THE 3 WORDS EVERY ORIGINATOR MUST KNOW TO SUCCEED IN 2018
While we all “Hope”2018 will be another good year for the real estate and mortgage business, I think we all realize deep down inside that hope is truly not a strategy. As I have coached originators this year and spoken around the country I have found that everyone has goals but few truly accomplish them.
There are many reasons why these goals are not accomplished and I hope you will truly read this article so you can avoid making these same mistakes. Perhaps the main reason for failing is that we don’t have an actual goal. You can’t just say you want to do well it must be quantified and it must be written down AND it must be planned.
GO BACK AN RE-READ THAT BEFORE YOU MOVE FORWARD OK?
You can’t just hope to have a good year or achieve any goal. Instead you must clearly state it and create a plan to attain it. Maybe most importantly you must have a way to track your progress and see if you are on track or if you have gotten off track somehow.
Here’s an example- I WILL earn 100,00 0 in 2018. Notice I said WILL not WANT. (I’ll get to this subtle but important distinction later.)
My average commission is 2000 from an average loan of 200,000 at 100bps
I now know that I need to do 50 loans a year or 5 a month ( accounting for fallout) and 1 per week.
NOW FOR THE HARD PART—HOW???
Unfortunately many loan officers come up with the first part but never get to the hard part which is actually planning where these deals will originate. It’s nice to say you want to earn 100,000 and that you need 50 loans, but now the big question is how will you generate them.
You need to think of your business as a 4 legged chair meaning you should always have at least 4 marketing methods you are always working on. The reason to think about this as a chair is because a chair with just 1 or 2 legs will crumble, but a chair with 4 legs is very solid.
Here’s an example from my own production.
2. Referrals from past clients and other referral sources
3. Publicity – Articles – Radio- TV- book 4.
4. Direct To Consumers – direct mail – facebook – webinars
IMPORTANT NOTE – NOTICE I DID NOT SAY 34- I SAID 3 OR 4!
All too often we find ourselves coming up with the next big idea or the next shiny object and going down a different path.
When you try to do everything – you will likely your find yourself doing NOTHING !!!
SO LET’S TALK ABOUT THE 3 WORDS NO ONE ELSE MENTIONS TO YOU THAT ARE CRITICAL TO EVERY ORIGINATORS SUCCESS.
Are you ready ? I mean really ready because you can’t simply read this and benefit. You truly need to ponder and consider and think and act.
Let me break each of these down for you. They are from the popular book Think and Grow Rich by Napleon Hill who said a person can accomplish whatever they can conceive –believe and achieve .
Miss anyone of these key ingredients and you can not succeed.
STEP 1- CONCEIVE
We have spent the entire first part of this article discussing how to conceive and actually break it down into steps that are attainable. If you just glanced over that part go back now with a highlighter and write this plan down.
STEP 2- BELIEVE
This is going to sound harsh so get ready for some NO BS advice. I have watched originators for the past 30 years who succeeded when they had everything stacked against them while others who had every advantage simply withered and left the business.
It’s actually been a topic that has always fascinated me and I have dedicated my life to studying.
I want you to write this down-
YOU WILL ONLY ACHIEVE TO THE LEVEL OF YOUR CURRENT SELF IMAGE
Ever see someone do really well, better than expected and then melt down? It may have even happened to you ?
The reason is that the person exceeded their self image. To put it in our terms, let’s say you want to close 12,000,000 and you have a month where you close 2,500,000 . I can bet you that the next few months you will close 1,000,000 or less because you have performed OVER your current self image. Just because you closed 2,500,000 one month does not make you a 30,000,000 producer.
YOU WILL ACT AND PERFORM CONSISTENTLY WITH YOUR SELF IMAGE.
Keep in mind this does not happen concisously but rather under the radar subconsciously.
I could and probably write a book just on this topic but for now really take some quite time to make sure your goals are in sync with your self image of who YOU are…. Not who you want to be but who you truly are.
STEP 3- ACHIEVE
We are now finally at the last step and while I have quoted the book by Napoleon Hill earlier in this article I have to also give you a warning.
YOU CAN NOT JUST Think and Grow Rich. You must actually act.
Now don’t misunderstand me, you must have positive thoughts . In fact you will act according to your thoughts whether positive or negative. The point though is that you now have a written goal , you know what you must do to achieve it. Hopefully, you have even the time to BELIEVE it.
But you won’t ACHIEVE without action. Not to sound corny but it’s true when you hear that you must work your plan and plan your work.
Here’s to a Great 2018!!!
PS # 1- If you are interested in joining a community of originators who are dedicated to growing their production you want to get on the Top Originator Mastermind Early Bird list and learn what I will be revealing in Jan
PS#2 – Ever wonder what it would be like to an UNFAIR EDGE over other loan officers
go to a quiet place and watch this on demand training
PS # 3- If you are a current member of Boomerang Expert – Renters Into Loans or the LO UN Fair Edge Program- you should received the link to our upcoming Member OnlY Q and A call on the 4th at 3 eastern. I will be sending a reminder next week. Look forward to answering your questions.