If your LOs are not actively courting Latino home loan prospects, your lender could be walking away from massive profit potential, according to the latest stats from The National Association of Hispanic Real Estate Professionals® (NAHREP). Why it matters: • The Hispanic homeownership rate has risen to 48.6% – marking 8 years of steady homeownership […]
It has long been documented that videos outperform static images and posts when it comes to reaching your target audience. But, now more than ever, if you want to connect with borrowers and referral sources, video content should be a priority in your social selling mix. Why it matters: • Increased video demand. The majority […]
In mortgage banking, it seems to be a perpetual question: “How do I motivate LOs in a tough market?” The short answer is you can’t. Motivation is an inside job. But, good managers CAN create a positive environment that supports their team’s efforts to hit their sales goals. Here are the details: • Hire right. […]
Originators who want to achieve long-term success should take a page from top producers’ playbooks and strive to serve their customers as professional financial advisors. Why it matters: • Earn multiple income streams. Top producers view borrowers as an opportunity for multiple income streams, not as a single transaction. For them, closing on a loan […]
Top producers understand that their existing customer base is a gold mine for referrals and future revenue. The best in the business are masters at connecting with previous clients in meaningful ways that ultimately position them as valued financial advisors. Here’s a closer look at proven tactics LOs use to leverage their sphere of influence: […]
Millennials’ dream of homeownership is alive and well, according to a recent Lending Tree analysis of mortgage offers on its platform. If your LOs aren’t actively courting these potential borrowers, your sales team could be missing out on bigger, better sales results. Why it matters: • Millennials – those born between 1981 and 1996, or […]
An increasing number of home loan prospects – about 25% – find their lender online, according to Zillow Group’s Consumer Housing Trends Report 2021. This means LOs must be adept at transforming leads from initial contacts to satisfied customers. Zillow recommends several tactics for optimum success. Let take a closer look: • Act fast. Once […]
Not unlike winter-weary gardeners eager for signs of spring, mortgage managers and LOs are keeping watch for better days in the housing marketplace. According to recent research from Redfin, housing recovery may be in the air. Let’s take a closer look: • Taylor Marr, Redfin chief deputy economist, noted that the company’s Homebuyer Demand Index, […]
There are many requirements for great mortgage banking leaders but one of the most important is exceptional communication skills. In his recent Harvard Business Review article, author Carmine Gallo recommends four strategies to level up your communications with your sales team. Here’s a closer look: • Simplify your language when discussing or writing about complicated […]
I’ve long held that success in mortgage origination requires implementing the right sales tactics on a daily basis. This sentiment is echoed by Dustin Owen, Vice President, East Division Sales at Waterstone Mortgage Corp. and the host of “The Loan Officer Podcast,” who recently discussed his winning sales strategy, “Dominate the Ones,” in a HousingWire […]