I always encourage loan officers to ask for referrals. So it was a bit surprising when I realized that since I have been back originating loans, I have been TERRIBLE at this. Is being busy a good excuse? How about "I just forget"? And there is this one that crossed my mind for a nano-second: "I don't want people to feel uncomfortable."
WHAT??? I really thought that? Beat me with a stick and put fire ants in my shoes for that one. There really is no (good) excuse. It is simply a matter of making the choice to grow my business through referrals. Take the plunge. Do it anyways. Don't be a wimp. Be a winner, not a whiner, wiener (that last one is from Little Red Book of Selling).
So what am I going to do about my conundrum? I could have chosen to wallow in my own loser-ness, but instead I am putting it out there for you all to be my accountability partner. I'm actually going to keep track of how many times I ask for referrals. Yep. It's in black and white. My goal today is one. I'll work up from there.
I've put a reminder on the corner of my computer and I'll be posting my numbers on facebook on Friday. Here's an idea - let's do it together! If you want more referrals, you have to be willing to ask for them. Do it with me!
Welcome to “Hughes Troop - Rockin' the Blue Band - All Star Event”!
Mortgage Revolution is coming back in 2011 with a one day online benefit event to help one of our industry's favorite rock starts, Dustin Hughes. Note from Bliss - you will also receive a download of my presentation "Rockin' Your Business - Finding the motivation and passion to pump up your pipeline"
WHEN: Wednesday, October 5, 2011 SHOW TIME: 10 am to 2 pm (Time is posted in Pacific or West Coast Time Zone. If you need help determining your time zone please visit www.time.gov.) LOCATION: Your place! This will be a live webinar event!
If you are near Portland, Oregon you can join us for the "Live Streaming Event". The location will be announced shortly but you can get registered for the "Live - Portland, Oregon Streaming Event" under the Tickets Tab. You will still get access to all the Back Stage Recorded Events after the event. If you attend the Live Portland Event you can share the day with Dustin and his Groupies. If you are planning on attending the "Live Event" in Portland you should not register for Rockin the Blue Band - Allstar Webinar. Please go to the "Live Portland, Oregon Simulcast" Registration under Tickets and register there. We will be able to see you in Portland, Oregon!
Tickets: Recommended gift is $100 per Webinar Link for Online Event or the Live Simulcast Portland Event. CLICK HERE TO REGISTER
Includes all training and material for the day, access to recordings of all sessions to view after the event, plus additional training material from a host of other industry experts. It's a power packed session for you to access at your convenience!
Get motivated and inspired by some of the top trainers and speakers!
Emcee Extraordinaires: Sue Woodard and Rene Rodriquez Video Commentators: Ginger Bell and Dustin Hughes
Show excellently produced by a bunch of mortgage professionals who have been moved by Dustin Hughes!
Learn and be inspired by some of the very best in our industry.
******Rockin' the Blue Band - Hughes Troop Rock Star Training will be streamed live over the internet at a soon to be revealed Portland, Oregon location. If you can make it to the rainy city, you can party with “The” Rock Star himself….Dustin Hughes!
Buy Tickets for the Online Event, the Live Streaming Event in Portland, Oregon or become a Corporate Supporter!
Whether it is online or live, we look forward to spending the day with you at the "Rockin' the Blue Band - Allstar Event!
A few weeks ago I started reading (thanks, Louise!) Rob Chrisman's Mortgage News and Commentary. It is well written, and offers a host of valuable information each morning. Takes just a few minutes to read and then you are armed with knowledge for the day.
Please YouTube, make it so we can pick a non-geeky screen shot when publishing a video. You give us three choices which are all usually terrible. My rant aside... enjoy today's tip!
But it does! A few years ago, during a particularly difficult time with a particularly difficult teenager that just happened to share my genes; I discovered deep breathing. A completely attribute this discovery with the fact that my adult son is alive and not buried under a concrete slab in the back of my house. Yes, I had very dark thoughts during this time of my life.
But what does this have to do with mortgages? Well... our industry (and us as individuals, unfortunately) have been going through a very difficult time and this same technique works for ALL types of stress. I was thrilled to see a fabulous tutorial on one of my favorite websites.
Since I can't seem to get this crazy business to stop being ridiculous, out of touch with reality and over-the-top driven to see us all in the funny farm, I thought I would pass this along. Enjoy.
I was talking with one of my coaching clients today about increasing his visibility when I made the following statement:
"The people left in our industry are most likely here to stay and they are working hard to maintain and grow their market share. Your competition is really good at what they do and you have to do things that will set you apart and gain the consumers and Realtors confidence and trust."
It's all about visibility and credibility. Getting involved in social media, networking and your community while having a strong reputation as an expert; this is what will be the driving force of top producers in the new world of mortgage origination.
There is definitely less competition, but I would place bets on the fact that those left in our business are exceptional at doing mortgages and hungry for more. Your best defense is to be offensive. Attack your marketing and work on strengthening relationships.
Tim Sanders wrote a great little article over here on the value of being early. I'm a huge stickler for being on time and prepared. If you struggle with this, here is a bit of Tim's article to help you:
There's a bunch of ways to approach being early, and faking yourself out with fast running clocks or artificial deadlines isn't the solution. Here's a few things I've been doing:
1 - Personal: Have redundancy when it comes to alarm clocks. I use 3: My iPhone, a battery operated travel clock and wake up call. Never depend on a hotel clock, they are seldom accurate. Always double estimate traffic times. Leave a meeting that's running late, if it's causing you to be late for the next one. Announce your full-stop time if you are meeting2meeting, and don't let anyone talk you into being late. Even your boss will appreciate you filing out of an ops meeting to be on time for a client call.
2 - Enterprise: Determine a soft-launch, launch eve and scheduled launch based schedule. Make the soft-launch comfortably in front of the scheduled launch, and let your most demanding stakeholders in on the preview. On the launch's eve, be prepared to pull an all nighter to finish and never accept the 'delay announcement' as an option. If you miss the soft-launch, that's a great time to reset expectations (which is also key to the Customer experience.)
3 - If you do run late, pay the price. Over compensate those you let down to the point of pain on your part. This will raise the stakes, forcing you to be on time the next time.
I have recently been interviewing two individuals for a service-related job on our home that involves quite a bit of money.
Both are experienced and were recommended from trusted friends.
Both are comparable in cost.
Both are nice.
Only one has proven to be prompt in returning my calls and emails.
Which one would you pick? Which one resembles you the most? Make sure you are IMMEDIATE in your response to leads, questions and inquiries. It often is the deciding factor for a consumer.
I was talking about Jing in a presentation recently and afterwards Kate Wilson shared another fabulous tool developed by the same company. Snagit allows you to take a snapshot of anything on your computer screen and then edit and share. Unfortunately, it isn't free like Jing, but is only $49.95.
Kate uses this daily when she wants to excerpt out a specific section of something. She also uses it on her blog to capture quick picutres or images from any source at all. Utilizing this for email would be fantastic!
I've mentioned Jing before, but hadn't actually used it until recently. This free technology allows you to share your screen with prospects while they listen to a recording of you explaining the information. I utilize this with Mortgage Coach and was amazed at how easy it is to use. And did I mention.... it's FREE!
Here's how the borrower reacted after watching my video:
That is the best thing in the whole world. Thank you so very much for showing us and really teaching us. I have never had anything like this before. Having you talk us through it and we aren't even your clients yet was amazing. We don't know what we are doing and are so new at this and that was great. Thank you so much, you made my night.
That's why I'm calling it Cha-Ching. Doesn't cost and makes you money. Cool!
If that doesn't convince you, I'll assume you still use a typewriter and your cell phone weighs five pounds. Unless, of course you originate in the OKC area, then please ignore all of my posts. Keep doing things the old way. Makes things easier for me.
Historically in our business, not much gets done in December. I've heard all the excuses... heck, I've made most of them at one time or another.
There's no business in December.
People don't want to buy a house in December.
Realtors aren't working so why waste my time?
It's been a busy year. I need a break.
My mental state is fragile. I hope Santa brings me a therapist.
There may be truth in these statements, but that isn't going to help your business in 2011. What you choose to do in December will absolutely set the tone for your success in 2011. Why wait for January to get things moving? Here are a few sugggestions to put on your calender in December.
2011 Business Planning. Take a half day and go off-site to focus on this important task
Business brainstorming with your team. Even if your team is only you and a processor or manager. Consider a brainstorm session with a loan officer from a non-competing area. (see this post on mentoring groups.)
Reach out to ALL of your referral partners. You may be the only loan officer they hear from.
Declutter and organize your work space. Purging is a great thing.
Take the time this month to create momentum in your business and you'll find you have more enthusiasm and excitement to succeed.
Have you ever considered creating a mentor group? I was recently asked to join a mortgage mentor group that consists of five loan officers (all highly successful) from different parts of the country. This way we are not in competition with each other and are able to freely share ideas.
We have a meeting once a month that lasts about 90 minutes. At each meeting one loan officer shares something that will help the group, often with a ppt presentation. During our last meeting, we all shared the format we use for business planning. The previous meeting was about Mortgage Coach and Jing. We also share ideas (or ask for help) by email throughout the month.
Here is what one of the members shared with me:The greatest benefits are the ability to be open, candid and supportive of each other. A lot of sharing of great ideas. No protectionism. Helps that we are all in different markets. Love the people. I think it's invaluable to have other like-minded professional to mastermind with. Especially in other markets. Just open honest discussion and sharing. Very objective and supportive.
Also, a few years ago, I was part of a mentor group that included an insurance agent and another mortgage professional. We lived in different parts of the country but had known each other for a number of years. We worked our way through Jack Canfield's The Success Principles. This was a great source of motivation and momentum for my business and I am so grateful for the support I was given.
Looking for a way to jump-start your business in 2011? This just might be your answer!!
I love information... especially when it helps me understand our industry better. You can download a New Harvard University report that provides essential insight in the housing market by clicking here. A little light reading for you :)
Dave Savage over at MortgageCoach kindly sent me this. I've been a fan of MortgageCoach for years, but never jumped on the bandwagon. Probably due to laziness, or maybe its those "I'm old and hate change" issues I have. Either way, I figure it's time for me to jump on and so I'll be sharing the process here with all of you.
If you are a MortgageCoach person... let me know your thoughts on how this has helped (or not) your business below in the comment section.
I recently decided I needed a reminder that I am NOT afraid of hard work. I was feeling a bit overwhelmed with work and other projects going on in my life and found myself being very NON-PRODUCTIVE. Not a good thing. After a few minutes of pondering what I can DO to break out of this, I simply said to myself "I am NOT afraid of hard work." This had an immediate calming effect on my mood. Didn't solve any problems but gave me the energy to get back to work and move forward.
I often suggest to my coaching clients and seminar attendees that they use the corner of their computer to help keep them focused. Here's a few ideas I have given in the past. Pick one that will help you right now in your business.
ASK! Helps you remember to ask for referrals.
What is the best use.... Throughout your day ask yourself "What is the best use of my time RIGHT now?"
BTW Another referral reminder "By the way, do you know of anyone looking for a mortgage?"
Because I'm good enough, I'm smart enough and doggone it, people like me. It's true, but sometimes you might forget it :)
This post is not about belly buttons.Though that WOULD be interesting...
This post is about building success.Let me ask you a few questions:
Do you look at other loan officers in your company and wonder why they seem to get so many loans, with very little effort? Do you look at other lenders in your area and wonder why the Realtors love them? Perhaps they are compansating them under table? Do you read about top producers and question how they become so successful when you have struggled for years? Do you look at the market and say "my production is down because of the mortgage mess"?
This is you being an "outie". You look outside yourself at all the reasons why you aren't successful and spend precious energy on what ISN'T working. Very simply, this keeps you from building success. There is a psychological factor to success in sales. To succeed in mortgage originating you have to be willing to work very, very hard and that is nearly impossible if you are comparing yourself to others.
If, on the other hand you continually look at what you can do to build your business (every hour of every work day) and then take action to move your business rapidly forward then you are an "innie". Spend your energies work on improving and growing your business and the competition will take care of itself. The only person you have control over is you. (Hey... that's what I tell my 15 year old!) But it's TRUE! Focus on what you can do TODAY and then get out there and do it to the very best of your ability.
I'm in the middle of Brian Tracy's Million Dollar Habits and I found a section that is exactly what I teach/write about ALL the time. Except he said it better. So I guess it isn't quite exactly. More like similar.
I was so impressed with the way Tracy relates this to success that I want to share a short excerpt with you.
Be Positive and Cheerful
Perhaps the most helpful decision you can make is to develop the habit of being a pleasant, positive person. Refuse to criticize, condemn, or complain. Do not engage in gossip or gripe sessions with your co-workers. Imagine that everything you say at work will be repeated adn published on the company bulletin board. Guard your tongue. Instead, look for something good to say about everyone.
Always be cheerful and friendly. Be patient and easy going. Be polite and courteous. Be thoughtful and considerate. Be the kind of person everyone likes to have working for them, or likes to work for or with.
In our modern business world, it is always the people who are competent, capable, likeable, and pleasant who are paid the most and promoted the fastest. Make it a habit to look for the good in every person and situation, to keep focused on helping other people, and to add value to your company. These habits will help you as much or more than anything else you could possibly do.
Let me repeat the most important part....In our modern business world, it is always the people who are competent, capable, likeable, and pleasant who are paid the most and promoted the fastest.
And who doesn't want to be paid well for what they do???
If you watch The Office, you have probably seen the episode where casual Friday is taken a bit too far. (I would put a clip up... but the only ones I could find might be offensive to some:)
Last week my brother, who is an originator and excels at looking professional, called me from a shopping trip with his wife. He said his suits were getting a bit shabby and he needed to update things a bit. This got me thinking about how seriously (or not-seriously) some loan officers take their appearances.
We are professionals and it is vitally important to look and act in a professional manner. Casual Fridays should still be professional. You have the ability to network and strengthen relationships throughout your day. Every day. Make sure you are portraying the best image possible.
Dillard's is fantastic to help you if you struggle with coordinating outfits or getting things that fit well. I've used them many times when I've been in a hurry, know vaguely what I want but need help. If you are struggling with finances, then I suggest trying a resale boutique in your area. They often have quality brand clothing.
How impressive are you? Take a look at your wardrobe and make sure you are looking as professional as possible.
I was chatting with a loan officer friend of mine about how crazy the market has been and how up and down income can be with this job. He mentioned that I had advised him to pile up six month's of expenses in an emergency fund as soon as possible when he first started out as a loan officer. (This is probably my very best piece of advice for anyone.)
He has done this and as things have slowed down, he is confident that as long as he keeps working on his business that he'll be able to weather any market that comes. Part of what has helped is that he made enough in the first six months of this year to cover all of his expenses for a while and he doesn't mind spending a few months working on relationships and marketing; knowing that he will reap the rewards when the market picks up. Loan officers that don't have a cushion may end up leaving the industry... which is another good thing for those that stick around.
Many (especially those new to the business) tend to have lifestyle inflation. When things are good, they spend what they make because they think they will always make that amount. For those of us that have been around for awhile, we know this can come back to bite you.
This got me to thinking about the income struggles many have. Many times, things slow down after the summer months and income is reduced. In addition to working towards having a six month reserve, here's another tactic you might want to take this next year...
Live the entire year off your first nine months worth of income. This will require you to budget, save and really plan your expenditures, but I guarantee that the rewards will be well worth it. THEN... take the money you make the last three months for something big. Pay off debt, put it towards your mortgage, go on a fabulous trip, etc.
Part of the drive I always felt to find new loans came from my fear of future earnings. This can be very motivating, even more so when you have a financial plan in place.
The other day I drove by a beautiful office complex owned and utilized by a local builder. Both the building and grounds were immaculate and impressive. The problem? Their reputation. From local Realtors all the down to the average consumer, their name evokes comments of "cheap houses", "tract homes" and "shoddy building".
I realize that my small sphere of influence does not the market make, and there must be people buying their homes as they are still going strong. But how important is reputation?
Yes, image IS important. I'll never recommend that you drive around in a '78 Pinto and wear shabby clothing, but reputation is MORE important and should be carefully maintained and nourished each and every day.
Do others recommend your services? Are you considered an expert on interest rates and mortgage financing? Are you liked?
These are all VITALLY important to your current and future production.
I am always looking for ways to increase my productivity and help me reach my goals so I was pleased when a friend recently shared this article... How To Predict Your Future by Anthony Fernando.
"More than anything else, it is the regular weekly activities that you pursue during these blocks of time that will determine the nature of your future."
"By creating your own Habitual Activity Cart and learning to analyze your weekly habits, you too can quickly gain a powerful insight into what the future has in store for you.
The most exciting part about this technique is that if you don’t like the future that your current habits are leading you towards, all you have to do is change your habits.
Remember, your weekly habits crystallize to form your character, and ultimately it is your character that determines your future in life."
I just wanted to tell you how much I enjoy your website and how I get lost in all the fun blogging and interesting articles. When people do a good job, as you do, I think it’s important to tell them. Thanks for encouraging me in these trying times.
Charles G. HauserHauser Financial
Your marketing blog, titled Great Example, featuring Sandra Scott was great. I found it very educational and inspirational, in fact so inspirational that I printed it out and hung it by my computer so I can read it every morning. Thank You very much for all your hard work and time you put into helping us become better Mortgage Planners.
