What are the top producing Loan Officers doing to be the best in the mortgage industry? Well, we did the research, and interviewed Jungo’s top producing clients to find out their secrets to success and what makes them the best in the industry.
So, what does a typical day for top producing Loan Officers look like?
Well, it’s anything, but “typical.” Daily tasks range from putting out fires first thing in the morning, to answering daily emails, to working on marketing materials and focusing on bringing in more business. Because of this hectic schedule, most of the top LOs we interviewed time block their calendar at the beginning of each week to stay on track.
Nevertheless, one task is universal: closing loans.
Jungo’s top producing loan officers broke down their Secrets to Closing:
Give Incredible Customer Service
With so many Loan Officers in the mortgage space, one bad client experience can make just as big of an impact as one great one. In today’s Yelp driven culture, reading reviews from past customers is just as common whether you’re shopping for a Loan Officer or deciding where to go to dinner.
Additionally, studies suggest that we remember bad experiences instead of the good. Therefore, your past client or partner may not refer business your way if you didn’t offer the very best in customer service.
Build Strong Relationships
A great relationship with a real estate agent is one of the most important resources for top producing Loan Officers. Building long term relationships with referral partners is integral in helping loan officers keep their volume up. Great LO and real estate relationships mean more deals and success for both parties. We go into more detail in our blog post on how to attract and maintain realtor partners, here.
Embrace Digital Tools
The technological landscape is ever-changing, making it even more critical to utilize digital tools and marketing techniques to enhance referral relationships and increase operating efficiency. Maintaining systems and disciplines are essential for top producing Loan Officers.
Below are a few tools our most successful clients use to originate in a very competitive industry. Not only do these tools increase productivity, but they also integrate seamlessly with Jungo. Therefore, this frees you up to focus on what’s important: closing more deals.
Useful Tools for Loan Originator Productivity:
- Jungo: CRM leveraging Salesforce integration for task and workflow management
- Docusign: Automates the signing of documents
- GoToMeeting: Online meeting platform
- Calendly: Meeting scheduling platform
- Mortgage Coach: Mortgage and home buying advice platform
- Floify: Point-of-sale (POS) portal for borrowers to stay informed about their loan
- Encompass: Loan Origination Software (LOS)
- BombBomb: Video email service
- Optimal Blue: Pricing Engine (PPE) for quick rate quotes
Become Social Media Savvy
It’s important to recognize that each social media platform has its own purpose. Once you have a basic understanding of the four giants (Facebook, Instagram, Twitter and LinkedIn), it’s time to start experimenting. Start small, choosing one or two platforms and posting content that your followers will find valuable. Remember the 80/20 rule: only about 20% of your content should be promotional and the other 80% should be educational or industry related.
As you learn more about what your audience enjoys reading, watching or seeing, expand your social media plan to include another platform or two. Don’t forget to have fun! After all, social media is all about organic connections with the people who would benefit most from your services.
Learn from your Challenges
Until we are able to clone ourselves, it’s impossible to be in multiple places at once. So, how do you follow up on your daily tasks, meet with clients, and bring in new business every day of the week?
A major tool in your tool kit should also be delegating tasks to your team. Additionally, implementing tools such as a CRM to automate workflows and processes will take the busy work off your to-do list. Find out where you are spending most of your time and come up with a solution to automate that particular task.
Are you having trouble implementing new ideas? Start with one idea at a time. Write out a process and see if it works for you and your team. Chances are, you’ll find ways to optimize the system and continue to grow.
Although everyone experiences challenges within their role, we are constantly learning and implementing new tools and ideas. Don’t get discouraged by the various systems and tools out there. So, do your research first, and then give them a try.
Find Your People
Our final tip that most top producing Loan Officers utilize is to join a coaching program. Client favorites include, the CORE Training, Mortgage Marketing Animals, or participating in a mortgage focused Facebook or LinkedIn group. Just find a group where you can continue learning, growing, and ultimately staying ahead of the ever-changing mortgage industry.