In that column, I focused on Attitude. In this column, I'll cover the rest. 

O is for Opportunity 

Opportunity is where we separate the wheat from the chaff. This industry is full of marketing and sales events in which top producers get up and tell you what they do as top producers. The attendees take copious notes, but for many success does not follow. Why? Because top producers recognize opportunities and take advantage of them. They pounce when the opportunity is there.

I have often said that I could dump a ton of leads on a low producer’s desk, and they would produce next to nothing. I could put a top producer at a table in a supermarket with a sign that says “mortgages here” and they would come back with some loans. Unfortunately, seminars can’t make money telling the attendees that. But it is the truth.

So, to change your results, you need to open your eyes and see the opportunities you are missing. Many of these are right under your nose—for example, in your pipeline. And when you see the opportunities, you need to take positive action.

R is for Relationships

All the opportunities in the world will not bear fruit unless you have the ability to leverage opportunities into relationships in the long run. Whether you are talking about converting a lead or working on a long-term referral source, the relationships you cultivate will be a major determinate of your success.

Surely, you have been told that you should work to meet the needs of those you serve. However, you won’t get deep enough to determine their real needs without trust. Without trust, you will likely only hear “what is your rate”? You can’t develop trust without a relationship. Relationships enable you to go deeper past their immediate focus to their long-term needs such as kids in college or retirement. And if you are dealing with a long-term referral source, you certainly won’t become a trusted partner without a relationship.

V stands for Value.

It is not enough to just develop relationships. You have to add value to these relationships to achieve lasting success. In the case of the loan officer, there are two main targets which present opportunity to add value:

• The homebuying or refinance prospect. If you offer the lowest rates in the nation, you will convert prospects, but they are not likely to lead to long-term relationships. On the other hand, if you identify areas of added-value, the relationship can reach another level. For example, how does the home they are purchasing figure into their retirement plan? As their most important investment, it is critical this question is answered and you can help in concert with their financial advisor(s).
• The referral source. Whether a real estate agent, a financial planner or another source of referrals, the focus here will be different. Providing great service should be a given. If you are adding value to the relationship, what is the most important value you can deliver? Referral sources are in business and thus adding business to the equation would bring the ultimate value. How can you help them enhance their business?

Taken together, these attributes – Attitude, Opportunity, Relationship and Value -- represents the pathway to success for any originator. This is true of any year and any market.

Dave Hershman is Senior VP of Sales of Weichert Financial and the top author in the mortgage industry. Dave has published seven books, as well as hundreds of articles and is the founder of the OriginationPro Marketing System and Mortgage School – the online choice for expert mortgage learning and marketing content. His site is www.OriginationPro.com and he can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it..