Three things every loan officer should be doing to get new business

It’s easy to stay motivated and on top of your game when the phone is ringing and when deals are moving along.

But what is your game plan for the times when the phone is quiet? Do you even have one, or are you just winging it?

Those “quiet” times are actually huge opportunities for your business and, if you do these three things, may be far and few between.

Nurture Relationships

With technology at their fingertips, many customers think they can navigate the home-buying process on their own with the many tools available to them.

However, we all know that there is always the point when the customer realizes they need a professional’s help. That’s why it’s important that you are the professional they call.

You can stay at the forefront of their mind by keeping the conversation going with them and checking in occasionally. Find opportunities to educate them to show that you’re on their side and the expert they can turn to with questions and assistance.

Here are a couple of questions to ask them when you check in: 

• Ask if you can help them navigate their credit score and report and explain how it impacts their ability to purchase.
• Ask about the specific property they are interested in buying.
• Ask if they’ve seen any other rates, they’re happy with.

Sell Yourself

 If a customer can’t find you, they aren’t going to use your services. At a very basic level, you should have a website to showcase the services you provide, testimonials from past happy customers and resources that homebuyers will find useful.

When considering what information to include on your website or in other marketing, think about what information they need to know at this point in their home-buying journey, as well as information that positions you as the expert you are.

Having a presence on social media isn’t just an option anymore. That’s where your buyers are spending their time and if you don’t have a social media presence, they will find someone who does.  

If this is new territory for you, try to think of your website and social media pages as a digital business card that you get to pass out multiple times a day.

Spread the Word

Down time is the best time to grow your network, put your name out there and work on strengthening the network you already have.

If you’re not sure where to go to, here’s a quick brainstorm on who to include in your circle so that you can refer business to each other and/or share resources. 

• Listing agents
• Appraisers
• Accountants and CPA firms
• Real estate attorneys
• Relocation specialists
• Real estate appraisers

Hopefully, these give you some good ideas on where to start. Don’t forget that the times between customers are the times that could make or break your business!