Do You Have a Quality Mentorship Program?

    The purpose of a mentorship program is to facilitate field training for new hires that are not experienced so that they will receive the support they need to transition into productive members of the sales force. Having a mentorship program will also relieve the burden on branch managers who are then freed up to recruit additional producers and provides management field training/experience to senior-level producers.

Estimated reading time: 3 minutes, 15 seconds

Ask The Expert: The Last Six Months Were the Worst of My Career. Any Suggestions?

Carolyn from Boston wrote in: "The past six months have been very tough. I have been in the business for over 20 years and have never struggled so badly from a production standpoint. Many loan officers and real estate agents I know are leaving the business. This is my career—I am not going anywhere. But I am running out of ideas. Do you have anything that would help?" 

HershmanI can’t tell you how many similar questions I have received in the past year. I have been in the industry for 40 years (of course, I started when I was 5 years old!). I have witnessed many, many booms and slumps. The past boom was the mother of all booms and there is no doubt that today’s slump feels like the worst just because we are coming down from the stratosphere.

Ideas? I won’t regale you with lectures about sphere marketing and the other things that will set you up for long-term success. You need something to do tomorrow that could result in making a difference in the weeks ahead. In my book, Maximum Synergy Marketing, I state that most of the opportunities are right under your nose. So, let’s start there with the loan officers and agents that you know who are leaving.

Every person has a sphere. When a loan officer or agent leaves the industry, their sphere goes with them. Why not grab it? I understand that they are not top producers. But if the loan officer has one or two top agents who are loyal, when they leave, there is a relationship up for grabs. Why not grab it?

Continuing our focus upon things you can do immediately, and which are right under your nose, let’s zero in on vendors. In other words, those you purchase from. Vendors can be personal in nature, such as your favorite restaurant. Or, they can be business vendors, such as a printer or advertiser. Regardless of whether they are personal or business vendors, if you are purchasing from them on a regular basis, you are helping them succeed.

My question is, shouldn’t they be helping you succeed? Let’s take the example of your favorite restaurant. LYou likely go there regularly, and you recommend others do the same. Do the owners and staff of the restaurant know you are in the mortgage business and that you would like not only referrals, but also introductions to real estate agents, financial planners or accountants? Not only should you tell them what you do for a living, you should ask for help and tell them how they can help you.

What if every vendor you support on a regular basis was helping you with your business? What kind of difference would that make?

Dave Hershman is Senior VP of Sales of Weichert Financial and the top author in the mortgage industry. Dave has published seven books, as well as hundreds of articles and is the founder of the OriginationPro Marketing System and Mortgage School – the online choice for expert mortgage learning and marketing content. His site is and he can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it..

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