In a tough marketplace, many LOs are focused on capturing more referral business from Realtors. While this is a smart strategy for mortgage sales professionals across the board, the truth is that real estate agents are inundated with referral requests from LOs. For best results, originators would be wise to re-evaluate what they bring to […]
Referral Business Reset: 3 Essential Steps for Success Read More »
Originators who want to achieve long-term success should take a page from top producers’ playbooks and strive to serve their customers as professional financial advisors. Why it matters: • Earn multiple income streams. Top producers view borrowers as an opportunity for multiple income streams, not as a single transaction. For them, closing on a loan
Unlock Long-Term Success with this Unbeatable Strategy Read More »
As volatile conditions continue to dominate the mortgage marketplace, many lenders and LOs are struggling to hit production goals. While there is no quick fix for the myriad of challenges mortgage managers are facing, there are definitive steps LOs can take to build market share and stay in the game. They are: Select a
Three Strategies LOs Can Use to Build Market Share Read More »
In my recent survey of the top challenges facing mortgage managers in 2022, getting LOs to prospect for Realtor referral sources was a primary concern. Building mutually beneficial relationships with referral sources is mandatory if LOs want to reach year-end volume goals. But, establishing referral relationships and convincing a Realtor to partner with you takes
Connecting with Real Estate Agents in a Digital World Read More »
Over the years, I’ve interviewed hundreds of top producers and analyzed the behaviors and traits that set them apart from the rest of the pack. One significant differentiator? The best in our industry have the most real estate agent referral sources. This is probably no surprise to sales leaders. Top originators are relentless in developing
Sales Success is About Having the Most Realtor Friends Read More »
In my recent conversations with senior executives, many sales leaders are panicked about their drop in sales volume and how tough the remainder of the year looks for their organizations. While the refinance boom’s record profits are quickly fading in the rearview mirror, the traditional purchase money market looms large on the road to success
During Volatile Markets, Referral Relationships Matter More than Ever Read More »
Over and over again in my sales training classes, I encounter originators who do not understand their fundamental role as mortgage loan creators. While many producers believe their main purpose is to service their lender’s current customers, they must also generate new business. Originators who fail to create new loan demand are essentially customer service
Do Your LOs Have What it Takes to Generate New Business? Read More »
Last week, I surveyed the top 50 mortgage sales executives on how effective their originators were at marketing to realtors and expanding their referral base. The results were eye-opening. The majority of survey participants rated their originators less than 5 on a scale of 1 to 10 (with 10 being the highest). I simultaneously surveyed
Executive Survey Results: How Effective are Your LOs in Marketing to Realtors? Read More »
