During a recent discussion, a mortgage banking executive shared his objectives for the year ahead, noting, “I want all of my originators to be ‘up and out’ and meeting referral sources and customers in 2022.” This isn’t newsworthy for any sales professional. Frankly, it’s their job to connect with as many people as possible within […]
The Holy Grail of Origination Success Read More »
One of the most talked-about topics in mortgage banking is how managers can motivate employees to improve sales results. This perennial issue comes up often in executive meetings and is frequently on the agenda at annual sales rallies. At these events, motivational speakers typically recount their rags-to-riches stories in hopes of inspiring sales professionals to
Motivation or Discipline: What Matters More in Sales? Read More »
In 2020, many originators pushed prospecting to the backburner. Thanks to the record-breaking refinance boom, originators were able to hit volume and income goals without much effort in the prospecting department. This year, a very different story is playing out. While interest rates are still low, marketplace volatility has complicated the financial outlook. A recent
It is Time to Get Serious About Prospecting 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 »
During a recent training session on recruiting originators, I described our current mortgage environment as the “best of times and the worst of times.” The famous quote from Charles Dickens’ “A Tale of Two Cities” offers fresh insights for managers and originators trying to determine the best course of action for sustainable sales success. It
Sales Success in the Best of Times and the Worst of Times Read More »
In my sales training programs, one of the most important exercises I use is “50 Reasons Why People Should Buy from You.” When I ask originators why prospects should do business with them, most students cannot come up with more than a handful of reasons — let alone 50. Once they move beyond the standard
Can You Provide Prospects with 50 Reasons to Buy from You? Read More »
Everyone in mortgage origination knows that selling has changed dramatically from just a few years ago. Not that long ago, salespeople held all the information and customers had to contact them to get access to it. Now, buyers can conduct research online 24/7 to answer their home financing questions before reaching out to a
Top Selling Technique for Originators: Storytelling 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 »
In today’s selling environment, having an initial conversation or setting up a face-to-face meeting with a prospective buyer is more difficult than ever. Wary of salespeople, consumers aren’t interested in talking to someone they don’t know. Whether the outreach is to a referral source who already has a lender relationship or a consumer who doesn’t
Three Action Steps for Effective Prospecting Read More »
Prospecting is more difficult than ever because of all the filtering devices that exist. Yet salespeople still must prospect for new customers if they want to be successful in the long run. Unfortunately, originators who use phone calls or emails to prospect are experiencing record low response rates. Can you blame people for not answering
How to Cut Through the Clutter with Prospecting Efforts Read More »
