Use Phrases That Promote Collaboration

Too many times, we approach the phone call with a request for something we want from the bank representative: assignment to a negotiator, escalation to management, speeding up the processing time, better terms on the approval letter. Because the short sales process takes a long time, we tend to be very results driven, and focus on achieving milestones as fast as possible so that we don’t lose the buyers in a short sale.

Putting pressure on the bank representative puts them on the defensive and often results in the response “you will have to wait your turn”, or if the conversation escalates, you may not receive any acknowledgement of your requests. Remember that this is a team effort, and the milestones are targets that both of you are trying to achieve. With this in mind, you realize that it isn’t a tug-of-war competition, but is one where both of you can pull the rope from the same side to bring the next milestone closer.

What is the best way to promote this type of collaboration for each and every phone call? Use phrases that are suggestive of your willingness to cooperate, to make their job easier, to work together towards a common goal:

“What can I do to help you complete the processing this application?”
“ What would you suggest as the best way to escalate this file?”
“What information can I provide you to help you present the issue to your management team?”

For the majority of calls, bank representatives are inundated with demand upon demand, call after call. After taking thousands of these phone calls, we can begin to understand why many of them seem to be disinterested, uncooperative, or even confrontational. These calls wear them down emotionally, physically, and mentally, and they highlight of their day is likely the ending of their shift.

By using collaborative phrases, you immediately shift them out of the flow and pattern of the regular call. They will feel your attempt to understand their job, their role, and their goals. You’ve provided them an offer of assistance and you’ve shown that you value their expertise and advice. Their default defensive posture will start to soften, as the possibility of another type of interaction begins to emerge. Instead of the standard response of “I can’t help you”, they respond to your invitation by offering you the guidance and coaching to move your file to the next milestone. With many bank representatives, I have achieved enough collaborative wins that they request that I send files to them to process.

Look out for our future blogs/articles from our Short Sale Leadership Series content.

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