Employee underperformance is by far one of the hardest issues for mortgage managers to contend with. Managers who hire a poor sales performer are faced with the reality that they did not properly evaluate a sales candidate during the interview process and made a bad hiring decision. Hiring mistakes often occur when managers rush […]
How to Solve the Toughest Sales Management Issue Read More »
If you’ve been in mortgage banking for any length of time, you’ve hired at least one salesperson who aced the interview and met production benchmarks – on paper – but failed to perform past the onboarding process. During my management career, I certainly hired my fair share of candidates who talked a good game and
The Key to Hiring Better Originators Read More »
In a recent article from The MReport, mortgage managers discussed their strategies for selecting and retaining new hires. While many managers easily evaluated sales candidates based on production reports, they often had difficulty trying to assess an originator’s people skills. To help them finalize a hiring decision, managers said they frequently relied on how well
Why Hiring Based Solely on a Sales Candidate’s Interview is a Mistake Read More »
Amid the COVID-19 global pandemic, where every day is unpredictable — coupled with extreme financial market fluctuations — it feels like being on a roller coaster without any guardrails. The best way to describe today’s financial marketplace is simply as an economic upheaval. This reminds me of the 1987 stock market crash when I
Restarting vs. Resetting Your Business Sales Model Read More »
Recently, an originator asked me for advice about changing lenders. The grievances that the originator had with the current lender centered on three issues: Failure of the lender to have a consistent follow-up system or CRM to contact the originator’s previous customers and expecting the originator to do it on their own. Failure to give
“White Lies” that Drive Low Retention Read More »
In today’s more difficult marketplace, the question I hear most frequently is some version of “What must my company do to succeed in a world where the consumer’s home-buying journey has changed so dramatically?” Consider that in just five years, more than 50% of homebuyers are finding their homes by searching the Internet. This monumental
Disruptors and the Importance of People Analytics Read More »
In my experience, mortgage lenders fall into two categories when it comes to hiring originators. For one group, hiring is all about enticing producers to join their company without setting any criteria beyond a W-2 and loan reports that show the individual can self-source loans. These lenders view the sales force as hired hands
The $1 Million Decision Read More »
Last week on LinkedIn, an originator lamented that he was being recruited by a number of lenders who claimed to be unique but had nearly identical products and technologies. The originator was searching in vain for a company with more to offer than the same old products and payout pitch. In my consulting practice,
Keys to Improving the Hiring Experience for Sales Candidates Read More »
When a salesperson joins a new company, the most critical time period for evaluating whether he or she will be successful is in the first 90 days. This is true whether an individual is a rookie or experienced originator. Why? Because it is easy to be impressed by personable candidates who interview well but
Onboarding is the Best Indicator of Future Sales Success Read More »
