Every salesperson knows the metaphor of low-hanging fruit. In sales origination, it means the easiest or simplest way to generate volume. These are the most obvious opportunities because they are readily achievable and do not require a lot of effort. In mortgage banking, refinances have provided low-hanging fruit for a long time. The problem is […]
Do You Know the Number One Problem in Mortgage Origination? Read More »
Many originators and managers will readily admit that the current market is competitive but when asked specifics, the majority —especially at the originator level — cannot explain the marketing position of the competition and its local originators. When managers fail to instill a discipline of knowing your competition inside and out, the inevitable result is
Are Your Originators Performing Competitive Analysis? Read More »
Since the 1980’s the most popular sales training method has been on needs-based selling. Even today, many mortgage companies teach this approach to originators as a tactic for prospecting for brokers or referral sources. The trouble is that needs-based selling is no longer effective in a world where buyers have unlimited access to
Still Using Needs-Based Sales Training? Read More »
It is no secret that that all phases of mortgage origination are undergoing dramatic change. Whether its new regulations or customer buying habits, everything is in a state of flux and the old ways of origination are under scrutiny. For example, does it make sense to have a distributed sales model when customers want answers
The Importance of Quality Processors Read More »
Whether you manage a team of originators or run a mortgage company, the critical issue is always how to move the group to the next level or scale the business. Of course, riding the wave and hoping for the best might work for a while but at some point, selecting a strategy becomes the most
Scaling your Sales Team for Growth Read More »
Coaching is certainly a popular management term in business today. Every company says that they have a coaching culture, but many times it is fiction and not fact. In my consulting practice what I see is a lot of talk about coaching, but not a lot of action. If a sales organization is really serious
How to Implement a Coaching Culture Read More »
Similar to sports and other competitive efforts, in selling the difference between winning and losing is very small. The difference between being first or second often comes down to a fraction of a second in a horse race or making a few putts over four days of competition in golf. This law of incremental differences
Do Your Originators Sweat the Small Stuff? Read More »
Last week, I discussed the four horsemen of business success —being faster, better, cheaper and friendlier and how this challenge has faced companies and their leaders for centuries. As Sydney Harris, a well-known journalist for the Chicago Sun-Times, aptly said “our dilemma is that we hate change and love it at the same time; what
Are You a Change Leader? Read More »
From the beginning of time, business has always looked for ways to do things faster, better, cheaper or friendlier (the four horsemen). Just as my grandparents saw the automobile and airplane industry develop and I have seen the computer and communication industry go from zero to incredible, the next generation will experience even more technological
Are You Ready for the Four Horsemen of Business Success? Read More »
In this current environment, many mortgage companies are continuing to experience high turnover. Managers believe that the primary reason originators leave is for more money. While this may be true for a small percentage, research shows that the majority of originators who change companies (80-90 percent) do so for reasons other than money. Studies show
The Real Reasons Originators Leave Read More »
