How to Close More Mortgage Deals: Proven Sales Strategies for Mortgage Brokers

Closing more mortgage deals is the ultimate goal for most mortgage brokers. Whether you’re new to the industry or a seasoned professional, increasing your mortgage closing rate can be challenging. However, with the right sales strategies and techniques, it’s possible to close more mortgage deals effectively. As a mortgage broker coach, I've worked with numerous advisers, and by using the sales techniques outlined in this blog, some have achieved incredible results. One of my clients, for example, is now closing four out of five mortgage leads, while another made £82,000 in just three months by applying these proven mortgage sales strategies.

In this blog, I’ll share the best sales strategies for mortgage brokers, focusing on both psychology and actionable sales techniques that will help you increase your closing rate and close more mortgage leads.

Understanding the Psychology of Closing Deals

When your clients are buying a home, they’re making one of the biggest financial decisions of their lives. It’s more than just a mortgage—they’re investing in their future, whether they’re first-time buyers or homeowners looking for their next property. Understanding this emotional and psychological journey is critical to your success as a broker.

Matching Your Client’s Excitement

Your clients are excited, but they’re also likely nervous. It’s a time filled with both dreams and anxieties. As a mortgage broker, you need to match their energy and show them that you’re just as invested in helping them reach their goals. This connection builds trust, which is a cornerstone of any successful mortgage sale.

Establishing Equality from the Start

One of the most important aspects of the psychology of closing is ensuring that you and your client are on equal footing. From your very first discovery call, you need to convey that you're deciding whether the client is a good fit for your services—not just the other way around.

This might sound counterintuitive, but establishing this two-way relationship can increase your mortgage closing rate. When potential clients see you as a busy professional who’s also assessing whether they're right for your business, it positions you as an authority figure. This psychological shift can make it easier to close more mortgage deals.

Technique #1: Conduct a Fit Check

A “fit check” is one of the most powerful tools in a mortgage broker’s sales toolkit. During your initial call or meeting, make it clear that you’re evaluating the fit of the relationship just as much as the client is evaluating you. This simple technique helps shift the power dynamic, positioning you as a sought-after professional.

Here’s how you can phrase it:
"This call isn’t just about me offering my services. I’m also seeing if we’re a good fit to work together."

By setting this tone, you reinforce that you are a valuable resource. This fit-check strategy not only helps you identify high-quality clients but also increases the likelihood that you'll close more mortgage leads.

Technique #2: Identify Client Pain Points

Identifying client pain points is a crucial step in the sales process, particularly in the mortgage industry. Pain points are obstacles or challenges your clients might face during the mortgage process that they may not even be aware of. By bringing these potential pitfalls to their attention, you demonstrate expertise and build trust—key elements that can improve your mortgage deal closing rate.

For example, you might say:
"In my experience, one common issue that can delay this process is not having the correct documentation prepared in advance. If this isn’t sorted, it could slow everything down later on."

Addressing potential challenges early on positions you as a problem-solver, which increases the chances of closing more mortgage deals.

Technique #3: Raise Concerns

Raising concerns with a potential client might seem counterproductive, but it can actually be a powerful sales strategy for mortgage brokers. When you voice concerns about potential roadblocks in the process, it forces the client to reassure you and, in turn, commit further to the process.

For example:
"I’m a little concerned that you haven’t been responsive with emails. Timely communication is crucial to ensure everything runs smoothly."

This technique encourages clients to take more responsibility and commit to the process, making it easier to close more mortgage deals. It’s a counterintuitive yet effective way to drive client engagement.

Top Sales Techniques for Mortgage Brokers

Now that we’ve covered the psychology of closing, let’s dive into some specific sales techniques that can help mortgage brokers close more deals. These strategies can be applied during appointments, before meetings, and in your follow-up process.

Active Listening

Active listening is one of the most overlooked sales tips for mortgage brokers. Many brokers focus on selling—pushing their products or services without actually listening to the client’s needs. By asking open-ended questions and truly engaging with your client’s responses, you can build rapport and trust, increasing the likelihood of closing the deal.

For example, ask questions like:
"What challenges are you currently facing with your mortgage process?"
"What’s your ideal outcome?"

When you practise active listening, clients feel understood, which significantly boosts your chances of closing more mortgage deals.

Mastering the Follow-Up

A well-timed follow-up is essential for closing more mortgage deals. As soon as a potential client books an appointment, you should have a follow-up system in place. This keeps the client engaged and reassures them that you are reliable and organised. Follow-ups also provide opportunities to address any lingering questions or concerns.

Follow-up isn’t just about reminding clients of appointments. It’s about demonstrating your commitment and professionalism throughout the entire mortgage process. Consistent follow-ups will help improve your mortgage deal closing rate.

Clear Communication

Clear communication is another key element of closing more mortgage deals. Make sure your clients know exactly how to reach you and which communication channels to use. Some brokers offer too many options—phone, email, WhatsApp, social media—and this can create confusion.

Pick one or two channels, like email or WhatsApp, and make it clear to the client that these are the best ways to reach you. This clarity builds trust, makes you seem more organised, and ultimately helps close more mortgage leads.

Creating Urgency Without Pressure

Creating urgency is a highly effective sales strategy for mortgage brokers, but it’s important to do it without applying too much pressure. A smart way to create urgency is by implementing systems where the client needs to take specific actions before the process can move forward.

For example, requiring all necessary documentation upfront creates a sense of urgency for the client to act quickly. This also shows that you’re serious about progressing the deal efficiently, which can significantly increase your chances of closing more mortgage deals.

Technique #4: Use Social Proof

One of the most powerful ways to close more mortgage deals is by leveraging social proof. Social proof can take the form of testimonials, case studies, and content marketing. By showcasing your expertise and successful outcomes with past clients, you build credibility and trust before the sales conversation even starts.

For example, sharing detailed case studies on social media can position you as an expert in your field. Many clients will come to you already convinced that you’re the right mortgage broker for them simply based on the social proof they’ve seen.

If you’re looking for a comprehensive way to improve your social proof and overall marketing strategy, check out my Mortgage Marketing Blueprint, a free course that coaches mortgage brokers through the entire marketing process.

The Simplest Way to Increase Your Closing Rate

Here’s a simple yet highly effective way to increase your closing rate: ask for the sale.

At the end of your first discovery call, don’t leave things vague. Be direct and ask the client if they want to move forward with you as their mortgage broker.

Here’s how you can phrase it:
"I think we’re a good fit, and I’d love to help you with your mortgage. My question to you is: do you want to work with me?"

Being direct saves time and ensures you’re working with clients who are serious about moving forward. By asking for the sale, you’re more likely to close the deal and improve your overall mortgage deal closing rate.

Conclusion

By understanding the psychology of closing, conducting fit checks, identifying client pain points, and using proven sales techniques like active listening, follow-ups, and social proof, you can close more mortgage deals and significantly increase your closing rate. Remember, your role as a mortgage broker is to guide your clients through one of the biggest decisions of their lives. By positioning yourself as a trusted adviser and asking directly for the sale, you’ll not only close more deals but also build stronger, longer-lasting relationships with your clients.

If you’re looking to take your mortgage business to the next level with professional guidance, learn more about working with me as a mortgage broker coach.

Additionally, for in-depth tips on marketing, sales, and business development, check out my YouTube channel, where I post guides and tutorials specifically tailored for mortgage brokers.

For even more insights, tune into my Mortgage Business Mastery Show, where I cover all aspects of business coaching for mortgage brokers, including marketing, sales, and lead generation.