I haven’t worked with a Mortgage Professional yet who didn’t have a relatively high degree of, “control freak” in them.

Sometimes this affliction stems from the simple fact that the vast majority of Mortgage Professionals come into the Industry as lone rangers, responsible for everything from their own marketing and sales to administrative, accounting and processing duties.

Other times, it’s a simple matter of having never worked in a team environment or ever being responsible for recruiting, hiring and managing a support team.

Being “in control” of it ALL sounds, to many, like a great place to be. However, owning all of the moving pieces that have to do with a mortgage career will inevitably keep you from the growth you desire. Even the Lone Ranger had Tonto!!

The first and most important skill anyone must hone-in on in an effort to abolish the “freak” from one’s control, is the skill of DELEGATION.

Here are 5 helpful steps to practice and keep in mind, as you begin to share your responsibilities with team members:

Step One
Before you can delegate, you have to know WHAT you’re going to delegate. Having a very clear, “Not Doing List” can be a great place to start. Jot down all those activities which you vow never to do again. Rank these tasks in order of importance to the success of your business.

Step Two
Next, you must compare the nature of the tasks to the skills and abilities of your team members. It is essential that you delegate the task to someone who you confidently believe can complete the task satisfactorily. 

Step Three
Communicate exactly what you expect from your employee. Be specific. Assume nothing. Most importantly, take the time to share best ways to accomplish the tasks. It’s likely that what you are delegating was long ago mastered by you, so put some time into giving your employee tips on how best to succeed and meet your expectations. Remember, nobody wants to fail at a task.

 Step Four
Step four is generally the one step that gets overlooked, but is the most important step in the art of delegation. You must establish systems of accountability. Set up a recurring appointment with your employee to report on progress.

Communicate deadlines on individual tasks. If there are several tasks that are being handed over, then set a priority to the task list to ensure that your “hottest” tasks are tended to first.

Step Five

YOU are still responsible at the end of the day. What? Yep, delegation does not mean you step out entirely. If the task is important to the growth of your business, then it’s important that YOU stay on top of it. It’s your business, your baby, so to speak and you know the old saying, “Nobody is going to love your baby more than you do.”

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1. A real connection. Identifying shared interests or a similar business vision.
2. Opportunity for a next meeting to further the relationship.
3. An introduction to another Realtor peer.

What do you need to ask, share, listen for or display so that the time you spend sipping lattes or cocktails with a potential referral partner adds up in value, not just calories?

Here are three examples of goals you may want to make part of your own, New Realtor Meeting Strategy:

1. Gain an understanding of how they conduct their business

Ask questions about…

1. Their best marketing strategies.
2. How they prefer to be referred.
3. Their methods for “wowing” their customers.
4. What matters most to them about their referral partnerships.

Most importantly, focus on listening. You should talk 20% of the time and they should talk 80% of the time. Be encouraging and upbeat. Do NOT nod your head in agreement to their woes. Share your joys, not your fears.

2. Ask for permission to follow up with them

If you enjoyed their company and ONLY if you enjoyed their company, do you ask if they may find it valuable to remain connected. Ask if they would be open to receiving ideas, best practices and other tips and resources that may help them to grow their business.

3. Never leave the meeting without asking, “Who of your peers may be an “orphan” right now in need of interviewing other Lenders?” Or, “Who of your peers do you feel would be a great match for me based on my personality or business vision?”

Need more ideas to keep your Realtor meetings on-track, interesting and purposeful?

Click to download my “Ice-Breaker Questions.”

And remember, winging it is never a strategy.

Are you one of those business professionals who tends to try and fill up fast on the latest and greatest marketing ideas, sales campaigns, lead generation tools, script tips, seminar ideas, etc., etc.? Yep…me, too.

What I’ve found to be a very effective exercise for slowing the flood to a manageable stream is to revisit one’s business goals.

Once refocused on your end vision, you can then gain clary around exactly which two or three innovative ideas/gadgets/systems are really going to fit into your current capacity, budget and business vision. 

Next step is to unsubscribe to anything this is pulling your attention and efforts away from your primary business goals. Ask yourself, ‘Is it really necessary to have three of the top sales gurus in the country sending you weekly email blasts?’ And, don’t forget to turn off your favorite on-line malls like Zappos.com, Borders.com and Amazon.com. Ouch! I know it hurts. But, too many sales campaign email blasts just clogs up your inbox and your brain space.

Third step is to move all of those great ideas that you’ve scribbled down on post-it notes, saved word docs, links to interesting websites, emails and pod cast links into a, “Someday Maybe” task in Outlook. You can then peruse this single holding zone of brilliant ideas after you have fully implemented your primary business goals.

And, lastly, recommit to your calendar. Scheduling your week in advance is a habit, that once adopted, will GREATLY diminish wasted time on low pay-off activities, as well as, minimizing the old, bad habit of drinking from the firehose.

To drink or not to drink from the firehose is a choice we make as soon as we fire-up our computers in the morning. Here’s a quote to recall as your laptop is leaping to life for the day…

95% of the people go 95% of the way and get 5% of what’s available. Winners go 100% of the way and get 95% of what’s available. Odd’s are if you take it to completion you stand a better chance of success.

The Face of Facebook Education

Shanna Wroten-Tucker of Benchmark Mortgage, Idaho is broadening her sphere of new Realtor relationships in a very hip and timely way.

Shanna has become the face of Facebook education and the Realtors in her area are eating it up. Shanna follows up her Facebook presentations with offers of one-on-one, strategic coffee meetings, email tips, tools and resources and invites to other creative and valuable events, like her annual Business Planning workshops and monthly Success Book Club Meet-Ups. Nothing like putting your own interests and hobbies to good, business growth use!

Shanna reports that her efforts have definitely grown her business, her Realtor relationships and her confidence.

The moral of this winning, Mortgage Professional’s story…Remain creative in your business. Incorporate your other interests, hobbies and passions into your business growth strategies. It will keep you engaged and excited about what you do for a living and others will naturally be attracted to you.

The Management hat carries a heavy load, which with the speed of technology, change & communication, gets heftier every day. Not only are you expected to manage sales forecasts, learn and roll out new software applications, switch over phone systems, attend to escalated customer issues and brainstorm new, innovative marketing strategies, BUT you must also be adept at seeking out and managing top talent to continue to move your business forward.

Is that the thrum of an emerging headache I hear?

Out of all of your many responsibilities, the single most important piece to your business-growth mosaic is your TEAM! Ignoring or putting your team issues to the bottom of your priority list will cripple all of your other efforts.

Here’s an exercise that can put your focus back on your most critical resource…your team. Don’t waste another day. Identify who you must manage up and who must be managed out! The survival of your business depends on it.

 4-SQUARE TEAM MANAGEMENT EXERCISE

Green Square:

This is where your “Star Players” belong.  These are your folks who adapt to change, excel in their role, are self-directed, maintain a winner’s attitude, share their best with team members, go above and beyond, exceed personal and company-driven goals. In short, they are a pleasure to have on your team and they directly and consistently contribute to your growth as a Company. 30% of your focus should be spent on these employees.  (Creative Incentives and Rewards as a blog article coming soon)

Red Square:

Here are the team members you will ultimately spend the majority of your focus on. These people have the right attitude and drive. They are engaged and eager to learn and do more. However, in order to pull them into the Green or “Star Player” square, they require some additional training, one-on-one mentorship, more regular encouragement and time to hone their skills. It’s time to co-develop a “growth plan” with these team members. Assign some time to have them “shadow” one of your star players. Provide them with resources, reading materials, classes etc., in order to assist them on their path to success. 50% of your focus should be spent on these employees.

Purple Square:

The team members who you write down into the purple square tend to be consistent, but lack initiative. They will give you 8 hours, show up every day to work, do their job (exactly as their job description dictates) but not much more. They are the people who love to sit in your office and chew your ear in the morning. They have ideas, but rarely implement. It may have seemed at one time that they had the “potential” to do so much more. Perhaps in the past, they even rose their hand to take on additional projects.  These team players can swing up to the red square or slip miserably into the blue square. It’s time to reset expectations with these individuals. Put aside an hour to conduct one-on-one meetings to inquire about their goals, to ask them how they intend on growing with the Company or what their vision of their role is six months to a year down the line. Look for a spark, look for self-guided efforts, but do not hold your breath. Reset your expectations with them and ONLY put out additional time or energy when/if they step up to the plate on their own. 15% of your focus should be spent on these employees.

Blue Square:

Ahhhh, the blue square. Here’s where all of your energy vampires reside and the source of most of your throbbing neck aches. These are employees who undermine your authority, balk loudly at change, show up late and leave early. They may also be the ones who come to work every day and give you eight hours…may even work a bit of overtime here and there, BUT their negative attitude is quietly infesting the overall morale of the team and may be seeping out towards your customers and referral partners. They may have been with your Company a VERY long time, but that does NOT mean you should keep them on the team. An exit plan is LOOOONG overdue. 5% of your focus should be spent on these employees and that is simply for the purposes of beginning to document the issues, gain insight from your HR Department and let them go so they can find the right job for them and you can find the “right” team player for you!

Remember… all of the best systems, services, marketing plans and customer-focused initiatives in the world STILL are only as effective as the people driving them.

These thoughts or similar forms of them is what a prevailing number of Loan Originators will express when I ask them, “Why do you believe you aren’t closing more loans?”

Here’s what I don’t hear:

I’m not closing more loans because I don’t make outbound calls to my past customers.

I’m not closing more loans because I don’t consistently ask for referrals.

I’m not closing more loans because I don’t leverage social media, because I don’t know how to and have chosen not to put the time in to learn how.

I’m not closing more loans because I’m in a funk and don’t socialize, network, mastermind or attend business functions.

I’m not closing more loans because I secretly dislike Realtors and think they all have a chip on their shoulders and I refuse to “grovel” for business and they’re such a pain really and geez, they never return my calls and they are so negative and not many Realtors in my area are doing much anyway and, and, and….

Right now, some of you are smiling. Others are slightly ruffled at what I just wrote. You “ruffled” ones are my target. You are the ones I want to help the most. WHY? Because the ONLY reason you’re not having more success in your business is because you simply haven’t gotten out of your own way.

In pointing your ten fingers at everything external as being the cause of your withered pipeline, you’ve left not even a pinky to poke at your own chests.

It won’t take much. You are actually brimming with opportunity. Doing one or two things differently in your business on a consistent basis will have an avalanche affect. Don’t believe me?

Coaching Case Study #1

Jack hadn’t closed a loan in 6 months. Jack had never targeted Realtors…ever. Why? Because he was not as smart as them. Wasn’t as charismatic as them. He never had tried so it probably wouldn’t work. (This is what he secretly told himself) He had lots of other fears, too, but we decided just to focus on this one and do something different.

Jack joined and started regularly attending the Chamber in his area (even though he secretly thought it was a stupid idea). Jack started popping in to open houses every Saturday with a flyer & a simple script (even though he was terrified of looking stupid). Six months later Jack had closed more loans than he had in over twelve months. True story. And, NO, it wasn’t the flyer, nor the script or his particular Chamber. Jack got out of his own way, ignored the negative, inner voice and just did it anyway.

Physically doing something different is the ONLY way to combat the old tapes of self doubt. Simply trying to think yourself into a different state of mind does not work.

Coaching Case Study #2

Sue considered getting out of the business. Her passion for the industry had just about petered out entirely. The loans were too few and far between and she had a young child to consider. Sue knows her stuff. She prides herelf on being a Professional with a captial “P.” However, Sue had never presented herself as a knowledgeable advisor out in her community. Why? Because she isn’t interesting. She isn’t pursuasive. She’s not enigmatic. (This is what she secretly told herself).

Sue focused on a topic she was enthralled by. She worked for 30 days putting her presentation together, reaching out to others who had spoken on similar topics and creating her PowerPoint slides. Sue had never spoken in public…ever. Sue is now in her second year of hosting her Business Planning Workshops for Realtors. Realtors now call her to schedule coffee dates, get invited to her next events and give her leads. Sue ignored her fears and did it anyway. Sue got out of her own way and found her passion in the industry again.

Blogging needs to be brief. That’s why I’ve shared only two case studies with you. I promise you there are HUNDREDS of others. And just think, I’m one Coach among thousands of others who also likely have similar case studies.

My point to you Ruffled Ones. DO SOMETHING DIFFERENT in order to gain different (better) results, before throwing in the towel. You are likely just a handshake, a lunch meeting, a phone call or personal pop-by away from creating positive and fruitful change for yourself and your business.

Open to some ideas? Visit my Free Help Fan Page for Mortgage Professionals on Facebook.

Interested in Business Coaching? Email your questions to: vdelfrate@icancoaching.net.

The following, highly-specific, customer related questions may be tough to swallow if you’re not ready to tell yourself the 100% truth. However, I believe, if you’re up for the challenge, your answers to these questions will lead you to take actions that will surely have a positive impact on your pocket book in 2011.

How hard do you make it to do business with your customers?

Now, ask yourself again, “How hard do I make it to do business with my customers?” Questions written by: The Mortgage Cicerone, Tony Gallegos To read more from Tony click HERE

Think it’s just a fad? Afraid all your time is going to get sucked into the Facebook void? Still believe it’s just for Chatty-Cathys?

Well, it is a fad, but one like flip-flops, coffee houses or mini skirts, it’s not going to go away. Yes, your time could get swept away in it, but that’s just a matter of discipline. For sure, you will bump into Chatty-Cathys, but heck, as sales folks, we’ve all got a bit of the Chatty-Cathy in us.

Here’s the point though…As a sales person, isn’t it important that you:

A) Stay in front of people and grow your database?
B) Find avenues for providing value to your customers and referral partners?
C) Market yourself in unique and cost effective ways?

So, ask yourself, “Why wouldn’t I jump on board?” And, don’t give yourself the age-old out of, I don’t have time or It’s too difficult. Neither are true!

Recently, there have been a slough of free webinars on the topic of Facebook. If you’d like me to send you a link to one of them, just email me at vdelfrate@icancoaching.net and I’ll be happy to share one with you.

Remember, just because there have been a number of webinars on the topic of Facebook does not mean it’s that complicated to get started. What it just means is that some very smart entrepreneurs are taking hold of a “fad” and capitalizing on it, like any good, little entrepreneur should. In smart marketing fashion, they offer a free webinar, provide a few insights & then hook their audience to then purchase a 3-part training series for “x” amount of dollars for those who want MORE, and of course, many of us do!

Here’s the big but…BUT you don’t have to pay for more!! Just get the basics down and you’ll be well on your way.

Here are some great examples of how your fellow Mortgage Professionals are “working” Facebook in order to capture new Realtor relationships:  

http://www.facebook.com/rebekah.radice?v=wall&ref=ts#!/FreeHelpRealEstate?ref=ts

http://www.facebook.com/FreeHelpForIdahoRealEstateAgents

And, of course, please make sure that you become a facebook fan of mine, too.

http://www.facebook.com/#!/pages/Free-Business-Coaching-Tips-Tools-Resources-for-Mortgage-Professionals/117053291647550

Yes, yes, I know…you give great service, you’re a veteran, you know what you’re talking about. Your Realtors couldn’t possibly get better any place else, right??? WRONG!

Whether you have embraced the fact that Realtors are just as natural a partner to you in business, as your wife/husband is as a partner to you in marriage, will determine how your purchase business pans out for you this summer.

Just as with your marriage, if you’re not paying attention to the needs of your partner, if you’re not still attempting to impress and woo, if you’re not spending quality time together, the relationship will grow stale and the next thing you know, your Realtors are having coffee dates with someone else!!

Try taking your Realtor relationships from macro to micro. What I mean is, if you’re already stopping into their offices or have put on a few workshops or seminars, now is the time to move your relationship into a more personal space.  Inviting your Realtors to one-on-one coffee dates, small mastermind groups, business book clubs, and if you’re comfortable…on a double date for dinner with your spouse and theirs, will move the relationship from “business tentative” to “trusted partner.”

In the following video, I share some foundational principles to building referral partnerships for you to consider…