How to Master Remote Selling Skills

  With recent interest rates at historic lows, originators haven’t had to worry about perfecting their selling skills because customers have come to them in droves. At the same time, Covid-19 restrictions have prompted consumers to shop remotely for food, cars, and everything in between. In response, businesses have quickly rolled out applications and delivery […]

Zillow’s Move to Salaried Real Estate Agents

  Recently, Zillow announced that it was hiring its own employees to be real estate agents. While Redfin pioneered this approach, other firms such as Opendoor and Offerpad are also hiring agents for their new brokerage services. Mike DelPrete, a well-known real estate tech strategist, observed, “All the largest real estate disruptors are moving in […]

Four Keys to Working Smarter

Last week, I spoke to a leading sales group in mortgage banking on what it will take for lenders and originators to succeed in 2025. I realize that it is hard to focus on the future when the present is so hectic in mortgage origination but, 2025 is only 1,500 days from now. It will […]

The Flaws of 100% Commission Pay Plans

The 100% commission pay structure has long been considered the gold standard in mortgage lending as the best way to motivate originators to generate more volume.  Implicit in a 100% commission pay structure is that a large reward is available for sales professionals who do well. Lenders assume that originators who fail to perform will […]

Why Large Mortgage Firms Need to Issue Annual Diversity & Inclusion Reports

  Last week, PricewaterhouseCoopers (PwC) announced its first-ever Diversity & Inclusion Transparency Report. According to a recent Fortune article, “women and racially diverse talent now account for 65% of [PwC] entry-level hires, 7% of whom identify as Black, 12% as Latinx.” Shannon Schuyler, PwC Chief Purpose and Inclusion Officer, said the company’s goal is to […]

What Car Salespeople Can Teach Originators

Last week, shock waves rippled through mortgage banking after 50 basis points were unexpectedly added to refinance loan fees. This action took a lot of lenders by surprise and sent many originators into panic mode. This is yet another example that the business world is filled with events that can seemingly come out of nowhere. […]