Last year hindered many things in life, but many were still able to become a successful broker in the industry. Despite the setbacks from the global pandemic, several brokers learned to thrive in the new environment.
So, what are bad habits that you can break to become the most successful broker you can be? Keep reading to learn loan officer habits to leave behind as we move forward past the pandemic.
Put in the Time
As a loan officer, it is important to show up each day, ready to work. Loan officers tend to leave behind the rigid 9-to-5 work schedule and work on their own time. So, don’t fall into the trap of working less and getting behind! You know the saying, work smarter not harder.
Some brokers have started the habit of filling their week with personal errands alongside work. Without even realizing it, these loan officers begin to work parttime. Necessary job-related activities get put on the back burner. Also, there is less time to do them with errands now on the schedule.
So, realize the time and effort you need to put into your work and your customers. This allows you to be a successful broker.
Do the Work
So, gain a better understanding of time management as a mortgage broker. Then, tackle the work in front of you.
Often, the more time you spend searching for loans, the more loans will find you. This is thanks to referrals and partners in the industry.
But, many brokers get in the habit of falling into repetitive tasks such as paperwork and filing. Rather, they should be communicating with potential clients. After all, busywork can be seen as an easy escape from more important tasks and sales.
So, don’t just stare at a loan file all day that you have already earned. Get out there and do the sales work at the start of your day! This saves you future pain, such as less overall business.
Create a Plan
Every loan officer handles their mortgage business differently. But, a successful broker follows a similar routine to other successful brokers.
Some loan officers work best with plans and guidelines. So, they have specific processes and business plans that fill up to-do lists. Each day is a new opportunity for growth and development.
On the other hand, some loan officers have no set plans. They prefer to move from one task to the next. Also, they have the habit of “winging it” and working on things without an order or priority. This can ultimately lead to poor decision making and inconsistencies in your work ethic.
So, create your plan now and gain a successful business future!
Be a Trustworthy, Successful Broker
With consistent client communication, it is important to become a trusted advisor for your borrowers. After all, they look to you for advice and help throughout the loan process.
By answering calls and emails promptly, you remain reliable in the eyes of your clients and partners. So, make sure your customers and coworkers can count on you to deliver commitments. Be where you say you are going to be. Also, do what you say you are going to do.
Failing to be dependable is a habit that forms over time. It grows from few consequences to a character flaw. Trust is key in loan officer and borrower relationships.
In today’s virtual world, it has become more evident that email is an efficient way to communicate. But, to be a successful broker, you can’t stop there. Don’t get in the habit of relying on email as your one and only form of communication.
Communicating with realtors to set up an appointment and more do not have to be over email. So, meet socially distanced, pick up the phone, or connect via a video platform. Great relationships built on multiple channels of communication will stick since they are more personal.
The COVID-19 pandemic subsides and circumstances allow for more types of communication. So, pick up the phone and get out the door to keep these relationships strong.
Communicating consistently is key to being a successful broker. Another habit to break is being “wishy washy” with your sales. Try not to sell in spurts, only when you need more loans in the pipeline. Instead, practice maintaining consistency, week after week.
An off-and-on sales and marketing approach creates a roller-coaster effect in your loan production results. Maintain your momentum.
Find that balance between selling and servicing that works for you specifically. This allows you to grow into a successful broker.
Bad habits can form at any point in a person’s life. But remember, bad habits do not make you a bad person or broker. They just stand in your way to greatness.
If you’ve fallen into a rut during the pandemic, take specific steps to get back on track. The longer you wait to break a bad habit, the more difficult it is to free yourself from it.