SPECIAL SECTION: EDUCATION
Six Daily Branch Supports To Succeed in Today’s Market How to use these tools to create educated, happy, originators BY ROBERT TYLER COOK | SPECIAL TO NATIONAL MORTGAGE PROFESSIONAL
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logical pro forma may lay the foundation for a great retail branch business plan, but the numbers alone will not guarantee success. Other issues play a critical role in mortgage company growth. Moving to a new company is not something top originators frequently do. According to the 2019 Originations Consensus Study by Stratmor, the most productive originators (top 20%) stayed at their jobs for an average of 5.3 years. Originators in the top 20 to 40% stayed at their companies for 4.5 years, and originators in the 40 to 60% stayed put for 3.2 years. As the data show, originators who generate the most revenue for a company are likely to stick with their company longer. It would be safe to say that they are given privileges and support, which helps them decide to stay.
the entire relationship with your company. It is essential to have the offer, application, background and other processes laid out in an understandable format. The more of those tasks a company does for you, the more you can focus on the ongoing operations with your team. At a minimum, companies should have a department that coordinates onboarding and a dedicated person to support new branches. Good onboarding teams set expectations early on and make sure key management leaders stay in the loop. They discuss issues proactively to make sure the onboarding candidates do not feel any pain. Recruits should be seen as family members you want to impress and keep happy. That process does not stop once they join the company. With the right mindset and support, a company can have confidence that new employees will become seasoned
Too many managers forget about new employees as soon as the branch opens. During my decades in the business, I have learned exactly which supports you need – in addition to a great pro forma – to achieve extraordinary results in today’s competitive mortgage market. Finding a company that delivers on all six items on the list below will give you the backing required to bring your business vision to life.
1. ONBOARDING SUPPORT Proper onboarding of the branch and infill hires set the tone for
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originators who attract more people to the company.
2. TRAINING SUPPORT After the initial onboarding activities are completed and you have your direct deposit set up, branch personnel need training. I believe that in-person training is the best when it is safe to travel. If you think that this costs money, I agree. A company that views a branch as a long-term investment will acknowledge that in-person
| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE
Robert Tyler Cook is senior vice president and Western division manager for Planet Home Lending.
training is best. You can board employees with consistency and quality. You can make sure their technology works and minimize distractions. Most importantly, you can buy your new partners dinner after a hard day of work. In this extraordinary time, we created a comprehensive virtual training process. Instead of flying each new sales employee to our corporate training facility, we utilize video conferencing. We now spread out the curriculum that was three days of in-person training on our company and our systems across five days of virtual learning. It lays a good foundation for our field managers to build on as they continue to support their new branch employees.
3. SALES LEADERSHIP SUPPORT Recruits will know if they have their manager’s support in just a few weeks. Before you started at the company, you were a potential customer. Now, you are an actual customer and you should get the same amount of, if not more, attention.
