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 […]

The Impact of High Standards on Recruiting and Retention

Like many people who are fans of Warren Buffett’s annual shareholder’s report, I also admire what Jeff Bezos had to say in his annual report to stockholders. This year, the Amazon founder discussed the challenge every company has in meeting customers’ ever-rising expectations. Bezos claims that “it is the nature of human beings to have […]

Customer Satisfaction’s Seven Deadly Sins

One of the hottest topics in mortgage banking is customer satisfaction. Customer satisfaction is a measure of how well the company and the salesperson meets and surpasses the client’s expectations during the loan process. In mortgage banking, one of the keys to excellent customer service is meeting the customer’s closing date. According to Stratmor’s recent […]

Why Originators Don’t Ask for the Business

In today’s more difficult volume environment, higher level selling skills are needed to succeed in mortgage origination. After prospecting, the sales skill I see originators most deficient in is asking for the business from potential clients. Why do originators fail at this essential task after they have invested time and effort presenting to the customer? […]