Let’s start out with why does it even matter what your process looks like before a client is in contract? The reality is that 5 or 10 years ago it wasn’t that important and it was only a function of organization. With the way our industry has changed and is changing if you don’t have this process or a similar process in place, you’re going to struggle going forward.
With technology improving, rates being competitive if you only offer average services technology will be able to offer average services but cheaper. If you’re the lo that says “I’m always available” the internet is more available than you are. So what is your value?
The 2nd reason is are you a mortgage planner/mortgage professional or debt giver?
For a long time lenders have been able to get away with being debt givers. originators were a conduit for a homeowner to get a mortgage and that was good enough. With technology now and as it gets better people won’t need a human conduit to get a loan.
At the same time, I don’t see a time where homeowners don’t want to work with people. But if they are going to work with people they want it to be the right person and a person who gives them more than a computer program can.
Once of the biggest mistakes, I see originators make and this is even for high producing originators is that their upfront process isn’t scalable. Everyone has some sort of process but is it repeatable, is it something that you do exactly the same way every time, is it something that If you left the office for a week and had a friend take over they would know exactly what to do with every new client?
If not then you can’t scale. Most of the time when I hear an originator feel like they are stuck or they’ve been at a certain level of production and can’t break through the thing holding them back is their upfront process. What they do has gotten them to this point but doing more of that isn’t what’s going to take them to where they want to go.
In this series I’m going to lay out my 6 step process on how to successfully originate, manage your clients, provide a true mortgage planning experience where not only will you be able to grow, but you’ll be able to create so much value for your clients that they’ll become raving fans and market shifts and changes won’t stop you from being successful.