Category Archives: Mortgage Business Tips

Mar 27
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Watch-Out for these Time Sucking Vampires

By | Food for thought, Mortgage Business Tips | No Comments

timevampsTime-sucking vampires are amongst us and the faster you can identify them and learn how to extricate yourself from their never-ending thirst, the faster you can get back to being productive, focused and a lot less drained at the end of your work day.

Here are the top 3 time-sucking scenarios that need to be immediately managed and by managed, I mean…Boundaries are set & expectations clearly communicated with a goal of 100% satisfaction, OR you sever the relationship all together.

  1. Loan officers, whether peers or direct reports, who ask you the same questions over and over again, do not apparently take notes or take time to read guidelines and learn their craft. Or, those peers or direct reports who vent tirelessly about their clients, their struggles, the market or what Corporate isn’t doing for them.
  2. Assistants or other support team members who make their work load your responsibility, by constantly having to double-check their work, take tasks back from them, ask how they’re doing with projects, rather than automatically receiving regular updates from them, or those who buck the system, refuse to proactively seek-out solutions or infect the rest of the team with their complaints, negative comments and insubordinate behaviors.
  3. Referral partners who accept your lunch invites, attend your seminars, use your resources, ask for contributions to their marketing, auctions, fundraisers, charitable causes, Broker Opens, Open Houses, demand that their procrastinations become your emergencies and NEVER offer to reciprocate on their own accord in any way.
Feb 24
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Goals Eluding You? Give Yourself Some Grace!

By | Food for thought, Mortgage Business Tips | No Comments

graceGiving yourself Grace is not about giving yourself excuses. Excuses are external, verbal creations that are given to people you believe hold expectations of you. Excuses are mired in guilt and many times an unspoken desire to pass-off responsibility.

Grace is personal and steeped in forgiveness and new solutions. Giving yourself Grace when your goals seem to be eluding you will help you to push past the hard times and make it to the finish line.

Is there a formula for practicing Grace? I’m glad that you asked. My personal formula for practicing Grace is: G=R3, or Grace= (Recall) x (Reaffirm) x (Recommit).

The first step is to Recall all that you have accomplished in the past and to imagine the lift of good feelings and rush of endorphins that accompanied those wins.

Next, it’s very important that you Reaffirm who you know yourself to be at your very best. If you’ve got your list of positive affirmations, read them. If not, write a new set of 10 positive affirmations immediately.

Finally, Recommit to those goals, visions and/or aspirations that you feel passionate about. If you’ve lost the fire for one goal or the other, examine why that might be. Is fear holding you back? If it is, it’s likely a very worthwhile goal that needs to be broken down into smaller steps.

If you feel a sense of boredom or simple disinterest, scrap-it from the plan and move on.

All great accomplishments start internally, as a seed of thought in the mind. The goals that we set are the first promises we make to ourselves to bring those thoughts into action.

If along the way we become derailed, or some of our goals seem to elude us, all we ever need do is to Recall, Reaffirm and Recommit, thereby summoning the blessings of Grace.

Jan 29
0

Don’t let thoughts of Monday steal your Sunday

By | Mortgage Business Tips | No Comments

sunday2Have 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.

Jan 25
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Separating Magnificent Managers from Mediocre Managers

By | Mortgage Business Tips | No Comments

To all leadershipawardmy struggling Branch Managers weighed down by the dual goal of maintaining their own origination, as well as, inspiring other sales people to grow their production…Remember that you are responsible for providing tools, guidance, accountability and expertise to your sales team, but the drive to sell, the desire to close and the self-discipline required to be a successful Loan Officer either exists at the core of the individual or it does not. Being able to quickly identify the core of your sales team members and act accordingly is an ability that separates magnificent Managers from mediocre Managers.

 

Jan 21
0

Flawed Expectations

By | Mortgage Business Tips, Uncategorized | No Comments

expectationsThe following is a list of what I call, “flawed expectations” that are sure to cause my readers to flinch and shake their heads either in agreement or full blown denial.

My hope is that for those Mortgage Professionals who suddenly realize that they may be holding on to one or more of these flawed expectations, that this post will serve as a welcome, “aha” moment that will spur positive change and increased opportunities.

  1. When you expect to generate “X” number of leads each week but your focus and actions are not centered on sales-generating type endeavors every week.
  2. When you expect leads from new referral relationships after one meeting and a couple of follow-up calls.
  3. When you expect to get more done in a day but have no daily plan.
  4. When you expect to maintain a consistent pipeline but work inconsistent work hours.
  5. When you expect to grow your business with the help of an Assistant but have no systems in place.
  6. When you expect referrals for a job well done but never ask for them.
  7. When you expect loyalty from your Realtors but you don’t answer the phone.
  8. When you expect attendees at your event but call no one for RSVPs.
  9. When you expect your team to give their daily goals 110% while you give yours 50%.
  10. When you expect to double your income but don’t invest in your business.

 

Jan 10
0

Interview Questions to Uncover the Best Assistant for YOU!

By | Mortgage Business Tips | No Comments

If you’ve come to that pivotal time in your career where your level of activity, focus and production warrants hiring a part-time or full-time Assistant, let me be the first to congratulate you!interviewingpeople

Hiring an Assistant may feel like a daunting task, but it is the only way you will be able to move your production to the next level. However, if your systems are not in place and you do not have a clear plan written down as to how you will best utilize an Assistant, you run the very real risk of wasting your time and money and taking a step backwards in your production, instead of forwards.

Always Remember: systems come first, and then people resources, when it comes to growing a business.

In the excitement, rush and sometimes desperation to get an Assistant on the team, there’s a tendency to see what we want to see in our candidates instead of what’s really there.

In order to combat this common mistake, it’s very important to prepare insightful interview questions that will lead to the candidate talking 80% of the time and you talking 20% of the time. You also want to be able to ask the types of questions that will uncover the following:

  • Previous work experience
  • Customer Service & Professionalism
  • Motivations & Expectations
  • Commitment & Interest

To aid you in this very worthwhile endeavor of hiring the best Assistant for YOU, I’ve included my, “Uncover the Best” set of interview questions to DOWNLOAD and use as you see fit.

 

Jan 09
0

Are You Gaining Results from your Business Coaching Relationship?

By | Mortgage Business Tips | No Comments

cropped-address-bar-victoria-fifield.pngHiring a business coach is no small matter, decision or investment. Therefore, when you do finally find the, “right” Coach for you, it’s important that you reflect on and measure the results you are gaining from this very important business relationship.

Here are the top 10 things that your Business Coach can help you achieve if you are fully engaged in the process and are doing your share of the work-load:

I help my clients to…

1.     Turn wishes into goals and goals into calendar-driven action plans

2.     Consider alternate perspectives/stretch out of one’s comfort zones

3.     Embrace already-proven business growth strategies that fit your personality type

4.     Hone-in on your strong points as a sales person and leverage those strong points

5.     Incorporate your passions/interests into your business

6.     Balance competing priorities between home and work

7.     Remain focused on high pay-off activities

8.     Determine business growth strategies that fit your current capacity

9.     Use solution-based thinking as you approach challenges and make decisions.

10.   Identify and eliminate “time-sucking & energy-draining” activities, tasks, people and mindsets from your daily experiences.

All of which will help you to increase your income, succeed in business and live a more balanced and satisfying life.

 

 

Jan 02
0

No Follow-up-No Glory!

By | Mortgage Business Tips | No Comments

CoffeeCupIdeaOne of the biggest foibles that will cripple any sales person’s business growth is lack of follow-up.

In coaching Mortgage Professionals over the last decade, I’ve been told countless times by my clients how they feel that their #1 weakness in their business is poor follow-up as it relates to potential referral partners, attendees of presentations/classes they’ve given, leads from various, costly systems, and even with their own team members regarding task assignments and project management.

Why a sales person doesn’t follow-up at all or does so poorly, stems from one or more of the following (3) root causes:

  1. Lack of self confidence
  2. Lack of organization/time management
  3. Lack of systems

In most situations, tackling the latter two causes will cure the first, so my recommendation is if you find that you struggle with strong and consistent follow-up, turn your attentions, first, to identifying in which circumstances you fail to follow-up the most and then ask yourself the following questions:

  • Do I have a proper series of follow-up call and email scripts for this given opportunity?
  • Exactly how many, “touches” do I feel is required to gain the value from this opportunity?
  • How much time am I willing to invest overall in the opportunity?
  • What system can I utilize to automate my follow-up efforts?
  • What system can I utilize that will prompt me to take each follow-up step?
  • Am I able to decipher between a good and viable opportunity for me vs. an opportunity that is best passed along or left on the table for someone else?

In answering the six questions above, you will then possess a detailed needs list in which to develop your perfect follow-up strategy to any given opportunity.

The last question from the list above generally stops people in their tracks. Many sales people have the mindset that every opportunity should be tackled with with the same amount of gusto. However, throwing yourself into every co-marketing offer, potential referral partnership, seminar series, membership and board committee is going to immediately hamper your ability to follow-up and follow through effectively in order to gain a real return on investment from any one of these opportunities. I am here to tell you that not all opportunities are to be treated equally, which is a whole other article topic in and of itself, so stay tuned for that one!

Need help in creating and implementing your Perfect Follow-up Strategies? Feel free to FOLLOW UP with me. I’m never too busy to help you achieve your business growth goals!

 

 

Nov 18
0

Look Back So You Can Leap Ahead!

By | Mortgage Business Tips | No Comments

reviewtimeI can tell you from a Business Coach’s perspective that forecasting one’s sales numbers and setting clear income goals is an exercise most often overlooked by solo-entrepreneurs and is exactly WHY it is the 1st step in my business plan development process with my own clients.

If you don’t set your earnings goal, and you don’t break it down to numbers you can track on a daily, weekly, and monthly basis, how are you holding yourself accountable to the grander visions of your business?

How do you gauge when you need to put the pedal to the metal, or when you can give yourself some deserved time off? You can’t! Hence, the feeling of overwhelm, and eventual burnout.

When determining your income goal this year, avoid being too conservative or getting mentally stuck in the here and now. Remember, you are embarking on a new adventure of building your business. Opportunities will spring from the goals in your business plan that you simply cannot predict right now. So go ahead, astonish yourself and set the bar a bit higher.

For example, if you made $82,500 last year and you’re thinking that there’s a good chance you can make $100,000 this year, push yourself a bit beyond what you think you know to be, “realistic.” Tack-on another 10% to cover all the unforeseen possibilities that your new business focus will generate. The number you choose should feel like a stretch but still motivate you.

Have you ever heard the saying, “The numbers never lie?” Well, there couldn’t be a truer statement when it comes to your mortgage business.

Knowing your numbers and tracking results is the ultimate way to treat your business like you mean business! So charge into 2017 like the C.F.O. you truly are and eliminate all excuses to attaining your grander visions of your life and career.

Get started now by downloading Coach Victoria’s Income Forecast Worksheet.

Be on the look-out next Thursday for Business Planning Season Part V-What Does a Great Mortgage Business Plan Look Like, Anyway?

Nov 16
0

No Time for Hibernating!

By | Mortgage Business Tips | No Comments

hibernatingDo your Realtors and Mortgage peers seem to curl up and go into some form of hibernation around the Holiday seasons?

Then that’s the perfect time for YOU to turn up the heat on your own business planning efforts.

Don’t just send out cards, make calls before the holiday rush is in full force.

Don’t just squirrel away cuz it’s chilly outside, grab your parka and make it to those holiday mixers, company parties, town festivities, etc.

Don’t just talk about what you’re going to do differently in 2017, gather up a couple of B2B professionals and write down your goals together, brainstorm, collaborate and become each other’s accountability partners through the winter season.

Don’t let your Realtors go it alone with their charity events, fundraisers, etc., Call ’em up and ask how you can lend your helping hands to their causes this holiday season.

And when the ice and snow simply get to a point where driving anywhere is just not an option, then that’s the perfect time to really delve into social media, blogging and videos.

Staying active, even when your Realtors may grow cold and house-bound, creates an enormous edge for you so that when everyone does finally come out of their hibernation haze, YOU will be the first one they immediately warm up to!