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 Events – Sales rallies with motivational speakers can provide a quick burst of energy and inspiration but single events aren’t enough to instill new selling skills in the long run. Good training involves repetition, practice and feedback in order for LOs to successfully adopt new sales tactics.
• Outdated Course Content – The prospective borrowers and referral sources your team is trying to reach are constantly evolving. Staying current with the latest techniques is essential if your originators want to attract their target audiences and generate loan demand.
• Lack of Accountability – Even if training teaches the right selling skills and provides ample opportunity for practice, nothing will change unless LOs are held accountable for their sales results.
For additional details, check out my recent blog post, 3 Ways to Make Sales Training Stick.