Here’s Why Being a Perfectionist can Be Harmful to Loan Officers

For loan officers to do their jobs correctly, there has to be some level of perfectionism in their work — some things just have to be done right. There’s a point, though, where perfectionism can become an impediment in your work. This week, I wanted to spend some time on the downside of perfectionism and some of the things you can do to find a healthy balance. Let’s dive in:

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How Perfectionism Can be Helpful

Perfectionists hold themselves to the highest standards and insist on doing a great job. Being fastidious in your work is a great quality to have —it usually means that you’re paying attention to even the smallest details, so that everything works out as planned. This results in a highest-level client experience and will get your clients to use you again and tell others about you.

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How Perfectionism Can be Harmful

Perfectionism can also be harmful; it can result in stubbornness and inflexibility — not to mention an increase in stress levels. This can make you harder to work with, and harder to work for. When we set unrealistic expectations for ourselves, we can often spend more time than necessary completing even simple tasks. Insisting on perfection can also cause you to fear failure, since you never want to make a mistake. When we’re afraid of failing, we might avoid trying new ideas and taking risks, both of which are necessary for growth. The good news is, if you find yourself exhibiting these negative traits, there are ways to maintain high standards while getting rid of the most harmful qualities of perfectionism.

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How to Achieve a Healthy Balance:

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Stop waiting until you’re ‘ready’

When you set unrealistically high standards for yourself, it can result in inaction. Loan officers who are perfectionists may procrastinate on certain tasks because they feel they’re not prepared enough. Don’t let your perfectionist impulse stop you from getting started.

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Take (Calculated) Risks

Being a perfectionist can cause you to avoid taking any risks at all because failure is not an option. However, risk taking is often how we scale the greatest heights in our careers. Try new methods and new ideas — and if it doesn’t work out, keep experimenting. That process of experimentation keeps us engaged with what we do, and it keeps us excited at the future possibilities. Start challenging yourself regularly to overcome a perfectionist fear of failure.

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Set Deadlines for Tasks

Instead of allowing your standards to govern your schedule (and maybe cause you to take longer to complete tasks), try setting deadlines for each task. For Instance, if you’re creating an email to send to a group of prospects, don’t overanalyze choices like layout, font, verbiage, etc. Set a timeframe to get it done and stick to it. You’ll be less likely to overthink the minor details, and as a result, make better use of your time. ?

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There are many perfectionists in the mortgage industry. When you insist on perfection, though, you’re often setting yourself up for frustration. Instead of being rigid, aim instead for flexibility. Getting things done perfectly is an admirable goal, but there needs to be balance — you need to know when ‘good enough’ is better than ‘perfect’. ?

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If you’d like to talk more about any of these ideas, or if there’s something else I can be of assistance with, don’t hesitate to reach out to me. I’m always happy to block off some time to connect.?