Patricia Sherlock – Page 17

Why Quality Mortgage Processors Are Essential to Sales Success

I often write about what it takes for originators and managers to succeed in an ultra-competitive mortgage environment. Today, I want to discuss another person on the sales team who is indispensable – the mortgage processor. While mortgage processors are thought of as working behind-the-scenes, they are primary drivers of an excellent customer experience. The […]

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Sales Success in the Best of Times and the Worst of Times

During a recent training session on recruiting originators, I described our current mortgage environment as the “best of times and the worst of times.” The famous quote from Charles Dickens’ “A Tale of Two Cities” offers fresh insights for managers and originators trying to determine the best course of action for sustainable sales success. It

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Sales Success Starts with “Know Thyself!”

Selling is an emotional business that requires sales professionals to have a high level of emotional intelligence if they want to succeed. Emotional intelligence refers to originators’ ability to recognize, understand, and manage their emotions as well as those of their prospects and customers. This is not news. While sales candidates might be attracted to

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Why Working Smarter is the Best Bet

The most common selling mantras are based on the concept of “doing more.” Managers have forever emphasized that if originators simply work harder, knock on more doors or make more calls, sales success is guaranteed. While this sounds reasonable, it is not correct. It takes something else to succeed in origination. In selling, the “doing

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Do You Really Want to Be a Successful Originator?

Every crisis provides an opportunity for mortgage managers to put everything on the table and re-examine their LOs’ selling models as they determine the best path forward. One manager recently said to me, the pandemic has changed everything and “inmates are no longer running the asylum in mortgage banking.” Of course, this may not be

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Winning in a Period of “Optimum Warning”

While lenders are super busy now, many in our industry are wondering what mortgage lending will look like after the pandemic is over. Will we return to “business as usual” or will the environment be completely different? I believe it will be the latter. For managers with 20 years or more left to work

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“Lone Wolves” Starve to Death

A mortgage banking executive recently asked me what distinguishes more successful managers from their peers. This was easy to answer. In my experience, managers who get promoted to the highest levels surround themselves with their own personal “board of directors” who help them achieve their goals. Every manager has strengths and weaknesses. More successful managers

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Can You Provide Prospects with 50 Reasons to Buy from You?

In my sales training programs, one of the most important exercises I use is “50 Reasons Why People Should Buy from You.” When I ask originators why prospects should do business with them, most students cannot come up with more than a handful of reasons — let alone 50. Once they move beyond the standard

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Five Key Questions Originators Must Answer

Researchers estimate that 95% of consumers’ buying decisions are driven by emotions. While most people believe they are rational and make decisions weighing all the evidence, the reality is very different. Many salespeople recognize this but inevitably, there are producers who claim their customers are different and more price-sensitive than other consumers. If you take

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