How to Thrive in a Customer-Centric Economy

  Who owns the customer? This question might sound simple but the answer is really the crux of winning in the information age. Of course, sales will say originators own the customers because they are the front-line interface with consumers and referral sources and deliver the quality of the customer’s experience. On the other hand, […]

Do Your Originators Know Their Selling Basics?

In recent conversations with sales managers, I’m surprised to hear how many originators do not know the basics of selling. One executive was particularly stunned when he asked originators what percent of the real estate agent’s business they were getting. They had no clue where they stood with referral sources! Another executive said when he […]

What the Cost-to-Originate Numbers Tell Us

In recent conversations with mortgage executives, it is clear that many are concerned about how out of whack compensation has gotten for originators today. One major accounting firm that has tracked compensation over the years has said point blank that two thirds of the cost to originate is originator compensation — not a sustainable rate […]

Do You Know the Law of Large Numbers?

When speaking or consulting, I am often asked, “What is the number one activity that will turn around a sales force?” The right answer has three parts: Hiring right, which I discuss often in my weekly blog; having quality first-line managers and training them on how to manage and coach; and setting performance standards for […]

What Siri can Teach Originators

As we near the end of year, the topic of how to “wow” the customer is on the front burner for senior managers who want to win the battle of market share. It is clear that in an era of fickle customers, the old gifts of magnets and calendars don’t have the impact they used […]

Is Your Sales System Based on Best Practices?

As we move into a more difficult sales environment with the Fed lifting-off in the next few months, having a sales system based on best practices is more important than ever. In my consulting engagements, I rarely see sales organizations consistently sharing what has worked in origination. Instead, originators are left to “do their own […]