Every loan originator that has closed more than one loan understands how quickly they can become trapped in a world of reactive activity! I believe the main reason most originators don’t close more business is because they often are too busy to do more business! Being busy isn’t a sign of success, it’s a sign your systems don’t work so well and you are spending too much time being reactive to others because your system isn’t proactive enough to filter out much of the drama and reactive nonsense we often see.
Learning from your own business experience will help you get most of the way; wanting to do better and close more units in less time will get you the rest of the way! First thing you need to look at is where your time goes? Again, being busy working on files isn’t an answer; it’s a vague statement of your self-imposed reality! The question is, “What has you so busy?”
So many originators have no idea how long it takes to take a client from first contact to closing. They never think about how their own system causes or eliminates issues. More importantly, they never create a perfect process for themselves, their clients, and their referral partners, that limit the drama and creates a great experience!
Just think about this the next time you feel overwhelmed, what am I doing, why am I doing this, and how could I have avoided this? Why are we chasing documents? Why are we answering the same questions over and over again for the same people? Why are we scrambling around the week before closing trying to put it all together when we KNEW what needed to be done when we first spoke to the client?
The reason is that your system to take that client from contact to closing didn’t contain a series of “Proactive Filters” to prevent much, if not all of the drama many originators spend their time trying to resolve! Many originators will state that they just need an assistant! I say, you need a better SYSTEM!
Questions or comments: Mike@IMTcoaching.com