7 Keys To Managing An Effective Database

In his latest video, Tim Braheem sits down with the owner of NJ Lenders Corporation, Steve Grossman, to talk about his keys to success. Grossman has been in the business for 26 years, and he still continues to be one of the top producers at his company. Drawing upon his decades of experience and expertise, Grossman ultimately attributes his success to these 7 tips:

1. Remember facts about your clients.

Grossman emphasizes the importance of remembering details about your past referrals and clients when you want to form strong relationships with them. If you can recall where one of your contacts went to college, for instance, you can bring it up in conversation and make them feel as if you truly care about their needs.

This is also a useful tip for connecting with your current leads. While your main priority should be to quickly understand their needs, you should also memorize a few facts about them to make the entire loan process feel less like a transaction and more like a relationship. Your genuine thoughtfulness will increase the chances of these people referring others to you as well!

2. Upgrade to a CRM system.

Grossman recalls feeling surprised at the number of loan officers who continue to keep track of their clients and leads with a pen and notepad instead of using a CRM system. He said that CRM will boost your productivity, and it also eliminates the chances of you losing or misplacing all your valuable information. 

3. Look at CRM everyday.

Grossman recommends that other loan officers should follow his lead by checking their CRM systems first thing every morning. After all, using CRM software is useless if you don’t stay updated! Tim adds another point here, stating that “Your CRM will help you stay connected with leads.” You can keep notes on people, when you last spoke to someone, and what you spoke to them about, making it easier than ever to stay on top of leads.

4. Send small gifts to clients.

While this isn’t necessarily related to managing your database, it can definitely help you gain referrals from past clients and keep in touch with agents. Grossman recommends sending a small gift prior to closing, such as a tape gun, to help them remember you as they’re moving. Once the deal is closed, Grossman also likes to send a useful gift that he knows the person will appreciate, such as kitchen utensils, a beach blanket, or an umbrella.

If you want to maintain referral partners, you can be sure that you’ll be on their radar if you send thoughtful gifts to them as well. For example, Grossman once sent out over 200 ice scrapers to referral partners because he knew that winter was coming and the gift would come in handy to them. Whenever they use the item, they’ll remember you and your business, too!

5. Surround yourself with smart and motivated people.

You want to constantly learn and grow as a person in order to maintain a successful career in the mortgage business. It’s important to not become complacent with where you currently are; instead, you should challenge yourself by surrounding yourself with people who are smarter and more successful than you are. Even Grossman, despite his long-term success in the industry, still found the Leadership 360 program incredibly valuable, and he gained new insights from other members of the group. No matter where you currently are in your career, you should strive to build a network of people you can learn from.

6. Identify and commit to your goals.

This step requires both time-management skills and a certain level of self-awareness. Grossman discusses the annual “New Year’s Resolutions” that people enthusiastically begin on January 1, only to give up before February. He says that mortgage loan officers need to be honest with themselves when setting goals and take care to hold themselves accountable for these milestones.

In addition to prioritizing your tasks, it can be helpful to identify any weaknesses you have and hire people who can help out in these areas. That way, you can focus more on making sales and connecting with leads!

7. Use time-management strategies.

Grossman personally recommends a strategy that was shown to him by Tim Braheem. Inspired by David Allen’s Getting Things Done (GTD) method, Tim suggests that loan officers do a “mind sweep” to de-clutter their minds and become focused on the present.

Doing a daily mind sweep requires just a few easy steps, yet it can still dramatically improve your productivity. All you need to do is jot down everything that’s currently taking up space in your mind, both big and small. Once you feel clear-headed and all of your thoughts are on paper, you can begin to delegate, complete, or defer tasks based on your priorities and goals. And if you’d like to do a guided mind sweep, you can check out David Allen’s podcast here!