Transforming the underperformers on your team into successful originators is a multi-step process. As we’ve discussed in the first 3 parts of this series, it begins with setting the minimum standards for production, identifying which loan officers lack the skill as opposed to the will, and helping those ready to reach the next level develop a strategic business plan. All of these factors are incredibly important as you work to elevate your underperformers. However, there is one more factor that will greatly determine their failure or success: the role of accountability.
When people are held accountable to take action on the strategies and daily disciplines they’ve outlined in their business plan, their chance of success skyrockets. There are three option for how to implement this accountability: self-accountability, manager accountability, or third-party accountability. Some loan officers are motivated enough to hold themselves to a high standard and put into practice the disciplines they need to succeed. However, they are much more likely to get distracted when someone else isn’t helping to keep them responsible. Most mortgage professionals need someone else to check in daily or weekly and make sure they are spending their time on the right priorities. Managers can fill this role, though this can also be a challenge when they are still producing their own business. The third option is outsourcing it to a third party (like XINNIX) who will hold LO’s accountable while training them in best practices to grow production. No matter how you choose to deliver it, accountability is vital if you want to elevate your underperformers to the next level of success!
