One of the attributes that I see in all top producers is confidence. They excel at what they do, Realtors want them on their team and prospects easily commit to being a client for life. Having confidence is an essential part of succeeding in this industry.
If you do not feel confident in your abilities as a loan originator and if this keeps you from marketing like you should, there are a few simple (but not easy) steps you can take. In a nutshell, if you have more time than applications then spending time in these areas can help your business grow to where you want it to be.
Learn everything you can about your business. Be a sponge soaking up knowledge on loan programs, investor guidelines and what moves interest rates. Block out study time every day until you feel confident with your knowledge base and also have the ability to quickly find an answer to questions. Once you are at this point, it is a matter of maintenance, commit to spending time weekly to keep up on changes and new products.
Look for opportunities to share your knowledge. Offer to do a presentation to Realtors, the chamber of commerce or your local homebuilders association. Create a flyer that highlights loan programs or offers tips on credit scores or other mortgage-related information. When there is a major announcement that effects loans send a quick e-mail to your referral partners. Keep these short and easy to read. These activities will keep you in front of the people that can help your business grow.
People want to work with professionals that are authorities in their field. The time you spend gaining a strong reputation as an expert will be time well spent. Study all you can, even when you are busy so that your business will remain busy.
Learn from others. If you are struggling to get the amount of business you would like, I recommend shadowing a more experienced loan officer as they meet with referral partners and clients. Ask them what contributed to their success, then listen and take notes on the way they interact with referral partners, prospects and clients. Ask them to bcc (which stands for blind copy—your name does not appear) you on their e-mail correspondence for a short time so you can get a feel for their communication style.
If you are fairly new to the mortgage business, then shadowing a processor can also be very beneficial. Some of the very best loan officers I know started their careers as processors. Learning what goes into getting a file from application to closing will give you more confidence working with borrowers and Realtors.
Read much and read often. Mortgage industry periodicals, sales and marketing books, etc. I also recommend reading books about successful entrepreneurs. Look at what others have done to create success in their lives and imitate in your business.
Don’t underestimate yourself. Truly believe that you are your referral partner and prospects best choice. If you are spending the necessary time to understand your business and be an expert then you should expect to be a strong producer. Confidence is internal and if you struggle with this, take the time to do everything you can to become confident.
It is also important to talk with confidence and enthusiasm. Too many loan officers spend their day complaining and rehashing problems. Be positive and confident and you will find that people are attracted to you and will want your help with their mortgage financing.
Bliss Sawyer is a nationally recognized coach, trainer and speaker. She specializes in relationship-based marketing strategies for mortgage professionals. She can be reached at 806-577-3937 or by e-mail at
