The
current

mortgage
market
starkly
contrasts
with
the
booming
years
of
2020
and
2021.
Both
borrowers
and
loan
officers
face
a
changed—and
changing—landscape.
However,
success
remains
within
reach
for
those
committed
to
adapting.
The
winners
in
every
market
know
how
to
take
advantage
of
opportunities,
and
below
I’ve
outlined
some
actionable
advice
on
how
to
approach
this

market
with
that
winning
mindset.

The
state
of
the
market

Even
with
some

rate
relief
anticipated
over
the
next
year,
the
combination
of
limited
inventory
and
the
lock-in
effect
means
there
won’t
be
a
lot
of
movement.
All
this
is
true,
but
it’s
no
reason
to
make
excuses.

As
we
emerge
from
the
downturn,
now
is
a
great
time
to
evaluate
your
company’s
support
for
your
business.
Does
it
offer
the
necessary
products,

technology,
and
industry
experience
to
thrive
in
both
busy
and
slow
cycles?
If
at
some
point
in
the
past
you
chose
your
company
based
on
compensation
versus
platform
or
leadership,
you
might
be
feeling
trapped
by
your
decision.
Ultimately,
long-term
success
hinges
on
having
the
right
tools
to
streamline
your
processes
and
enhance
productivity
for
both
your
clients
and
business
partners.

What
it
takes
to
be
a
top
producer

You
want
to
be
a
top
producer?
Great!
I
want
that
for
you,
too.
Over
my
30
years
working
with
originators,
I’ve
observed
one
key
difference
between
top
producers
and
everyone
else:
consistency.
Top
performers
maintain
a
steadfast
commitment
to
their
goals
and
stay
highly
organized.
They’ve
established
systems
that
dictate
their
daily
activities,
ensuring
they
remain
focused
and
productive.
Top
producers
commit
to
regular
tasks—like
sending
a
weekly
economic
update—without
fail,
and
they
recognize
that
results
take
time.  

Understanding
your
market

I
often
ask
new
hires
a
series
of
questions,
and
their
answers
tell
me
everything
I
need
to
know
about
their
current
performance.
Here’s
what
I
ask
(and
what
you
should
know):
How
many
transactions
have
occurred
in
your
market
over
the
last
month?
The
last
quarter?
The
last
year?
What’s
the
most
common
product
mix?
Are
borrowers
using

VA,
FHA,
Conventional,
Jumbo?
Who’s
getting
the
business?
Who
are
the
top
realtors
in
the
area?
The
top
builders?
If
you
can’t
answer
these
questions,
you’re
missing
vital
opportunities.
Today
you
can
easily
leverage
technology
to
enhance
your
market
expertise
and
thus
position
yourself
ahead
of
the
competition.

Know
your
products

Extensive
product
knowledge
is
also
essential
to
success.
From
Fannie
and
Freddie
specialty
programs
to
first-time
homebuyer
down
payment
assistance
programs
to
subsidized
interest
rates,
you
need
to
know
it
all.
You
also
need
to
know
all
the
specialty
programs
available
in
your
state
as
well
as
your
community
bond
programs—and
how
they
can
be
stacked.
Beyond
that,
it’s
smart
to
learn
the
brokerage
programs,
too.
The
more
knowledgeable
you
are,
the
more
value
you
add,
and
the
more
confidently
you
can
engage
with
realtors,
builders,
and
clients. 

You
are
the
secret
sauce

So
now
you
know
the
key
to
becoming
a
top
producer
is
consistency
of
effort
and
knowing
your
market.
But
there’s
one
more
thing:
you.
Emerging
from
the
isolation
of
the
pandemic
has
been
a
tricky
transition,
especially
for
salespeople.
We
became
efficient
on
Zoom
and
discovered
how
much
time
we
could
save
by
eliminating
our
commutes.
These
are
great
lessons,
but
the
truth
remains:
If
you
want
to
build
your
business,
you
need
to
get
into
the
community.
The
one
thing
that
no
other
salesperson
has
is
you. 

Attend
open
houses,
connect
with
local
realtors,
and
engage
with
potential
clients. 
Hosting
first-time
homebuyer
seminars
can
also
establish
your
presence
and
credibility.
Today,
we
see
agents
and
business
partners
more
open
to
conversations
than
ever
before
because
people
aren’t
connecting
like
they
used
to.
While
digital
marketing
is
important,
personal
connections
remain
the
key
to
building
trust.
And
remember,
your
Zoom
etiquette
may
be
a
bit
different
than
what’s
appropriate
for
an
in-person
meeting.
You
only
have
one
shot
to
make
a
first
impression
so
dress
professionally. 

Get
an
accountability
coach
(Hint:
Look
to
your
manager)

Sometimes
we
all
need
a
little
outside
assistance
to
stay
the
course.
You
can
have
a
vision
and
create
a
performance
plan,
but
accountability
is
the
key
for
this
entire
process
to
work.
When
someone
is
invested
in
you
and
actively
measuring
your
performance,
you’re
going
to
improve.

A
good
manager
can
and
should
serve
this
role.
When
I
look
back
at
my
career,
every
successful
office
I’ve
seen
started
with
a
great
leader
in
the
branch.
You
can
have
every
sales
tool
in
the
world,
you
can
have
great
rates
and
great
back-end
support,
but
if
you
don’t
have
great
leadership,
you
won’t
likely
see
the
same
level
of
success.
Good
leaders
create
a
positive
culture
within
the
office.
They’re
the
ones
fueling
the
business,
encouraging
their
teams,
and
promoting
continuing
education—all
the
things
you
need
to
thrive. 

So,
here’s
my
advice:
If
your
leadership
isn’t
enthusiastically
supporting
your
development
and
success,
move
on. 

How
do
I
know
your
plan
will
work?

I
know
this
plan
works
because
I’ve
seen
it
in
action,
time
and
time
again.
Here’s
one
great
example:
a
member
of
our
team
increased
his
production
from
$19
million
to
$70
million
last
year
simply
by
committing
to
meet
a
new
realtor
every
day.
It
wasn’t
a
new
marketing
strategy,
it
wasn’t
tripling
his
social
posts,
it
wasn’t
some
whizbang
new
product
that
no
one
else
had.
It
was
making
the
effort
to
connect
with
his
community.
That
alone
changed
the
trajectory
of
his
business.
You’ll
find
there’s
a
great
sense
of
energy
when
you’re
around
other
people.
You
also
learn
a
lot
of
new
things,
which
is
especially
important
for
rookie
loan
officers.

Bottom
line:
Get
back
to
basics

If
your
goal
is
to
be
a
top
producer,
keep
it
simple:
Work
hard
and
be
willing
to
learn.
Don’t
let
self-doubt
hinder
you.
Stay
consistent,
build
your
expertise
and
your
connections,
and
if
you
need
one,
get
an
accountability
coach
(or
change
organizations
if
you
aren’t
feeling
supported).
There’s
nothing
revolutionary
about
these
steps,
but
it’s
amazing
how
many
originators
don’t
take
them.
When
applied
with
consistency,
they
will
transform
your
career.

John
Bianchi
is
the
EVP,
National
Production
Manager
In
Market
Retail
for
loanDepot.

This
column
does
not
necessarily
reflect
the
opinion
of
HousingWire’s
editorial
department
and
its
owners.

To
contact
the
editor
responsible
for
this
piece:



[email protected].

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