Let me ask you something.  Did you get into this business to be average?  When you landed your first job as a mortgage loan orig-inator, did you tell your family and friends your goal was to be “mediocre” at what you do for a living.  My guess is that the answer to both of these questions is a resounding “no!”  You got into this business to make great money and to be a success.

Maybe you are okay being average, and that your loan production of three to five deals a month is adequate for your goals, income and your ego.  Maybe not.

If you fall into this middle ground, now is a great time—while the year is fresh and new—to set your sights on moving your results to above average.  To produce above average, you need to perform above average.  That means doing what you do better than the “average” loan originator.  For example:

Average mortgage lenders really know and understand about three or four mortgage programs.  To be above average, you must know and understand five to six programs.

Average mortgage lenders might make one key sales contact a day.  To be above average, you must make at least two to three key sales contacts a day.

Average mortgage lenders are poor or slow at follow up on leads and call-backs.  To be above average, you need to follow up on leads daily and return calls within the hour.

Average mortgage lenders establish referral relationships with just three or four key strategic partners (Realtors, etc.) and then stop.  To be above average, you need to establish referral relationships with five to ten key strategic partners.

Average mortgage lenders saddle themselves with a lot of poor quality loans and low-end referral sources.  To be above average, you’ll need to wean yourself off of the low quality loans and focus on high quality clients and partners.

Average mortgage lenders are mostly reactive, allowing the events of the day to rule their time and attention.  For you to be
above average, you must have a game plan and run your day from a to-do list, proactively and in control.

Average mortgage lenders do the minimum of what borrowers expect.  To be above average, you’ll need to make weekly loan status calls, attend your closings, send out surveys, and mail hand-written thank-you cards to your clients—things they don’t expect.

As you can see, being above average takes more time and energy, and that’s why two-thirds of mortgage lenders will never rise to that level.  If you are willing to give more, you will get more.  It has always been thus.

Now that 2011 is here, decide you are going to be above average by doing things above average.  People will notice, you’ll feel differently, and you will be richly rewarded in ways you cannot imagine.

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