Ask the Expert: Success -- or failure -- comes down to you

by MPA28 Jul 2014
By Dave Hershman
Special to MPA

I am thinking about becoming a loan officer. A friend of mine said that he will be training me and I have already taken the 20-hour course. What is going to determine my success?
--Peter from Seattle

You just asked a great question but the answer requires a book. Obviously, we don't have that much time but I will be happy to spend a few weeks talking about this issue, which should be helpful for rookies as well as experienced producers. The short answer is "YOU." You are the reason you will succeed and why you will fail. It reminds me of a University of Michigan study which discovered that well over 90% of failures are due to the sales person, not his/her circumstances such as lack of training. In other words, good training is lost on the wrong people.

So, the next question is who do you need to be?

When I teach sphere marketing, I teach that your sphere is not a database but a compendium of your life. It is within your sphere that you will find the answers, including where you are unique (another topic for another day).

For example, lack of origination experience does not mean lack of experience. Do you have the experience of being a homeowner? An investor? Sales -- or even more importantly real estate sales experience? Experience in financial services or lending operations?

I think you get the picture. Each of these experiences can be drawn upon to help you succeed and if I was hiring, I would hire rookies with experience -- if that makes sense. Next week I will talk about two characteristics which are a requisite for success -- sphere and investment.
--Dave Hershman

Do you have a reaction to this commentary or another question you would like answered? Email Dave at
Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published.   His website is  If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at


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