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Are You An American Idol?
Written By: Karen Deis, Publisher
American Idol fascinates me. It attracts an average of 30 million viewers (and voters) per week.
What if there was an American Idol contest for mortgage originators? Would you win?
And what does the show have in common with the mortgage business? In my own Simon Cowell-kind-of-thinking, there are quite a few comparisons.
Did you know that over 70,000 people auditioned, and less than 200 were sent to Hollywood for even the first cut? Do you know how many loan originators you are competing with in your area? When you receive a phone call or inquiry from a client, you, in reality, are auditioning just to make the 1st cut!
The 32 finalists were separated into 4 groups of 8. Out of 8 contestants in each show, the voters choose the top 2. I believe that group dynamics play a huge part in each show. In the first show, only 1 singer stood out with the rest being mediocre at best. In the 2nd show, the singers were generally, awful. The 3rd show was the best—with virtually ever singer possessing superstar potential.
I think you are as good as the group you hang with. Are your co-workers and friends bringing you down or building you up to do your best?
While Simon, Paula and Randy “comment” on each performance, it’s the public that votes which contestants make it and which ones fade into obscurity. In the mortgage business, it could be your boss coaching you, but it’s the consumer who makes the ultimate decision to do business with you. It’s your past clients who make the decision to refer you or not. The moral of the story: Play to your audience—not the judges.
Not every singer can sing every song. In the mortgage business, you can’t be all things to all people either. You need to choose which genre—or niche market—that is suited to your personality, education and interests. Become KNOWN for one thing in your market place—do it well and you’ll see your income and “idol status” soar.
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Take the American Idol Quiz
Do you have what it takes to be an American Idol in the mortgage industry? Take the American Idol quiz and find out? (The singing and dancing questions have been eliminated (from the original quiz) but these are some of the questions taken from the idol website.) You can either take it now, or download it. CLICK HERE TO DOWNLOAD.
- Do you have any experience performing on stage—like school plays, speaking in public? Y N
- Do you take your work seriously? Y N
- Do you enjoy being the center of attention? Y N
- Do you enjoy performing for others? Y N
- Are you self-confident enough to know that you are good, even when people put you down? Y N
- Do you value yourself and your instincts? Y N
- When people say unkind things about you, does it get you down? Y N
- Do people look at you as a leader or role model? Y N
- Are you able to take constructive criticism without getting defensive? Y N
- Do you have a supportive family? Y N
- Do you have supportive friends? Y N
- Do you make friends easily? Y N
- Are you easy to get along with, even under stressful conditions? Y N
- Are you loyal to your friends? Y N
- Are your friends loyal to you? Y N
- Do you take direction well? Y N
- Do you give in easily to peer pressure? Y N
- Do people often comment that you are unique and you have your own style or personality? Y N
- 19. Do you dress for you and not according to fashion or trends? Y N
- Are you creative? Y N
- Do others comment on your creativity? Y N
- Do you have a strong work ethic? Y N
- Do you look for quick or easy ways to get things done, even if it means sacrificing quality? Y N
- Are you proud to be you? Y N
- Do you spend your free time in an creative endeavor? Y N
- Do you do volunteer work? Y N
- Do you like to show off (in a fun way) when you are with friends? Y N
- Do you often smile? Y N
- Do you laugh a lot? Y N
- Do people describe you as friendly and outgoing? Y N
- Are you good at answering questions on the fly? Y N
- Do others seem to be drawn to you? Y N
- Do you believe that most superstars are “discovered”? Y N
(Disclaimer—this questionnaire appeared on the American Idol Website and is no way an indication on how you will perform.)
If you answered YES to 27-33 questions—You are a mortgage superstar idol
YES to 21-26 questions—You have superstar potential
YES to 15-20 questions—You may not make it to round 2
YES to 0-14 questions – You may be an underwriter
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Idols are “created” and not “born”. They have coaches. They have publicists. They improve with each performance. Consider each phone call you receive as an audition; each client as a voter; your knowledge of the industry (niche) market, as your genre and make a concentrated effort to improve your sales skills with each performance.
Break a leg…Karen Deis, Publisher
Copyright, 2004, LoanOfficerMagazine.com
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