The Triangle of Success: Value

November 2004

What are the three primary ingredients to success for loan officers? After 21 years of managing and training over 150,000 loan officers and 90 mortgage companies, I have determined that there are three primary requirements that make up success.

Named the “Triangle of Success,” they are: Value, Relationship and Differentiation. In this segment, I will cover the first of these—Value.

How do you define value in the mortgage business?  Let’s begin by defining our product.  So, what is our product? The three most common answers to that question are: mortgages, loans, and solutions.

Although these are parts of our product, they do not really define our product.  Our product is simply money! You see, we turn equity into cash. In other words, we sell money.  In fact, if we are doing our job right in a refinance transaction, we practically give it away. That’s right, we practically give it away.