Marketing Strategies For Loan Officers

A friend of mine, Carrie, was telling me a story about how she had a co-worker that would come to the lunchroom every day and open up a brown paper bag that had his lunch.

He would sit at her table, then slowly open the brown bag he had brought for lunch, to see what was inside side.  He would then pull out a peanut butter and jelly sandwich, look at it, roll his eyes, and commence eating his sandwich. 

Every day the same routine.  Open the bag, hoping there would be a change, but nope, he would pull out yet another peanut butter and jelly sandwich, roll his eyes and put out a groan of misery, and commence eating the same thing, work day after work day, week after week, month after month.

After this went on for about 4 months, my friend, Carrie, tired of hiring the whimpering, asked him one day “Why don’t you ask your wife to make you something different for a change?”

“Oh”, he replied, “my wife doesn’t make my lunch, she has a job too.  I make my own lunch every day…”

You see, his actions, or lack thereof, were responsible for his own “misery”.

He kept doing the same thing, day after day, week after week, month after month expecting different results, but of course experienced nothing but frustration.

And even though we may find this story amusing, asking ourselves “why is he making the same sandwich for himself over and over when obviously he “wants” something else”, how many of us have been (or are being) guilty of the same thing in our mortgage business.
Many LO’s keep staring at the phone, wondering why it’s not ringing off the hook, or wondering why our social media “likes” aren’t actually turning into real leads, applications, or closings…

Or how so many LOs keep buying “magic beans”… over and over and over.. resulting in little or no closings.

You know what I mean, the ol’ “If you do this, people will be begging to work with you without you having to ever do outbound calling..” or “do this on social media and you too will be rolling in the loans…”  kind of stuff.

But you and I know that it’s the salesmanship that actually produces the sales.

Trust me, I have to remind myself of these things pretty darn often.

We have to actually take action and make actual contact with people who can refer us business (all for free), and then actually contact those people that were referred to us.

Anything else and, well, we’ll get the same results as our peanut butter friend.  The same lack of results, over and over and over and over.

You deserve so much more!

There are no “magic beans”.

Soooo…. If you are tired of peanut butter and jelly sandwiches, hit me up, and let’s make something else..

You are worthy.

Never make another goal!!

Never make or pledge another goal… like ever ever again.

Here’s the thing, when we make “goals”, we are putting ourselves in a very small box because we are thinking “realistic”.

You see, we make “realistic” goals.  And that’s a major problem. 

Realistic goals require us to think about how we have gotten results in the past, doing things the way we have done things in the past.

Like the person who has set a goal to go to Florida from New Mexico in record time….
…4 months… because he’s only ridden a horse to get there in the past.

The thought of jumping on an airplane had never occurred to him simply because he did things the same way he had always done it in the past.

So instead of setting “goals”, I have found it best to actually map out a plan, a proven plan, that I have seen somebody else put in place and execute, then they got the results that I’m wanting to get on that project/plan.

Often times they do a small little twist to the “normal” method, that drastically increases the results.

For example, Clint Hooper, the dude has only been a loan officer for about 12 months and he closed 9 loans in June and looks like he did another 9 in July (waiting for final numbers).

How did he do it? He copied a proven plan and then executed it… with no past experience!

Really simple formula for success there. It comes with my highest recommendation. 

It’s how my own mortgage team closes hundreds of loans each month.  Just that simple.

The key is to find out who really is having the results so that we copy the right people to get the “right” results.