As an avid football fan, I am amazed at Tom Brady’s incredible performance week after week in a sport where the average career for most professional players is just 2.5 years (Chron.com). Athletes in the quarterback position average about 3 years on the playing field. Brady’s phenomenal success in one of the most competitive […]
What LOs Can Learn from Tom Brady’s Phenomenal Success Read More »
In every conversation I’ve had regarding the 2022 mortgage banking forecast, it’s clear that the year ahead will be challenging for lenders and originators. For those new to the industry, this might be a shock but experienced producers are all too familiar with the industry’s boom-or-bust cycles. To be sure, interest rate fluctuations, housing supply
Are You Zigging When Others Are Zagging? Read More »
During a recent conversation with a mortgage banking executive, we discussed the sales behaviors that separate top producers from the rest of the pack. The senior manager observed that the best originators always personalize their interactions with former clients. Indeed, top originators set aside time to regularly contact past customers in a way that deepens
Professional Selling is Always Personalized! Read More »
Many originators believe that sales success is driven by their lender’s products and technology. A lender’s ability to compete in a commodity market such as mortgages requires these basic elements to be in place. But, what really determines an originator’s success comes down to the individual’s sales capabilities and skills. Whether they’re selling widgets or
What it Takes to Control the Customer Interaction Read More »
Jamie Dimon, Chairman and CEO of JPMorgan Chase Bank and respected banking industry guru recently said in an interview that bankers lack imagination when it comes to envisioning what their customers need. He noted that Fintech companies in particular, “are making great strides in building both digital and physical banking products and services. From loans
Are You Hiring Radical Change Agents? 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 »
One positive impact of the pandemic is that originators have been forced to connect with customers via video conferencing. Before Covid-19 restrictions, some originators incorporated video into their sales process but many producers had not. With the rise of remote working, video conferencing has become a primary tool for personal interaction. Even sales leaders
Why Video Sales Presentation Skills Matter Read More »
Today, consumers have easy access to an unfathomable amount of information on every imaginable topic under the sun. Moreover, that information is being published at an astonishing rate. Consider that in 2020, YouTube users uploaded 500 hours of video every minute! Who would have thought 40 years ago that 2021 would be characterized by
What an “Attention Economy” Means for Originators Read More »
Traditional selling as we know it has been dead for a long time but the global pandemic was the nail in the coffin for the order-taker sales model. This strategy is rooted in the days when salespeople went door to door fulfilling customer demand for products. In that era, products were limited and information
7 Lessons from the Year 2020 Read More »
In a recent Inman article, a Keller Williams executive discussed the challenges facing the company in 2021, noting that like other large legacy firms, “while we have a profitable business, it takes time and effort to adapt to some of the industry’s big changes such as compressing commissions and increased competition pushing agent splits
The Hidden Challenges in 2021 for Mortgage Lenders Read More »
