Patricia Sherlock

When asked to describe their company, a number of mortgage executives respond that they’re “like a family.” While this sounds good and was perhaps true in the past, the “family” model is virtually non-existent in today’s workplace environments. Consider that the “family” employment model was supported by an era of stability. During this time, companies […]

Last week, I was in Florida training managers on how to coach and develop originators. The experience made me think of Disney and how they are so successful at delivering excellent customer service. I must reveal that I have been interested in Walt Disney for many years, especially in how he was able to transform

In the past, mortgage origination was an arena where the lender had all the information and the customer did not. As an example, interest rates were not easily obtained or understood and underwriting criteria was a complete mystery. In short, lenders and their sales staff had Aces and the borrower had Kings. Not a winning

Recently, when visiting sales organizations, I have had conversations with senior managers regarding their sales culture and what to do when it becomes dysfunctional. The frequent issue at many companies is “mad dog” sales producers fighting with operations staff. Typically, the argument centers on who is at fault for failing to deliver on a borrower’s

In recent visits to mortgage companies, I am often asked how management can quickly propel their company to the next level. The simple truth is that bringing in the right talent is the number one strategy that leads to a company’s success. Equally important is the second strategy — hiring salespeople who feel compelled to

Everyone realizes that selling has changed — products are commodities and buyer choices are extensive. The value of products and services has declined since buyers perceive they can get them from many providers. For instance, once Apple came out with its iPhone, a slew of competitors surfaced. There are always others who will jump in

Last week, the MBA published its first quarter performance report for 2014 and the results were alarming in many ways. Production volume declined generating a loss of $194 per loan. Total production expenses increased from the previous quarter to $8,025 per loan — the highest ever recorded. Personnel costs accounted for 63% of total production

A recent MSN Real Estate article described the state of the industry for real estate agents and the picture is not pretty. Technological advances and more knowledgeable consumers who are demanding discounts have left real estate agents embattled. One New Jersey broker-agent observed, “There are twice as many agents pounding the street but in the

When I’m in the field, the most frequently asked question I get is “What can originators do to increase sales today?” The advice I give is from Rich Conlow’s Superstar Sales which I think is right on target in terms of what really turns around sales performance. 1. Talk to more prospects each day. Sounds

Last week, I attended the MBA’s Secondary Market conference in New York City. My discussions with many of the attendees centered on two themes: why Gen Ys prefer renting to buying and how to increase production. Both topics I think lead to a broader question for managers: Do you have a sales professionals who can