My Best Business Practices

By
Mortgage and Lending with George Souto NMLS #65149 FHA, CHFA, VA Mortgages NMLS #65149

Anna Banana Kruchten, CRS is hosting an ActiveRain Challenge this month titled "ActiveRain August Challenge - BEST-  Business Practices".  In her challenge she challenges us to:

  • To tell of 1 of our BEST business practices from our 1st year in business that actually did produce results and gained you clients and a closed sale(s).
  • To tell who our Most Powerful mentor was (or still is) that you either took a Seminar from or hired as your Coach.
  • To tell about 1 Business Practice that you are Currently Attempting to put into place but haven't quite gotten there yet.

Fulfilling the requirements above for this challenge were not as difficult as I thought they would be at first.  In fact coming up with My Best Business Practices was fairly easy.  The first two requirement are actually combined into one for me, because the first two business practices I adapted when I first went into sales 42 years ago, and still apply today, were the result of advice my first Sales Manager and Mentor in sales gave me. 

  • The first was, "Respect others enough to let them make their own decisions" One of the great faults many people in sales have is thinking they know better than their clients.  They feel their knowledge of the product they are selling somehow entitles them to the freedom of making decisions for those who are spending the money.   Having this attitude leads sales people to thinking they have the right to decide what their clients should or should not purchase.  After all they are the experts on the product and they know best.  This sense of entitlement and attitude ends up restricting their ability to truly provide their clients with the service and representation they deserve. 
  • The second was, "Get out and press the flesh" in other words get out of the office and meet and talk to people, and network.  If you follow my blog at all, you know networking is a big part of what I do, and it all started because of my first Sales Manager and Mentor's advice.

I would HIGHLY advice anyone in a sales related industry to adapt these to practices as soon as possible.  These two practices have little to no cost, but will result, in my opinion, to more sales and life long relationships than any other thing you can do.

Part #3 of Anna's challenge for me is coming up with a better contact management system than the one I have right now. Staying in touch with my Borrowers, and Buyers is a must, as is staying in touch with my Prospects, and Circle of Influence.  I need a system which will allow me to not only stay in touch, but also keep my Borrowers informed of what point their loan is in the loan process from the time the loan is put into processing until it closes.

I have started to investigate some of the better know systems in our industry, but I have not found one yet that interacts with my Loan Origination and Processing System the way I need it to.  So I am wide open to recommendations  from other members, who know of a contact management systems they are using or know of, which will do what I am looking for.

Hope My Best Business Practices, help those who are reading this blog, whether they are new to the business, or old time veterans to increase their business.

 

 

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 Info about the author:

George Souto NMLS# 65149 is a Loan Originator who can assist you with all your #FHA, #CHFA, and #Conventional #mortgage needs in Connecticut. George resides in Middlesex County which includes #Middletown, #Middlefield, #Durham, #Cromwell, #Portland, #Higganum, #Haddam, #East Haddam, #Moodus, #Chester, #Deep River, and #Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi George

I really enjoyed reading what you had to say here. I particularly liked the quote from your mentor to "respect others enough to let them make their own decisions."

Enjoy the rest of your weekend!

Jeff

Aug 13, 2017 03:38 PM #1
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marti garaughty
garaughty.com - Montreal, QC
a highly caffeinated creative type...

marti garaughty, abstract art, graphic design, marketing, WordPress consultant

Aug 13, 2017 05:08 PM #2
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

HI George- I too love what you said...to respect other enough to let them make their own decisions. And I think this is one of the highest forms of respect you can give a person. Well done.

Aug 13, 2017 05:48 PM #3
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517,484
John Mosier
Realty ONE Group Mountain Desert - Prescott, AZ
Prescott's Patriot Agent 928 533-8142

George Souto -- I have been using Follow Up Boss as my CRM for a couple of years now. I believe it will work for you. I like it better than any other CRM I have tried.

Aug 13, 2017 07:33 PM #4
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2,459,187
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

George you have always been on the top of my list for being a stand-up guy, and it shows how you write about your family functions as well as how you go about pressing the flesh, not surprised this was easy for you to write about, Endre

Aug 13, 2017 11:04 PM #5
Rainmaker
3,890,679
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning George.  You started out on a high note and stayed that way throughout a successful career.

Aug 14, 2017 05:36 AM #6
Rainmaker
1,530,080
Lottie Kendall
Today | Sotheby's International Realty - San Carlos, CA
Serving San Mateo County and San Francisco

Hello George - I enjoy time alone in our busy world, but remembering to "get out the press the flesh" is super important. Thanks for sharing some of the important steps in your business journey.

Aug 14, 2017 08:47 AM #7
Rainmaker
35,149
Gary 'Banana' Houghtaling
Phoenix Property Shoppe - Phoenix, AZ
Phoenix Real Estate Agent

Hi George Souto I am learning about contests today and I learn in your post that my wife is the one who hosted it. Won't she be surprised if I enter it.  I appreciate your post. Respect goes a long way and we must always allow our clients to make the decision. Networking never ends and I enjoy that as well. I know Anna isn't all that happy with her current CRM and on the look out for one as well..

Aug 14, 2017 03:58 PM #8
Rainmaker
1,561,744
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

George Souto - You never cease to amaze me. You're a very down-to-earth man and your knowledge in establishing rapport and building relationships is simple and easy. Yet, as you say, many blow it and forget about the purpose of why they are in the business. 

Your answers to these tough questions is not only sincere, they are brilliant too!

Aug 14, 2017 06:14 PM #9
Rainmaker
2,070,540
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Hi George... I really liked this... something most people never really discuss: "Respect others enough to let them make their own decisions".

Aug 15, 2017 07:44 AM #10
Rainmaker
1,349,089
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi George - your number one is the same for me.  As far as contact management systems I have been using Hubspot sales.  But I don't know how that would interface with your systems.

Aug 15, 2017 10:13 AM #11
Rainmaker
1,671,910
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

George Souto you are the epitome of a good mortgage lender and you know how to stay abreast of all happening in the mortgage industry...always to help the consumer!

Aug 17, 2017 05:01 AM #12
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Anna Banana Kruchten CRS,CRB
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

George Souto all 3 are really good points. You know exactly what works for you and work it well.  Good luck on finding the right CRM. That is an important part of our business and picking the best one takes research.

Aug 17, 2017 05:01 PM #13
Rainmaker
275,955
Melissa Jackson
United Country Real Estate FW - Fort Worth, TX
REALTOR® Matching Buyers & Sellers

George Souto thanks for sharing your experience. 

Aug 20, 2017 07:59 PM #14
Rainmaker
106,015
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

Some very good points. I agree with your points and am glad you have had success from them. Thank you for posting!

Sep 13, 2017 07:05 AM #15
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