What makes me a loan officer more success in the mortgage industry?

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new to the mortgage industry Im, and try to get out of my shell and be more successful, What makes me a loan officer more success in the mortgage industry?

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  1. Reply
    April 29, 2011 at 10:19 pm

    In order to be successful in this profession you must have an excellent marketing plan. You need a steady stream of clients that are seeking your services.

    There are several ways you can accomplish that. You need to select the one that suit you best.

    #1 You can purchase mortgage leads. Cost anywhere from $ 15.00 to $ 35 or more

    #2 You can figure out a way to get referrals from others both in this profession or from another profession.

    #3 You can do a farming and work a certain area.

    Find you an area that have a minimum of 5000 houses or more.

    Make yourself a flyer that indicate you do home loans the type of loans you are able to do. You might also add a little info about
    yourself (Bio) you will need your telephone number and possibly an address as well as you company name. You can get them ran off at staples or office depot or any place that copy items.

    You may get someone to put the flyers on the doors in the area you have selected or you may walk the area yourself and meet some of the nieighboors as you do so. Put these flyers out for anywhere from 1-4 months.

    You should also go to the local merchants located in your area, see if they will allow you to place a holder and your flyer in their business. Leave as many as you can and get as many business as you can that will allow you to put flyers in their business. Check on these each month so you can get a good repore with the business owner.

    After you have put your flyers out for as many months as you desire, contact your title rep and get the names of the people living in your area. Make yourself a newsletter to mail to your area as well as any and all of your past clients. You should do this once a month.

    Check with the business owners that allowed you to put flyers in their business and see if they want to take out an ad in your newsletter. You can charge them based on the size of the ad they want to place. You should have them take out a 3 month ad.

    You should also find yourself a doctor, CPA, Lawyer or other professional that will want to add a column to your newsletter. They should be able to pay you for the column they are making again pay for a three month period. Get as many of the businesses that want to advertise in your newsletter as you can, it will save you lots of money.

    You have to establish a professional team to help you in your business. Listed are a few you might consider but you may chose others if you so desire. An attorney, a CPA, insurance broker/agent, notary, title rep, escrow officer, and anyone else that you might want to add or take away. You should take some of their business cards, and pass them out to clients you come across that need their service. They should pass out your business cards out to those that need your business

    FSBO, when you find a FSBO in your neighborhood, check and see if you can assist them in selling their home. You are not there to get a listing for you real estate buddy but there to assist the owner to sell their house. You have the ability to put them in contact with a escrow closing agent, insurance for the new buyer.

    You should offer to hold open house. This way you will be able to qualify all those that are looking for homes to buy but are not pre-approved. You should get about 2-3 loan applications that way per open house you hold for the FSBO.

    Once you have pre-approved a client make sure you refer them to your real estate agent so they can find a home for them. The real estate agent should refer clients to you also. If they tell you they are required to go through their own loan officer find yourslef a new real estate agent to work with. If the agent can’t help you then you can not help him.

    Your professional team is there to assist you as you them. Anyone failing to assist you or give you a referral in three months find someone to replace them. It might take awhile to put you a good team together but be patient and do it right. You professional team should be giving you at least one referral every three months or less

    This marketing technique should and will keep you full of clients, even if you move to another mortgage company. You will be getting business from outside your area also as you will be getting referrals from others that you have helped.

    Some agencies don’t allow you to reward those that give you referrals, and I don’t from my professional team, but for others I normally get a gift certificate or other form to say I appreciate you helping me

    I hope this has been of some use to you, good luck.

    “FIGHT ON”

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