How to Not Burnout in the Mortgage Business

By far, the biggest source of burnout for mortgage brokers and loan officers, as well as any other sales profession, is focusing on an audience that does not want to do business with you.  This is called REJECTION, and although many people claim to “love” it, I don’t think that’s the case, at least not in the long run.

The #2 reason for burnout is instability in your lead generation.  Not having a good system in place will burn you out QUICKLY.  When you are self-employed, you want to have consistent systems that bring in nice, steady flows of leads on a regular basis.  You can’t just “wing it”.

Let’s review the four criteria that will help you eliminate the frustration of wasting your time on rate-shoppers, tire-kickers, ‘looky-lou’s’ and other time-wasters.

Your prospect must be:

1. Interested. They must want to have a legitimate reason for wanting to do business with you. Find out what their motivation is and capitalize on it.

2. Pre-qualified. I still see professionals working with unqualified prospects.  Talk about a waste of time and marketing dollars.

3. Sold on You and your Service. They want to do business with you. You’ve positioned yourself as the person to get a mortgage from… they trust and respect you, and are ready to work exclusively with YOU.

These are the criteria that you want to have in place before the prospect even sits down with you.  The prefix “pre” could not apply more in this situation.  You absolutley need committed, motivated people from the get-go, or you will hit burnout really fast! Solid mortgage training and mortgage marketing plans will bring you these pre-qualified prospects in abundance!

Chris Hallmark – http://www.loanofficermarketinglab.com/chrish