“Mastering Monday”

My experience in the mortgage industry has taught me a few things that seem to hold true across all markets in all price points; Master Monday and the rest of your business will fall in line! Regardless if you are new to the business trying to get started, or a seasoned veteran with a growing practice, the art of Mastering Monday is the key. The failure to understand how, why, and what to do on Monday can often be the difference between gaining traction or quitting, growing your practice or becoming stagnant in the same place. In any case, Mastering Monday will go a long way in providing you with a weekly focal point and can dictate how and what adjustments you make to your practice each week.

Monday is a day of following up with opportunities. Monday is a day of collecting. Monday is a day to chart a result and schedule the future. Monday is a day to talk to people you know. Nobody has time in our business to deal with cold calls on a Monday, at least not the people who it is important to know! If it isn’t a warm call, then don’t make it on Monday!

For new originators trying to get started in the business, Monday morning is the time to check and see who called in or any referrals you received from having worked open houses over the weekend. If you are new to the business and aren’t spending time on the weekend hitting open houses and connecting with agents, sellers, buyers, and neighbors of those open houses, you are likely missing a golden opportunity to establish yourself in the business with the people you need to know, as well as creating instant loan opportunities. Once you have cleared the messages, it is time to write the personal notes to those you met and the sellers of those open houses. Last, schedule your follow-up calls with the agents you met over the weekend for after lunch, agents are busy putting together deals on Monday morning, respect their time!

Established mortgage professionals on the other hand, need to be making “collection calls” on Monday morning between 10am and noon. Every agent you have established yourself with gets a call to ask, “Who did you meet over the weekend that I need to talk too?” Making these calls is vital to your established relationships because they are in the middle of putting deals together and now is the prime time to get in front of all the opportunities they have established.

Monday is also a time you can expect a lot of new contracts, inquiries for pre-qualification, and a number of referral partner calls asking for help structuring deals, so be careful not to over book Monday with activities or events and plan for the fact that you may have to work a bit of overtime on Monday when all good things come together at the same time! If you are established in the business and Monday isn’t a busy day, you need to check what you are doing to prospect because it should be! As an established originator, you need to be prepared for every referral partner to have a lead for you to follow, and for every pre-approval to have gone into contract!

Mastering Monday can make all the difference in your business. Knowing what to do is almost as important as what NOT to do! Budgeting your time, triage your work flow, control the process, and managing your opportunities can turn chaos into close loans!

Questions or comments: Mike@IMTcoaching.com


 

Would you like to have “The Mortgage Mentor”, Mike White come to your office for a one-day training that is sure to supercharge the amount of loans closed in 2018 and beyond?  Get Mike’s 2018 Site Visit Special today.  Click Here for more information.

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Mike White

Improve My Tomorrow Coaching is a company founded by Michael F. White to help mortgage professionals reach their true potential. Based on a belief that working the fundamental principles of the loan origination business combined with a solid system to leverage your day to day business into a self sustaining career! If you are looking to generate consistency in your business, you need to know and implement the fundamentals. Once you know what to do and when to do it, being a mortgage professional is fun, challenging, and profitable. Since the average loan originator in the country closes less than three loans a month, the average originator is unaware that closing seven, ten, twelve or more loans per month is often easier and less stressful than just two or three! If you are tired of the pain and punishment of not knowing where your next deal is coming from; if you spend more time being “busy” instead of “productive”; you need to look and see how we can help you get to a whole new level of business. Take some time to explore this website and read all the free information. If you find some things that cause you to rethink how you are currently doing your business, let us help you! It starts with YOU! There are two programs you can choose, a group program and private coaching. Please look at both before you make your choice.

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