Since there has been so much discussion this past year on whether technology will replace originators, I thought I would share my niece’s experience purchasing her first home. What made all the difference? Her loan officer! My niece got married last June at age 36. She has wanted to own a home for a while […]
What First-Time Home Buyers Need Read More »
This year, prospecting for new referral sources or brokers has been one of the most frequently requested topics in my sales training sessions. There is no question that lack of referral sources is directly linked to low volume for originators. Having a handful of referral partners is no longer enough to succeed in the current
Convincing Prospective Referral Sources: “Why Change Now?” Read More »
When I ask executives about the role of the loan officer, many answer that the originator’s job is to take the loan application and match the customer with the right product that the consumer qualifies for. There is no question that this is an important function but in my view, originators must do more to
Do Your Originators Sell Supply or Create Demand? Read More »
In the 1960’s, Hanna-Barbera produced an animated sitcom TV show called “The Flintstones” depicting family life in the pre-historic days. In this fantasy version of the past, cavemen co-exist with dinosaurs and other long-extinct animals such as saber-toothed cats, and woolly mammoths. Like their mid-20th century counterparts, these cavemen listen to records, live in split-level
Are Your Originators Jetsons or Flintstones? Read More »
Every manager knows the truism that “what gets measured gets managed.” In the past, analyzing performance metrics with any accuracy was difficult at best. To determine whether an originator was good or not, managers have traditionally relied on month-end loan volume as an indicator. Today, with CRMs and other sales technologies, senior management can
Leading Indicators Provide Real-time Feedback for Success Read More »
Recently, the National Association of Realtors published survey results on broker’s key challenges. I have listed a few highlights that I think have important ramifications for anyone in housing finance: • The top three challenges that real estate brokers anticipate in the next two years are: 1. Keeping up with technology 2. Maintaining an adequate
What Percentage of a Realtor’s Customers come from Referrals? Read More »
During my recent training class on prospecting, participants discussed, “What do Realtors really want from originators?” An excellent place to find answers to that question is on ActiveRain, an online community of real estate professionals who write blogs, exchange best practices and share information. One post from a Texas Realtor revealed important insights on what
What do Realtors want from Loan Officers? Read More »
Right now, sales organizations are heading into the final stretch to make year-end goals. While time is moving fast, it is not too late to look at what might be holding your sales team back from optimum performance. When conducting sales improvement audits, I see three primary reasons why a group is underperforming: Lack of
Three Causes of Weak Sales Performance Read More »
The best salespeople know that positioning themselves as trusted advisors is key to sales success. During consulting engagements when I am reviewing sales calls, I find that originators will often dominate the conversation with talk about themselves and their products and services. The problem with this approach is that it does nothing to build
Why Originators Must Position Themselves as Trusted Advisors Read More »
I have been asking sales leaders the age-old question: Is selling an art or a science? A decade ago, most managers would’ve answered that it was an art. Today, leaders will admit that selling is more science than art. That doesn’t mean that selling is 100% science, but I think that managers recognize that
Is Selling an Art or Science? Read More »
