Mortgage boom or bust cycles are nothing new. But what’s different about our current marketplace involves the degree of fluctuation we’ve seen in the last few years. A recent Visual Capitalist infographic clearly illustrates the industry’s epic shifts and hints at the challenges ahead. Key findings include: • The U.S. 30-year fixed-rate mortgage reached its …
Visual Capitalist Charts Mortgage Banking Highs and Lows Read More »
Procrastination. It happens to every mortgage manager or LO at some point or another no matter how dedicated and driven they are. Whether it’s coaching your team or making prospecting calls to Realtors, putting off important tasks can throw a wrench in the works and negatively impact your bottom line. Fortunately, there are simple steps …
How to Push Past Procrastination and Achieve Your Goals Read More »
Storytelling is one of the most powerful tools originators have to engage prospects and referral sources. The best producers incorporate storytelling into their sales presentations to forge stronger relationships and persuade borrowers or referral sources to work with them. Why it matters: • Stories Have Universal Appeal – We live in a world where consumers …
Storytelling: The Key to More Powerful Sales Presentations Read More »
The barriers to homeownership remain significant according to the latest NAR surveys of Realtors and potential borrowers. Lenders and LOs are challenged to overcome these obstacles if they want to grab their share of a shrinking market and generate revenue. Here’s what you need to know: • Limited housing inventory, high interest rates and high …
Barriers to Homeownership: How to Bridge the Gap Read More »
With the recent release of ChatGPT and similar applications, artificial intelligence (AI) has hit the mainstream and there’s no turning back. As more consumers rely on AI to help them navigate the home-buying journey, lenders and LOs would be wise to get familiar with what AI can and can’t do and adjust their selling models …
The best mortgage managers recognize that updating their sales team’s selling skills is mandatory if their LOs want to remain top of mind and relevant in the marketplace. However, all sales training is not created equal. If your last training initiative didn’t deliver results, one of these common pitfalls was likely the reason: • One-Off …
Developing a strong personal brand is essential if LOs want to capture the attention of potential borrowers and referral sources. The best originators in the biz are masters at cultivating a powerful online presence that enables them to stay top of mind among their ideal audience. Here’s how your sales team can do the same: …
LOs: Level Up Your Personal Brand for Prospecting Success Read More »
As older, more experienced LOs hit retirement age and exit the business, mortgage bankers are under increasing pressure to hire and train younger sales professionals. To successfully recruit these up-and-coming workers, managers will need to understand the differences between generations so they can bridge the gap and attract new sales talent. Here’s what you need …
Recruiting Younger LOs: Crossing the Generational Divide Read More »
A new study conducted by jeweler Shane Co.’s “The Loupe” reveals fresh insights into the first-time homebuyer market. Loan officers who target these prospects can fine-tune their sales strategies accordingly for better sales results. Here’s what you need to know: • The study found that the average U.S. homeowner rented for 5 years before purchasing …
New Study Reveals Fresh Insights into First-Time Homebuyer Market Read More »
Burnout isn’t just a buzzword. Recent research by McKinsey & Co. indicates that burnout continues to be a persistent threat to productivity for managers and employees alike. The good news? There are steps you can take to prevent burnout and keep your sales team motivated and primed for profit. Here’s what works: • Take microbreaks …
