There are a lot of wonderful careers in the financial industry available for those willing to put in the time and effort to make it a success.   Great earning potential, growth in relationships and network, and financial security are just a few of the rewards awaiting those that wish to pursue a career as a mortgage loan officer.   

This career can indeed be quite lucrative and bring much reward and enjoyment....or as with any career or job, the journey could be a difficult grind unfortunately filled with stress, confusion and disappointment.   As mentioned in an article written by David Coulter, "How to Become a Successful Loan Officer With the Right Marketing Tools" the difference in the path one goes through often comes down to the strategy and deliberate "business plan" for success that the loan officer has employed, and then the time, energy and effort needed to make that potentially successful plan a reality.   

We wanted to bring forward several the impact points mentioned in the article as they highlight great foundation for LO success.  Some are best practices...some are common sense.   Most are (regardless of industry you sell or service in) unfortunately forgotten about.  All are valuable!

• Know Your Stuff
  • This may seem obvious.  And no....it is NOT a good strategy to "fake it till you make it".   Think about how you would like to be supported and what you personally might want to enlist an "expert" for?  This is the point.  Your customers are looking for your leadership and "knowledge" of the ever changing and dynamic mortgage industry, rates, and process.   Take time daily to educate, learn and build your knowledge.  Not only will your customers feel secure, be educated through your knowledge of the decisions they make, but ultimately see you as the "go-to" expert going forward not only for themselves, but their many referrals to come!
• Spend a Lot of Time Listening
  • Remember each customer is different.  They each want to feel special and feel that their LO is treating them as if they were the only customer in the world. This all starts with communication.  And communication starts with "listening".   Prepare in advance for the opportunity to listen by preparing questions ahead of time for your customer.   Actively check for understanding of what your customers are saying so that you truly get the full truth of their message, and that they feel they are being heard.  
• Riches in Niches!
  • Often folks try to service and support all potential opportunities. That is normal, especially when you are newer into any sales profession.  But often it pays off to find a "focus".  Whether it be a product, geography or market demographic.   Establishing yourself in that domain as the go-to person...can allow your reputation to not only go wide, but deep as well.  
• Build Your visibility Online and Off
  • It is key to be where your customers are.   In today's day and age that means online.   In fact it is becoming more evident that direct communications are happening more over social media than some traditional methods like email...and unfortunately via a nice direct conversation on phone or in person.  Nonetheless...making your presence known and delivering your guidance and value over all channels that your customers are will have you very visible and keep you top of mind and extremely familiar to them.   
• Educate Your Borrowers
  • You have a wealth of knowledge.  You are the expert in this discipline.  Not only at time of application and closing...but ongoing in the world of homeowner finance.   Share that knowledge continuously.   Educate them so that they become savvy members of the mortgage industry themselves.  They will be much, much better buyers.  By educating your students (your borrowers), and  growing their knowledge in this topic...they in turn will grow your business!
• Get Reviews at Every Opportunity
  • You work hard, you sacrifice for your clients, and you take price in the success and great experiences that you provide to your customers.  Why not ask them to speak about you and their experience in a review?   Most often they will absolutely love to brag about "their LO", how you made a difference in their home buying experience and how they would love to use you again.   Reviews are quickly, if not already, becoming a "digital currency" in todays online world.   Think about how you buy a product or service today....you probably check the reviews of what other buyers thought of the item you want to buy.   This is becoming the decision point for some if they want to pursue even "inquiring" about working with you or not.   So...give them a reason to come work with you. Show them through the eyes and comments of your customers how great you are!
    
    

Above are just a few elements that for sure lay the foundation of a successful loan officer.   To read the full article referenced above click here:  How to Become a Successful Loan Officer With the Right Marketing Tools. 

As mentioned above...may seem small, common sense...and easy.  That is not the point.  It is the "consistent execution" of the above that is a major factor in the success of the plan and success of a mortgage advisor business.   

Stikkum was designed and built to enhance the communication and connection a loan officer has with their customers, marketplace, and referral partners.   We've built tools to help LOs indeed stay visible, valuable, and continuously top of mind.   Visit our website at stikkum.io, to learn more about the solutions helping LOs executing their successful business plan.   Or, reach out to us directly to schedule a time to with one of our associates to personally chat about your business and the success we can build together! 

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