Follow-Up Mistakes That Limit the Growth of Your Mortgage Business

Communication is a central part of our work as loan officers, and often, that requires following up on previous conversations, especially with prospects. As we all know, not all follow-up attempts are successful. Sometimes, this is out of our control. But other times, there are subtle mistakes that can make it less likely to get a call back. Today, I wanted to look at several of the most common mistakes professionals make when it comes to following up and ways to avoid them:

Too Brief

Whether it’s that we have a mile-long to-do list or worry about burdening our prospects with too long of a message, it’s easy to tend towards short and sweet follow-up messages. When we resort to the simple, “just following up” line and leave it at that, though, we may be missing out on an opportunity for more. While keeping your messages concise is one thing, leaving them completely void of subject matter is another. It’s important to find that balance and leave a message that doesn’t take up too much of your prospects’ time but that also gives them a real reason to call you back.

Not Demonstrating Value

Demonstrating value is a great way to do that. And it’s something many professionals can leave out of their follow-up messages. Even in a short message, it’s important to show a prospect what you have to offer. Where is the value in working with you? This is something you can demonstrate rather than spell out. Sharing some useful information, showing a dedication to their needs, and making yourself available should they want to set up a meeting are all ways to show your prospect that you’re ready to invest in the relationship and that you have something of value to offer.

Impersonal

Even if you need to make ten follow-up calls in one day, they should all be a bit different. They might follow a very similar formula, but it’s essential to tweak them with some personal details so that your prospect feels that you’re talking to them directly. An impersonal message sends the signal that your overall approach will be impersonal. When you demonstrate from the start that you value a personal connection with your clients, you give prospects a glimpse into what it would be like to work with you.

Not Strategic

Though following-up can seem like something we do organically, most professionals need some strategy to be effective. If you follow up once and don’t get a response, do you leave it at that? How many attempts is too many? How do you know when to direct your attention elsewhere? Do you use a CRM system to track your outreach? These are all important questions that a clear follow-up strategy can help to answer. While it might look a bit different for every loan officer, taking the time to build out this strategy can make your messages more effective.

Following up may be just a slice of what we do as loan officers, but it can have a significant impact on our overall pipeline. If you’d like to discuss ways to strengthen your follow-up strategy and increase your pipeline, don’t hesitate to reach out. I’d be happy to set up a time to connect.