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Atricle Dump - The Art of Getting A Loan Officer Referral
We’ve all worked for some ‘not so great’ managers and we love to talk about it. Just listen in the airport, on the golf course or at the latest social gathering and you’ll know what I mean. But what does a good manager look like?I took my wife to the airport yesterday morning at 0 dark early and stopped at the grocery store, a national chain, to get a couple things. While checking out I struck up a conversation with a nice lady who I’ve seen for some time while shopping th
So how do you go about getting more loan officer referrals?
1. Ask for them. It's amazing to me how few mortgage profes
Mining Gold is hard work you know? There are many people in the US to this day who still mine for gold. Did you know that in many countries people have protested mines, gold and silver are easy ones to protest because it is associated with greed as those minerals are also considered legal tender.A great mine to visit is one of the first gold mines in the country, The Reed Gold mine in Charlotte. There were over 300 gold mines in North Carolina in the 1820’s. This of course
Mortgage professionals that are struggling tend to have very few, if any, loan officer referrals. They typically generate almost all of their loan business from prospecting. And while prospecting does have its place and is very important, creating a system that produces loan officer referrals should be the top priority.
Why such focus on getting referrals?
They are easier to work with. Which loan would you rather have? Loan A was generated from a prospect call on one of your classified ads. Loan B is a referral from a satisfied previous customer of yours.
Loan B of course! From the outset, the prospect from Loan A doesn't know who you are, and you don't know them either. There is no trust formed yet.
In the case of Loan B, you have already been pre-sold by your former customer. Before you even meet, you will have already developed a high level of trust with this person.
So how do you go about getting more loan officer referrals?
1. Ask for them. It's amazing to me how few mortgage profess
Bulgaria is located in Southeastern Europe, bordering the Black Sea, between Romania and Turkey. It has a total area of 110,910 sq km, 110,550 sq km of which is land; with water comprising 360 sq km. this makes Bulgaria slightly larger than Tennessee. Bulgaria is bordered by Greece, Macedonia, Romania, Serbia, and last but not least Turkey. The climate is temperate with cold, damp winters and hot, dry summers. Bulgaria is rich in bauxite, copper, lead, zinc, coal, timber and ar
Mortgage professionals that are struggling tend to have very few, if any, loan officer referrals. They typically generate almost all of their loan business from prospecting. And while prospecting does have its place and is very important, creating a system that produces loan officer referrals should be the top priority.
Why such focus on getting referrals?
They are easier to work with. Which loan would you rather have? Loan A was generated from a prospect call on one of your classified ads. Loan B is a referral from a satisfied previous customer of yours.
Loan B of course! From the outset, the prospect from Loan A doesn't know who you are, and you don't know them either. There is no trust formed yet.
In the case of Loan B, you have already been pre-sold by your former customer. Before you even meet, you will have already developed a high level of trust with this person.
So how do you go about getting more loan officer referrals?
1. Ask for them. It's amazing to me how few mortgage profes
Have you looked at your Yellow Page ad recently? You know, the one you’ve had for years. Has it changed much? Is it getting all the customers you want? Are you really tracking the results? Perhaps you are doing everything you can or don’t have the time to do anything at all. The day will come when the rep calls to renew the ad and you should take a few moments to make sure it’s working hard for you. Besides a headline that excludes your name, unless it’s a brand-name, and a pictu
Why such focus on getting referrals?
They are easier to work with. Which loan would you rather have? Loan A was generated from a prospect call on one of your classified ads. Loan B is a referral from a satisfied previous customer of yours.
Loan B of course! From the outset, the prospect from Loan A doesn't know who you are, and you don't know them either. There is no trust formed yet.
In the case of Loan B, you have already been pre-sold by your former customer. Before you even meet, you will have already developed a high level of trust with this person.
So how do you go about getting more loan officer referrals?
1. Ask for them. It's amazing to me how few mortgage profes
When your enterprise decides to undertake a new endeavor -- whether it's designing a new training program, planning a new service, or revamping an existing product -- this endeavor is called a project. It involves people, funding, resources, schedules, requirements, testing, fine tuning, and deployment, plus a host of other activities.You may have seen this phenomenon by now: projects are risk magnets. Why is that?There appear to be several factors involved. Managin
Loan B of course! From the outset, the prospect from Loan A doesn't know who you are, and you don't know them either. There is no trust formed yet.
In the case of Loan B, you have already been pre-sold by your former customer. Before you even meet, you will have already developed a high level of trust with this person.
So how do you go about getting more loan officer referrals?
1. Ask for them. It's amazing to me how few mortgage profes
Despite widespread agreement that effective expense management is critical to business success, there's still one aspect of expense management that tends to be handled badly. And it's costing many businesses millions each year! Ironically, it's a cost that can be drastically reduced (all but eliminated) overnight.I'm talking about the processing costs associated with purchases. They're called "transactional processing costs"; they're not the cost of the purchase itself, bu
So how do you go about getting more loan officer referrals?
1. Ask for them. It's amazing to me how few mortgage professionals ask for referrals. You may still get a referral or two here and there, but you drastically increase the chances of receiving referrals by just asking for them. The worst case scenario is that the person says no. So what? Maybe right now they just don't know anyone.
But then again, maybe they do know someone. The point is that if you don't ask, you will never know.
And asking for a referral doesn't have to be a difficult or unpleasant task. Don't ask for a referral in the sense of asking for business. Ask in the sense that you would like the opportunity to help someone out in a field that you are an expert in.
DON'T SAY: "My goal is to close ten loans this month. Do you know anyone who may need to get a mortgage?"
DO SAY: "My goal is to provide not only you with professional financing assistance, but also your friends and family. Do you know anyone who may need help with a financing situation?"
2. Provide awesome customer service. And to me this basically means keeping the client informed throughout the financing process. I know of too ma
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