Marketing Strategies For Loan Officers

They aren’t referring to you because of… YOU

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Once we understand WHY they refer to us, it’s a lot easier to get more of them.

Simply find out what causes the WHY, and just do more of that.

Ok, that sounded a little harsher than I meant it to, but it’s the way it is.

I want you to picture the last birthday party you went to…

When it’s time to open the presents, I think the “givers” are more excited than the person receiving all the gifts.

All the “givers” are shouting out, “open mine next, open mine next”.  You see, we feel good about ourselves when we see them open our gift and watch them experience the joy of receiving the gifts.

A psychologist once told me that people give gifts, not to actually give gifts, but to feel good about themselves for giving the gifts…

hmmmm….

I know that sounds totally narcissistic, but I think she is on to something there.

So when people give us referrals, it’s not necessarily to help you or “because of you”, it may be because it makes them feel good about themselves when you tell them how much you appreciate the referral (the gift) and how important they are to you.

So using that line of thought, they don’t refer because of “us”, they refer because of “them”.  It gives them a boost of dopamine (a brain chemical) that makes them feel good.

So if we take it to the next step, when we ask people to refer to us, we are giving them the opportunity to feel good about themselves.

And if we hold back on asking them for referrals, then we are robbing them of the opportunity to feel good about themselves.

A very interesting concept that I have found to be very true with my mortgage team closing an average of 397 loans per month last year (and this year shaping up to be even better).

Sooooo, when you want help with scripting on HOW to ask for referrals, hit me up on one of our FREE STRATEGY CALLS FOR LOAN OFFICERS and we’ll walk you through exactly how to do it with both agents, friends, and past clients.

Giving more people a chance to feel even better about themselves is always a good thing.

I got your back,

Carl White

A.I. Lead Generation for Loan Officers

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In this episode, Carl invites Chris Johnstone on the show to discuss how Artificial Intelligence (A.I.) in just a couple of short months has started to transform marketing opportunities for Loan Officers! They share invaluable insights on how loan officers can leverage AI and SEO to generate quality local customers from Google and Ratings and reviews.

To claim one of the 8 beta spots that are discussed during the episode visit TopLOAI.com.

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Crazy stats for LOs…

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I just heard two crazy stats.

Crazy stat #1:  1 out of every 6 loan officers didn’t renew their license this past quarter.

Crazy stat #2:  2023 is projected to be the 3rd best purchase market ever for loan officers when measured in volume (how many dollars were loaned out).

So how is it that so many LOs are struggling, yet it’s the 3rd best purchase market (measured in volume) ever?

I’ll tell you what I came up with…  read on..

I have found that the issue is, they aren’t focusing on their marketing.

You see, they may know about what to do once a loan comes in, but that’s not where the money is.

Think about McDonalds. The person making the fries is likely at minimum wage. 

The person that makes all the money is the one that gets the customer to drive up to the window… the marketer.

Another way to look at it is, there is no award for the “Best Written Book”.

All the awards are for getting on the “Best Seller” list… the marketer…

So while certainly knowing the guidelines are important, whoever masters the marketing will be the king / queen of all the lands.

And while we are on that subject, stay focused on what has worked for years and years and years…

I see soooo many “experts” trying to sell magic beans.

Breaking news:  There are no magic beans.

There’s a reason why my branch is one of the largest ones in the nation…

We spend more time doing what most others avoid doing… prospecting.

While others spend an enormous amount of time and money trying to grow magic beans, we spend 2 hours each day actually prospecting <gasp>.

It literally pains my heart when I see LOs leave this amazing career, and 98% of the time it’s not their fault, it’s because they simply haven’t been shown how to effectively prospect for business.

Almost always, they fall prey to some “trainer” selling them “magic beans”, you know, the ol “this will have agents begging to work with you” sales pitch.

Let me share some breaking news with you, my team and I have literally closed 10’s of thousands of loans over the years.  We bring in those leads in dozens of ways.  

In my decades of being a top producing LO and now branch manager with thousands upon thousands of transactions under my belt, I’ve never seen anybody ever “beg for business” or have people begging to work with them.

People have fallen for that ol’ snake oil pitch since the beginning of time.
Any time someone uses that line, hold on to your wallet.  Some shady character is looking to benefit themselves at your expense.

If you are looking at a plan, and want a 2nd opinion on how to maximize it, start it, or tweak it, or want to see my proven plan, reach out to me and I’ll hook you up… no charge.

Schedule Here

The 4 Steps for Success

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In this episode, Steve Kyles and Carl White share the 4 steps of adding talent to their team of loan officers.

Whether you’re a Branch Manager looking for the best ways to attract the right LOs or a loan officer wondering what questions to ask when being approached with opportunities – this is your episode. 

Carl and Steve are sharing their own strategies on how to go about bringing on new loan officers who are willing to do the work and structure their processes with a solid plan. 

Listen in to hear how it’s broken down by the who, the hook, the platform and the follow-up. 

Find out more about how we do this by scheduling a call here.