Another Round with OriginatorSUCCESS

Welcome to another edition of OriginatorSUCCESS. In this issue we highlight topics we’ve discussed online over the last two weeks and add a little more thought to each one of them. There is so much to talk about and only so much time; this newsletter lets us dig deep in to the most pressing originator issues.

But first – we’re looking for a few good originators – to interview, that is! If you’ve been following along at home you’ve noticed that Blown Mortgage has launched its industry podcast interview series. We’ve got a few in the can but are always looking to talk with smart, motivated, honest people in our industry. If that is you, email me and we’ll get you on the show.

Item 1: Don’t waste your at bats!

In my post on the Bloodhound Realty Blog I compared your leads as an originator to at bats in a baseball or softball game. In each game you only get a precious few; it's important not to waste them! Read the post here.

More: There is always more to say on the subject of preparation. Each time you pick up the phone you have a fresh start with a person you’ve never spoken with before. It’s your chance to shine and to differentiate yourself from the average order-takers out there. But you only have the first few seconds to strike that perfect chord. There is plenty of research that shows a potential customer makes an initial gut decision about whether they will work with you in the first few seconds of speaking with you.

Are you ready for it? Are you on top of your game when the person picks up your call? Or are you reading emails, chewing gum or daydreaming? If you are having trouble getting clients to speak with you and seem to be “shot down” right off the bat; focus on your pre-call preparation. Often by simply focusing and preparing for those initial few seconds you’ll be able to improve your conversion ratio from mediocre to world class.

There is never an excuse for a lack of preparation.

Item 2: You’ve got to learn to earn.

How has the recent market change impacted your sales? Has the subprime shakeup thrown your pipeline in to neutral (or worse?) Do you find yourself wondering which bank can still do a particular loan for you? And who is the most competitive these days?

With all of the changes these days it’s difficult to stay on top of the market; but it can be done with a little research and outreach. If you are uncertain about which banks can handle which loans, take it upon yourself to gain the ‘knowledge edge.’ Pick up the phone and call your bank reps, ask them to send you their latest flyers highlighting their niches. Ask your sales manager to schedule some additional lender training.

Pick up a Scotsman Guide and research new lenders, check out rates at the big banks. Ask your secondary department who seems to be offering the best rates on different products. The more product knowledge you have the more benefit you can deliver to your client. Without product knowledge you are just a salesman. With product knowledge you can fulfill the role of consultant – a far superior role.

Item 3: Open your eyes!

It’s a big world out there, with lots of experience, expertise and opinion just waiting for you. Why go it alone when you can enjoy the fruits of the thousands of years of collective experience that is shared everyday on the internet. Get out there and soak it in. There are originators posting ground-breaking, insightful ideas every day about how to improve yourself and your wallet. If you care about money and success you should care about what these people are saying.

Here are just a few great blogs that I highly recommend reading to improve your knowledge of all aspects of our business. There are hundreds of mortgage blogs, and this is just a sampling, I leave it up to you to explore and find your own way. It’s as simple as a Google blog search and then following your own path. Be sure to “favorite” the ones you like the most so that you can come back and read them often.

There is a ton of excellent information out there – completely free! Use it to your advantage, your wallet will thank you.

Blogs we read: The Mortgage Porter, Mortgage Cicerone, Bloodhound Realty Blog, Rain City Guide, Sellsius Real Estate.  You can email me for my list - I'm happy to share it.

Feedback

We want your opinion! What would you like to see covered in our upcoming eZine issues? Let us know and we’ll do our best to accommodate. Thanks for reading and being a part of the Blown Mortgage community.