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 »
According to the MBA industry forecast for 2020, refinance volume is projected to drop by 24% from last year. The MBA predicts that refinance volume will decline even further in 2021 and 2022 with a decrease of up to 29% from 2019. These numbers are eye-opening and should serve as a wake-up call for sales
What will YOU Do if Refinance Lending Falls by 24%? Read More »
In today’s ultra-competitive marketplace, being a good salesperson isn’t enough to generate new business. These originators meet expectations but don’t go above and beyond to deliver an exceptional customer experience. They tend to perform well during refinance markets but lose momentum in purchase money markets because they don’t stand out amid their competitors. Good
Why Being a Good Originator Isn’t Enough Anymore Read More »
In just 39 days, 2020 will be here. For many in mortgage banking, 2019 was great; for others, not so much. In the year ahead, sales organizations will need to address the challenges inherent in a marketplace characterized by the resurgence of purchase money and the reduction of refinance volume. It seems like some originators
Five Questions You Need to Ask Yourself Before the New Year Read More »
In a recent conversation with a branch manager, I asked if his originators were using video in their selling process. The manager sighed and answered, “Not really. They only use it when I create the video for them.” As a social selling trainer, I’m not surprised. I often work with sales professionals who are resistant
Why Video is Mandatory for Effective Selling Today Read More »
Last week at the NY Secondary Market conference, most of the sales executives I met with asked, “What is the most important issue going forward for the industry?” My response I think will be surprising to many. While improving the manufacturing part of the process is important and long overdue, I believe our real challenge
The Changing Role of Loan Officers 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 »
In a recent conversation with a veteran mortgage banking trainer, he commented that invariably in every class, there are adopters of the new selling techniques and those who plainly reject what is being taught. In my consulting practice I’ve seen this time and again. I find that top originators are more than willing to learn
Are Your Originators “Training Fakers\” or Resisters? Read More »
In a recent conversation with a veteran mortgage banking trainer, he commented that invariably in every class, there are adopters of the new selling techniques and those who plainly reject what is being taught. In my consulting practice I’ve seen this time and again. I find that top originators are more than willing to learn
Are Your Originators “Training Fakers\” or Resisters? Read More »
For those unfamiliar with the Dunning-Kruger Effect (DKE), it is a psychological phenomenon where certain individuals have a cognitive bias that prompts them to over-estimate their abilities because they can’t grasp what they don’t know. In simple terms, these people think they are smarter than they really are. In mortgage banking, DKE individuals can be
Will the Dunning-Kruger Effect Take Down Mortgage Companies? Read More »
