It seems as if originators have exited our business almost as fast as they came in when things were easy.  This is great news for those of you that are staying, but you would do well to learn from the many that have left. 

Those that did not succeed struggled with most, if not all, of the categories below.  These are basic things that simply did not get the attention they needed, did not become a priority, and did not become systems within the originator’s business.  The easiest way to NOT fail is to decide where you can improve and then move your business forward in the right direction. 

Work to create your own marketing plan to consistently stay in touch and offer value to referral partners.  Volatile rates and market conditions won’t affect your business as strongly.  Your hard work in maintaining and growing these referral ties will also result in higher quality and quantity loans.

2.  Little or no database marketing.  Highly successful originators have large databases and are in constant contact.  Your database should include not only past clients and referral partners, but also everyone that you currently know, such as business contacts, loan prospects along with friends and family.  Continually work to expand and grow your database by networking.

Set up a monthly mailing program.  The system that worked best for me was 9 postcards a year along with 3-5 value mailings.  Value mailings include any coupons, information marketing, holiday card or other promotions you may have.

Start a phone campaign and contact your entire database at least once a year to see if they have any questions about their current mortgage, a new mortgage or if they know of anyone looking for a mortgage.  Doing this is a vital part of training your database to give referrals when the opportunity arises.

3.  Not considered an expert or credible.  This has become an important issue with the “mortgage meltdown.”  Consumers and referral partners are both looking to work with knowledgeable and reputable loan officers.  Referrals will increase and your business will grow as you become well known in your market. 

All marketing should reinforce that you are both an expert and trustworthy.  From your e-mail signature to your website to the letters you send; all should state your commitment to quality.  Consider offering a guarantee to give clients confidence in your abilities.

Look for opportunities to give presentations, both to referrals partners and potential clients.  You will quickly become viewed as an expert.  Consider getting involved in leadership positions within organizations.  This has tremendous value developing greater credibility.

4.  Fail to implement successful marketing plans.  There are thousands of ways to market yourself successfully.  What usually keeps these plans from working is the execution. 

Every spring, I get excited about gardening.  I buy new plants; spend hours working the soil, planting, mulching and watering.  I stay dedicated to weeding and watering until about July.  Then my enthusiasm starts to wane.  It’s hot and I’m bored with the work.  So what happens if I quit?  The plants stop looking healthy and wither.  Your marketing is the same.  It’s easy to be motivated at the beginning.  But when things become more difficult or perhaps mundane, our natural instinct is to slack off.  You then deny yourself the rewards of success.

Choose your marketing wisely; you are more likely to succeed with something that excites you.  Prepare for times when you will feel less motivated and less likely to take action.  A great way to do this is to be accountable to someone such as a coach or manager; this will push you to work harder and accomplish your goals. 

5.  Quit when discouraged or faced with rejection.  This business can get discouraging.  Rejection comes – daily at times.  Trust me; those that are successful have had their share of discouragement and rejection.  What sets them apart is the fact that they work through the discouragement and let the rejection roll off their back. 

Don’t beat yourself up if you hit a few bumps. Accept the fact that bumps are in your job description.  Pick yourself up, dust off those marketing plans and get back to work.  Each day brings the opportunity to try something again or perhaps something new.   Learn from the marketing that didn’t work as well as from the rejection. 

These five areas are your keys to higher production.  Succeed at them and you will succeed at originating.

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