According to a Loan Officer Hub originator survey, 92% of participants said that the most reliable way to expand your referral network is to “provide value.” And indeed, at the heart of every referral relationship is a strong desire to help your target audience succeed – whether that’s advising a repeat customer on refinancing a […]
3 Strategies to Grow Your Referral Network Read More »
There’s a common truth in selling that a salesperson’s job is to deliver the right message to the right people at the right time. Over the years, countless sales trainers – myself included – have tackled this topic in sales training sessions, blogs and podcasts. While it seems like such a simple directive, actually implementing
Prospecting is THE Most Important Job for LOs! 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 »
During my recent conversations with sales leaders, managers across the board expressed concern about their originators adapting to the new environment of rising interest rates and the shift to purchase money. The decline in refinance business is a reality with mortgage applications dropping 43% in the last week, according to the MBA. This raises
Facing a New Reality: Five Ways to Win in a Purchase Money Market Read More »
Last week, mortgage interest rates rose an average of 13 basis points, according to Bankrate. While mortgage rates are still historically low, many lenders were caught off guard, thinking that interest rates wouldn’t increase until later in the year. Likewise, refinance applications dropped 7% to 68.5% of the total volume. Freddie Mac also reported
Are Your Originators Ready for a Purchase Money Market? Read More »
The number one issue every manager and originator is discussing today is how to generate more referral sources and thus close more loans. The research clearly shows that originators with the most referral sources do the most volume. I think this is no surprise to most salespeople and managers. The question is why do so
Growing Referral Sources Starts with a Connection Strategy Read More »
Recently, the National Association of Realtors published survey results on broker’s key challenges. I have listed a few highlights that I think have important ramifications for anyone in housing finance: • The top three challenges that real estate brokers anticipate in the next two years are: 1. Keeping up with technology 2. Maintaining an adequate
What Percentage of a Realtor’s Customers come from Referrals? Read More »
During my sales training classes on prospecting, I ask originators how many referral sources they have. I see the same thing again and again. A majority of originators are dealing with only three or four consistent referral sources. For these originators, this scenario is a time bomb that could negatively impact their budgeted goals unless
The Secret Killer of Sales Performance Read More »
In my sales training sessions with originators, it seems many producers are stuck in a specific role such as selling price or the best service. The problem is there are literally thousands of originators in the marketplace with the same sales strategy. Top producers, however, present themselves differently to new referral sources. They move
Why Originators Need to Elevate Referral Source Conversations Read More »
