Rookie programs are certainly a hot topic in the mortgage industry. The demographic data is clear that within the next seven years, practically all of the Baby Boomers will be retired, leaving companies with a large deficit in experienced sales staff. The need for rookie originator programs is not only evident but urgent! One serious […]
Branch Managers and Rookie Programs: Match or Not? Read More »
With the pro football season finally underway, the enthusiasm for my team — the Philadephia Eagles — is high. When you haven’t won a championship since 1960, every year could be THE year. This season, I find it interesting that the Eagles head coach Chip Kelly has replaced 40% of his team, even though he
Is There a Leadership Shortage in Mortgage Banking? Read More »
The recent announcement by Wells Fargo and Prospect Mortgage that they were ending their marketing service agreements (MSAs) with real estate brokers has sent a shock wave through management teams. MSAs have been around for years under the justification that placing a lender’s originators in a broker’s office was a way to guarantee sales volume
What Losing MSAs Means to Lenders Read More »
Today, I want to discuss an issue I often see when reviewing a sales team’s performance. I always ask sales managers what training they feel they need to improve their skill sets. The answer I hear most frequently is that they don’t need any training. I find this interesting because an outside consultant is never
Manager Training is Well Worth the Investment Read More »
Whether you manage a team of originators or run a mortgage company, the critical issue is always how to move the group to the next level or scale the business. Of course, riding the wave and hoping for the best might work for a while but at some point, selecting a strategy becomes the most
Scaling your Sales Team for Growth Read More »
Coaching is certainly a popular management term in business today. Every company says that they have a coaching culture, but many times it is fiction and not fact. In my consulting practice what I see is a lot of talk about coaching, but not a lot of action. If a sales organization is really serious
How to Implement a Coaching Culture Read More »
Last week, I discussed the four horsemen of business success —being faster, better, cheaper and friendlier and how this challenge has faced companies and their leaders for centuries. As Sydney Harris, a well-known journalist for the Chicago Sun-Times, aptly said “our dilemma is that we hate change and love it at the same time; what
Are You a Change Leader? Read More »
In this current environment, many mortgage companies are continuing to experience high turnover. Managers believe that the primary reason originators leave is for more money. While this may be true for a small percentage, research shows that the majority of originators who change companies (80-90 percent) do so for reasons other than money. Studies show
The Real Reasons Originators Leave Read More »
What’s the secret to sales success? Happy customers! Yes it really is that simple. Just look at the most successful companies over the last decade (Apple, Google, Zappos). What do they have in common? Customer trust. Customer happiness. Customer delight and focus. Executives will often state that they are committed to the customer, but when
Do You Know the Real Secret to Sales Success? Read More »
In the mortgage industry, the rate of change has been unprecedented in recent years. From regulations and CFPB audits to acquiring referral sources and customers, the business environment is constantly changing and managers can no longer play it safe or settle for the status quo if they want to succeed. As Buckminster Fuller, who created
Does Your Sales Organization Have Enough Change Agents? Read More »
