We all want to close more loans , make more money and still have time to enjoy life right?
So I want to share a very quick way for you to do exactly that.
What I am about to share with you will sound very simple and that is probably why very originators ever stop long enough to actually do this.
IF YOU WANT TO EARN MORE THERE ARE ONLY 3 CHOICES…
- Ask Your Company to raise the basis points you earn on each loan.
This is not likely to happen given the compression going on in our industry. Truthfully, during this time of the year when many are being recruited actively you need to make sure that if you do make a switch the company you are switching to has the ability to stay in business long term.
You know the old saying- if its sounds too good to be true … it probably is.
2. WORK HARDER !
This might be a solution for a small minority of originators but only you know who you are right? The truth of
course is that most of us probably work too hard already. But let’s remember what we wanted as I laid it out in
the beginning of the article.
We want to CLOSE MORE LOANS- MAKE MORE MONEY- ENJOY LIFE.
Many originators could not work any harder than they currently do so that is not a long term solution. Plus,
working harder is in CONFLICT with enjoying life right? One quick lesson here before we go any further.
YOU MUST BE CAREFUL WHAT YOU WISH FOR.
3. CLOSE THE SAME AMOUNT OF LOANS BUT MAKE MORE MONEY!
Yeah, I know what you are thinking and I personally that we could still get overage too but that is NOT our reality and it is not the strategy I want to share with you.
FIRST- AN EXERCISE OK?
Go Back to all of the loans you closed in 2018
Write down the total number of loans you closed____________
Write down the total dollar volume______________________
Write down who you referred the deals to you or the tactic that generated it______________
Seriously- STOP READING RIGHT NOW and do the exercise or the advice is useless !
Print it out if you have to.
If you did the exercise than you now have some VITAL information you can use to quickly make more money -work less and enjoy life.
THE QUICKEST WAY TO IMMEDIATELY INCREASE YOUR INCOME IS TO INCREASE YOUR AVERAGE LOAN AMOUNT SO YOU CAN CLOSE THE SAME AMOUNT OF LOANS AND WORK LESS HOURS…
You now know how many loans you closed
You know who gave you those loans
You know what your average loan size (was) because we are going to increase it.
I just did this for 2018 and my average was much higher than in 2017 because I made the effort to do this exercise.
Which means I made more closing the same amount of loans!
The other thing you will find doing this exercise is that certain agents doing larger purchases while others focus on grants and other lower first time buyers. Now that you know this you should of course put more effort into cultivating more relationships with those agents and others like them.
Please don’t misunderstand this. If you have a great realtionship with an agent who occassionally does a smaller grant or first time buyer loan that is fine. I am talking about agents who SOLELY focus on smaller purchases.
So there you have it and I would love your thoughts and feedback.
OH- and I almost forgot, if you want to have tested and proven strategies to generate new relationships and the software that automates all of this tracking for you visit https://briansacks.samcart.com/products/48books
Dedicated To Increasing Your Production