Reverse

Last Word: The Lessons I’ve Learned

Written by Susana Rhoades, as originally published in The Reverse Review.

I have been in this business for more than 25 years, but even with decades of experience, I still find that there are lessons to be learned.

Early in my career, I was a co-owner and broker of a mortgage company. My partners and I worked hard to provide a high level of service to our customers and Realtor partners. In the 15 years we were open, I learned a lot about what it took to keep our doors open and came to see firsthand how we where improving people’s lives. My partners and I did well, but we weren’t exposed to thoughts and ideas other than our own. I took a leap of faith and moved into the wholesale side of the industry.

So began a decade-long chapter in my career as an account executive. I worked for a few very large wholesale lenders. As an account executive, I was afforded the unique opportunity to see how many mortgage originators ran their businesses. I saw that some very smart and talented people consistently survived and thrived while equally smart and talented originators never stopped struggling, despite the fact that they were selling the same product. These are my takeaways:

The ability to adapt quickly is key.

I worked through some of the most volatile times in our market. Consistently, I saw top performers quickly change course to take advantage of a positive change or lessen the impact and damage of the negative currents coming their way. The people who struggled the most tied themselves up in a micromanaging knot, over-evaluated and failed to seize an opportunity, or just couldn’t get past a bump in the road. Top performers took the necessary time to look up, evaluate and quickly adjust their trajectory.

Exposure to new ideas is necessary.

The biggest mistake many owners and originators make is not taking time to learn about new ideas that could help improve the way they do their job. No one can possibly know all there is to know about their business, and it is easy to get caught up in day-to-day concerns and feel that it is impossible to step back for a moment. The best performers place high value on exposure to new ideas and meeting others who are excelling in their field. The one nugget of information you take away from a seminar or connection made at an event could be the turning point between getting the same old results and soaring to new heights. Change will not find you tethered to your desk.

Know what feeds your passion and devote your time to it.

What if you could free up two or three hours every day and use that time to connect with your clients, learn more about your business and build deeper relationships with your referral partners? What would your business look like? Would you find your job more rewarding? Would your deepened relationships produce a higher quality and volume of referral business? I, like many reverse mortgage originators, feel my job is also a calling. Let your team members have a chance to step up and take over the tasks that pull you away from your true calling. Mastering delegation and taming the urge to be involved in every aspect of your business is the only way to grow, and it gives others the chance to shine.

“Whether you think you can or you think you can’t, you’re right.” –Henry Ford

In the average day as an account executive, I would visit anywhere from three to five accounts. Some were thriving and bustling with energy. Others were worried about making next month’s payroll. Yet they all sold basically the same product and faced the same challenges. What was so different? It came down to this basic principle: The successful believed they would persevere. Often, the people who thrive share the characteristic belief that will find a way to overcome every obstacle. Because they were looking for a solution, they found one.

I still enjoy this industry, but know it can be tough to bring your best to the table every day. By taking the time to assess your attitude, your business and the passion that drives you, it’s possible to deliver better service to your clients and keep the spark that will not only help you survive, but thrive.

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