection by attacking or devaluing the prospect's current situation, all too often the people we speak to are the same people responsible for completing the project in the first place.

00:35:43:00 - 00:36:13:15

So they took out that coverage thinking it was a good idea. So the last thing we want to do is be like, Oh, you know, well, who's that with? How much is that? How much are you paying? So we're instantly attacking them. So in these instances, implying that you somehow know better, that your prospects are being outright rude is a bad idea. So you always want to affirm the value of the prospect solution and then offer additional value. So, you know, you would say something like, I'm very glad to hear that you're with Mutual of Omaha. You're already working with that provider.

00:36:13:17 - 00:36:53:01

It confirms that you see the value in this life insurance and then you'd offer, you know, you know, it's been a long time, then you can ask some questions after you've affirmed that they made a good decision in the past, then you can ask them questions like, How long has that been in place? And if they say a long time. Oh, okay, great. You know, since life insurance, just like any other, just like life insurance is like any other business, you know, there's a lot of new products and there's a lot of living benefits that come with plans. Now let's talk about those. So affirm that they made a good decision in the past, and then you can start to ask questions about how much coverage, when do they do it, what's the name of the company, etcetera, etcetera.

00:36:54:09 - 00:36:54:23

Yep.

00:36:55:13 - 00:36:59:04

That's a great point. I've actually sold people before that. Like the first thing the.

00:36:59:06 - 00:37:18:05

Lady said to me was, Oh man, I have more than enough insurance. And I'm like, All right. I mean, guess you can never have enough. This is just going to be like some additional. Then she's like, Yeah, guess so. I'm like, All right, cool. And whenever somebody tells me that they have coverage, like I always say the exact same thing. Kind of like just Matt said, I'm like, okay, well, congratulations. Good for you for being so proactive about that.

00:37:18:07 - 00:37:22:22

Like, is this going to be just additional or are you trying to see if you could save a little money? It was.

00:37:22:24 - 00:37:25:13

And on a question, I say the same exact thing.

00:37:27:02 - 00:37:59:24

Like never give up. When you hear somebody saying they have insurance, like my biggest deal ever was like the husband 360 and the wife was over 100. Unlike that one dude that had 12 policies, Me and Ernie was literally calling 12 insurance companies over like four hours trying to cancel all this dude's policies. So, like never. Never like give up from that objection. You could get a huge sale there, especially if they're spending 150 with one company and you guys eventually find out that's not the best product for them, that 150 can go towards you.

00:38:01:01 - 00:38:01:21

Exactly.

00:38:02:10 - 00:38:10:12

And then obviously never cancel stuff. That's good. We we left that. We let that guy have keep some of the coverage because some of it was really good.

00:38:12:11 - 00:38:24:09

But he just had to know and be knowledgeable in what he even had in the first place because he's literally buying a policy from every agent that calls his phone not that's not going to work out for him.

00:38:29:03 - 00:38:30:05

Yep, exactly.

00:38:30:07 - 00:38:56:07

Well, guys, uh, for those that are still in here, if you have not completed your, uh, surance Bay Patriot series, that new product, um, for. Yeah, stay, stay here. If you did not go to surance bay and, you know, complete the contracting to get the get that done. We all need to do that today. So I'm going to stop this. Very good training guys. Appreciate.

Watch the Full Video Here: Managing Expectations