Every salesperson has heard the old adage, “What matters in selling is who you know.” While this saying has been around forever, the state of selling has moved to who knows you. This means that an originator must become top of mind among prospects and referral sources in their territory. No longer is it enough […]
Mortgage banking originators’ lack of social media use is a mystery. While there are some banks and credit unions that will not allow originators to use social media for marketing purposes, there are many lenders that will let them use it. So, why aren’t more originators taking advantage of these tools? What I find interesting […]
Lenders and their originators have long used TV, radio, direct mail, and print ads to get their message out to potential buyers. In the past, these standard marketing tools worked well, but today they are overshadowed by social media content marketing that is driving higher rates of engagement and generating more leads. Research indicates that […]
Most originators understand that their job is to influence prospects to buy their products and services. Whether it is targeting a new referral source or a borrower, all sales professionals face the same challenge: To move prospects from “I’m not sure” to “Yes, I want to make a change.” Influencing is at the center of […]
In a recent conversation with a branch manager, I asked if his originators were using video in their selling process. The manager sighed and answered, “Not really. They only use it when I create the video for them.” As a social selling trainer, I’m not surprised. I often work with sales professionals who are resistant […]
While social media is one of the most talked about subjects in selling, relatively few salespeople are using this sales tool consistently and effectively to generate loan demand. The most common excuses I hear from producers who aren’t taking advantage of social media are “I’m too busy” and “I wanted to but other things came […]
In today’s selling environment, having an initial conversation or setting up a face-to-face meeting with a prospective buyer is more difficult than ever. Wary of salespeople, consumers aren’t interested in talking to someone they don’t know. Whether the outreach is to a referral source who already has a lender relationship or a consumer who doesn’t […]
Originators will often claim that a niche product, flexible underwriting or the latest mobile app is integral to their sales success. In my view, there is another factor that is often overlooked: Top salespeople have strong referral source and customer networks that they work consistently. It is probably no surprise that the very best originators […]
When speaking to originators and their managers, I hear frequent complaints about how tough origination is now. Many executives lament that their usual marketing efforts aren’t working as they once did. Unfortunately, many are still using a “spray and pray” approach to marketing. This strategy involves distributing mass marketing pieces and hoping that the message […]
Last week at the NY Secondary Market conference, most of the sales executives I met with asked, “What is the most important issue going forward for the industry?” My response I think will be surprising to many. While improving the manufacturing part of the process is important and long overdue, I believe our real challenge […]