Top 4 Mortgage Loan Officer Skills
Looking to become more successful as a Mortgage Loan Officer? Here are 4 top Skills you need to grow as a Loan Officer and grow in the Mortgage Industry.
Like any business, the key to success is consistency! Whether you're on the ground or in the office, it's important to know what you're doing, who you're talking to, and what the desired results are...especially when you're applying for a Loan Officer job with any mortgage company.
At Stratton Equities, we fixed the problem of "too much talking" and "not enough results," our CEO & Founder, Michael Mikhail, was fed up with the idea that Loan Officers had to hunt for business and therefore changed the approach.
We provide our full time loan officers with the tools they need and will continue answering questions on what it takes to be successful loan officer that's consistently closing loans.
Michael Mikhail's Top 4 Job Skills You Need to Grow as a Mortgage Loan Officer:
Don't leave the Office - When you leave your post, you're losing business! At Stratton Equities, we have direct organic leads that haven't been filtered through other mortgage companies, instead we provide stacks of leads to our Loan Officers and they are on the phones following up. As a Loan Officer, time is wasted going to events, meeting with Real Estate Agents, and chasing after potential leads, we've flipped the switch so you no longer have to leave your desk in hopes of closing.
Master the Art of the Cold Call - Although it might be an archaic art; Cold-calling is the best way and only way to successfully communicate in the mortgage industry. It's important to know your pitch, why you're calling, and know what you can offer to any Real Estate Investor that calls. If you're selling skills are not up to par on the phones, your closing rate could be going down the drain...that's why we provide hands-on training with each new Loan Officer to ensure they have a direct pathway to success.
Know Every Possible Solution - One of the first things we do with all new Loan Officers is to give them an overview of each and every one of our innovative programs. We have the most amount of Mortgage Loan Programs under one roof and we are always creating or developing new options for our Loan Officers to utilize. What we found surprising is how little many Loan Officers knew or understood about various Loan Programs. So often we would have LO's confused "Fix and Flip" with "Hard Money" Loans, we quickly realized that this was due to the fact that most Mortgage Companies only allow LO's to use one program versus a library of loan programs. At Stratton Equities, we train our Loan Officers to understand each Loan Program we offer and how they can provide solutions when Real Estate Investors thought they had none. If we can't utilize one specific type of Loan Program, chances are we have another solution that works even better (depending on the property type and location).
Be in a Position to say "Yes" more than "No" - In most Mortgage companies, Loan Officers have to say "no" more than they can say "yes," when a Real Estate Investor calls. The problem? A significant amount of Mortgage companies only focus on specializing in one singular program, which limits the number of leads a Loan Officer can take on. By working in a company that provides an array of solutions and loan programs, our Mortgage Loan Officers have the chance to say "yes" more than "no," which leads to more closings, more deals, more money, and more opportunity to grow.
Where would you like to be? Ready to join our team, you can Apply Now to speak with a member of our team.
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