| If you could start your mortgage career | | | | time you'll be among the very best loan originators. |
| over...knowing what you know today...would you do | | | | 3. You only have 30 seconds to sell yourself. |
| anything different this time around? | | | | It's one thing to say that a salesperson should gather |
| Interesting question isn't it? Obviously, you can't turn | | | | leads and close loans but, most of us aren't |
| back the clock, but you can move forward with | | | | adequately trained to know how to be persuasive |
| what you've learned plus the following advice touted | | | | and get critical information in a 30 second encounter. |
| by other mortgage professionals. | | | | Without proper training, this is a lost opportunity. |
| 1. You're in business for yourself. | | | | Personality profiling and learning how to read people, |
| It may have become obvious to many of you, but | | | | is one way to build rapport quickly. You can actually |
| did anyone really tell you that in the beginning? | | | | adapt your client's communications style to mirror |
| Probably not. | | | | their demeanor and gain a deeper connection. |
| You do your due diligence to fulfill your licensing | | | | I always suggest continuing education classes that |
| requirement(s), your company training and orientation, | | | | expand your knowledge of personality types, |
| and generally learning the ins and outs of the | | | | developing good listening skills, and the ability of |
| mortgage business. | | | | focusing on your client's interests instead of yours. |
| You also recognize that to be successful, you need | | | | Done correctly, this goes a long way towards making |
| to improve your presentation and communication | | | | a good instant impression. |
| skills, your attitude, your planning ability, and a whole | | | | 4. Some deals just aren't meant to be. |
| host of other self-improvement topics. | | | | No matter how good you are...there are times you |
| But nobody told you that you had to be a computer | | | | can't figure out if this person is "for real." |
| and technology expert, knowledgeable about | | | | They may call and say they need loan |
| budgeting, advertising, accounting, time management | | | | information...then they disappear. Or, there may be an |
| and all kinds of other issues related to being in | | | | unwillingness to get pre-qualified or pre-approved. |
| business for yourself. | | | | Even the very experienced salespeople sometimes |
| And of course, nobody told you to generate a | | | | miss the red flags that indicate an unmotivated |
| detailed and comprehensive "marketing plan" with | | | | prospect. "Flaky" customers do come with the job. |
| time-lines and goals. It's this "marketing plan" that you | | | | Don't let them get you down...cut your loses and |
| need to review and evaluate once a month or so, | | | | move on. |
| and then change and upgrade as required. | | | | 5. Don't confuse years on the job with skill. |
| It's my opinion that for most of us, the mortgage | | | | When you're new and unsure of your mortgage |
| business is not all that difficult. What many people | | | | knowledge, it's natural to hang around more |
| just can't handle is being in business for themselves, | | | | experienced loan officers/mortgage brokers. Just be |
| and all the issues that this brings. | | | | careful who you emulate. |
| 2. Never stop learning. | | | | Remember, successful loan officers are out hustling |
| Only a small part of what you learn in licensing school, | | | | business, not sitting around the office. |
| company training and orientation, as well as lender | | | | 6. You're selling yourself as much as the loan. |
| seminars have any bearing on what salespeople | | | | Remember the old adage "first impressions mean a |
| actually do. | | | | lot." Well, so does knowledge about the mortgage |
| To be successful in this business you need to learn | | | | market, loan programs, industry trends and the like. |
| concrete skills such as how to find prospects, how to | | | | You need to choose a mortgage company with |
| work with a client, how to over come objections, | | | | regular scheduled training covering both the basics, as |
| and how to close the deal. Many new people in the | | | | well as industry trends. If you're not getting that, |
| business have no idea what to say once they get a | | | | then it's time to find a new company. |
| client. | | | | Lack of training is the biggest fault of mortgage |
| Each and every day you need to improve the way | | | | companies today. Don't get short-changed on |
| you do business. Take at least an hour each day to | | | | training...it will make or break your mortgage career. |
| improve your skills and knowledge and in a years | | | | Look for Part II of this article... |