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To Achieve Long-Term Stability, Focus on Relationships

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The market is always in flux, and mortgage professionals need to be prepared for ups and downs if they plan to succeed. With the current climate certainly impacting the market, it’s important that loan officers invest in strategies that will help them create a sustainable pipeline of purchase business. To me, one of the most important areas to focus on here is relationships. Connections are central to loan officers’ success, and being strategic in how you build and strengthen these is key. Today, I wanted to look at some of the most important relationships for loan officers to focus on, and in the coming weeks, we’ll take a deep-dive into each one.

Referral Partners

Referral partners can be a great source of incoming business for loan officers. They help you expand your reach, connect with new prospects, and spread your brand. The trust their connections have in them gives their referrals some weight. When their referrals get in touch, there will already be a foundation of trust for you to build upon. Of course, one of the most common referral partners is real estate professionals. These can be incredibly valuable partnerships, but there are other options to explore as well. Financial advisors and builders, for example, also make great referral partners.

Current Clients

Your relationship with current clients is not only an investment in the satisfaction of those clients but also in the success of your business. Getting a client to a close is the bare-minimum requirement for loan officers. If you want to impress your clients, thus earning their reviews and referrals, you need to go above and beyond when it comes to the experience you deliver. Every client you work with is a potential voice for your brand down the line. The experience you provide will determine how they represent your brand.

Past Clients

Past clients can be another great source of referrals, but often not without some relationship maintenance. Once clients have closed on their home, moved in, and concluded the homebuying process, their lending experience likely won’t be on their mind. If loan officers want these clients to continue being positive spokespersons for their brand, even years after their working together, some maintenance is key. Loan officers need to build strategies that allow them to stay in touch without overdoing it.

Professional Network

Your network is a powerful resource if you know how to use and strengthen it. These relationships can bring you valuable business and expand your brand. But loan officers can’t just rely on a LinkedIn connection to do the job here. As with all of the relationships mentioned above, these relationships require attention to be fruitful. From being connected with business opportunities to earning referrals, your professional network is a wealth of opportunity if you know how to tap into it.

Relationships are central to success for mortgage professionals. Over the next few weeks, we’ll dive into each of these relationships in more depth, looking at specific strategies that loan officers can use to maximize them. If you’d like to talk more about how relationships support a sustainable business, don’t hesitate to reach out!

Don Riggs

VP – Retail Market Leader

NMLS 132702