In the last few weeks, I touched on the macro-selling strategies that lenders and originators will need to succeed in the new decade. Today, I want to go more in-depth and discuss emerging technology that could be a game-changer for salespeople: voice assistants. Yes, voice assistants! While artificial intelligence is often referenced in the media […]
Voice Assistants: The Next Great Tool for Originators Read More »
During my recent MBA webinar on increasing sales production, many participants raised questions about how to make loan officers more accountable. This has always been a hot topic for lenders and their managers but the issue is especially critical as we approach 2020 and the formidable challenges that lie ahead. Knowing what drives accountability and
The Truth About Solving LO Accountability Issues Read More »
Every originator hears the word “no” a lot. Whether it is from referral sources or prospects, salespeople deal with rejection on a regular basis. There’s no question that selling is not for the faint of heart. Maintaining enthusiasm and momentum amid a daily barrage of negativity can be challenging at times for even the best
A “No” Doesn’t Mean the Dream Ends. Look for Inspiration in “Maiden.” Read More »
The recent announcement that General Motors will be closing plants has sent shock waves throughout the economy. The news seemed to be a surprise for many and was originally attributed to the tariff wars. However, a closer look reveals that GM had the wrong products and structure to face changing consumer preferences. In a New
Why GM’s Failure to See Tougher Times Ahead Matters Read More »
During a recent conversation, a manager discussed how his company was handling an underperforming originator. The lender’s solution was to take away the individual’s draw and benefits but compensate the salesperson for any loans brought in. The manager felt that this approach was a great way to reduce the lender’s costs and address the problem
The Invisible Killer of Mortgage Sales Groups Read More »
Last week, I wrote about the alarming performance of today’s originators in mortgage banking. The post hit home for many managers who admitted that 2.5 units per month per originator is not enough for their companies to make a profit. In fact, some even lamented that they have originators who are not even producing at this
The Death of Sacred Cows in Sales Read More »
A recent analysis of loan officer performance for a mid-Atlantic state in 2016 revealed shockingly low production numbers. According to the data, the state had approximately 9,000 originators but only 300 originators produced $10 million in annual volume. In the past, $10 million in annual volume was not considered exemplary performance but in a refinance-driven
The Hard Reality of Low Production Numbers Read More »
