Written By: Doug Smith, Speaker & Author (DouglasASmith@msn.com)
It's no secret that for the most part, the mortgage industry does a lackluster job at training its people. Many (if not most) mortgage originators receive no formal training at all. By contrast, consider that:
- At Marriott Hotels, front desk clerks receive one full week of on-the-job training before they are permitted to register their first guest.
- The telephone operators/booking agents at Disney Cruise Lines must complete three weeks of intense classroom training and testing before taking their first phone call.
- Estes Trucking Company requires new drivers to complete an intensive driving school, tests, peer review and a comprehensive final exam before taking the wheel.
- At Google, all employees at every level are encouraged - and paid - to attend seminars, workshops, trade fairs and conferences throughout the year.
Although mortgage loan originators can earn significantly more than most of the employees in these companies and professions, there is still the responsibility for lending continuing education throughout their careers.
What's worse, some loan originators actually avoid training opportunities altogether (webinars, classes, and tutorial sessions) when offered by their company, vendor, or local lender association or online. (www.MortgageCurrentcy.com)
The last 10 years and the relative ease of doing business and originating loans have resulted in a virtual "dumbing down" of our industry, and unfortunately, it shows.
It's time for a change, and it is time for you to become a real student of your profession. Read mortgage industry publications, subscribe to valuable online content and e-zines and enroll and participate in mortgage networking groups. Attend training courses and local seminars throughout the year on topics relevant to your success. (Pay your own way to go if you must!) Pick up good books on sales, marketing, business planning, personal motivation and customer service from your local or online book store and read them cover-to-cover.
If knowledge is power then the lack of knowledge makes you powerless.
Borrowers want to work with a "smart" mortgage lender, as do real estate agents and other referral partners. Most of all, your peers and your boss enjoy the company of a smart, well-informed colleague, one with which they can share strategies and brainstorm new ideas and best practices. Be that kind of mortgage originator - the smart kind - and the kind of mortgage originator you yourself would want to work with.
Copyright - 2010 - LoanOfficerMagazine.com
