Faculty Friday – Season the Secret Sauce of Origination Success
Written by Dave King, Vantage Production Faculty Member and Managing Loan Officer, SWBC Mortgage, NMLS#: 257324 on December 1, 2017 at 4:28 PM
My wife and I went to an incredible restaurant here in Colorado, and one of the first things you see at this restaurant is they’re selling a cookbook of all their delicious, exotic dishes, sauces and things. We thought, “Wow! That’s crazy to sell their secret recipes!” We also thought it was cool, so we bought one to take home, crack open and maybe make the game sauce they put on any sort of game when you’re there, like venison, elk, pheasant or whatever.
When you get to the secret sauce recipe, you realize there are a lot of interesting ingredients in that sauce. Almost half of those ingredients you can find in an average grocery store. On top of that, there a few other unique ingredients as well as other sauces, one of which takes two weeks to make.
So, even though this secret sauce was no longer secret, it was complicated and takes a commitment to create.
The secret sauce of origination successes is also complicated. We’re not making tartar sauce with mayonnaise and relish. The secret sauce takes time and commitment.
The secret sauce of origination success is knowledge.
Knowledge really sets you apart, drives your business and makes you a better originator. Knowledge shows through when you talk to people, so it’s just incumbent to continually learn about our industry. Read your program guidelines. Read your FHA guides and your EPA manual.
Many of us are getting shopped against big companies, and I can’t tell you how many times I’ve had people who have talked to them and then talk to me and say, “Wow! You really know what you’re talking about!”
That’s what shines through. That’s what gets you referrals. That’s what gets you raving fans and a business stream that can literally last forever.
Season your secret sauce: Continually educate yourself. Be a student and a sponge of the industry, and it’ll show every time you talk to your customers.
To hear the full webinar, including 9 other top producers’ money-making strategies, click here.
Dave King is the sales manager for SWBC Mortgage in Denver, Colorado. He has been originating since 1985 and has been the managing loan officer in his office since 1994, fueling his passion for educating his colleagues.
Dave is also an accomplished author. From 2002-2008, he wrote "Loan Officer Insights," a daily column that was distributed throughout his company and was designed to educate, enlighten, encourage and entertain thousands of fellow employees nationwide.
He has closed over $1 billion in personal production and has been named on the Scotsman Guide's top 200 loan originators and top FHA/VA lenders numerous times. Dave is also a former member of the State of Colorado's Council of Advisors on Consumer Credit and Mortgage Task Force.