In ten years of training mortgage professionals, I've found there are basically two types of salespeople: WOWS and SHMUCKS (and the SHMUCKS well outnumber the WOWS)! For all of us, that is actually good news. Why? Because bring a stand-out isn't nearly as hard as we may have thought. You see, there is not much competition out there if we simply focus on becoming a WOW!
In our business, almost regardless of price (rates, points, and fees), WOWS get the sale. When it comes time for repeat business, WOWS get the sale. When it comes to referrals, WOWS get the sale! Why? Because WOWs are DIFFERENT. And because WOWS get the initial sale, the repeat sale and the referral sale, WOWS never worry about their income. In fact, the best thing about being a WOW is that the only work that can describe their income is...WOW!
Now, consider this question. If I surveyed your customers, how many of them would define you as a WOW? If your answer was most or all, then you are either enjoying enormous success or you are in complete denial. If your answer was some, few or none, then read on!
Every salesperson wants to be a WOW; however, few think they have what it takes. And once they determine they do, even fewer do what is necessary to become one. Well, I have great news for you – you already have what it takes to be a WOW, you just haven’t perfected it yet. You see, - “God don’t make no junk!”
After having been blessed to work with literally thousands of WOWS during my twenty year career, I have identified four primary personal and professional traits that lead to their success. In this edition I will cover the personal traits and characteristics that make up the foundation for every WOW (in the next edition I will cover the professional traits).
Trait #1 – Integrity
At the core of every WOW is unwavering integrity. WOWS recognize that integrity and trust are at the core of success. WOWS not only possess these traits, but they constantly guard them. Our integrity is the one thing we control that no one can take from us.
Our integrity determines our reputation; and our reputation determines our success. Most importantly, integrity instantly separates us from other salespeople in our industry. There is an old saying that “people buy form people they like.” I believe that is only half true… “People buy from people they like and trust.”
Trait #2 – Attitude
WOWS are simply great people to be around. They are positive, optimistic and enthusiastic. They love life. They realize that a positive attitude is the most desirable characteristic a person can portray. They know that knowledge and experience mean nothing without a passionate, persuasive and positive attitude. Like you, I’ve seen many knowledgeable and experienced people in our business who consistently fail. Success is not about being smart or experienced. Instead, it’s all about attitude at the end of the day. As Zig Ziglar says, “Your attitude will determine your altitude.”
Trait #3 – Focus
There are two basic approaches to sales in the mortgage business; quality an quantity. WOWS focus on quality, not quantity! This is one of the core philosophies of every WOW I’ve ever met. WOWS know that he quality of the application, relationship and advice they give their customers is far more important to achieving success than the quantity of calls or sales presentations they make. More calls simply do not mean more loans. Better calls mean more loans. You’ve probably heard the expression “selling is a numbers game.” And although that can be true, this approach never leads to long-term success. Why? Because that leads to a quantity approach to selling. A quantity approach to selling creates three detrimental results: (1) increased rejection, (2) high failure, and (3) long hours. Ultimately, these will develop low enthusiasm, poor confidence and burnout. Simply put, throwing loans against the wall to see if they will stick never yields high volume.
Instead, WOWS take a quality approach. They live by the philosophy that a “bird in the hand is better than two in the bush.” They know that simply spending quality time with their clients results in higher conversion rates, more loans closed and less hours worked. Instead of rushing every deal to get to the next one, they take their time with interested and qualified candidates to establish true value, relationship and trust.
Trait #4 – Beliefs
WOWS have a simple belief: “Price doesn’t matter…value does!” They know that price is only what you pay for something, but value is what you get…and it’s never what you pay that matters, but always what you get! With this basic belief system, WOWS simply overcome price concerns and objections by creating value that transcends price. And by truly believing that price doesn’t matter, they possess a confidence and conviction that leads borrowers to their way of thinking.
So do you want to do what everyone else does and get average results or do you want to be different and get stellar results? If you really want to succeed, really stand out, and really separate yourself from your competition, then you have to be different! You’ve got to become a WOW. No basic philosophy is more central to your success.
-Dale Vermillion
Dale Vermillion is a prominent international speaker, consultant and expert to the mortgage industry. He began his career in 1983 as a loan officer and, by age 30, was Executive Director for a national mortgage company of over 1,000 employees with responsibility for all aspects of sales, marketing and operations.
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