With the recent release of ChatGPT and similar applications, artificial intelligence (AI) has hit the mainstream and there’s no turning back. As more consumers rely on AI to help them navigate the home-buying journey, lenders and LOs would be wise to get familiar with what AI can and can’t do and adjust their selling models […]
The best mortgage managers recognize that updating their sales team’s selling skills is mandatory if their LOs want to remain top of mind and relevant in the marketplace. However, all sales training is not created equal. If your last training initiative didn’t deliver results, one of these common pitfalls was likely the reason: • One-Off […]
Developing a strong personal brand is essential if LOs want to capture the attention of potential borrowers and referral sources. The best originators in the biz are masters at cultivating a powerful online presence that enables them to stay top of mind among their ideal audience. Here’s how your sales team can do the same: […]
As older, more experienced LOs hit retirement age and exit the business, mortgage bankers are under increasing pressure to hire and train younger sales professionals. To successfully recruit these up-and-coming workers, managers will need to understand the differences between generations so they can bridge the gap and attract new sales talent. Here’s what you need […]
A new study conducted by jeweler Shane Co.’s “The Loupe” reveals fresh insights into the first-time homebuyer market. Loan officers who target these prospects can fine-tune their sales strategies accordingly for better sales results. Here’s what you need to know: • The study found that the average U.S. homeowner rented for 5 years before purchasing […]
Burnout isn’t just a buzzword. Recent research by McKinsey & Co. indicates that burnout continues to be a persistent threat to productivity for managers and employees alike. The good news? There are steps you can take to prevent burnout and keep your sales team motivated and primed for profit. Here’s what works: • Take microbreaks […]
A new study by Lombardo Homes gives Americans a failing grade on basic concepts associated with home-buying, renovating and building. The survey uncovered significant knowledge gaps and misconceptions about everything from how much it costs to buy a home in 2023, and what it costs to build a home from scratch to home maintenance essentials. Why […]
In the world of sales but especially in mortgage banking, change is inevitable. Success in our industry requires managers and originators to routinely step outside of their comfort zones and adapt their sales strategies and behaviors to better navigate the changing marketplace. Of course, this is easier said than done. Here’s what works: • Self-realization […]
In today’s volatile mortgage environment, loan originators must increase their referral sources if they want to generate enough business to succeed long-term. But, connecting with potential partners and borrowers is easier said than done with so many LOs competing in an already crowded marketplace. Here’s what works: • Embrace social selling – Top originators understand […]
It’s a no-brainer: The better trained sales professionals are, the more likely their lenders will be successful. But every day, managers are pouring time, energy and precious training dollars into sales initiatives that don’t work. Here’s what does: • Live sales training – Many programs use previously recorded video content that does not enable students […]