I have been asking sales leaders the age-old question: Is selling an art or a science? A decade ago, most managers would’ve answered that it was an art. Today, leaders will admit that selling is more science than art. That doesn’t mean that selling is 100% science, but I think that managers recognize that […]
Is Selling an Art or Science? Read More »
On LinkedIn, I see an amazing number of mortgage companies advertising for originators. The recruiting pitches are pretty much the same: “our lender has the best and coolest tools so come and work for us.” The perks lenders tout include their mortgage CRM, laptops, the latest from Encompass, personal landing page, social media tools and
Is Recruiting Success about Who has the Coolest Tools? Read More »
For originators, one of the most frustrating scenarios is working for a micromanager. At some point, everyone has experienced this type of controlling boss — someone who focuses on the details to such a degree that he or she creates an oppressive work environment. Never satisfied with any deliverable, micromanagers love to nit-pick and
Micromanagers and Their Impact on the Sales Team Read More »
Every company has originators who are pleasant, likeable and hit their budgeted goals every once in a while in a strong market. In many ways, these sales professionals are consistent but definitely not stars. These individuals may be helpful but when goals shift higher, they can’t seem to get out of their “comfort zone” and
How to Manage “Comfort Zone” Originators Read More »
This year, there has been no shortage of big name companies that were sold due to failing financial performance. One of the most recent, Whole Foods grocery chain, was purchased by Amazon after succumbing to increased competition in the organic food market and the resulting lower profit margins. Just this past week, Sears announced it
False Assumptions and Mortgage Sales Read More »
For managers, there is no challenge more frustrating than working with originators who have sales talent but are inconsistent producers. In my consulting practice, I often hear senior managers share their personal torment regarding these individuals. Managers feel these producers could be great and have been known to spend countless hours attempting to develop their
How to Manage Inconsistent Originators Read More »
Last week on LinkedIn, an originator lamented that he was being recruited by a number of lenders who claimed to be unique but had nearly identical products and technologies. The originator was searching in vain for a company with more to offer than the same old products and payout pitch. In my consulting practice,
Keys to Improving the Hiring Experience for Sales Candidates Read More »
In today’s tougher origination marketplace, managers are struggling to help producers switch from reactive to proactive selling techniques. Frankly, they are not having much success. In my consulting practice, I find that managers are often mistaken about what really motivates their sales professionals. Many assume that higher basis points, lucrative contests or president’s club trips
What Works In Motivating Originators Read More »
There is no question that the back office in mortgage banking is rapidly changing with the rollout of e-mortgages and Day 1 certainty products. Faster loan processing is becoming an important competitive differentiator with firms promising closing times of two weeks or less. Lenders who do not respond to consumer demand for speed of
Why Digital Personal Branding is Critical for Success Read More »
Not too long ago, producers who originated a couple loans a month could make a decent living in mortgage banking. During the subprime years, it wasn’t unusual for originators to work part-time and generate substantial income due to high payouts. Those days have been over for a while but the industry still has many originators
The Rise and Fall of the Two-Unit-a-Month LO Read More »
