FOOLISH MISTAKES LOAN OFFICERS MAKE
Since today is April fools it dawned on me to share with you all of the foolish things we do as loan officers. Here are a few of the most FOOLISH mistakes we all make Becoming An Advertising Victim. This is a common mistake we all have made or continue to make. Never use just brand advertising to “Get Your Name Out There” It’s far more effective to use targeted marketing that can be tracked and accountable to you for every penny you invest. Not Having A System For Automated Follow Up. Let’s be honest with each other- None of us follow up with clients and prospects as often as we should. We get busy, distracted and just simply forget. You must have a systematic system for following up with your prospects and partners that doesn’t involve you each time. Not Marketing To The Easiest Customers You Have. Too often we fail to market to or follow up with the clients and partners we already work with. The best source of new and continued business is referrals because they come to you already pre-sold. Each and every month you need to follow up with these folks and have systems in place to generate referrals. Not Being An Offensive Communicator. Agents care about how much you know but more importantly they need to know you care. Do you contact them weekly with updates or do you simply wait for them to call you screaming? Do you let them know when there are issues or better yet- do you know when issues come up or do days go by? Being A Generalist Instead of A Specialist. I am famous for saying you need to be a specialist and for coining the phrase HEAD OF LETTUCE syndrome. Look at any field and the specialist always is better respected and earns more than the generalists. You need to pick a specialty – become the expert in that niche and then let everyone know about your expertise. Naturally there are more FOOLISH MISTAKES than these but if you commit to mastering even just a few of these you will quickly see a HUGE spike in your income.
Brian Sacks – Top Originator
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