Start a Midyear Shift: 6 Steps
Now is a great time to pause and readjust your business techniques
In the mortgage industry, the shift bet ween purchase and refinance business is constant. So is the need
for mortgage brokers to stay ahead of
their competition. If you’re ready to get
ahead of the curve, increase your revenue and grow your market share, then
the following six steps could put you on
the right path.
1. Know and grow
you should understand intimately the
ins and outs of the loan products you
offer. you also should seek new loan
Top producers can respond to new
inquiries immediately. When pros-
pects call in search of a loan, you
should know which product to offer
and be ready to answer all questions
related to it. If you can’t, someone
else will. Attempt to describe, sell
and close loans on the spot, whether
by phone or in person. The more you
know, the easier this will be. This
includes staying up-to-date about
updates about financial markets,
loan programs, government incentives and more.
Consistency and frequency will yield
results but only if you offer relevant information that benefits your readers.
your clients want to know how to save
money. If you discover a new financial
development that you think will improve their lives, let them know.
When you’re the first to inform people about important news, you gain
instant credibility as a market expert.
Automating as much of this as possible is crucial because it allows you
to spend more of your time originating
and closing loans.
business growth. Evaluate your business periodically. Ask yourself how
your business compares to a year ago,
two years ago or five years ago.
2. Automate communications
If you don’t already, work toward
implementing a system that e-mails
clients, prospects, real estate agents
and referral sources each week with
We don’t just stop at processing your files. We provide your clients a device that will handle and monitor their collection calls.
Remember, you’re in the sales business. It’s your job to offer product ideas
and strategies to your clients. A daily
prospecting regimen of three or more
hours should lead you toward the income level you desire.
The same goes for building referral sources. If you originate one to two
loans a week, what are you doing with
the rest of your time? Try to spend three
hours a day prospecting and three
hours a day developing new referral relationships. Be sure to thank those who
refer clients your way.
Most important, don’t wait for the
phone to ring. The calls you place lead
to the calls you receive.
“You should understand
ins and outs
of the loan products you
offer. You also should
Do you find satisfaction in what you
do? Does your business model meet
your expectations? If not, look at your
competition and consider possible
changes to your approach.
Our Affiliates know we’re different.
Here’s why. ➤
• 100% Commissions; No Volume Requirement
• Advanced Training & Support Provided
• Superb Client Retention
• Web-based, State-of-the-Art CRM Support
• Electronic Signature
• Marketing Resources
• Net-Branch Opportunities
• Attorney Model
• We do business in all 50 states
• Monitoring Device to help reduce Collection Calls
• Part-Time or Full-Time Agents
4. Pursue Realtors
One of the best ways to create success
as a mortgage broker is to develop
strong and lasting referral relationships
It’s always shocking when mortgage
brokers express negative thoughts
about Realtors. Don’t get caught in this
trap. Realtors sell homes, and most of
their clients need purchase loans.
When a Realtor contacts you with a
prequalification request, respond immediately and follow up right away with
the prospective client. Speed is critical.
If you don’t take care of business, a
6. Promote yourself
If you don’t toot your horn, who will? Include your certifications on your business card. List your honors, awards
and other recognitions in your personal
biography. Moreover, make sure you
have a personal biography. Share Realtor and client testimonials with prospects. Keep your Web site current and
in top condition.
Self-promotion is fundamental to
growing your business and personal
brand. Become the market expert in
your community. Find new referrals and
increase your profile by hosting trainings, events and workshops in your
This year is half-done. Take some
time to pause and assess your business. What’s working for you and
what’s not? How can you get better?
Making a midyear shift could lead you
to a new level of success and keep you
ahead of the ever-changing curve. •
5. Keep up with trends
Although there are no substitutes for
hard work, exceptional client service
and creativity, it’s also crucial to remain
tuned in to industry developments.
When the homebuyer tax credit was
extended and expanded, did you get
the word out to your clients, prospects
and referral partners? Never assume
people know what might appear obvious to you. If you do, you could miss a
vital marketing opportunity.
Watch continually for new opportunities and trends to support your
Francis Phillips is director of business development for Brightgreen Home Loans Inc., a
national mortgage lender. He is responsible
for creating marketing programs, strategies
and training, and with more than 25 years’
financial and lending experience, he is a
top producer at the company. Reach him at
email@example.com or (505) 690-7251.
Jane I. Burns, assistant director of business
development for BGHL, focuses on marketing
communications, strategies and programs.
Reach her at firstname.lastname@example.org or