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Why Your Mortgage Business is Stuck on a Plateau

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While just about any loan officer will tell you that their mortgage business has its ups and downs, we still want to see an upward trend in our business overall. Sometimes though, it can start to feel like we’ve been in the same place for years. Our client load is always about the same, we’re hitting the same sales numbers, and nothing really changes. If you’re completely content where you are, that’s one thing. But for many, it can be a frustrating position to wonder what they need to do to move beyond that plateau. Today, I wanted to look at a few reasons why some loan officers might get stuck so they can better break through:

You’ve Lost Motivation

This happens to many of us from time to time. Maybe it’s that 2020 has felt more like the twilight zone than reality. Maybe we’re dealing with more stress in our personal lives. Perhaps we’re feeling bored at work and craving more challenge. If you know you’re lacking in motivation, even recognizing that is a step forward. From there, it’s time to investigate and try to pinpoint some specific causes. That way, you can start addressing them directly and get your motivation back on track.

You’re Off Your Routine

I’m a firm believer in the power of habits and routines. Often, these are small actions, but their cumulative effects are substantial. Maybe you don’t realize that you’ve stopped making time for that morning run, that podcast before work, or those weekly networking meetings. But what you are likely to realize several weeks or months down the line is the toll that’s taken on your business. So, simply check in. Are there habits you know support your business that you need to reinstate? Or maybe there are new habits you need to incorporate? Whatever the case, ensuring that your routine is supporting your success is key.

You Haven’t Tried Anything New

If you can’t remember the last time you tried something new in your business, then now is the time. It could be a small tweak to your schedule or an overhaul of your marketing plan. It’s not so much about what you change as it is about staying curious and engaged. The industry is changing all the time. If we just keep doing the same thing, it’s logical that we’re going to get left behind. I’m not suggesting you jump on every latest trend. Instead, invest in the things that interest you and excite you. Read some interesting books, tune in to a new podcast, connect with some other professionals who are growing their businesses. Getting in the mindset of trying something new can help you break free from a rut.

You Don’t Know What You’re Aiming For

Finally, if you don’t know what you’re aiming for, how can you expect to get any closer? As loan officers, we need to continue to revisit and redefine our goals. We need to get specific about what we want to achieve, identify the steps to get there, and implement that plan. Giving yourself a target and actionable things you can do to move closer is like giving yourself a ladder to a new level of success.

What are your thoughts? Does it ever feel like your business is stuck on a plateau? Do you have any strategies of your own that you use to help you continue growing? If you’d like to talk about why some professionals get stuck here and what they can do, don’t hesitate to reach out. I’d be happy to set up a time to connect.

Don Riggs

VP – Retail Market Leader

NMLS 132702

303.249.8274

Don.riggs@cardinalfinancial.com