Top Producers By the Numbers
August 4, 2016 3:48 PM
Top Producers By the Numbers
What does a Top Producer look like? Like anything else, there is no singular representative. Marketing strategies span everything from billboard ads and television gigs to movie events and bobble-head giveaways. Many focus on one state for business while others cover as much land as possible. One thing that binds them as the most successful in their field: help. From family and friends to outstanding teammates to mentors and coaches, every Top Producer acknowledged they could not have reached the level they have without support. Here, by the numbers, are six characteristics that make up the class of 2016 Top Producers. The data is derived from the 2016 Top Producers nomination survey that each submitted as part of their application to be recognized in the ranking.
Mind the Gap
Much has been made of the average age of loan officers, but just as significant is the gender gap. Women have made significant inroads in the last 40 years, and make up 81 of our Top Producers, or 27%. Women are 20% of the top 10.
Many Thanks
Sales requires a hefty time commitment and loan officers know their chances to achieve the top tiers are much lower without help, regardless of where it comes from. In an open question, over half of Top Producers credit their family for their success, while just over one-third shouted out their teams. Mentoring has made a significant difference to 29 people throughout the ranking, and 15 acknowledge professional coaching as the reason behind their success.
Time Is Money Is Time
Experience isn't everything, but it counts for a lot, especially in the mortgage industry. Nearly 40% of Top Producers are smack in the middle, with 117 of 300 having between 11 and 15 years of experience. Sixty loan officers report having 16 to 20 years in the industry, and 57 have between 21 and 30 years under their belts. Newer loan officers had a good showing: 47 have between five and 10 years of experience.
No Diving
Many loan officers have dipped their toes into the social media pool, but overall show reluctance to jump into the deep end. A handful of companies have presence across the four major platforms, but there is certainly room for more. LinkedIn leads the way, with 141 of 300 loan officers having active profiles. Facebook is close behind at 125, but only 86 originators have made the leap to Twitter. Google+ brings up the rear with 24 active users. Mortgage companies' presence is even sparser: Seven have dedicated Facebook profiles, and five are on Twitter. Four have chosen Google+ and only two have a presence on LinkedIn.
Enjoy the Sunshine
The state with the largest share of the mortgage market, and the highest percentage of Top Producers, is California, accounting for nearly 20% of the ranked 300 at 55. Colorado comes in a long second, with 22, and Maryland is right on its heels, contributing 21 loan officers to the Top Producers rankings. Illinois is home to 38 originators, and Virginia rounds out the top five, with 17.
Balance Is Key
Just under half of the Top Producers originate loans in only one state. A reasonably balanced 187 do business in multiple states, but only 80 spread themselves over five or more states.
