3 Questions to Ask Yourself If You Aren’t Closing At Least Five Loans per Month

by 16 Apr 2012

Does existing business or new business take priority?

Dealing with your existing business should never take priority over finding new business. Focus your time, money, and energy on doing the one thing you should be doing every day – FINDING NEW BUSINESS. Move everything else out of the way! Finding new business is usually the first thing that gets moved to the backburner when things get busy. You know how it goes - We get a loan, and we immediately start doing the processors job. We’re so proud of that new loan, and now we finally have a reason to be ‘busy’! Break away from that pattern and think “Creating Business”, not “Doing Business”. Instead of doing other peoples job for them, pick up the phone and call the SELLERS AGENT on that new loan! When is the last time you introduced yourself to the seller or their agent? Of course, we all want to get the easy stuff out of the way first, but that’s a toxic way of thinking for sales people. Don’t let old business get in the way of your new business!

 

Are you maximizing/expanding your sphere of influence?

Be in the business of getting the business! Top producers don’t let trivial conversations and meaningless tasks dominate their day. They are very focused on growing their sphere of influence on a daily basis. They are constantly talking to those who can help them grow their business, and constantly seeking to maximize and increase their sphere of influence. Always be reevaluating yourself and your lead/referral sources. Just because a certain real estate agent calls you every day does not automatically make him/her a great lead or referral source. How many closings did that relationship produce last month, last quarter or last year? One of the most common mistakes most originators make is marketing to the same group of people on a continual basis, regardless of the results. Chances are good that you have enough friends already …what you need is business! Break out of the rut and expand your sphere of influence EVERY week. 

 

What’s the one thing I should be doing every day?

Day in and day out, top producers NEVER stop generating new leads. You should have a set time every day for lead generation or it won’t get done. Block out time for lead generation EVERY DAY from 8am to 11:30am. I know…That just made some people cringe (I think we just found out what happened to our business). Does this sound familiar – “TV, kids, coffee, donuts…lucky if I’m in the office by 9:30, then the emails, videos, rate sheets, socializing, …that keeps me feeling productive until at least 10:30… then we have to talk about where we’re going for lunch until we actually go at 11:30, then back to the office no later than 1:30 pm, but don’t forget I have to leave early today to take the kids to the doctor…there’s just not enough time in the day!” Kill the distractions and block out time every day to generate new leads, and do it while you’re fresh for the best results.

 

Branch Expert" width="150" />Eric Tishaw is the C.O.O. of Hometown Lenders, and he and his Hometown Lender’s Team have a long history of assisting mortgage loan professionals reach their fullest potential. Eric can be reached at eric@htlenders.com.

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