The best mortgage managers recognize that updating their sales team’s selling skills is mandatory if their LOs want to remain top of mind and relevant in the marketplace. However, all sales training is not created equal. If your last training initiative didn’t deliver results, one of these common pitfalls was likely the reason: • One-Off […]
3 Sales Training Pitfalls to Avoid Read More »
What percentage of your LOs are consistently hitting – or exceeding – their sales goals? If you’ve settled for the status quo, it may cost your lender long-term stability and success. Why it matters: • Lackluster sales results are a clear indication that your sales team’s selling skills are at or below average. The problem?
Can You Afford the Cost of Average Sales Results? Read More »
An increasing number of home loan prospects – about 25% – find their lender online, according to Zillow Group’s Consumer Housing Trends Report 2021. This means LOs must be adept at transforming leads from initial contacts to satisfied customers. Zillow recommends several tactics for optimum success. Let take a closer look: • Act fast. Once
Zillow’s Best Practices for Online Lead Conversion Read More »
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, a mortgage banking executive shared how difficult it is for some originators to transition from the easy business of borrowers shopping for lower interest rates to the arguably tougher sell: Convincing prospects that financing a home loan for 30 years is in their best interest. Even when producers recognize and admit
The Key to Improving “B” Originators 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 »
In my training classes for originators, I often compare selling to sports to help students understand key concepts. The analogy works because students can easily relate to the similarities — the competition; the emotional highs and lows; and the identification of clear winners and losers at the end of a game. While all of
What Mortgage Originators Can Learn from Chess Read More »
Last week, shock waves rippled through mortgage banking after 50 basis points were unexpectedly added to refinance loan fees. This action took a lot of lenders by surprise and sent many originators into panic mode. This is yet another example that the business world is filled with events that can seemingly come out of nowhere.
What Car Salespeople Can Teach Originators Read More »
Since the COVID-19 outbreak, the normal way of doing things is being redefined on a daily basis. Many financial experts consider this global pandemic to be a “black swan” event. From Nassim Taleb’s \”black swan” theory, the term refers to rare, unexpected events of large magnitude with potentially severe consequences. While predicting the future
Does Your Sales Strategy Align with How Consumers Want to Buy? Read More »
