Every day there is a new announcement about how this technological tool or that will solve a lender’s production problems. A lot of dreams get crushed and money lost when invariably, the technology doesn’t change sales results. Whether it is Salesforce.com or another vendor, senior sales managers are often disappointed when installing a CRM system […]
Why CRMs Fail to Improve Sales Results Read More »
All is not well in the world of mortgage origination. Managers and executives know this. Even top originators will voice their concerns about the position over cocktails at conferences. It seems that the Emerald City may be fading. Some mortgage consultants will say that the ops side of mortgage companies is getting so much better
Why an Autonomous Originator Model Doesn’t Work Read More »
In recent conversations with sales managers, I’m surprised to hear how many originators do not know the basics of selling. One executive was particularly stunned when he asked originators what percent of the real estate agent’s business they were getting. They had no clue where they stood with referral sources! Another executive said when he
Do Your Originators Know Their Selling Basics? Read More »
When I ask senior managers if they think their companies encourage retention of low performers, they respond, “No way! That would be crazy!” But, when I ask why so many branch managers are slow to fire underperformers or why we have so many originators doing less than 2 units a month, senior managers cite a
Why the Producing Manager Sales Model Needs to Change Read More »
When speaking or consulting, I am often asked, “What is the number one activity that will turn around a sales force?” The right answer has three parts: Hiring right, which I discuss often in my weekly blog; having quality first-line managers and training them on how to manage and coach; and setting performance standards for
Do You Know the Law of Large Numbers? Read More »
Recognition is a key component of retaining your originators. In today’s market where every company is looking for salespeople, it is amazing how few managers don’t bother to say “thank you” to their employees and especially to their top producers. During consulting engagements, I often hear top originators lament that they are made to feel
The Most Powerful Form of Recognition 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 »
In 2015, the retention of top producers (the top 10% of a sales force) will once again be a critical issue for many sales organizations. Losing top performers has a negative impact on a company that reaches far beyond lower volume. A top performer’s presence in a market is not easily or quickly replaced. Studies
Start the New Year Off Right: How to Keep Your Top Producers Read More »
