The 7 Core Beliefs of Very Successful Loan Officers

So often business success doesn’t come down to tactics and strategies but, instead, rides on one fundamental basis on which everything depends – your core beliefs.

Having worked with elite producers from all over the U.S., I have learned that there are some core beliefs that these very successful loan officers hold that make the difference in their performance and productivity every day.

First, they believe success comes from service. Service is about keeping your clients and agents informed, in a timely way, about what’s going on and what they can do to help expedite the loan process. It means being available when needed, even if it’s not during banker’s hours (there are systems that we have in place so it doesn’t have to be “you” that is available after hours or weekends). It means making sure your clients have what they need and want throughout the deal, which may include having one of your team assigned to handle their file so it’s not only you personally providing stellar service. It means having a person answer your office phone every time it rings. It means no unwanted surprises in the deal – communicate, communicate, communicate.

Second, elite producers are generally willing to do what others are unwilling or unable to do. For example, they find a way to make more connections, have more face-to-face meetings, attend more local networking events and cultivate more relationships and referrals every week. Whether that’s through a marketing strategy that opens the doors or sitting down and making the calls or using social marketing creatively or something else, these loan officers go above and beyond to create the results they want in their business. There is a level of humility in that these are also the people who will empty the wastebasket and put on the office coffee in the morning.

Third, the depth of their network is more important than the breadth of it. That might sound like the exact opposite of what I just said but read both these points carefully. They do what it takes to meet people AND they go deep in those relationships vs. just having a large superficial network based on business cards. People have to know you care before they care about doing business with you.

Fourth, they know that leadership is, in a sense, ordained by others. Leaders do not stand up, proclaim themselves a leader and that’s it – they need followers. Without followers, without a team, without a tribe, a leader does not exist. Leaders earn their title every day. Smart loan officers build their teams and communities successfully when they remember this fact.

Fifth, elite loan officers pay it forward. When they get a referral, or get handed a great opportunity, they acknowledge where it came from and pay it forward in some way. When they participate in their community, they get the gift of feeling good about what they do and who they help. Generous people generate.

Sixth, no conformist has ever made history. Very successful loan officers push the edges of the status quo to do what’s needed vs. what’s expected or even what others think is right. They follow their nose to go outside the box and do the right thing for their clients to get the deal done the right way.

Lastly, they choose themselves first. This is not about being selfish! Instead, this about not waiting for anyone’s permission to be successful or take right action for their team, their clients, their business, and their families. Wealth is a by-product of doing the right things in the right order based on the right mindset. By knowing that they deserve the rewards of their hard work, they experience them.

Look, I don’t pretend to know all the answers. But having been in the business and being good at it, and then having had the chance to meet, work with and hang out with these super producers, I have picked up a thing or two. These are just some of the things I’ve observed over time and that I think make a big huge difference. Beliefs create action and action creates results, so if you want different results, check your beliefs. Get your beliefs lined up and your business should flourish.

 

Carl White, Chief Officer of Coolness
Article Originally posted on LinkedIn

If you have questions about this topic, set up a free strategy call with one of our coaches at loanofficerfreedom.com/strategycallrequest

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Each Customer is a Unicorn

Sometimes it gets real easy to forget that each of our customers is a unique individual with a full life, dreams, loved ones and fears around really going for what they want, especially when it comes to owning property.

On top of that, business generally is getting more competitive by the day. There are a lot of things pulling at your customer to make decisions. I read a statistic the other day that says we all get bombarded with something like 80,000 messages a day! How does anybody get through all that?

Well, the short answer is that it’s about authentic relationships and remembering that a great customer is like a unicorn – they’re hard to find, they have choices about who they want to work with and they symbolize prosperity. (That is a true statement – go Google ‘qualities of unicorns’!)

So, what is the proper care for a unicorn, I mean, great customer?

Obviously, you need to appreciate them. Demonstrate that you care for each customer. Keep them informed, make your callbacks on time, let them know their options, learn about who they are in case you can help them with your connections or in some other way.

Be prepared when you share information. Do not waste time or come across as disorganized because that makes just about anybody nervous – be professional.

Keep it real. Ask about what’s going on in their lives. Sometimes life gives us lemons, even in the best of circumstances. If they’re going through a stressful time, listen and empathize… see if you can help in some way but, sometimes, all any of us needs is an ear. Don’t gloss over it; instead, be supportive and apply the Golden Rule (treat them the way you’d want to be treated).

Check in beyond the basics. This isn’t just about business – it’s about someone in your network who you care about because business is personal. So, send a holiday card, congratulate them on their kids’ graduation, call them to say happy birthday, ask how they’re doing and if there’s anything they need that you can help them with, even if you’re not working a deal right now. Because then they will remember you the next time they have (or someone they know has) a deal.

In the end, each of your customers is a rare and precious thing – a proverbial unicorn. Not only do they help you be prosperous in your business, but they can add joy and happiness and humanity to your world when you do it right. And, in the end, that’s pretty magical.

Carl White, Chief Officer of Coolness

Article Originally posted on LinkedIn

If you have questions about this topic, set up a free strategy call with one of our coaches at loanofficerfreedom.com/strategycallrequest

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Being a Loan Officer Is a Journey, Not a Destination

Most kids grow up thinking they want to be an astronaut or a ballet dancer or a professional athlete; it’s hard to spell mortgage as a 7-year old, much less know you want to become a loan officer. But when you are called to help people change their lives through owning property, being a loan officer is the absolute best career to help others and live a great lifestyle at the same time.

I talk to many loan officers every week and one of the recurring themes is around how they want things to be different right NOW. And I get it – I really do. At the same time, if we all got what we wanted in the exact moment we thought it, it would be chaos (and we might want to take a few things back!).

So, let’s consider what it takes to be a successful loan officer. There are two paths that you have to walk at the same time – both of them are journeys and both of them lead to destinations along the way.

The first path is about the technical, external business stuff – like, knowing the process of attracting prospects and converting them into clients with an app and pre-qualification process, getting the right paperwork together, doing the follow-up with your clients and real estate folks, making sure you have the right team in place, having the right technology and systems to make it all easy and a lot more. (If you read Crushing Call Reluctance, you’ll have a pretty good idea of what goes into setting yourself up for success.)

The second path is, maybe, the more significant path. It’s the internal path of knowing yourself, knowing why you do what you do, being in integrity with who you are, being transparent and authentic and real in your relationships, being humble enough to know your place in the grand scheme of things, having the right amount of ego to know you make a difference in people’s lives. When you are successful in your business, it will amplify who you already are… so if you can look yourself in the mirror with a sense of pride and purpose, you are going to naturally attract even more success.

If you aren’t having the level of success you want in your business, it might not be about the external stuff – tactics, techniques or strategies; instead, it might be because you aren’t keeping it real about who you are and why you have your business. Either way, being a successful loan officer is a journey, not a destination. I guarantee that you will learn – and enjoy – more when you slow down enough to take in where you are instead of rushing toward a destination that’s really just a moving target.

Why do I say your destination is a moving target? Because it’s natural to reach a goal and then go for a bigger one. So, the destination is kind of an illusion because you will never really meet a ‘final’ destination (at least, not until you are six feet under). That means the journey is what really matters – and that happens today, tomorrow and then the next day.

If your journey isn’t what you want, it’s time to course-correct. You need to think about how things would be different in your ideal world, then do the work to get them in place. If it’s about a new technology, technique or strategy, go get it and make it happen. If it’s about a new process or system, talk it through with your team and make it happen. If it’s about your own level of motivation, attitude or alignment with who you really are, or if it’s about confronting your fears, finding what is keeping you stuck in playing a smaller game or really ‘getting’ how important your work is to your clients, it’s time to address that thing to keep your journey moving smoother and easier. Profit will be a by-product of doing that.

So focus on the journey and you will naturally arrive at the right destination(s) both in your career and in your life.

Carl White, Chief Officer of Coolness
Article Originally Published on LinkedIn

If you have questions about this topic, set up a free strategy call with one of our coaches at loanofficerfreedom.com/strategycallrequest

 

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The Real Opportunity That Loan Officers Miss

I see it all the time – the loan officers who are working too hard, at crazy hours of the day and night, running themselves ragged trying to do it all. And then I see the hard-core producers who are just gunning their accelerators in terms of networking and cranking out numbers. Ironically, both ends of the spectrum are missing the real opportunity to be successful in business.

Let me back up a minute… is it important to have and then hit your production numbers? Absolutely. Is a key strategy to generating business leads networking? Yep – no doubt about it. Does it take hard work and going the extra mile to be a successful loan officer? For sure. Hard work is always rewarded, in my opinion… good ol’ fashion “Elbow Grease”.

So yes, all those things need to happen in your business. And, if you’ve been in my world for any amount of time, you know there are ways to make it easier to handle your leads, cultivate relationships and process applications. But that’s not what I want to highlight here because there is a much more significant opportunity that loan officers miss all the time.

Here is a recent conversation I had with a loan officer so you can see what I’m talking about.

LO: I have been using everything you teach in the Freedom Club – from the phone systems (PhoneBurnerFreedom.com) to the automated follow-up systems (AgentLegendLO.com and CRMs). I have a team helping me handle the applications now. And that freaks me out – how am I going to consistently cover all these expenses?

MeHow many people are you talking with each week?

LO: I make 50 phone calls every Monday. I send out weekly texts to all my agents. I have at least two face-to-face meetings and I go to a weekly business networking meeting. I’m posting stuff on my Facebook page.

MeI heard only two conversations in all that activity. So how many people are you TALKING with each week?

LOWell, I usually get about 15 people on the phone. But I feel like they’re busy and I don’t want to bother them, so I keep it pretty brief. And I meet a lot of people at the networking event…

Do you see where this is going?

This loan officer is so busy following the system that actually having meaningful conversations with people just don’t make the schedule!

The REAL opportunity for success in the mortgage business is having authentic connections and actual conversations with people and then, secondarily, empowering those people to have a great story to tell about your conversation!

People smell B.S. from a mile away. If you’re so busy being the big networker and just following a system because you heard it works, they’ll know they are just a checkmark on your list. They will know that they are an obligatory part of your day and they will either run away or marginalize the time you do spend with them because they’ll figure you’re just watching the clock to get to the next person.

If this is ringing as a possibility with you at all, consider this your opportunity to get a little deeper with your conversations. Let people know that you care about them and that you WANT to talk with them. The scripts we include in our program are conversation starters – but the secret sauce is really letting your personality show.

When you think about it, it’s the oddities and quirks in people that get our attention. If everyone was the same ‘color’ or ‘flavor’, it would be a really dull world (even if it was all Harley orange and black). What stands out is the unusual. You remember the person who throws salt over their shoulder or who refuses to pay for parking or can’t say the word ‘aluminum’, right?

So be yourself, take the time to care about people, have real conversations, and give your people something to share with their friends (who, by the way, are potential leads for you in the future). You’ll still be working hard but, ideally, you’ll be building solid relationships that stand the test of time and be having a lot more fun at the same time.

 

If you have questions about this topic, set up a free strategy call with one of our coaches at loanofficerfreedom.com/strategycallrequest

Carl White, Chief Officer of Coolness
Article Originally Published on LinkedIn

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Don’t Mistake Urgent for Important

One of the mistakes that many people make is to think that the really urgent things, like putting out ‘fires’, answering emails, going to the post office and anything else that screams NOW, are the priorities. And with good reason! We are conditioned to react. We are socialized to be polite. We truly believe that if something is stamped URGENT that it is… but at what price?

I’m not saying some of these things aren’t important, but the truly important things quietly wait for you to get to them. Reaching out to say hi to someone you haven’t talked to in a while, going to your child’s after school activity, taking time to decompress and restore yourself… those are the things that will matter in 10 years, not the run-around crisis-type stuff that keeps you busy all day.

There’s a balance between what needs to get done TODAY and what should be done to make a better TOMORROW for you and your family. Every URGENCY takes time away from what’s really important in the bigger picture. So how do you know what to focus on?

Following are strategies that a few very successful people use to make sure they’re doing what’s important every day. (If you don’t know who these people are, do a little research because we don’t have time to tell how amazing they are in their fields.)

  • Richard Branson: At the end of each day, Richard Branson lists his top 3 priorities for the next day. And the next day, he works until he accomplishes those three things. Nothing else gets his attention until those three priorities are complete.
  • Tim Ferriss: Take the first hour of the day and make it your Golden First Hour, where you focus only on important priorities. Avoid exposure to things you’ll need to react to, like emails, texts, Slack messages, etc. Identify at least one milestone of an important priority that you will reach and accomplishing during this hour. You may want to tackle your hardest priority first to create project momentum.
  • Ariana Huffington: Take 20 minute ‘pauses’ in your day to refresh your energy. Then focus on what you want to achieve with clarity.
  • Warren Buffett: List your top 25 priorities, then circle your top 5 priorities. Where other experts would say schedule in the others as you can, Warren Buffett says the other 20 become your ‘Avoid At All Costs’ list, because they will divert your attention away from your true priorities.

We all have the same 24 hours in a day, yet the people above have accomplished big things in their time. And if they can make the time to address what’s really important, instead of only reacting to urgencies, so can you.

Here are a few more tips that I think are pretty good…

  • Take time to think about your life. Even if it’s 5 minutes in the shower, reflect on what’s good in your life and give thanks.
  • Give yourself a bedtime. As an adult, going to bed early is the same thing as sleeping in. So often we stay up to watch that last show or do that last thing when, really, it’s costing us valuable energy that we could have for the next day. So just go to bed already.
  • Take 20 minutes on Fridays to plan your next week’s priorities. Try to front-load the week. Know where you’re going to invest your time on what’s really important and create some breathing room daily.
  • Put a time limit on urgencies, errands and chores. These are the time-suck things that can keep you on the move while the really important things wait for you to have the time that you’ll never have if you keep doing everything else.

These might sound basic but even one of them can change everything for you.

The most important thing for you to get out of all this is to not confuse urgency with importance. Know what’s important to you and your family and make that your urgency.

If you have questions about this topic, set up a free strategy call with one of our coaches at loanofficerfreedom.com/strategycallrequest

Carl White, Chief Officer of Coolness
Article Originally Published on LinkedIn

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