Common Communication Mistakes All Loan Officers Should Avoid

Common Communication Mistakes All Loan Officers Should Avoid

Top loan officers recognize that communication is a foundational element of a successful mortgage business. Whether we’re talking with a prospect, client, colleague, or other business professional, our communication plays a key role in strengthening the connection. And while most professionals agree that communication is important, there are still some common mistakes that can get in their way. Unfortunately, these mistakes can easily turn into subtle habits, creating a constant drain on our potential for success. This is why is so important to check in from time to time to ensure that none of these common mistakes are holding you back:

Speaking More than You Listen

As loan officers, we’re educators. For many of us, sharing what we know with our clients is a part of our passion. And this is great. We want to educate and empower our clients. We just don’t want this desire to teach to turn into monopolizing the conversation. The best strategy for putting your clients at ease is to show them that you’re dedicated to getting to know them. Ask questions and create space in your conversations to let your clients voice their thoughts and clarify important points. When you work towards a healthy ratio of listening and speaking, you establish a dynamic in which those you’re interacting with feel valued and heard.

Using the Wrong Medium

Today, we have a wide variety of options when it comes to how we communicate. From a casual text to an in-person meeting and everything in between, loan officers need to understand the importance not just of what they say, but the vehicle they use to say it. Different strategies will work for different loan officers, and your communication style may even change slightly from client to client. The idea here isn’t to have a rigid plan but instead to note the importance of medium so that you don’t fall into the habit of using one that isn’t conducive to your success. Whether it’s delivering a difficult message, focusing on convenience, or simply maintaining your connections, be intentional about the way you choose to do so.

Not Staying Present

There’s no way around it, many loan officers are incredibly busy professionals. This often means they’re holding countless things in their minds, always with something to improve or navigate. Don’t let these thoughts infiltrate your conversations. If you start to tune out and get lost in your thoughts, bring it back to the person you’re speaking with. Even if you haven’t gotten carried away on an unrelated topic, it’s easy to get caught up planning our response while the other person is speaking. If we want to excel in our communication though, we need to stay focused on the person in front of us and the information they have to share.

Making Assumptions

Whether it’s assuming that a new connection will reach out to you if they want to continue talking, or assuming that everything is crystal clear for your clients if they haven’t voiced their questions, when we assume, we take a rather one-size-fits-all approach to our communication. Open-mindedness is essential. It reminds us that every prospect, client, and professional is unique, and the more we keep that in mind, the better we can communicate with them.

 

Communication is woven throughout all areas of the mortgage business. If you want to earn prospects’ business, deliver the best service to your clients, and expand your network, avoiding common communication mistakes is key. Are there other communication mistakes you find that can have a significant impact on success? I’d love to hear your thoughts.