Patricia Sherlock – Page 2

Homebuyer Education: The Perfect Opportunity for LOs to Build Trust with Prospects

A new study by Lombardo Homes gives Americans a failing grade on basic concepts associated with home-buying, renovating and building. The survey uncovered significant knowledge gaps and misconceptions about everything from how much it costs to buy a home in 2023, and what it costs to build a home from scratch to home maintenance essentials. Why […]

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Break Out of Your Comfort Zone for Better Sales Results

In the world of sales but especially in mortgage banking, change is inevitable. Success in our industry requires managers and originators to routinely step outside of their comfort zones and adapt their sales strategies and behaviors to better navigate the changing marketplace. Of course, this is easier said than done. Here’s what works: • Self-realization

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3 Steps to Building a Robust Referral Network

In today’s volatile mortgage environment, loan originators must increase their referral sources if they want to generate enough business to succeed long-term. But, connecting with potential partners and borrowers is easier said than done with so many LOs competing in an already crowded marketplace. Here’s what works: • Embrace social selling – Top originators understand

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3 Ways to Make Sales Training Stick

It’s a no-brainer: The better trained sales professionals are, the more likely their lenders will be successful. But every day, managers are pouring time, energy and precious training dollars into sales initiatives that don’t work. Here’s what does: • Live sales training – Many programs use previously recorded video content that does not enable students

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Don’t Let Poor Communication Torpedo Borrower Satisfaction

There’s a misconception that top sales professionals possess the “gift of gab.” But the reality is much more complex than that. The best loan originators in the biz are excellent communicators who understand how to connect with borrowers and referral sources in a way that inspires loyalty and trust. Why it matters: • Stratmor Group’s

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WalletHub Study: Best U.S. Cities to Raise a Family in 2023

WalletHub’s new study on the best cities to raise a family in the U.S. reveals fresh insights on what borrowers are looking for when setting down roots and where they might be moving. Here’s a closer look: • The report noted that families move often and for various reasons, both good and bad. For example,

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3 Keys to Better LO Retention and Satisfaction

More mortgage industry professionals are living paycheck to paycheck according to a May 2023 study conducted by Everee, a payroll technology firm. The 2023 Mortgage Industry Commission & Retention Report identified key insights about managers, LOs, processors, underwriters and other commission-based mortgage banking employees. Here’s a closer look: • 6 in 10 mortgage professionals are

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Housing Affordability Crisis Hits These Buyers Hardest

To be sure, the housing affordability crunch has hit potential homebuyers nationwide but a new joint report from the National Association of Realtors (NAR) and Realtor.com reveals that one particular group has been impacted more than any other – middle-income buyers. Why it matters: • The report found that middle-income buyers – households earning $75,000

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3 Critical Questions to Position LOs for Success

In mortgage banking, referral sources are the lifeblood of sustainable success for originators. But, before your sales team reaches out to potential partners and borrowers, they must answer fundamental questions about themselves and their target audience to effectively connect. Here’s a closer look at what LOs need to know: • Question 1: What makes you

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Can Home Equity Lending Products Ease Market Gridlock?

Rising interest rates, limited inventory and the housing affordability crunch have made origination tougher in 2023. But, some lenders and LOs are finding relief from marketplace gridlock by offering home equity lending products – a customer-centric move that can pay off in the long run. Why it Matters • Black Knight Inc. reported that 80%

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