Bad Sales Habits (and how to break them)

Many of us don’t give much thought to our habits, they are actions and tendencies that are almost automatic. In the case of productive, positive habits, this isn’t a problem at all, but when we automatically engage in bad habits though, it can have a significant negative impact both professionally and personally. You may be putting in extra hours lately to build your mortgage business and not seeing any results, or maybe your sales pipeline isn’t flowing as smoothly as you want it to. Whatever the case, if you want to give your sales success a boost, identifying and then changing bad habits is terrific starting point. Here are some common bad sales habits, along with some ideas for breaking them:

Do You Ever Neglect Prospecting?

This almost never happens when business is slow, but instead, it frequently happens when business is going well. The problem is, and we often don’t consider it at the time, neglecting prospecting during the good times usually shortens the lifespan of those good times. For example, let’s say you have a dozen clients all at different stages of the lending process, and your schedule is filled up with meetings, calls, paperwork, etc. Your days are full, but you’re feeling good about business. And here’s where the problem begins — nobody consciously decides to neglect prospecting, but when we’re so busy focusing further down the pipeline, it’s easier for prospecting to get pushed down to the bottom of our long to-do lists. We think that business is growing, but because we’ve overlooked filling beginning of the pipeline, the stream of business eventually dries up. It’s not difficult to prevent this though, you just need to make prospecting a constant — through bad times and good. Block off time in your schedule regularly dedicated to prospecting, then stick to it no matter how busy you get.

Do You Ever Abandon Follow-Ups?

If you find yourself putting in more time prospecting, but you’re not seeing any measurable results, take a look at your follow-up strategy. I see just about every loan officer follow-up once or twice, but that’s often not enough to convert a prospect into a client. If you give up after one or two outreach attempts, you may be leaving a fair amount of business on the table. There’s no point in focusing on bringing in new prospects if you don’t have a strategy in place to maximize each and every one. Staying persistent in your follow-up efforts will ensure a steady stream of clients flowing in. Develop a plan for following up, then stick to it with every prospect.

Do You Talk More Than You Listen?

The best loan officers aren’t primarily motivated by how much money they can make, but how they can best help their clients. This group is committed to educating their clients, explaining all of their options, and helping them find the mortgage that’s right for their unique situation. And all of that is important, but if it’s not balanced by strong active listening, those efforts become less effective. When you spend more time talking than listening, you might not get all the information you need from your prospects, and it may take longer to develop a rapport and trust, which can result in them not feeling entirely comfortable asking questions. Pay attention to your behavior with prospects and clients, and if you find that you talk considerably more than you listen, shift the balance. Ask more questions, take notes, allow space in your conversations for the other party to process what you’re saying and formulate any questions they may have.

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We need to be aware of our sales habits, and if we uncover any that are harming our growth and efficacy, we need to make the necessary adjustments. However small these bad habits may seem; they can have a large impact over time.

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If you’re a loan officer, sales manager, or branch manager, and you’re considering new opportunities, don’t hesitate to reach out. I’d love to tell you about all the great things Allied Mortgage Group has to offer.