What Do Bedtime Stories Have to Do With Closing Deals?

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When you think back to your childhood, you likely had a favorite bedtime story. And chances are, this bedtime story followed a certain framework. There was a sequential pattern to get you from the beginning to the middle and end, and there were characters you fell in love with. At the end of it all, there was also a lesson or big takeaway (One of my personal favorite stories has always been The Emperor’s New Clothes). 

It might seem like a stretch, but the mortgage process is similar. Instead of a prince or princess trying to find their one true love, the end goal is closing and funding a loan for someone’s dream house.

One of the most powerful story frameworks is called the Hero’s Journey, which we’ll dive into below.

Key Takeaways

  • The Hero’s Journey is a well-known framework for storytelling that can also be applied to closing and funding a loan.
  • Making the client the hero is the key to a happy ending. 
  • Your relationship with your clients determines your role in the story. 
  • Happy endings take work, but they’re always worth it. 

The Hero’s Journey for Loan Officers

Every good story follows something called the Hero’s Journey… but what’s that?

When a hero begins their journey, there’s a lot they don’t know. They might feel nervous about the future, and they might make a lot of mistakes. But through the various obstacles they face and overcome, they gather new insights and knowledge they didn’t have at the start. And by the end of it, they’ve completely transformed.

The key word here is transformation.

If everything goes right, the client will walk away from the closing table transformed into a homeowner. But every journey has to have a beginning, so what does that look like?

Everything Starts With the Call to Adventure

 

Leads and prospects get in touch with you once they realize there’s a challenge or obstacle standing in the way of their goals. They know they cannot achieve home ownership without help and that’s what leads them to you. This begins the journey. 

But who gets to be the hero on this journey? 

Understanding Your Role in the Hero’s Journey as a Loan Officer 

 
Positioning the client as the hero on this journey makes them feel empowered in a situation that they don’t have a lot of control in. And every hero needs a mentor to guide them on their journey. For Luke Skywalker, it was Yoda. For Harry Potter, it was Dumbledore. You get the picture.
 
Learning to step aside and make the client the hero is a powerful concept I learned from the best-selling book, Building a StoryBrand by Donald Miller. It might seem small, but forgetting to do this can actually push prospects and clients away. 
 

It’s easy to forget how intimidating the homebuying process can be, but the reality is that many prospects and clients will feel like they’re about to embark on a treacherous journey filled with danger at every turn. By equipping them with the right tools, you can position yourself as their guide to help them navigate the various obstacles that come with securing a mortgage (or refinancing their home). 

By validating their concerns and helping them spot potential roadblocks, you can help them feel supported throughout the process. And they’ll feel like a hero when they come out the other side with keys in hand.

Being able to bounce back from setbacks and maintain a positive attitude is another key to building a successful mortgage business. 

The Tests and Trials

 

Prospects and clients want to hear your personal stories, but they’re not just interested in the successes. They want to hear about the challenges you’ve been through and the lessons you’ve learned. (And how you can help them.)

Share the story of a client you worked with who was struggling to get approved for a mortgage before they met you. Share the story of a single mom who was able to refinance her mortgage after a painful divorce and how she’s now able to save money on her monthly payments to take care of her kids. Share the story of the time you volunteered at the local animal shelter or sponsored a local charity event for veterans.

Connecting on a human level makes the process less stressful and adds a sense of comfort. It lets the client know that you’re on their team, no matter what hurdles come up along the way. (And let’s be honest… trials DO happen when trying to secure a mortgage) 

Finding Happily Ever After as a Loan Officer 

The next time you interact with your prospects and clients, remember this: 

Your paths crossed for a reason and you need each other to get over a common obstacle together (whether that’s a first-time loan application, a refinance, or a second mortgage). 

“Happily ever after” doesn’t magically happen in the homebuying process—It comes from good communication, trust, and a commitment to the same end goal. 

See how Good Vibe Squad can help you craft your happily ever after. 

Schedule your call today!

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