In last week’s blog, I discussed the role of technology in mortgage banking and where the originator position is heading. I believe that in the not-too-distant future, artificial intelligence technology will be integral to the operational side of the business and will usurp functions that originators have traditionally performed. No longer will originators determine product […]
The Future Role of Originators is Micro-Influencing Read More »
It seems that every time production gets more difficult, originators and their managers request training on how to increase their sales results. While it is reasonable to think that originators simply need to work harder to generate better results, this often isn’t enough to correct a sales slump. In my experience, the real solution is
The Fallacy of Doing More in Origination Read More »
Recently, I discussed how today’s selling environment requires originators to form a tribe of followers because they are providing important information to improve their customer’s lives. Selling has moved from pushing products to being a valued educator and leader. Smart originators recognize that hawking mortgage products doesn’t create trust; what does is sharing personal passions,
The Death of AIDA and the Rise of Personal Branding Read More »
Last week I spoke at a conference where the agenda was dominated by technology presentations. This is fairly typical of many industry events. My topic regarding sales personnel and the future sales organization was the next to last session. After my presentation, one attendee lamented, “I don’t know why there is such emphasis on
Fixing Mortgage Bizarro World! Read More »
This year, prospecting for new referral sources or brokers has been one of the most frequently requested topics in my sales training sessions. There is no question that lack of referral sources is directly linked to low volume for originators. Having a handful of referral partners is no longer enough to succeed in the current
Convincing Prospective Referral Sources: “Why Change Now?” Read More »
Recent numbers from the MBA and Stratmor show that the average production per originator has fallen dramatically from the refinance era to a new low of 2.5 units a month. Bank originators have a slightly higher average primarily because they receive leads from the company. These numbers are a wake-up call to lenders that improvements
Wake-Up Call: Why are Retail Originators at 2.5 units per month? Read More »
As we move further into the second quarter of the year, it is a good time to reflect on changes needed to kick-start sales performance. Certainly, rising interest rates, changing regulations and new technology can seem overwhelming at times. While these external factors can pre-occupy originators and their managers, the truth is that change needs
Bill Belichick’s Four Success Strategies for a Winning Team Read More »
The two topics that I am most often asked to train on are prospecting and recruiting. I think this is no surprise since selling in the marketplace is now more difficult than it has been in the past. In many ways, prospecting and recruiting are the same, just with different targets. Both require an individual
Five Keys to Recruiting and Prospecting Success 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 »
At many mortgage companies, it is common practice to purchase leads from lead generation companies and dispense them to branch originators. While an originator’s primary job is to self-source their own leads, mortgage executives know that many originators don’t prospect and need to receive leads to meet company volume goals. When you think about this,
Are Your Branch Originators Calling Leads in 4 Seconds? Read More »
