In the last few weeks, several executives lamented losing some of their salespeople to competitors. They were upset because the originators had been courted with outrageous sums of money — an unsustainable strategy for any company’s long-term success. They wondered why their former employees did not recognize the risk and opted for short-term gains with […]
When I ask sales executives what their biggest challenges are for this year and the next, the emphatic answer is hiring and retaining sales talent. These managers clearly understand that they are only as good as the quality of their employees. The reality is that in today’s mortgage banking world, it is very difficult […]
At many mortgage companies, it is common practice to purchase leads from lead generation companies and dispense them to branch originators. While an originator’s primary job is to self-source their own leads, mortgage executives know that many originators don’t prospect and need to receive leads to meet company volume goals. When you think about this, […]
When interviewing mortgage banking originators, it is common practice to ask sales candidates to provide their W-2s. Lenders believe W-2s provide proof that the candidate has done the sales volume he or she has claimed. Now, asking about salary history in candidate evaluations is coming under scrutiny by states. As an example, the state of […]
In my sales training sessions with originators, it seems many producers are stuck in a specific role such as selling price or the best service. The problem is there are literally thousands of originators in the marketplace with the same sales strategy. Top producers, however, present themselves differently to new referral sources. They move […]
Mortgage origination is booming —largely thanks to marketplace changes precipitated by Brexit. In my conversations with originators and managers across the country, everyone seems to be having a great summer. However, during a refinance-driven market, it’s easier for companies to ignore poor sales behaviors when customers are contacting originators for a lower rate. This year, […]