There's a big difference between doing your job and doing your job well.
Are you really doing your job well?
For those of you that know me, you know I follow the NFL (GO STEELERS). One of the most successful franchises in recent years has been the New England Patriots, led by Coach Bill Belichick. Yes, I know a lot of you really do not like this team or Coach, however, success is success, and that is what we are all striving to accomplish.
Pittsburgh Steelers Helmet
At each New England game you can see Bill going to each of his players telling them to “Do Their Job”. Its pretty obvious why and what the results are, so it makes sense if we can simply do our job better, then success, client & customer satisfaction, Employer satisfaction, and a feeling of accomplishment and pride should follow.
Whether we are Brokers, Lenders, Commission based, or paid a salary we owe it to the people who pay us to do our job to the best of our ability. There’s a big difference between just doing your job and doing your job well.
The first step in this concept is to fully define and understand what your job is, and then to identify the specific tasks and actions that are required to get that job done (a good idea to put this to pen and paper).
As an example, we know the job of a Mortgage Broker is to find and place Mortgages for their clients (if it was only that simple). The specific sub-tasks involved in completing this job are many, starting with understanding your Clients needs, then the daunting task of knowing your Lenders and their many products which best suit your clients situation, then submitting a complete application and document package which meet your chosen Lenders requirements, regular communication with your Client, and all usually with some sort of time deadline.
Some ideas for completing these sub-tasks would be:
Whenever possible meet with your clients in person, either at their home or at your office.
Ask questions, and take notes that you can refer to later
Make a point of once a week or every two weeks to go to a lender’s office and learn their products and lending guidelines. Include A, Alt-A, and Private Lenders.
Get to know each lender’s application and supporting document requirements. This is the one single step that can help expedite your funding request and get you a quick answer that can be communicated back to your client.
Keep your client updated regularly, even with bad news.
Get to know your lender’s BDMs and wherever possible their Underwriting team.
As Lenders, which I am, our job is to fund mortgages (if it was only that simple). The tasks in successfully completing this job are many, but again it comes down to understanding the role of the Broker and the needs of the Borrower, knowing each and every product and solution that can be offered to meet those needs, and at the same time also understanding the policies and guidelines of the Company and its Shareholders and Investors.
Some ideas for completing these sub-tasks would be:
Reviewing each application as soon as possible, and acknowledge receipt to the referring source
Making sure you understand the funding request, and if necessary forward any clarifying questions as quickly as possible. There is nothing wrong with a phone call instead of an email.
Communication with the referring source is critical – good or bad.
Think of Solutions, even if it means recommending a competitor – Your referring source will not forget this kind deed.
Know your Companies Products, Lending guidelines, and the Policies and Procedures Manual
Build strong relationships and Trust by doing what you said you would do when you said you would do it.
Although the above is a general and certainly not an exhaustive road map for Brokers and Lenders, the principle is the same for any job, anywhere, in any industry.
Define what your job is, identify as many sub-tasks that are necessary to complete that job, then make a plan and commit to doing what it takes to completing each sub-task to the absolute best of your ability, and better than you have in the past.
Beyond this, here are a few additional tips to help us all to do our jobs better:
Always think of better ways you could do your job – take initiative
Be a good team player
Take additional education and training
Don’t be afraid to ask questions, but also don’t be afraid to figure it out yourself
Stay organized, set priorities, and minimize multi-taking
Create a to-do list and stop procrastinating
Put yourself in the shoes of your Clients
Know when to email and know when to phone – you will close more deals
Be honest, your reputation will follow you forever