Anyone in mortgage banking can attest that origination is not for the faint of heart. Like many other industries, our business is cyclical which means LOs must endure the inevitable ups and downs which can be an emotional rollercoaster. So, when a prospect seems receptive to a sales pitch, it is understandable that LOs […]
Happy Ears Syndrome and How to Cure It! Read More »
Last week, a mortgage executive exclaimed, “It’s a dog fight in mortgage origination!” as he described the current lending environment. Indeed, fierce competition, crazy pricing and non-existent housing inventory have created additional challenges in an already volatile marketplace. To compound these issues, Zillow recently noted that almost 50% of sellers are receiving contracts for
Three Solutions to Win: “It’s a Dog Fight in Mortgage Origination.” Read More »
In 2020, many originators pushed prospecting to the backburner. Thanks to the record-breaking refinance boom, originators were able to hit volume and income goals without much effort in the prospecting department. This year, a very different story is playing out. While interest rates are still low, marketplace volatility has complicated the financial outlook. A recent
It is Time to Get Serious About Prospecting Read More »
During my recent MBA webinar, “Owning the Customer: Keys to Originator Success,” I asked attendees whether their originators were reaching out to former customers. The overwhelming majority said producers were only using the lender’s CRM system to maintain contact. When asked to rate originators on customer engagement, the same attendees gave their producers a solid
Owning the Customer is an Originator’s Chief Responsibility Read More »
During a recent training session on recruiting originators, I described our current mortgage environment as the “best of times and the worst of times.” The famous quote from Charles Dickens’ “A Tale of Two Cities” offers fresh insights for managers and originators trying to determine the best course of action for sustainable sales success. It
Sales Success in the Best of Times and the Worst of Times Read More »
In my sales training programs, one of the most important exercises I use is “50 Reasons Why People Should Buy from You.” When I ask originators why prospects should do business with them, most students cannot come up with more than a handful of reasons — let alone 50. Once they move beyond the standard
Can You Provide Prospects with 50 Reasons to Buy from You? Read More »
Researchers estimate that 95% of consumers’ buying decisions are driven by emotions. While most people believe they are rational and make decisions weighing all the evidence, the reality is very different. Many salespeople recognize this but inevitably, there are producers who claim their customers are different and more price-sensitive than other consumers. If you take
Five Key Questions Originators Must Answer 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 »
I know there is a robust refinance market going on and the Fed just moved to zero. So, why do I want to discuss how to increase sales results when originators have more business than they know what to do with? The reality is that at some point, the unprecedented decline in interest rates
High Probability Selling Activities: The Key to Increased Sales Results Read More »
Everyone loves a good story. For adults and children alike, the best stories make a lasting impression. Who doesn’t remember the story of George Washington chopping down the cherry tree and the value of telling the truth. While originators aren’t tasked to share life lessons, they are challenged to connect with prospects in a meaningful
Mastering the Fundamentals of Good Storytelling Read More »
