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1. Lifelong learning
You've probably heard the old adage, "If you think education is expensive, try ignorance." Top producers get it. They are constantly learning new things like:
►What are other successful loan originators doing right now, and why?How do other industries handle similar challenges?
►What can I learn from my experiences and the experiences of others?
I would challenge you to make learning new things a daily habit this year. Personally, I've taken the advice of another top producer I know, and I've started getting up at 5:00 a.m. each morning. I'm not really a morning person … or at least I didn't think I was. But I was surprised at how much I enjoy the quiet time in the morning. It's like I've added an extra two hours of time to my day—productive time without interruption to reflect and learn new things. Try it for a week and let me know what you think!
2. Leveraging new technologies
This will always be a people-business. Technology should never replace the personal relationships you develop with people. That's why top producers take a disciplined approach to new technology. Here are three questions top producers ask and answer about technology:
►How specifically will this technology improve my team's experience in collaborating together, saving time and ensuring compliance with government regulations?
►How specifically will this technology improve my borrower's experience in working with me and my team?
►How specifically will this technology improve my strategic partner's experience in working with me and my team?
The highly respected management guru Peter Drucker had it right when he asked leaders to really consider, "Who's my customer?" In the mortgage business, you have three primary customers: Your Team, Your Borrowers and Your Strategic Partners. Top producers embrace new technologies that help them better serve their three primary customers.
3. Focusing on relationships
What really motivates top producers is the positive impact they make in people's lives. Your mission as a top producer is to improve lives. The way you do that is by originating mortgages. Your reward is fantastic compensation and the feeling you get when somebody's life is enhanced as a result of your service. When you're under-compensated or under-appreciated, it's because you may have lost touch with your core mission of improving lives.
An oppressive compliance regime, challenging market conditions, and unrealistic expectations are just a few obstacles that will stand in the way between you and your mission. Top producers constantly learn, leverage new technologies and overcome the obstacles that stand between them and their mission. That's what separates top producers from the rest of the 520,000 loan originators who are licensed or registered to compete with them. Join us at the next Top Producer Roundtable and walk away with some valuable insights to help you grow the way that top producers grow!
Gibran Nicholas is the founder, chairman and CEO of CMPS Institute and Top Producer Round Table Series. Since 2005, he's helped more than 7,000 of America's top loan originators to grow sales and improve their relationships. He may be reached by phone at (888) 608-9800, e-mail gibran@CMPSInstitute.org or visit CMPSInstitute.org.
This article originally appeared in the January 2015 edition of National Mortgage Professional Magazine.