We are living in interesting times where fact is fiction and fiction is fact. Whether it is COVID-19 protocols or the idea that everything will go back to “normal” after this upheaval, there are a lot of assumptions and misconceptions that will impact our future course. The new reality for mortgage bankers and all businesses […]
I know there is a robust refinance market going on and the Fed just moved to zero. So, why do I want to discuss how to increase sales results when originators have more business than they know what to do with? The reality is that at some point, the unprecedented decline in interest rates […]
The “do whatever it takes” sales strategy — a common mantra in mortgage banking — is often promoted as the best way to be successful in selling. This is no surprise when originators are on 100% commission and sales results drive their income. Many managers believe that each producer determines his or her own success […]
In recent conversations with mortgage sales managers, many lamented that senior managers at their companies don’t want to hear the truth about potential issues. According to the sales managers I spoke with, senior executives only want to hear how wonderful everything is and that nothing needs to be improved. Furthermore, these sales managers said […]
In financial investing, there is a debate that has gone on for years: Can a non-expert or someone who randomly throws darts at a list of financial stocks make better stock picks than a professional money manager? Known as the “dumb money” strategy, this approach was made famous by Princeton University professor Burton Malkiel. In […]
Change is a topic that is discussed every day in the business world. Whether it is a better way to manage stress or learning social selling techniques, adopting new habits is essential if an originator wants to succeed in mortgage banking. For most of us, the hard part is making the necessary adjustments in […]
When conducting training on lead generation, I often see originators who are not good speakers in front of a group. Some originators think they don’t need this skill set. Others think they are good at it when frankly they are not. The current environment requires scalable marketing efforts and effectively communicating to groups—whether in person […]
Every salesperson has personally experienced how dramatically selling has changed in the last five years. Prospects don’t answer their phones or respond to emails as they once did. This is a daily fact of selling life and is very frustrating, especially for veteran originators. Considering the difficulty accessing prospects in the current marketplace, it is […]
“Experts Win on Value — Generalists Die on Price” is a quote by well-known marketing guru David Newman, who I think is a smart sales consultant. Similar to Seth Godin, Newman is right on the money when it comes to succeeding in today’s attention-deficit selling world. Newman contends that selecting a niche or specialty and […]
Every day, sales professionals experience how the customer’s buying journey has changed. This is not unique to mortgage banking but is true across the entire retail landscape. Whether a company is selling widgets or lending products, the world of customer purchasing has undergone a dramatic transformation. As a result, the traditional sales techniques for […]