During a recent conversation, a senior executive shared how hard it’s been for some originators to transition from the easy business of the refinance boom to the tougher grind of purchase money. While managers and originators alike readily acknowledge that selling tactics need to change if they want to survive – and thrive – …
The famous line from the movie Field of Dreams, “If you build it, he will come,” is often quoted in the business world to imply that attracting customers is simply a matter of creating a great product or service and bringing it into the marketplace. However, smart sales professionals understand that having a worthy product …
Every originator knows that selling is not easy. Competition is intense with thousands of originators basically offering the same products. This is the mortgage landscape in 2021 — a commodity business. When originators are asked to distinguish themselves from their competitors, is it any wonder that their reaction is disbelief when the products and …
How Different is Your Sales Pitch from Other Originators? Read More »
Sales success is one of the most frequently written about topics in the business world. A quick Google search pulls up more than 1 billion results on the subject! Countless articles and books have addressed what it takes to achieve sales success. Over the last 10 years, I have contributed my fair share to this …
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 »
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 »
Last week, a lender reached out to me regarding consulting services because the company’s production was down 20% from the previous year. This is a familiar scenario in mortgage banking where companies that once had high volumes are experiencing lower production and higher costs. The big question is what can lenders do to turn around their …
In recent conversations with originators, the complaint I hear most often is that they are working harder than ever and seeing less results. They attribute their lower production to an ultra-competitive environment where they conduct pre-approvals only to have the customer go with another lender with better pricing. In many cases, this feedback is coming …
I just watched the Oscar and BAFTA award-winning documentary “Free Solo” which follows Alex Honnold as he climbs Yosemite’s El Capitan, a 3,000-foot granite monolith, without ropes. This is an incredible story as Honnold becomes the first person ever to accomplish the feat. The film is breathtaking and gives viewers the feeling that you are …
Last week, Macy’s and J.C. Penney announced plans to turn around poor performance for their respective businesses. This is not a new issue for either firm. Both former retail giants have been in a downward spiral for many years. Executive management changes and different strategic directions — from everyday low prices to mobile checkout stations …
