Podcast Summary: To The Point - Home Services Podcast

Episode: TTP Micro Episode: Peterman Leads With Financing With A High Close %

Host: RYNO Strategic Solutions
Guests: Chad Peterman (Peterman Brothers), Erica Lenore (GoodLeap)
Date: August 28, 2025

Episode Overview

This fast-paced "micro" episode dives into the critical role that financing plays in home services businesses, highlighting real-world strategies to boost close rates and customer experience. Featuring Chad Peterman (Peterman Brothers, Redbird Roofing) and guest expert Erica Lenore (GoodLeap), the discussion explores best practices for leveraging financing, addressing market misconceptions, and deploying tactics that make it easier for contractors to close deals in HVAC, plumbing, electrical, and roofing services.

Key Insights & Discussion Points

1. Why Financing Matters in Home Services

• Major Growth Lever: Chad credits the company's rapid scale to a robust approach to offering financing options to customers.
  • “This is what really helped Peterman Brothers scale was offering financing and they're exceptional at it.” — Chris (Host) [00:46]
• Financing is Fundamental: All home services verticals are seeing larger average transaction sizes, making financing indispensable rather than optional.
  • “Not everybody has 15, 20 grand laying around for something that they didn't think was gonna break... Just meet them where they are.” — Chad Peterman [23:55]

2. Current Economic Climate & Approval Trends

• Economic Outlook: The group shares cautious optimism for 2026, with hopes for lower interest rates and higher approval rates.
  • “Hopefully interest rates are dropping down, somebody's a little bit cheaper to get and approval rates go up and all the things.” — Chris [10:17]
• Shift in Consumer Approach: Consumers are more open and informed about financing, even expecting it, whereas five years ago it was rarely discussed.

3. Popular Financing Options

• 15-Year Loan: The most popular, offering low monthly payments, often paid off earlier.
  • “Our popular options are really a 15 year loan for a lot of reasons. It gives people a low monthly payment to start.” — Erica [12:54]
• Menu Mentality: It's less about which plan, more about providing a simple "menu" of 3–5 clear options, used as negotiating leverage.
  • “We offer three options... If you just have three, everybody can be really just like, they can rattle off how that loan works.” — Chad [40:03]

4. Customer Experience: The “How” of Presenting Financing

• Make It Part of Your Culture: Train CSRs and techs to casually mention financing in confirmation calls and at every customer touchpoint.
  • “Plant the seed...I'm going to send you a link in your confirmation text or email. If you'd want to get pre approved, it's here.” — Erica [22:00]
• Pre-Approval Tactics: Peterman Brothers sends pre-approval texts before sales calls, boosting confidence for both the technician and customer.
  • “We send out a text message...Hey, a lot of our customers choose to use financing in this purchase. Feel free to go ahead and get pre approved.” — Chad [15:34]
• Soft Credit Pulls: Reduces anxiety for the customer, enabling pre-qualification without an immediate ding to their credit score.

5. Overcoming Misconceptions

• Not Just Big Purchases: Financing isn’t just for full system installs—a growing percentage of customers finance repairs, water heaters, and smaller upgrades.
  • “Being open to offering financing on repairs... we're seeing more and more just people getting financed on repairs.” — Erica [41:24]
• Don’t Shop With Your Own Wallet: Contractors often project their own financial habits onto customers—big mistake!
  • “Stop shopping with your own wallet. Just because you're like my dad and pay cash for everything...” — Chad [23:55]
• Interest Rate Myths: Not everyone wants 0% interest; many happily opt for longer-term, market-rate loans for lower payments.
  • “People are being offered different types of loans with different interest rates all the time and they're being accepted.” — Erica [25:16]

6. Training, Simplicity, and Avoiding Analysis Paralysis

• Education is Everything: Many techs or front-line staff avoid offering financing because they simply don’t understand it.
  • “They just don't know anything about this... Like, what is deferred mean? Is there a minimum payment?” — Chad [19:19]
• Keep It Simple: Too many options creates confusion for both staff and customers—keep your financing “menu” tight for best results.
  • “I've seen people pick 12 or 15 different loans... Keep it the same for financing. The three to five options is very simple.” — Erica [39:05]

7. Tracking & Marketing Considerations

• Monitor Declines by Lead Source: Not all leads are created equal; social media ads may generate low-quality, unqualified financing leads.
  • “We measure this: declines by lead source... Maybe that lead source is attracting the wrong type of clientele...” — Chad [36:26]
• Partner Fit Matters: Vet financing providers as seriously as any other vendor—you need a partner that aligns with your company's needs and values.

Notable Quotes & Memorable Moments

• On Making Financing Core to the Business:
  “We're almost to the point where you're just as much a financing company as you are selling new systems.” — Chad Peterman [17:34]

• On Offering Financing Casually:
  “Make it part of your introduction. You know, just... say you offer it so that way when you do get to kitchen table, it's not awkward.” — Erica [22:00]

• On Not Assuming Customer Financial Position:
  “Don't assume. Don't assume they want or don't want it, you just mention it. It's just part of your script.” — Erica [28:02]

• On Overcomplicating Financing:
  “Keep it short, keep it simple. You're only offering three to five options... everybody can learn it and learn how to pitch it.” — Erica [39:05]

• On the Human Side of Financing:
  “When you make a customer feel good and comfortable and that they're the hero and they're in control of things, that's really kind of what financing does.” — Erica [13:29]

• Chad on True Impact:
  “As we learned about it, it literally changed the trajectory of our business.” — Chad Peterman [26:31]

Timestamps for Important Segments

• [05:31] — The importance of presentation and training in financing success.
• [10:17] — Economic outlook and why financing is even more vital.
• [12:54] — Most popular consumer financing options.
• [14:56] — Explanation of soft credit pulls.
• [15:34] — Using pre-approval texts as a sales strategy.
• [22:00] — How and when to introduce financing during the customer journey.
• [23:27] — Misconceptions contractors have about offering financing.
• [39:05] — Pitfalls: offering too many financing options.
• [41:24] — Financing small repairs and the evolving mindset.

Actionable Takeaways

• Integrate financing into every customer conversation—don’t make it awkward or an “if needed” option.
• Educate your team at every level, from CSR to tech, so they can confidently discuss and offer financing.
• Track financing declines by lead source to optimize your marketing quality.
• Start simple: Master three financing options before expanding your offerings.
• Never assume your customer’s financial capacity—always give them the option.

Contact & Resources

• Connect with Erica Lenore (GoodLeap): Find her on LinkedIn or through Peterman Brothers/Redbird Roofing sites.
• GoodLeap: Partnering on HVAC, plumbing, roofing, electrical financing solutions.

Closing Thoughts

If you’re not currently offering—or confidently presenting—financing options, you’re leaving money on the table and missing opportunities to better serve your customers. Make financing your salesperson’s best friend, educate your team, simplify your offerings, and watch your close rates rise.

“If you’re not offering financing, you are selling yourself short.” — Chris (Host) [47:15]