What Every Loan Officer at the Top of Her Game Knows

A few years ago a coworker I had was attending a meeting with some a group of the best loan officers all over the United States to see how it was that they were doing what they were doing (achieving top marks across the industry).

Apparently all of them have just one single thing in common between all of them. What is it? A huge network of partners for referrals. This lets them max out their opportunity in the space and get tons of business. Past that, though, they all are fully aware that they need to be different than the competition. They have to stand out. Now, after having spoken with a TON of different loan and mortgage officers, I’m sure I’m onto their coveted secret for succeeding. That secret is that they actually engage and setup events with these partners!

Sure, it sounds simple, and in theory it is pretty simple. However, it’s not something that is automatic. This is something that you have to work at. To get that success going with this, I’ve put together a quick list that I use myself every time I setup an event with one of my partners.

Step One: Grab Some Lunch With Your Partner
Everyone eats lunch. It’s a great place to converse and brainstorm. Your partners are going to be your insurance agents, your planners of finance, your realtors, etc. Pretty much anyone who might build up relationships with homeowners and potential homeowners.

Step 2: Brainstorm Events!
There are no bad ideas. Throw out as many as you can with each other. It should be a fun event that is appealing to potential buyers.

Step 3: Approach Owners of the Venues
Go over costs for the event, either 1/2 or full day. Usually these events help the owner of the venue as well, so you can usually get some costs down by showing off how they, too, can benefit.

Step 4: Go Over Strategy With Your Partner(s)
Discuss a number you can both agree on to invite to the event, be they friends, potential leads, previous clients you’ve worked with, etc.

Step 5: Send Out Invites to Local Business Owners
Grab some local business owners that have related services for your venue. It helps them and you at the same time.

Step 6: Registration is Required
This helps you grab that contact info. Emails, addresses, phone numbers, etc. This is important information for future business, after all.

Step 7: Setup Some Booths
Show off some educational information on the different loan and down payment assistance programs. Realtors can show off MLS access and discuss homes that are on the market. The local business owners you invited can give out some samples, talk their business up, or hold a drawing.

Step 8: Give All Hosts a Registration List
This gives the hosts you invited some value for their marketing and builds the relationship.

Well, there it is. This is the exact way so many of the top guys build up their referrals. This helps you get to the top! Just try it out and see how far your business goes.

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