Becoming the Next “American Idol” Originator

While social media is one of the most talked about subjects in selling, relatively few salespeople are using this sales tool consistently and effectively to generate loan demand. The most common excuses I hear from producers who aren’t taking advantage of social media are “I’m too busy” and “I wanted to but other things came […]

Three Action Steps for Effective Prospecting

In today’s selling environment, having an initial conversation or setting up a face-to-face meeting with a prospective buyer is more difficult than ever. Wary of salespeople, consumers aren’t interested in talking to someone they don’t know. Whether the outreach is to a referral source who already has a lender relationship or a consumer who doesn’t […]

“White Lies” that Drive Low Retention

Recently, an originator asked me for advice about changing lenders. The grievances that the originator had with the current lender centered on three issues: Failure of the lender to have a consistent follow-up system or CRM to contact the originator’s previous customers and expecting the originator to do it on their own. Failure to give […]

“Spray and Pray” Marketing is Dead

When speaking to originators and their managers, I hear frequent complaints about how tough origination is now. Many executives lament that their usual marketing efforts aren’t working as they once did. Unfortunately, many are still using a “spray and pray” approach to marketing. This strategy involves distributing mass marketing pieces and hoping that the message […]