Do You Have The Knowledge To Succeed?
By Todd Duncan
I have found that most loan originators don’t take action consistently in the areas that produce better results. Success in today’s market is about discipline and disciplines. Knowledge acquisition is the first discipline you should do on a regular basis that will help you succeed in any market.
J. Paul Getty gave some great advice when he said, "To succeed in business, to reach the top, an individual must know all it is possible to know about that business." That’s especially true of the origination business today, given the unprecedented economic times we’re living in.
It is vitally important that you spend at least one hour a day gaining knowledge about everything happening in the markets and in the mortgage industry. Find one or two economists you understand and read them regularly so you gain a consistent impression about what is happening.
In addition, study scripts so you are prepared for any objection that comes your way. If you don’t practice more than you play or, in our industry’s case, if you don’t prepare before you talk to clients, you will look unpracticed, unstudied, and unknowing. That’s not the way to build a successful business.