Searching for Missed Opportunities

How to take a swing and a miss in 2019 and make it a homerun in 2020

Identify Missed Opportunities from 2019

One of the most important and beneficial things you can do to get ideas on where you can expand next year is to look back and see what opportunities you missed out on last year.  This isn’t about finding 1 loan that you didn’t get and figuring out how you didn’t get it but looking back and seeing if there is a pattern or something you know you should have done and didn’t or something you’ve always done and somehow got away from it.

Go back through your database and check all clients that you had pre-approved but they closed somewhere else.  Check your notes, think back to what happened and if there was anything you could have done to resolve that for all instances.  One off’s will happen but if there is pattern you can fix it.  A great example was in 2017 when I did this I realized that there were about 8 loans that I didn’t close because they were non-traditional or didn’t fit guidelines etc… I found out that they closed with another lender and that’s pretty frustrating.

I went back and found on public records who closed the loan and I have those exact same investors.  I made it a point to learn those products in 2019 I closed 13.1mm on those exact same products that in 2018 I didn’t even pitch to clients.

Look at the new referral partners that you picked up last year, where did they come from?  We all know the various ways we can get new referral partners but if you look back and you didn’t get 1 new referral partner form a normal source there you go.  For example, if you closed 50 loans last year and you picked up 5 new referral partners.  When you look at those 5 partners you added and they all came from going to open houses or introductions from your current partners then you know you missed a ton of opportunities to cross-sell the listing agent on the 50 transactions that you closed.

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