All posts by Coach Victoria

Nov 07
0

Who’s Inspiring YOU?

By | Mortgage Business Tips | No Comments

I love Jack Canfield’s quote, “You’re the average of the 5 people you choose to hang out with the most.”

Go ahead take a mental account of your friends, your acquaintances, business partners, referral partners, and your peers. Sometimes, what you realize is that YOU’RE the one upping the average of everyone else.

Now, that’s all fine and good and strokes the ego nicely. However, it certainly doesn’t help us to grow personally and professionally to always be the one doling out the advice, being in the teacher/mentor role, inspiring and pumping others up. At some point, your own well will run dry.

If you find that you don’t generally turn to your peers, friends and partners for advice and different perspectives or that they aren’t lending any to you of their own accord, the first question to ask yourself is, “Do I really have ALL the answers?” No way!

In order to grow both personally and professionally, we’ve got to be willing to tap into people who we feel possess unique perspectives, are smarter, more creative, and/or more experienced than ourselves. This is the secret to upping our own average and taking our lives to the next level.

So where are the pools we can draw from to fill up our own wells?

  • Professionals who lead seminars, workshops, classes, networking and mastermind Groups
  • Other Top Producing Originators with similar business models
  • Other Sales Professionals in your sphere of influence, like successful Financial Planners, Real Estate Agents, Insurance Agents, etc.
  • Motivational Speakers
  • Business and/or Life Coaches

It may take swallowing a piece of humble pie to embrace the idea of upping our own average, BUT as the saying goes, “Nobody succeeds alone.”

Nov 04
0

Business Planning Season Part II-Why Having a, “Why” Matters!

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Will you make the commitment to see your 2017 business growth goals through to the end?

To determine the true answer to that question, you FIRST need to ask yourself, “WHY are my business goals so important for me to see through to completion, anyway?”

It could be that you no longer want to spend 60 hours a week stuck behind a desk in your office. Maybe, you’re sick of pounding the pavement, asking real estate agents for their referrals. Or perhaps, finding the fun and rekindling your passion for your chosen career is at the root of your goals for 2017.

If you are unclear about your Why, or if your Why is driven not by your needs and passions, but by someone else’s idea of how you should conduct your business (or your life), you’ll discover that you simply won’t have the will to enact the steps to see your goals through to the finish line.

No why-No will = No results!

Your, “Why” is the grander destination you envision for your life and business, which fuels your, “Will” to take the necessary, daily steps to get you there.

Remember when developing your goals for your 2017 business plan, to run your goal ideas past your, “why meter” first. Make sure you have an excited feeling in your gut about the project, system, marketing strategy, etc., that you plan on implementing.

If your, “why meter” runs hot and the goals are in alignment with your current capacity and business growth vision, then SUCCESS WILL BE YOURS!

To get you kick-started, download my Vision Exercise and gain more clarity about your personal, “Why”

Be on the look-out next Thursday for Business Planning Season Part III-Setting Goals…Bigger Isn’t Always Better

Nov 02
0

What’s Holding you Back from Growing your Business?

By | Mortgage Business Tips | No Comments

If you’ve ever found yourself trying to forecast which one of your business growth plans is sure to give you a return on investment, you’ve also likely found yourself pondering too much time away and engaging in very little action.

How do I know this for certain? Because fear of wasting time, fear of wasting money and fear of failure are what keep us from implementing new business growth strategies. In an attempt to mitigate these losses, we try to predict what’s going to work and spend countless hours thinking, planning and researching, but many times, don’t end up pulling the trigger.

Here’s a statement I’ve heard repeatedly from Mortgage Professionals that illustrates this dilemma of trying to foresee the future, “I know I should attempt to meet more Realtors, but I want to know what’s really going to work and what’s really going to entice them to send me business.”

My response to this statement is always the same, “There is no way of knowing what’s going to work. You don’t have a crystal ball. All one can do is to decide what they are willing to try, do it consistently for a period of time and measure the results. If your actions gain results, then we keep pressing forward. If they do not, we try another strategy.”  

It’s important to remember, one size does not fit all when it comes to the growth of your business! What works for one or even what is proposed to have worked for thousands, may not work for you for the simple fact that you are an individual with your own set of interests, strengths, natural ability, etc. When it comes right down to it, what’s going to work are the strategies and approaches you are most willing to implement, which align with your deeper, “Why” or grander, future vision of your business and personal life.

So, stop staring into that crystal ball you bought at the Renaissance Faire, hoping it will illuminate what’s going to work and instead, determine what one or two new business growth strategies you’re willing to try and consider the following questions to ensure you’ll be dedicated to taking massive action…

  1. Is the tool, system or strategy that I’m considering, one that excites me? Do I feel interested? Do I feel challenged?
  2. When I speak about my idea to others do I find myself saying, “I really should try XYZ” Or do I say, “I’m going to try XYZ.”
  3. Does it fit my current capacity? Can I realistically implement it alone or do I need help?
  4. Am I clear about what it will take to implement my new strategy from A to Z?
  5. Do I have a plan?
Oct 31
0

5 Steps to Becoming a Top Producer

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Here are 5 business growth principles that all Mortgage Professionals need to embrace IF the goal is to move beyond closing just a handful of deals each month…

#1Know your numbers. If you don’t track your numbers (i.e. Leads, Closings, Marketing R.O.I, business expenses, relationship-building costs, etc.), you’re likely spending time on low pay-off activities, wasting time with the wrong people, throwing money at fruitless projects and spinning your wheels in a lot of busy-busy work. Knowing your numbers is part of the rule of working smarter, not harder.

2Develop your perfect loan process. Not only will this include the steps that help to see a loan through to closing, but also all of the database management, marketing and customer service “WOW” tasks that will help you to work more efficiently and to create leads and opportunities with each loan that rolls through your pipeline. In addition, this will create a seamless experience for every borrower and Agent throughout the process and after the close, increasing your survey rankings, as well as, separating you from your competition.

3#Plan out your week ahead of time. Taking 20min every Sunday morning or evening to organize files, clean up your email, develop your to-do list, take a peek at your goals and/or business plan and enter time-blocks into your calendar for purposeful, sales/lead-generating type activities will increase your focus and effectiveness 10-fold!

 

4#Develop an annual business plan. As a Mortgage Professional, you are the captain of your own ship and it either sinks or sails depending on YOU. A business plan is like a treasure map, if you don’t have one, how do you ever expect to arrive at your desired destination and reap all the rewards?

 

Find a mentor/hire a Coach. Most Mortgage Professionals find that they feel isolated at times, like a man or woman all alone on an island. They lack partnership, collaboration, accountability and access to alternate perspectives. No one person has all of the experience and all of the answers. Partnering with someone you trust and respect, and who has more experience and knowledge regarding the aspects of your business that you find most challenging, will catapult you over your hurdles and past your road blocks, MUCH faster (and with a lot less agony) than going at it alone.5#

Oct 28
0

Maintaining your Realtor Partnerships in 2017

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This natural partnership between a Realtor and Loan Officer does not always come easy, but to ignore this sector of your business entirely when developing your business plan could make your path toward a steady pipeline that much longer.

Here are some excellent thought-prompter questions that I use with my own coaching clients to aid them in developing their goals and specific action steps regarding their current Realtor book of business.

1. What do ALL of my Realtors receive from me on a regular basis? List what it is and the frequency.

For example: Auto-generated newsletter: Monthly, Invites to Company-sponsored events: Annually, Check-in phone calls: weekly

2. Is there anything else I would like to make sure that ALL my Realtors receive from me in 2017, other than the items listed above and what do I want the frequency to be?

3. What do I want to provide of value to my A and B Realtors in 2017 and at what frequency?

For example: CE courses: Quarterly and/or Realtor appreciation gatherings: 2xs per year, Mortgage educational flyers: Monthly, Content for their Blogs: Weekly, etc.

4. How many face to face appointments do I want to attempt to schedule with my B Realtors each month? What is my agenda for each meeting?

5. How many face to face appointments do I want to attempt to schedule with my A Realtors each month? What is my agenda for each meeting?

6. List out ALL of the Realtor-specific activities that I want to continue to be engaged in or offer to assist with in 2017?

For example: Sponsoring Broker Opens, Co-sitting Open Houses, Sponsoring RE office Training Events, Attending RE Office Sales Meetings, etc.

7. Is there anything that I’d like to do for my Realtors with respect to Social Media like LinkedIn and/or Facebook?

For example: Help to promote listings, Post pictures with borrowers & Realtor from closings, Comment on Realtor pages more, Provide recommendations on their LinkedIn pages, etc.

8. What systems do I use that could be of help to my Realtors?

For example: Co-branded email drip campaign systems, Mutual client birthday notifications, Market update alerts, Open house flyer generation, Mortgage-related smartphone applications, etc.

9. How frequently do I want to review my entire Realtor list to make sure that they are appropriately categorized as an A, B or C Realtor? (Obviously, as time and relationships and circumstances change, so should their category)

10. What else do I want to consider as it relates to the maintenance of my Realtor partnerships as part of my 2017 Business Plan that I feel was not touched-upon in the above questions?

Oct 27
0

Business Planning Season Part I-Keep it Simple!

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There are plenty of excuses for why things don’t get done in our businesses. The best tool in combating those uninspiring justifications is a personalized business plan that fills us with purpose, gives us direction, and most importantly, motivates us to take action.

Ya Gotta Keep it Simple!

Start your business planning process by considering the following ten foundations, which are critical to the growth of your mortgage business.

  1. Time Management
  2. Sales scripts and presentation
  3. Marketing/Lead Generation
  4. Database Management
  5. Customer “Wow” Service
  6. Tracking/Metrics
  7. Building Referral Partnerships
  8. Standard Operating Procedures
  9. Team Building

10. Specialized Knowledge

Select those foundations that you feel will make the biggest impact on your business next year. Once you have decided on the foundations that you will include in your business plan, then, simply write five goals for each foundation.

But, don’t stop there!

Under each of your 5 Goals for every Foundation you selected, you must then give yourself 5 specific Action Steps to take that will help you achieve each goal.

Here’s an example:

Foundation: Building Referral Partnerships

Goal: Add 20 new Realtors into my database who are actively sending me leads by the end of 2017.

Action Step #1: Select 3 networking events that I can attend every month in which I will be around Realtors and enter into my calendar.

Action Step #2: Ask my current “raving fan” Realtors to provide me with a warm introduction to 1 or 2 of their peers.

Action Step #3: Schedule one weekend per month to pop-in at open houses.

Etc….

You can have as many goals and action items as you like, but a good number to start with is either 3 or 5. If you’ve got some support from an Assistant, then go with 5. Otherwise, start with 3 so that your Business Plan is manageable.

Remember…Goals without Action Steps, is like a buried treasure without a map-If you don’t know how to get to it, you’ll likely just give up on it.

Be on the look-out next Thursday for Business Planning Season Part II-Why Having a, “Why” Matters!

Oct 19
0

Four Great Activities to Meet New Realtors

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You’ve likely heard it a million times…”You’ve got to build a relationship!” But, where do you start? How do you even get that first chance to start a relationship with a Realtor you’ve never met or done business with before?

Here are four great ways to get in front of Realtors, that are all easy, budget-friendly and offer the most direct path to success:

Play Leap-Frog-Ask each of your closest Realtor partners to introduce you to two of their peers, perhaps a new Realtor at their office or a Realtor who’s been grumbling about their current Lender or someone who they feel would be an excellent personality match to you.

And, don’t stress yourself out with all of the “what ifs”…What if my Realtors don’t respond? What if the other Realtor doesn’t want to meet with me? What if…?

Just do the first step, which is simply to ask the question.

Beginning the relationship building process is always easiest and fastest when initiated by a trusted peer who is already singing your praises-Social proof has a HUGE impact on gaining more, yes’s to your requests for networking meetings.

Tap into your Refi Database-Here’s an easy one that most folks don’t think about. Send out a mass email to your past refi clients, those for whom you did NOT process their original home loan, and ask them for an introduction to their favorite Realtor. Be transparent in your approach. Most people understand that Realtors are your natural partners, but they certainly do have to be reminded that your continued success depends on all types of referrals, not just to other direct consumers, but to possible Referral Partners, too.

Customers have a lot of power and pull. Think about it, if one of your own past customers emailed you and suggested that you really should reach out and connect with an Insurance Agent they adored, you certainly would not disappoint, would you? Neither will their Realtors!

Tag Along-Commit to tagging along with a Title Rep or other Industry Professional to Broker Opens, “Going on Tour,” and/or popping into Open Houses a few times a month. This approach works especially well for folks who don’t have a database to tap into or who are on the shyer side or simply feel rusty at getting out and in front of Realtors. Leaning on another Professional to break the ice can certainly help you to stretch out of your comfort zones. The trick to this approach is to tag-along regularly and even change-up who you tag-along with in order to mix up the chemistry.

Social Snooping-Research Realtors in your area via LinkedIn or Facebook. Reach out and suggest a networking/coffee date to brainstorm and share business growth strategies. Another great on-line snooping resource is www.ActiveRain.com, a Realtor-specific forum.  In fact, in some areas of the country, there are live Active Rain meet-up groups and generally you will be the ONLY Mortgage Professional in attendance! Truth is, very similar to how the general public has embraced online dating methods, Professionals of all types are getting much more comfortable with meeting potential referral partners initially encountered via social media avenues, like LinkedIn and Facebook.

When reaching out to Realtors via these avenues, it’s always a good idea to snoop into their profile to uncover a particular niche, passion or general interest that the two of you share and use that common thread within your message.

Oct 17
0

Setting Boundaries to Build a Better Business

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Here’s the top three scenarios where drawing your line in the sand is imperative to the growth of your business.

#1-Referral partners who abuse your relationship. You know the ones who throw you under the bus with your mutual clients, call to complain and offer no solutions or support, ask for favors but don’t return them, blow-up your phone, email and text (at the same time) who behave unprofessionally, use profanity and/or raise their voice at you.

The only reason you are putting up with this abusive behavior is due to feeling desperate about your current business situation. However, the fact is that these types of people will never actually help you to grow your business. Instead their abuse will sour your outlook on your business and will also negatively impact your customers.

Letting them go sooner rather than later will help you to make room for better, more mutually-respectful and beneficial relationships. As in any relationship in your life…NEVER settle!

#2-Team members with bad attitudes. This could be an Assistant, a Processor, a fellow Loan Officer or even your, Manager. The last thing anyone needs is to listen to a team member’s complaints, negative rants, passive aggressive quips or personal problems, especially when you are held captive due to the fact that you must rely on them at some point to get your borrowers to the close.

It is never a pleasant feeling to be forced to confront folks, but not doing so will simply lead to more of the same and a seed of resentment will grow inside you and dampen your work experience, as well as your own attitude.

When approaching your, “negative Nelly,” remember these helpful tips:

  • Don’t approach them with the topic while in the heat of the moment. Give it a day or two and then ask to speak to them privately or schedule a time to speak on the phone if the two of you do not share an office.
  • Nobody comes into work thinking, ‘I’m going to do my best to really disappoint my customers and co-workers today.’ So, assume that the root of the problem has nothing to do with you personally and start off by making an observation like, “Hey, Sally, you know I’ve noticed you really seem especially stressed right now and I’m concerned. Is there anything I can do differently that could help you in any way?” This is how you can bring light to the issue without putting someone instantly on the defense.
  • Make sure to be prepared with very specific instances of how and when their attitude has negatively impacted your productivity, work flow, or yours or your customer’s feelings.
  • If all of your best efforts to work out the attitude problem fail, escalate the issue to their direct report and if that person happens to be you, then you need to make the decision if there is any way you can manage them up or if it’s time to manage them out. Whatever you do, don’t delay as the old cliché holds true…One bad apple does spoil the bunch!

#3-Family members, friends or peers who interrupt your work day. Many folks assume that because you are not on a 9am-5pm punch clock that somehow that means you are freer and more available than most.

If you find that your peers are lingering in your office doorway longer than is productive or that your sister or brother call during the middle of the day asking for favors or your teenage children call with a variety of complaints and requests, it’s time to draw that line and set those boundaries.

Giving away 10 minutes here and 15 minutes there adds up quick! Plus, each interruption derails you from maintaining your focus and remaining productive and that just leads to longer work hours. Protect your most productive work hours. Ask your peers to respect your, “Please do not interrupt” signs. Communicate, “Open times” to friends and family and most importantly, stick with it! If YOU don’t, nobody else will.

Oct 14
1

Enjoy this Sunday like a Saturday

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Have you ever been sipping your Sunday morning cup of coffee and instead of simply enjoying the aroma, the peace and the quiet, you’re already thinking about work on Monday and worrying about files?

The best way to combat your sweet cappuccino turning into a bitter cup of Joe is to immediately grab a pen and a notebook and take the first 15-20 minutes of your Sunday morning and empty all of those work thoughts out of your head and dump them onto the page.

Free-up your mind, knowing that your to-dos have been captured, your files prioritized and your goals jotted down.

This list doesn’t have to be pretty, nor does it have to be a list at all. It could be a stream of consciousness journal entry, a mind map, calendar entries, reminders in your mobile phone.

The medium you select doesn’t matter. However, allowing your mind to release its grip on the work week ahead by engaging in this quick exercise means the world to your loved ones who are eagerly awaiting your full and happy presence on this beautiful Sunday afternoon.

Oct 12
0

Is Your Attitude Attracting or Repelling Opportunity?

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On several occasions I have had this dialogue or very similar with new coaching clients:

Client: I’d like to grow my purchase business by developing more worthwhile Realtor relationships.

Coach: Great goal! What are you willing to do to make this happen?

Client: I’m willing to do anything! I’m just not sure what I should do.

Coach : Ok, are you open to some suggestions?

Client: Yes.

Coach: How about looking up listings of top producing Realtors in your area and popping in on their open houses to introduce yourself?

Client:Hmmm, I don’t know. It didn’t work for me in the past and I really don’t want to spend a Sunday going into open houses when the Realtors don’t want me there, anyway.

Coach:Ok. How about scheduling yourself to attend some Realtor Association events or Chamber mixers?

Client: No, because there are always other loan officers around trying to get the attention of the Realtors. Too much competition.

Coach: Well, what if you partnered up with your Title Rep. and put together a presentation on recent changes in the industry and resources that Realtors should be aware of to help them stay abreast of these changes?

Client: I just don’t think that will work. Every loan officer out there is trying to get into Realtor offices and most of them aren’t even interested in what’s going on. All they care about is whether you can give them a referral or not.

Notice any patterns here?

Now if you’re wondering, if I, as a Business Coach, would simply force them to do these things anyway, the answer is HECK NO!

Regardless if something has worked for others, and that could be hundreds of others, asking someone to do something that they have a negative attitude about, will NOT bring about the desired results. In fact, it will create a self-fulfilling prophecy, i.e. “It won’t work.” “They won’t talk to me.” “Nobody will care.”

The good news is that after some attitude re-tooling (yes, attitude is a tool) ANYONE can create new opportunities and successes for themselves, even out of what once was seen as a bag of old tricks.

Brian Tracy, entrepreneur, sales guru and motivational coach says this about attitude:

This attitude of looking for the good in every situation, of looking for the advantage or benefit in any problem or difficulty, is the way that the most successful people think most of the time. Superior people, leaders in all areas, face the inevitable ups and downs of daily life on the way to their destinations by taking complete control of their thinking and their emotions. They do this by choosing the words they use to describe a situation, their tone of voice, and their behavior in dealing with problems.

So, what’s YOUR attitude about getting out there and creating new business for yourself?

Tips to Re-tooling Your Attitude

Here are 3 re-tooling techniques that can adjust your attitude and help you succeed!

A Morning Dose of Positivity –How long has it been since you listened to a motivational series on the drive into work? Download your favorite positivity guru and use your commute, whether it’s 10 minutes or an hour, to accelerate your attitude.

Check Your Attitude at the Door-Every day, before going home from work, take two minutes to complete the following sentence in your journal or notebook: “Because of my positive and willing attitude, today I was able to………” 

Partner-up with a Positivity Pal-Ask a teammate or peer to engage in 30 consecutive days of positivity with you. Agree to send each other one email each day where you communicate one positive experience from your day and a specific wish of positivity to your partner.  It could look something like this:

Dear Daniel: Today I made it a point to get out of my office. I had a very productive lunch with a Realtor partner of mine. It was well worth my time and effort and so much more pleasant than I thought it was going to be. I wish that you have a surprise encounter with someone tomorrow that leaves you feeling GREAT!

Remember, everything starts from the inside – out. Giving yourself the gift of a positive attitude today will directly influence whether opportunity knocks once, twice, three times or ever knocks at all.