The Invisible Killer of Mortgage Sales Groups

During a recent conversation, a manager discussed how his company was handling an underperforming originator. The lender’s solution was to take away the individual’s draw and benefits but compensate the salesperson for any loans brought in. The manager felt that this approach was a great way to reduce the lender’s costs and address the problem […]

The Branch Originator Sucker Bet  

In my opinion, placing an originator in a bank or credit union branch office is a sucker bet. For those unfamiliar with the gambling term, it is a wager in which the expected return is lower than the wager. An example of a sucker bet is the offer of insurance in blackjack. Why is the […]

The Conundrum of Meeting Expectations

For years, mortgage banking managers have measured success based on whether the salesperson met the buyer’s expectations. In my opinion, this thinking is outdated because in today’s world of selling 3.0, simply meeting customer expectations is by definition mediocre.  Yes, mediocre. A mediocre customer experience is not enough to instill the loyalty needed to generate […]

Why Having a Tribe Matters in Sales Success

Two weeks ago, another national lender announced that it was closing its consumer direct business due to unprofitability. The organization’s sales approach was to buy leads and try to refinance them. This marketing approach is expensive and as a result, the company couldn’t cover the costs involved with bidding for leads. Five years ago when […]

Are You Willing to Be a Disruptor?

    As a sales organization “fixer,” I see first-hand how companies are defining their current sales problems in terms of external events such as rising interest rates, compressed margins and too many regulations. In my opinion, this outward focus masks the real issues why a company fails to implement essential changes. Too often, change […]

Redefining Market Presence in Mortgage Banking

Since time immemorial, selling has been defined by having a physical location. Whether in movies, books or on TV shows, the salesperson has typically been portrayed as someone who travels to a market and physically visits a customer or potential prospect.  Similarly, a sales manager’s primary job has been to take the map of a […]