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Leaders should make others feel like important parts of the overall effort. An inspired sense of purpose can propel your success and keep your team excited about the tasks at hand.
4. Understand perception
Perception is the process of attaining awareness or understanding from sensory information. It's a concept applied often within mortgage lending. For example, a perceived increase in risk can cause secondary investors to pull back purchasing, increase pricing or discontinue products. In addition, borrowers generally work with mortgage brokers they perceive capable of delivering the best price and highest level of service.
Our individual perception results in part from past experiences and cultural influence. Understand how others perceive you and work to enhance that perception. Also, know why you perceive others the way you do.
5. Use obstacles as guide
During the ongoing economic downturn, many mortgage professionals find themselves waiting for the next big obstacle to success. These obstacles -- increased interest rates, fewer loan programs, stricter underwriting and tighter regulation -- often come in groups.
Mortgage brokers must pay attention and use changes to guide them. Remaining flexible and knowing when and how to adjust can help you maneuver your way to the front of the stampede.
6. Execute your plan
Success requires more than an idea and a plan. It requires execution that delivers results. Your execution should support your mission statement and achieve what you set out to accomplish. Not only must you work efficiently, but your staff also should. Keep your eyes on your goals and let them drive your success.
As you establish yourself as an industry leader, make sure to take time to look around. Leaders must know what changes are afoot and react ahead of the curve.
Susan J. Frost, president and founder of Alliance Mortgage and Marketing, a wholly owned subsidiary of I.F. Independent Financial Corp., is a 26-year veteran of the mortgage-lending industry. She has practical experience in mortgage banking, real estate investing, property management, business-systems management, mergers and acquisition, and sales and marketing, her second-greatest passion.
Contact Frost at firstname.lastname@example.org or (916) 207-7960.
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