Who Are Originators’ Priority Customers?

At a recent leadership conference, I asked who makes up an originator’s customer base. It might seem obvious that producers know who their priority customers are, but you would be surprised at the answers I received when speaking on this topic. Most originators think it is borrowers while top producers view referral sources as their […]

Mortgage Banking’s Hot Hand Fallacy

Recently, I saw the Academy Award-nominated film The Big Short which was based on Michael Lewis’s book about the build-up of the housing and credit bubble that caused the mortgage industry’s collapse in the mid-2000s. This was a terrific movie that took on a difficult and complex topic. The film doesn’t paint a very pretty […]

What is the Minimum Number of Referral Sources?

In reviewing sales originators’ pipelines, it is clear to me that better performers originate business from more referral sources than poorer performers. This doesn’t matter whether it is a retail or third-party originator — the trend is consistent. In the past, originators could make their budgeted goals with just a handful of referral sources. Today, […]

The Little Things Really Matter in Sales

When training originators, part of my preparation is to view students’ LinkedIn profiles so I am familiar with their backgrounds. Time and time again, what I see are profiles that are poor or unprofessional with photos that might include the salesperson’s wedding day or his or her pets. This may seem funny but I find […]