To be the best in the mortgage industry, what are the top-producing loan officers doing? Taken from the mouths of the experts, here are 6 insider tips that top Mortgage Loan producers are using to pave their way to success.
There is an infinite number of mortgage loan officers competing for the business of homebuyers at any time. Using the proper mortgage sales techniques will not lose potential or existing clients to your competition.
Here are 6 tips that top mortgage loan producers swear by for closing, refinance leads, and more.
Customer Service of the Highest Caliber
Since there are so many Loan Officers in the mortgage industry, one bad experience with a client can have an equal impact as one positive experience with a client. There is a common practice these days in which consumers read reviews about a business before deciding, whether it’s finding a Loan Officer or choosing a restaurant.
Describe a recent customer service experience you had that was truly exceptional. In what ways did it stand out? How friendly, helpful, and engaged was the person you interacted with?
Think back to the last time you experienced lousy customer service. This situation probably pops into your head much faster.
The problem with customer communication is that it’s a double-edged sword. There is a high likelihood that you will remember the terrible experience because it was truly awful.
Work on Providing The Best Customer Service
It isn’t just about closing more loans or getting more referrals when it comes to customer service. It should encompass much more than that. It is not just about making money that keeps you in this line of work.
The foundation of excellent client relationships is consistent communication. Your borrowers (past, present, and future) should be treated like your closest friends. You should strive for transparency and helpfulness, offer value, and be generous with appreciation.
Insider Tips; Relationships Are Key To Success
Top-producing loan officers have access to some of the best resources through their real estate agents. Loan officers need to build long-term relationships with referral partners to increase volume. Real estate deals and success are more likely to happen when mortgage loan producers and real estate agents have good relationships.
How does working with real estate agents benefit loan officers?
An agent may sometimes come across a cash buyer interested in buying a property. For the most part, buyers are forced to use home loans to purchase a home. A home buyer typically looks to their real estate agent for a recommendation of a lender since home loans are so standard. The relationship between the realtor and the buyer is therefore essential to the success of the home purchase.
An excellent relationship with a real estate agent is one of the most valuable resources a Loan Officer can have. Loan officers need to build long-term relationships with referral partners to maintain their volume. Both parties will be more successful as a result.
Take Advantage Of Digital Tools
Since the technological landscape is ever-changing, utilizing digital tools and marketing techniques is even more vital to fostering referral relationships and improving efficiency. It is essential for the top-performing mortgage loan producers to maintain systems and disciplines.
The team behind MERGE Media has 50+ years of combined experience in mortgage loan officers and digital media buyers. With decades of experience building high-end Facebook, LinkedIn, YouTube, and Pay Per Click campaigns we have leading experts in our digital team recognized by Google and Facebook.
We will develop campaigns tailored to your geographic area to reach prospective borrowers that meet your qualification criteria if you are a Mortgage Loan Officer or Broker. The process allows our in-house agents to confirm appointments from a pool of highly qualified potential borrowers and assures monthly deal closures.
Learn How to Engage With Others On Social Media
You should keep in mind that social media platforms have their own purposes. After you understand the four giant social networks (Facebook, Twitter, Instagram, LinkedIn), it’s time to experiment. Pick one or two platforms to start off with and post content that your followers will find valuable. It is important for you to only use 20% of your content for promotion and to use 80% of your content for education or industry-related topics.
You might consider expanding your social media plan to include another platform or two as you become aware of what your audience is regularly engaging with. Remember to have fun with it along the way! Social media is all about organic connections with people who would most benefit from your services, it makes sense that it focuses on organic connections.
Challenge Yourself & Learn
It is impossible to be in more than one place at once until we are able to clone ourselves. You have a lot of daily tasks to perform, clients to meet with, and new business to bring in, how do you make it work?
One of the major tools you’ll need is delegation to your team. Moreover, automating workflows and processes with tools such as a CRM will reduce your workload. Determine what the majority of your time is spent on and devise a method to automate it. This applies to social media, lead generation, and a variety of tasks.
Is it proving difficult for you to implement new ideas? One idea at a time is a good place to start. Establish a process and test it with your team to determine if it is effective. Chances are, you will discover ways to improve the system and continue to grow.
We are constantly learning and implementing new ideas and techniques despite the challenges we all face in our roles. Don’t become discouraged by the many tools and systems available. Consequently, you should do your research first, and then try them out.
Connect With Like-Minded People
Learning from other mortgage loan producers, and strengthening relationships in the industry, will lead to long-term success.
You can network with other top producers on social media channels like Facebook and LinkedIn. Keep an open mind and see what relationships can grow.
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