You know the type: The originator who wakes up each morning with absolutely no idea what he's going to do for the day or from where his next loan will come. The originator starts the morning daydreaming about what’s to come over the weekend, or what could happen if he or she were to suddenly have a booming pipeline of business.
I call this breed of originators the "accidental originators." They meander through their careers and
Conversely, deliberate originators have written goals, a plan, a specified list of referral sources and potential referral sources with which to start working. Deliberate originators have daily, weekly and monthly goals, as well as an annual plan to attain goals. Deliberate originators measure their activities against their goals; they know just where their progress stands against these goals. They have discipline and a regimented method of communication with borrowers, referral sources, prospective referral sources and their internal operations team. As they start each day, deliberate originators review their near- and long-term agendas with specific goals in mind—not with hazy weekend plans and wayward business notions like those of the accidental originators.
Realtors know the difference between the accidental and deliberate originator. And they will choose to work with the originator who maintains a professional relationship with them, defined by consistency, communication, accuracy and timeliness. Real estate professionals reject working with accidental originators in the same way that high-end restaurants reject unkempt patrons presenting themselves without shirt or shoes.
While deliberate originators are not avoiding the low-hanging fruit of the refinance wave, that’s not their sole focus. Instead, they are systematically growing market share by nurturing their relationships with Realtors and other referral sources. By doing so, the deliberate originators will increase their purchase volume, and in a very Darwinian manner, watch the less fit accidental originators become extinct as rates rise.
If you're an accidental originator, it's not too late to change your direction and work habits. Start each day by sitting down and having an honest conversation with yourself—with pen or mouse in hand. Write down or type out your ideas. Be clear about what you want to do. Create a specific plan, hold yourself accountable and deliberately create your success.
Vow to start tomorrow with a purpose and plan. With focused goals and plans, you’ll soon find yourself thriving as a deliberate originator.
