#5 – Planning: Lender Theme Days – Who You Should Call Each Day of the Week. Prospecting is not a feeling, it’s a science and a tactical action. The most successful mortgage loan officers are those who love the weekly grind of doing the hard consistent building and cultivating that’s necessary to grow their business.
Financial planners, by enlarge, look for $100 million in managed funds, which creates a solid annuity. In the mortgage business, the average family will cycle about once every seven years. So in order to build a sustainable business, loan officers need to be continually prospecting and seeking new business.
In this episode Steve Kyles shares his theme days for success, including the Monday 40 realtor calls, Tuesday’s status calls with buyers, buyers agents and sellers, and more. These theme days will help you continue to grow your business in some areas while others may be entering a slow season.
Episode #4 – Scripts: How to Increase Established Client Referrals. One of the biggest missed opportunities for increased business for loan officers is from clients that they already have. In this episode Steve Kyles talks about the importance of setting expectations up front, promising the client three things and asking for two things in return.
One of the most important promises you need to make, as a loan officer, is to close on time. When you deliver on what you say, then you can ask for something from your client in return.
You must, however, keep regular, consistent weekly updates and communication through the process to make sure that client expectations are being met and if any issues arise, you can catch and address them quickly and avoid any major fallout later in the mortgage process.
Episode #3 – Scripts: Anchor Words For Setting Proper Buyer Expectations. Words paint such a powerful picture and can set the course of a lender client relationship. The guy who mentored me in the business told me that every time he got of off the phone with a client he wanted them to feel like he was sitting on the 50th floor of the Williams Tower.
This episode addresses many challenges lenders face with buyers and agents who don’t understand what words may mean, and really how to coach people through proper anchor words to navigate through the loan process.
Examples include the difference between pre-qualified and pre-approved, putting buyers at a competitive advantage in the eyes of a seller, and a lender’s failure to perform can cost a buyer thousands of dollars.
Episode #2 – Prospecting: How to Double Your Results. Many people think that growing a business is magic, but the truth is that growing a successful business is all about a formula of discipline and hard work. A coach friend of mine says that success doesn’t look sexy.
Success is about doing consistent things that you know work and make you successful. In this episode we will talk about, as a loan officer, it is your job to prospect, lead your team and count the money. Your number one priority is to prospect.
You have to constantly be generating new leads, and be intentional with your day and with your week to fill it with prospecting time. Additionally we will discuss how to be intentional about following through with your promise and then asking for a referral.
Episode #104 – In this episode of the Loan Officer Leadership Podcast:
Steve Kyles shares a conversation with Tammy Saul, a mortgage veteran, recognized as a top producer since 2016 and in 2019 she was ranked #1 in Baltimore, #2 in Maryland, and #80 nationally as a mortgage professional.
This conversation discusses how to develop yourself as a leader, opportunities for success in 2021, and strategies that Tammy is using to grow her business.
Episode #6 – Planning: Building, Resetting and Reviewing Your Goals – with Josh Sigman. Many loan officers and their teams blame their poor execution and performance on the environment – how well rates are, how much inventory there is in their market, among others.
In this episode, Josh Sigman and Steve Kyles talk about how success isn’t blaming the environment but better matching your plan to the environment. Maybe you’re focusing on rates in a low inventory market, when you should be focused on your builder relationships, because they’re the ones doing so well.
Secondly, how well are you executing your plan? Are you doing the things you know you need to do, like following up with customers after closing or calling new leads? Managing your goals is a vital piece to a loan officer’s ongoing success in any market and in any environment.