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Now is a great time to consider top lenders' key attributes and to ensure that you are model-matching the lenders with whom you are partnering to your unique value proposition.
Top originators know who they are and who they are not. Make sure you construct your company pillars and ensure that every employee knows and abides by them. Sharing the vision of executives and senior managers with all staff members equips them with expectations, support and confidence. The communication does not end there: Make it two-way by giving originators a voice and a purpose.
Also, look at your company culture. Have you developed a niche that puts you first in your customers' minds? Are you seen in the industry as an authority on what you do?
To help develop your culture, look at your background. Are you supporting referral partners with similar backgrounds? Remember, customers and partners will more likely trust you if you share a common bond.
Take a peek inside your toolbox and see what is missing. Are you taking advantage of technology related to origination, operations and marketing? Are you capturing "fans" using social media? If not, then you may lose potential clients to competitors who are gaining their attention and allegiance. Many companies are finding their social media sites are paying back tenfold compared to their websites, so make sure to invest time and effort in social media.
The mortgage industry will always change, so there is no reason to wait for the "perfect" time to strengthen your business foundation. Those building blocks are not difficult; they just take commitment and a vision.
Eric Levin is a managing partner at Hammerhouse LLC, an expanding national recruiting and strategic-growth firm for the financial-services industry with mortgage sales and leadership placement at its core. For the past 10 years, Levin has been supporting the strategic-growth needs of clients within the financial-services industry, with a primary focus on the mortgage-banking industry. Reach Levin at email@example.com or (828) 358-0053.
For information on Hammerhouse LLC, visit teamhammerhouse.com.
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