I'd rather stay with my own bank: mortgage sales
The short answer
Respect the loyalty and ask what it buys. Ask what the bank offered, how fast it closes and whether the loan officer picks up the phone. Compare the loan estimates line by line. Do not attack the bank. Show one clear difference in cost, speed or flexibility, or tell the buyer to stay.
Take this call against an AI buyerWhy buyers say it
A bank the buyer already uses feels safe and simple, and the accounts are already there. Switching to a new lender feels like extra paperwork on the biggest purchase of their life. The buyer is not rejecting you but protecting an easy path.
How reps lose the deal on it
- They run down banks in general. The buyer's bank is part of their life, and the criticism lands on them.
- They talk about rates before asking what the bank offered. The buyer cannot compare what they have not shown.
- They accept the answer and hang up. The buyer's bank never faced a comparison.
Stronger lines to say
- “That makes sense. Can I see what your bank offered, so you can compare the two on paper?”
- “Staying where you are is a fine answer if it’s the better loan. I just want you to know the difference before you close.”
- “What would make you leave: a lower cost, a faster close, or a loan officer who calls you back the same day?”
Questions reps ask about it
What if the bank offered a discount for existing customers?
Ask what it includes and for how long. A relationship discount can be real, or it can sit next to higher fees elsewhere. Compare total cost on both estimates and say plainly if the bank wins.
When is staying with the bank the right choice?
When its estimate is as good or better on total cost, it can close on the buyer's date, and the buyer has someone there who answers. Say so if that is what you see. A buyer who hears you concede a fair point trusts you the next time.
What should I ask about the bank's closing timeline?
Whether the bank has approved the buyer or only prequalified them, how long underwriting takes, and who the buyer calls when a document is missing. A purchase has a closing date in the contract. If the bank's timeline puts it at risk, say so without knocking the bank.
Related objections
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