Hey what’s going on it’s Nick Carpenter and one of the questions I see a lot from people that are thinking about getting in the mortgage industry is how do you become a successful loan officer? I want to show you a quick five step process on how you can have success in the mortgage industry.
Step 1 – Create a Foundation
What is the foundation within your mortgage business? The foundation is “can you get a loan done”. Do you have the type of products that people need to buy a house? Do you have the support to close loans on time? The foundation is your back office.
It’s the behind the scenes processing and underwriting and everything that goes into getting an actual loan done. You have to have that foundation before anything else matters. If you can’t get a loan done or you don’t have the kind of products people need, or you can’t get people approved, nothing else is going to matter.
So step one is make sure that you’re putting yourself in with a company that has that great foundation like Ticket Mortgage to build your business from.
Step 2 – Communication
Communication is critical in the mortgage business because there are so many moving pieces and you’re really the hub of the information as the mortgage advisor.
If you want to be successful as a loan officer, you need to make sure that your communication is on point. Make sure that you have those different times during the loan process that you’re touching and you’re reaching out to the people letting them know what’s going on. That includes the client, their real estate agent and the title company so everybody knows what’s going on.
Make sure you include them. There’s some easy ways to do communication. There’s obviously some CRMs out there that can help automate some of this like KLTCRM.com. You could also create a video follow-up process that goes out to people during the loan so each time you hit a milestone in the loan, you can send them a video that tells them where they’re at.
Step one, get that foundation in place. Step two, get your communication down. Once you have those two pieces in place, you’re really ready to go out and be able to get some clients and some Realtor referral partners that want to work with you.
Step 3 – Learn Something New
First, you have to learn some new marketing strategies. This could be around Facebook ads, directory sites, getting reviews online, video marketing, blogging, SEO, converting more sales, sales scripts, database marketing, or area farming.
You have to learn about some new marketing or have some new arrows in your quiver. That’s like tools that other loan officers aren’t providing. So you don’t have to go learn about ALL of those things, but you can learn about one of them and use that as a base for growing your business.
So let’s say, for example, you decide to make Facebook ads your thing.
You would learn Facebook ads. Learn them well enough so that you can do them in your own business.
Step 4 – Do The Thing You Learned
Next, you have to put into practice whatever you learned in step 3. You need some success. A story. Something you can share with Realtors to show them you are good with ads.
Even when you generate your very first lead on Facebook. That’s awesome! You should be sharing that success with everybody, right? Share it with all the Realtors you work with and be really excited about it. Because a lot of Realtors and loan officers don’t know how to generate leads with Facebook ads.
So once you’ve done something and learned a new marketing technique and you’ve implemented that into your business and seen some success from it. It’s time to move to step 5…
Step 5 – Teach The Thing To Realtors
Step five, which is the final step where you’re going to really lock in the relationships, is to go and teach that thing to Realtors you want to work with. This is how you are going to separate yourself from all the Monday cold calling guys asking for an appointment.
That old tired script of ‘just try me one time…I have a great service…I have great rates’ is gone. Now you can go to a Realtor and say, “Hey, listen, I took time and I learned how to run Facebook ads. I tried it for myself and I was able to generate a couple of leads. Is that something you’d want to learn how to do also?”
Position yourself not only as a Loan Officer but as a business partner. You care about their success.
This process will create more long term relationships and loyalty from Realtors because you’re actively helping them to grow their business.
If you need more tips like this, you want to connect and see what we’re doing. Make sure that you subscribe to my YouTube channel for more ideas on how to be a successful loan officer. We’re putting on a lot of awesome videos and also you can also apply to join The Legion at https://legionofloanofficers.com/apply.