Last week, I discussed highlights from Quicken’s IPO and how the company has achieved record growth by having a defined sales process; and training and developing employees. While these are certainly not new concepts, they are rarely practiced at mortgage banking firms. While a number of lenders claim to provide employees with a structured […]
How to Conduct Training According to Quicken Read More »
Selling is an emotional business that requires sales professionals to have a high level of emotional intelligence if they want to succeed. Emotional intelligence refers to originators’ ability to recognize, understand, and manage their emotions as well as those of their prospects and customers. This is not news. While sales candidates might be attracted to
Sales Success Starts with “Know Thyself!” Read More »
The most common selling mantras are based on the concept of “doing more.” Managers have forever emphasized that if originators simply work harder, knock on more doors or make more calls, sales success is guaranteed. While this sounds reasonable, it is not correct. It takes something else to succeed in origination. In selling, the “doing
Why Working Smarter is the Best Bet Read More »
Change is a topic that is discussed every day in the business world. Whether it is a better way to manage stress or learning social selling techniques, adopting new habits is essential if an originator wants to succeed in mortgage banking. For most of us, the hard part is making the necessary adjustments in
Baby Steps: The Best Way to Make Selling Changes Read More »
Every salesperson has personally experienced how dramatically selling has changed in the last five years. Prospects don’t answer their phones or respond to emails as they once did. This is a daily fact of selling life and is very frustrating, especially for veteran originators. Considering the difficulty accessing prospects in the current marketplace, it is
Are Your Originators Still “Telling and Selling”? They Need to Stop! Read More »
Every day, sales professionals experience how the customer’s buying journey has changed. This is not unique to mortgage banking but is true across the entire retail landscape. Whether a company is selling widgets or lending products, the world of customer purchasing has undergone a dramatic transformation. As a result, the traditional sales techniques for
Strategic Inflection Points: What is the Best Strategy? Read More »
When I am conducting sales training at lenders, it is clear that originators are asked to perform an inordinate number of duties that are not selling activities. The typical lender expects originators to generate their own business; put a file together; follow up with customers; and retain the customers once the loan has closed. If
Why It’s Time to Change Originator Responsibilities Read More »
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
Becoming the Next “American Idol” Originator Read More »
In today’s volatile financial marketplace, lenders and their originators must position themselves as different from their competitors if they want to be successful. This reality is challenging everyone to abolish a “being average mindset” in delivering their services from prospecting to closing. Not doing so is a ticket to becoming irrelevant. Obviously, differentiating yourself
If Nothing Changes, then Nothing Changes Read More »
Last week on David Lykken’s “Lykken on Lending” podcast, I discussed what it will take for originators and their lenders to succeed in 2019. During the program, a listener asked what to do with employees who refuse to learn new selling techniques. At a time when many companies and originators are struggling, I get this
What Separates Successful Originators from Others: Being a Permanent Beta Read More »
