WEBVTT NOTE This file was generated by Descript 00:00:00.510 --> 00:00:06.270 The deductible comes up again, and you try so hard to communicate to the 00:00:06.275 --> 00:00:09.690 homeowner that it's their contractual obligation between them and the carrier. 00:00:09.900 --> 00:00:12.920 You explain that by law they need to pay it, and then you hear it. 00:00:13.379 --> 00:00:14.700 But we can't afford it. 00:00:14.760 --> 00:00:15.480 Can you help? 00:00:15.840 --> 00:00:22.710 Now, we have a whole market of people, especially with rising deductibles, hail, 00:00:22.710 --> 00:00:24.540 wind, and hurricane specific deductibles. 00:00:24.720 --> 00:00:28.320 Deductibles that are percentage of home value, no matter how you skin it. 00:00:28.320 --> 00:00:30.900 There are people that just need financial help. 00:00:31.255 --> 00:00:35.095 So in this video, I'm gonna be teaching you three really easy ways 00:00:35.095 --> 00:00:38.815 that any company of any size can get started with right away if you're 00:00:38.815 --> 00:00:42.535 not already doing it, to start offering financing for deductibles. 00:00:42.745 --> 00:00:47.004 And by doing this, this entire market of folks who, who will need financial help 00:00:47.515 --> 00:00:49.705 at this point, you cannot serve them. 00:00:49.705 --> 00:00:51.595 There's literally no way that you can serve them. 00:00:51.745 --> 00:00:53.155 You're not gonna win that business. 00:00:53.275 --> 00:00:57.625 But by offering financing, you now open up this world of opportunity to 00:00:57.625 --> 00:00:59.935 serve an entire segment of the roofing. 00:01:00.780 --> 00:01:02.129 That was off limits to you. 00:01:02.400 --> 00:01:06.360 And in fact, in the Pitch Pro movement, we had a, a leadership round table 00:01:06.570 --> 00:01:10.980 not long ago, and one of our members was not offering financing at all. 00:01:11.130 --> 00:01:12.420 Started offering financing. 00:01:12.420 --> 00:01:15.330 Closed eight deals in a week as a one man show. 00:01:15.930 --> 00:01:18.360 A hundred percent due to the financing offer now is running 00:01:18.660 --> 00:01:20.010 ads on Facebook for financing. 00:01:20.010 --> 00:01:23.940 And he is bringing in business at a higher rate than he was able to because 00:01:23.940 --> 00:01:27.270 he found that in the market he's serving, people just need financial help. 00:01:27.420 --> 00:01:31.050 So by offering that help, he earned more business and created an amazing 00:01:31.050 --> 00:01:33.060 experience for his customers. 00:01:33.270 --> 00:01:34.620 And I wanna help you do the same thing. 00:01:34.980 --> 00:01:37.830 But first I just wanna say a quick welcome or welcome back. 00:01:38.040 --> 00:01:40.890 My name is Adam Binman, the roof strategist, and everything that I 00:01:40.890 --> 00:01:44.040 do here on my channel is designed to help you and your team smash your 00:01:44.040 --> 00:01:48.120 income goal and give every customer an amazing experience in this video. 00:01:48.120 --> 00:01:50.940 It's gonna help you give people an amazing experience that otherwise just 00:01:50.940 --> 00:01:53.550 simply couldn't afford to work with you. 00:01:53.700 --> 00:01:56.010 So I'm so excited to have you here, and if you want some more 00:01:56.015 --> 00:01:57.120 videos on the whole deduct. 00:01:57.450 --> 00:02:00.750 Topic I want to get you inside a freebie of mine. 00:02:00.780 --> 00:02:03.990 It's the pitch, like a pro roofing sales training video library available for 00:02:03.990 --> 00:02:07.350 free by clicking the video description or going to the roof strategist.com. 00:02:07.470 --> 00:02:08.580 And we have a new way to help too. 00:02:08.759 --> 00:02:09.720 Uh, you can text us. 00:02:09.750 --> 00:02:13.470 You can text the word free, f r e e over to 3 0 3. 00:02:13.785 --> 00:02:16.875 Two two two seventy one thirty three. 00:02:16.875 --> 00:02:18.614 And that phone number is in the description as well. 00:02:18.614 --> 00:02:20.295 Just text the word free, we'll get you set up. 00:02:20.505 --> 00:02:24.015 And the cool news is all this now lives in our brand new free training center. 00:02:24.019 --> 00:02:25.515 So you're gonna get that in a whole bunch more. 00:02:25.755 --> 00:02:28.035 And, uh, if you're already in, take a look. 00:02:28.035 --> 00:02:29.834 You should have received or will be receiving very shortly. 00:02:30.515 --> 00:02:34.115 A new link to log into our free training center to access the pitch, 00:02:34.115 --> 00:02:36.755 like a pro roofing sales training video library, the roof claims crash course. 00:02:36.755 --> 00:02:40.385 My recommended reading list, 10 closing techniques for every situation and more. 00:02:40.625 --> 00:02:43.415 And listen, the truth is if you're being a little impatient, that's cool. 00:02:43.505 --> 00:02:45.245 Just hop on and reenter it. 00:02:45.245 --> 00:02:46.595 We'll get you configured right away. 00:02:46.735 --> 00:02:49.735 Get you into that free training center, and what I want you to do is click on 00:02:49.735 --> 00:02:52.345 the pitch, like a pro perfect sales training video library, and then pop 00:02:52.345 --> 00:02:53.995 on down to the objection section. 00:02:54.175 --> 00:02:58.075 You're gonna see a whole bunch of videos on the deductible in there, and I really 00:02:58.075 --> 00:03:01.825 hope this helps for every situation that you'll soon encounter in the field. 00:03:02.455 --> 00:03:04.495 All right, so financing, deductibles. 00:03:04.770 --> 00:03:06.510 Three ways to do this by the way. 00:03:06.660 --> 00:03:10.230 Uh, if you're an individual sales rep, you will need the buy-in from 00:03:10.230 --> 00:03:12.660 the owner or leadership because a lot of the financing will need 00:03:12.660 --> 00:03:14.610 to be set up through the company. 00:03:14.610 --> 00:03:17.880 There's one exception on this list, which I'll be touching on shortly. 00:03:18.060 --> 00:03:19.440 So the three financing options. 00:03:19.440 --> 00:03:22.890 Number one is the one that people avoid the most, and what is it? 00:03:23.040 --> 00:03:24.500 It's accepting credit card. 00:03:25.215 --> 00:03:27.075 Now I've got more on this. 00:03:27.075 --> 00:03:28.245 Don't, don't you worry. 00:03:28.365 --> 00:03:30.495 We're gonna talk some fun things about credit cards. 00:03:30.705 --> 00:03:34.215 So, uh, many folks wanna just use the credit card cuz they get the points. 00:03:34.305 --> 00:03:38.402 Now there's generally about a 2.9% fee on credit cards, plus around 30 00:03:38.402 --> 00:03:42.405 cents of transaction for, for common carriers at the time of filming this. 00:03:42.615 --> 00:03:44.445 So you're, let's say 3%. 00:03:44.445 --> 00:03:49.395 But if that means offering, uh, to accept a credit card for one to $2,000, yeah, 00:03:49.395 --> 00:03:52.125 there's a small fee involved, but it means that you're collecting that money. 00:03:52.875 --> 00:03:54.315 And you get paid right away. 00:03:54.375 --> 00:03:57.464 So accepting credit cards, there's a few ways to do that. 00:03:57.464 --> 00:04:04.484 And by the way, um, if you, all these resources that I'm gonna talk about, I 00:04:04.484 --> 00:04:07.904 want you to vet them for yourself to make sure they're a good fit for your business. 00:04:07.980 --> 00:04:10.230 All right, so the first one is podium. 00:04:10.440 --> 00:04:12.390 Now I personally use podium. 00:04:12.390 --> 00:04:16.904 They're a text messaging platform, so when you text the word free to 3 0 3 00:04:16.904 --> 00:04:21.209 2 2 2 71 33, you'll get a, a link to download a free copy of your pitch, like 00:04:21.209 --> 00:04:22.469 a programing sales training video library. 00:04:22.620 --> 00:04:28.770 And also, if you text the word demo to us to 3 0 3 2 2 2 71 33, you'll get a link. 00:04:28.770 --> 00:04:33.000 So anyway, this, the podium's really cool from a text message, uh, set up to be 00:04:33.005 --> 00:04:36.000 able to have this auto intelligence and help pe guide people through the process. 00:04:36.210 --> 00:04:37.020 But the other thing that you can. 00:04:37.535 --> 00:04:41.315 Is text over invoices and when you text over invoices, 00:04:41.315 --> 00:04:42.695 people can pay via credit card. 00:04:42.755 --> 00:04:45.425 The rates are, are very, uh, affordable. 00:04:45.425 --> 00:04:46.985 I think they're even lower than what I shared with you. 00:04:46.985 --> 00:04:47.975 I'll have to double check with them. 00:04:48.035 --> 00:04:50.765 And then you can have automatic reminders to follow up with a customer. 00:04:50.915 --> 00:04:53.435 So podium is not free, but it is a cheap. 00:04:54.080 --> 00:04:55.360 Solution that will help in many ways. 00:04:55.510 --> 00:04:58.570 The other option is using this program called Wave Apps. 00:04:58.750 --> 00:05:02.140 If you look at Wave Apps, it's a way that you can very quickly just get 00:05:02.140 --> 00:05:03.730 set up online to accept credit cards. 00:05:03.735 --> 00:05:07.750 It integrates with a program called Stripe, and you're able to. 00:05:08.400 --> 00:05:12.120 start emailing invoices and people can pay via, via credit card on 00:05:12.120 --> 00:05:13.469 there, which is really great. 00:05:13.770 --> 00:05:19.140 Uh, the other thing that you can do with these is set out in-house payment plans. 00:05:19.680 --> 00:05:20.039 Okay? 00:05:20.250 --> 00:05:25.919 So there are tools within, uh, stripe or wave apps or online credit card processing 00:05:26.159 --> 00:05:29.909 that if a homeowner has a deductible of a thousand, you could break that 00:05:29.909 --> 00:05:31.469 up, let's say over four or five months. 00:05:31.955 --> 00:05:33.484 Agree upon a payment plan. 00:05:33.484 --> 00:05:35.794 And of course you'll wanna charge a bit more than the thousand since 00:05:35.794 --> 00:05:36.844 they're leveraging your money. 00:05:37.055 --> 00:05:41.164 But you could say, Hey, at 300 bucks a month for, for however many months, four 00:05:41.164 --> 00:05:43.385 months, um, to finance the deductible. 00:05:43.385 --> 00:05:45.125 So you can do all of this in house. 00:05:45.335 --> 00:05:49.115 So again, accepting credit cards is about a three percent-ish fee, 00:05:49.120 --> 00:05:52.835 summer or lower, and you can set up those in-house payment plans. 00:05:53.104 --> 00:05:56.734 Some people just want to use a credit card cuz they get all the rewards. 00:05:56.734 --> 00:05:57.695 So number one. 00:05:58.290 --> 00:06:00.300 Just get set up with credit card, credit card processing. 00:06:00.630 --> 00:06:03.960 Uh, number two, by the way, oftentimes your field reps can 00:06:03.960 --> 00:06:05.070 be set up with card readers. 00:06:05.070 --> 00:06:05.910 I know podium will. 00:06:06.150 --> 00:06:09.270 Uh, as, as again, at the time of this writing, I believe they, they have a 00:06:09.270 --> 00:06:12.240 way for you to get credit card readers so your team can just tap and be done. 00:06:12.570 --> 00:06:13.110 Uh, alright. 00:06:13.380 --> 00:06:16.380 Option number two is a company, and they don't even know I'm doing this video, 00:06:16.380 --> 00:06:18.000 by the way, is fund my deductible, f. 00:06:18.850 --> 00:06:20.500 and fund my deductible. 00:06:20.560 --> 00:06:22.360 I'm gonna let their website do the talking. 00:06:22.510 --> 00:06:26.530 You can reach out to them, but they are an organization set up to basically offer 00:06:26.800 --> 00:06:32.140 the in-home financing option, but they do all of the tracking and all of that. 00:06:32.140 --> 00:06:34.690 So it's just like kind of a done for you process. 00:06:34.990 --> 00:06:38.410 And they, uh, I, I interviewed, uh, Ryan. 00:06:38.450 --> 00:06:39.620 By the way, on the channel. 00:06:39.620 --> 00:06:42.570 So if you, if you search deductible to roof strategist, you'll probably 00:06:42.575 --> 00:06:44.030 see, uh, see us chatting there. 00:06:44.030 --> 00:06:47.240 So, uh, really good resource take a look at is fun, mind deductible. 00:06:47.450 --> 00:06:50.090 Then we're gonna start having some fun on option three, 00:06:50.240 --> 00:06:52.430 which is traditional financing. 00:06:52.430 --> 00:06:56.810 So many people don't think to use traditional financing and in fact many 00:06:56.815 --> 00:07:00.860 storm restoration contractors, they don't even offer financing cuz they're 00:07:00.860 --> 00:07:04.330 like, Hey, well we do mostly storm work or cast jobs, but we don't have. 00:07:05.025 --> 00:07:10.635 I would challenge you look at getting financing options set up, because 00:07:10.905 --> 00:07:15.045 again, some homeowners may wanna qualify and and finance a larger 00:07:15.045 --> 00:07:18.285 deductible, and if you can't help them, you're not gonna earn the business. 00:07:18.345 --> 00:07:19.485 So a couple things. 00:07:19.515 --> 00:07:22.995 One, you can finance the deductible itself, but one thing when it 00:07:22.995 --> 00:07:26.595 comes to an insurance claim is you can finance the entire project. 00:07:26.925 --> 00:07:31.155 Now, I personally wouldn't do this on my home, but for many people, if they. 00:07:31.635 --> 00:07:35.055 Take the insurance proceeds and pocket that cash and finance the roof. 00:07:35.265 --> 00:07:39.765 That's entirely up to them, and that makes that person a little bit wealthier 00:07:39.765 --> 00:07:44.914 by taking that insurance proceeds and keeping it so long as the roof gets done. 00:07:45.420 --> 00:07:47.160 And you're billing the insurance for everything on the 00:07:47.160 --> 00:07:49.950 scope, and that homeowner is contributing their deductible. 00:07:50.130 --> 00:07:51.030 You can do that. 00:07:51.030 --> 00:07:53.730 They can finance the entire project and keep the insurance money so 00:07:53.730 --> 00:07:56.790 they're, they're staying liquid from that money, from the insurance and 00:07:56.790 --> 00:07:58.320 still financing the full project. 00:07:58.320 --> 00:07:59.940 So that is an option for you. 00:08:00.300 --> 00:08:04.740 Now, the, again, the traditional financing, you're gonna need to have a. 00:08:05.955 --> 00:08:11.625 Be set up with, with a lender, and that needs to be through the company. 00:08:12.045 --> 00:08:14.715 I did mention at the start of this video that there was an option 00:08:14.719 --> 00:08:19.515 for salesperson without having to rely on your company's offerings, 00:08:19.545 --> 00:08:21.715 and that is, What we call a helo. 00:08:21.925 --> 00:08:23.995 HELO stands for home Equity line of credit. 00:08:23.995 --> 00:08:27.715 This is a mortgage product where someone, if they have enough equity in their 00:08:27.715 --> 00:08:31.195 home, there's a debt to loan ratio and all the banks are different, but they 00:08:31.195 --> 00:08:36.325 can go to their, uh, local bank, they can go to their, uh, community bank. 00:08:36.445 --> 00:08:39.385 They can go to their main bank if they're with a big bank and say, 00:08:39.385 --> 00:08:40.735 Hey, you know, we have a loan. 00:08:40.885 --> 00:08:42.025 We wanna take out a home equity. 00:08:42.719 --> 00:08:46.770 There's new offerings available where that homeowner can, can take a loan 00:08:46.800 --> 00:08:48.420 against the equity in their property. 00:08:48.569 --> 00:08:50.979 These are often a little bit lower interest. 00:08:50.985 --> 00:08:54.060 They've treated as cash, so you'd get paid same as cash. 00:08:54.329 --> 00:08:57.930 Then the homeowner would have this loan against their, their mortgage. 00:08:58.110 --> 00:08:59.339 Now the neat thing about a helo. 00:09:00.085 --> 00:09:03.775 Is the interest rate is tax deductible because it is a mortgage product. 00:09:03.775 --> 00:09:05.665 So far as I know, I'm not an accountant. 00:09:05.875 --> 00:09:06.745 I'm not your accountant. 00:09:06.745 --> 00:09:10.105 Please double check all of this with any financial experts or 00:09:10.105 --> 00:09:11.275 legal experts on your team. 00:09:11.605 --> 00:09:12.505 So there you have it. 00:09:12.505 --> 00:09:15.475 Three easy ways to begin offering financing for 00:09:15.480 --> 00:09:17.215 deductibles to help you win more. 00:09:17.215 --> 00:09:19.405 Business number one is accepting credit cards. 00:09:19.555 --> 00:09:22.105 Look for, uh, any options for card reader. 00:09:22.285 --> 00:09:25.225 I like podium cuz you can text those over and the company can run that. 00:09:25.405 --> 00:09:29.785 We have wave apps and Stripe integrations, setting up in-house payment plans. 00:09:30.175 --> 00:09:33.385 And then number two is looking at a program dedicated to this, which 00:09:33.390 --> 00:09:37.015 is fund my deductible to offer that in-house and fund my deductible. 00:09:37.015 --> 00:09:40.194 Can walk you through it or traditional financing options through your normal 00:09:40.199 --> 00:09:43.194 home improvement loans or loans you'd provide someone if they're 00:09:43.194 --> 00:09:46.194 buying a retail roof from you and again, they can finance the deduct. 00:09:46.465 --> 00:09:48.985 Potentially even the entire project and pocket some of the 00:09:48.985 --> 00:09:50.005 proceeds from the insurance. 00:09:50.005 --> 00:09:54.025 Again, so long as we do this all above board legally and are invoicing for 00:09:54.025 --> 00:09:56.335 what's actually done to the homeowner's contributing their deductible. 00:09:56.575 --> 00:10:00.235 And if you're a salesperson and you can't really control this, do talk 00:10:00.235 --> 00:10:02.785 to homeowners about getting a helo or a home equity line of credit. 00:10:02.965 --> 00:10:05.095 They're usually pretty quick low fees. 00:10:05.100 --> 00:10:06.685 And uh, again, that homeowner. 00:10:07.115 --> 00:10:09.545 The tax deduction of paying the interest. 00:10:09.545 --> 00:10:10.835 So that is a perk. 00:10:11.045 --> 00:10:11.825 So there you have it. 00:10:11.825 --> 00:10:13.895 Your three ways to finance deductibles. 00:10:14.135 --> 00:10:17.015 If I missed one or I missed a way for you to help with deductibles, 00:10:17.015 --> 00:10:18.365 drop a comment and let me know. 00:10:18.695 --> 00:10:21.425 And if you haven't done it, pop right into here to get a free copy. 00:10:21.430 --> 00:10:23.705 My pitch, like a pro roofing sales training video library. 00:10:23.915 --> 00:10:26.795 And when you're in the free training center, go to the playlists in 00:10:26.795 --> 00:10:27.935 there and look at objections. 00:10:27.935 --> 00:10:30.485 I got a whole bunch of videos and if you want to hang with me here 00:10:30.485 --> 00:10:33.035 on YouTube, YouTube thinks that you're really gonna love this one. 00:10:33.035 --> 00:10:35.345 So hop on in and I will see you on the next video.