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Write You - Things My First Mortgage Mentor, Trainer, Broker Should Have Told Me...Part II
This article relates to the Training competency, commonly evaluated in employee surveys. It comments on the value of training to both the company and its workforce. The Training competency investigates how your employees perceive the available training opportunities and quality of training. Growing an organization's internal knowledge base is crucial to the success of any business and ensuring a growing knowledge base means investing in the training of your employees. A Gallup poll conducted in 1998 reported that eight out of 10 employees said they would be more li
If you don't continue to invest in marketing programs, self-improvement courses, continuing mortgage education, newsletters, and other mortgage services that will improve your lot...you'll fall behind your competition and surely fail in the mortgage business.
How much should this investment be? A minimum of 10% of your gross mortgage earnings is recommended. Many Mortgage Professionals I know invest close to 20% of their gross each and every year back into improving themselves and their business.
If you're new to the mortgage business you need to not only make a time commitment but a dollar investment as well. The drop-out rate in the mortgage industry is extremely high. Don't become a statistic.
Invest and re-invest in yourself a
Growth is vital to prosperity. Every person, every company, and every national economy must grow. Are you working for a company that is growing? Is it growing profitably and with no decline in velocity? What happens when the growth rate is low or even negative?If the company as a whole or your business unit lags behind competitors, your personal progress will suffer. If the company's sales are flat for five or six years, people will not have the opportunity to be promoted and move forward. Top managers will begin to cut costs, cut the number of employees, cu
7. Find a mentor.
There is a lot to learn. So much so, it's sometimes overwhelming. Working with someone who is experienced can help in areas that are unclear and confusing.
With a mentor, you can see concepts in motion, then emulate their techniques, and finally, tailor them to fit your personality and business. Many of the greatest minds in history had mentors when you come to think about it...
Socrates mentored Plato...Plato mentored Aristotle...Aristotle mentored Alexander the Great...Warren Buffet has mentored Bill Gates...and so on, and so on.
Remember, two experienced people can also team up and mentor each other. It's called "parallel mentoring," and real estate professionals have been doing it for years. With this concept, it's not a matter of learning new skills, but finding a better and more efficient way of getting things done by working together. Teaming up with another Mortgage Professional could be the solution for you.
8. A mortgage loan transaction has lots of details.
When you only have one loan transaction, you'll be able to do it all. But when you have three, four, five, or more in the works...it's more difficult to keep track of the all the dates and deadlines.
Set up some checklists that you and your client can follow for every step in the transaction. Your customer will love you and remember you for it.
9. Spend your technology dollars wisely.
You don't need the newest and latest gizmos. But, you do need ones you understand and will use.
You don't want to over spend and drain precious finances. However, you do need to take inventory of technologies you do have and use regularly. A simple upgrade may be all that's required.
Look for inexpensive programs that can make your marketing efforts easier and more efficient.
10. You need a business plan.
No if's, and's or but's...set up your business plan now. Too many people fly by the seat of their pants on this one.
A business plan aligns your strengths and values with your business. It forces you to set long term and short term goals. It forces you to think about your business in great detail.
If your goal is to close 24 loans in the next twelve months...work backwards to determine how many loan applications you need each month and eventually, how many people you need to contact each day to reach that goal?
Break your goal into bit size pieces...like a daily contact sheet or score card...and, keep track of your efforts.
11. Sometimes you just have to say "NO."
Sometimes you let your prospects dictate to you. If you control your time and efforts, everyone wins and the service you provide is exceptional.
Stick to your schedule and try batching your work. For instance, rather than answering each call as it comes in...return your morning calls at 11 AM and afternoon calls at 3 PM.
Be efficient and organized but not to the point of providing poor service.
12. Continue to invest and re-invest in yourself and your Mortgage Business.
If you don't continue to invest in marketing programs, self-improvement courses, continuing mortgage education, newsletters, and other mortgage services that will improve your lot...you'll fall behind your competition and surely fail in the mortgage business.
How much should this investment be? A minimum of 10% of your gross mortgage earnings is recommended. Many Mortgage Professionals I know invest close to 20% of their gross each and every year back into improving themselves and their business.
If you're new to the mortgage business you need to not only make a time commitment but a dollar investment as well. The drop-out rate in the mortgage industry is extremely high. Don't become a statistic.
Invest and re-invest in yourself an
Process of Proactive Detection of Fraud 1. Build the Proper Team Regardless to the total size of the team, there should be at least three specific experts. The first is a domain expert that has an inside perspective of the industry and the business. The second is a technology specialist that is familiar with the system being used by the company. Lastly there needs to be someone familiar with fraud and the symptoms involved with it. 2. Team Must Develop an Understanding of the Business
8. A mortgage loan transaction has lots of details.
When you only have one loan transaction, you'll be able to do it all. But when you have three, four, five, or more in the works...it's more difficult to keep track of the all the dates and deadlines.
Set up some checklists that you and your client can follow for every step in the transaction. Your customer will love you and remember you for it.
9. Spend your technology dollars wisely.
You don't need the newest and latest gizmos. But, you do need ones you understand and will use.
You don't want to over spend and drain precious finances. However, you do need to take inventory of technologies you do have and use regularly. A simple upgrade may be all that's required.
Look for inexpensive programs that can make your marketing efforts easier and more efficient.
10. You need a business plan.
No if's, and's or but's...set up your business plan now. Too many people fly by the seat of their pants on this one.
A business plan aligns your strengths and values with your business. It forces you to set long term and short term goals. It forces you to think about your business in great detail.
If your goal is to close 24 loans in the next twelve months...work backwards to determine how many loan applications you need each month and eventually, how many people you need to contact each day to reach that goal?
Break your goal into bit size pieces...like a daily contact sheet or score card...and, keep track of your efforts.
11. Sometimes you just have to say "NO."
Sometimes you let your prospects dictate to you. If you control your time and efforts, everyone wins and the service you provide is exceptional.
Stick to your schedule and try batching your work. For instance, rather than answering each call as it comes in...return your morning calls at 11 AM and afternoon calls at 3 PM.
Be efficient and organized but not to the point of providing poor service.
12. Continue to invest and re-invest in yourself and your Mortgage Business.
If you don't continue to invest in marketing programs, self-improvement courses, continuing mortgage education, newsletters, and other mortgage services that will improve your lot...you'll fall behind your competition and surely fail in the mortgage business.
How much should this investment be? A minimum of 10% of your gross mortgage earnings is recommended. Many Mortgage Professionals I know invest close to 20% of their gross each and every year back into improving themselves and their business.
If you're new to the mortgage business you need to not only make a time commitment but a dollar investment as well. The drop-out rate in the mortgage industry is extremely high. Don't become a statistic.
Invest and re-invest in yourself a
When stress beats a person down long enough one common result is that the fight goes out. This experience is not something reserved for older people. It can happen at any age, given the right circumstances. The right circumstances include the conviction that a job must be endured to the bitter end. The end is retirement. And so when the worker burns out the strategy becomes one of hiding from the limelight (dead wood) or going into a helpless/hopeless mode that forces management to perform a rescue or make a decision to terminate the worker.The dead wood bur
You don't want to over spend and drain precious finances. However, you do need to take inventory of technologies you do have and use regularly. A simple upgrade may be all that's required.
Look for inexpensive programs that can make your marketing efforts easier and more efficient.
10. You need a business plan.
No if's, and's or but's...set up your business plan now. Too many people fly by the seat of their pants on this one.
A business plan aligns your strengths and values with your business. It forces you to set long term and short term goals. It forces you to think about your business in great detail.
If your goal is to close 24 loans in the next twelve months...work backwards to determine how many loan applications you need each month and eventually, how many people you need to contact each day to reach that goal?
Break your goal into bit size pieces...like a daily contact sheet or score card...and, keep track of your efforts.
11. Sometimes you just have to say "NO."
Sometimes you let your prospects dictate to you. If you control your time and efforts, everyone wins and the service you provide is exceptional.
Stick to your schedule and try batching your work. For instance, rather than answering each call as it comes in...return your morning calls at 11 AM and afternoon calls at 3 PM.
Be efficient and organized but not to the point of providing poor service.
12. Continue to invest and re-invest in yourself and your Mortgage Business.
If you don't continue to invest in marketing programs, self-improvement courses, continuing mortgage education, newsletters, and other mortgage services that will improve your lot...you'll fall behind your competition and surely fail in the mortgage business.
How much should this investment be? A minimum of 10% of your gross mortgage earnings is recommended. Many Mortgage Professionals I know invest close to 20% of their gross each and every year back into improving themselves and their business.
If you're new to the mortgage business you need to not only make a time commitment but a dollar investment as well. The drop-out rate in the mortgage industry is extremely high. Don't become a statistic.
Invest and re-invest in yourself a
"Real champions believe in themselves even when no one else will!" Author UnknownTo take your life and business to a level that makes you ecstatic there is a good chance you will need to step boldly into the world and stand distinctively apart from others. Here are 5 tips to support you to embrace the unknown in a big way and maximize your results.Fully Express Your Self~ Concern for what others will think often results in presenting “a diluted version of ourselves to the world” says the leader of the Think Big Revolution, Michael Port (http://www.Mi
Break your goal into bit size pieces...like a daily contact sheet or score card...and, keep track of your efforts.
11. Sometimes you just have to say "NO."
Sometimes you let your prospects dictate to you. If you control your time and efforts, everyone wins and the service you provide is exceptional.
Stick to your schedule and try batching your work. For instance, rather than answering each call as it comes in...return your morning calls at 11 AM and afternoon calls at 3 PM.
Be efficient and organized but not to the point of providing poor service.
12. Continue to invest and re-invest in yourself and your Mortgage Business.
If you don't continue to invest in marketing programs, self-improvement courses, continuing mortgage education, newsletters, and other mortgage services that will improve your lot...you'll fall behind your competition and surely fail in the mortgage business.
How much should this investment be? A minimum of 10% of your gross mortgage earnings is recommended. Many Mortgage Professionals I know invest close to 20% of their gross each and every year back into improving themselves and their business.
If you're new to the mortgage business you need to not only make a time commitment but a dollar investment as well. The drop-out rate in the mortgage industry is extremely high. Don't become a statistic.
Invest and re-invest in yourself a
In many states the Department of Motor Vehicles comes under fire because the customers are not satisfied with the level of service. In some states the Department of Motor Vehicles is the subject of many jokes anytime someone has to wait in line. Sometimes when in line at the grocery store people will say; this sure is a lot better than the Department of Motor Vehicles; even though there are 10 people in each line and only three checkers.There is really no excuse for poor customer service at the Department of Motor Vehicles in any state. Consider if you wil
If you don't continue to invest in marketing programs, self-improvement courses, continuing mortgage education, newsletters, and other mortgage services that will improve your lot...you'll fall behind your competition and surely fail in the mortgage business.
How much should this investment be? A minimum of 10% of your gross mortgage earnings is recommended. Many Mortgage Professionals I know invest close to 20% of their gross each and every year back into improving themselves and their business.
If you're new to the mortgage business you need to not only make a time commitment but a dollar investment as well. The drop-out rate in the mortgage industry is extremely high. Don't become a statistic.
Invest and re-invest in yourself and business each and every month. Budget the dollar amount and then review and increase that amount as you close additional loans. You'll be guaranteeing your advanced degree in marketing and finance and your mortgage success.
13. You'll have "bad" days, and then it'll get even worse.
Yes...we all have them. And, because you're dealing with deadlines and people being inconvenienced...things can get a little heated.
So, do the best you can...don't panic...keep people informed, and...be honest. Everything will work out for the best...and just kept smiling:)
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