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 »
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 »
During my recent training class on prospecting, participants discussed, “What do Realtors really want from originators?” An excellent place to find answers to that question is on ActiveRain, an online community of real estate professionals who write blogs, exchange best practices and share information. One post from a Texas Realtor revealed important insights on what
What do Realtors want from Loan Officers? 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 »
Last week, I had a dozen phone conversations with lenders who are concerned about the future of mortgage banking. Some managers believe looser financial regulations are coming back. Others contend that we are in a more transformative period. Whatever comes to pass, one thing is clear: the mortgage banking landscape of the future will not
Mortgage Sales Transformation: Stepping Up to the Plate 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 »
In my sales training sessions, on how to improve referral source relationships, many originators report that they have a strictly transactional relationship with their sources. In my view, this is a classic “taker” strategy. “Takers” act out of self-interest in order to get as much out of others as possible. These producers view their
The Key to Great Referral Source Relationships Read More »
At a recent leadership conference, I asked who makes up an originator’s customer base. It might seem obvious that producers know who their priority customers are, but you would be surprised at the answers I received when speaking on this topic. Most originators think it is borrowers while top producers view referral sources as their
Who Are Originators’ Priority Customers? Read More »
In reviewing sales originators’ pipelines, it is clear to me that better performers originate business from more referral sources than poorer performers. This doesn’t matter whether it is a retail or third-party originator — the trend is consistent. In the past, originators could make their budgeted goals with just a handful of referral sources. Today,
What is the Minimum Number of Referral Sources? Read More »
