You are currently viewing Why Loan Officers Need to Network

Why Loan Officers Need to Network

  • Post author:

If you’ve been building your client base for years, it’s easy to start neglecting your networking efforts. You might not see the importance in growing your network if you’re getting enough business from referrals and marketing. But having an always-growing network is about more than just connecting with prospective clients (though that’s still a great reason). For mortgage professionals who want to stay engaged in their work and connected to the industry, networking is a must. Here are a few reasons why loan officers need to continue building their networks:

You’ll Learn New Things

The more like-minded professionals you connect and engage with, the more you will learn. It could come in the form of new strategies, a shift in perspective, or just general industry information that you can glean. Connecting with others is a proven way to build your overall knowledge. Ask more questions and really listen to the answers (more on the importance of listening, here). It keeps your mind actively involved in, and inspired by, your work. New connections to interact with help us avoid stagnancy.

You’ll Expand Your Brand and Reputation

If the goal is expanding your reach through your brand and your reputation, networking is an invaluable resource. And even if you feel like you can’t take on any more business at the moment, it never hurts to broaden your reach. Networking reinforces your brand — it shows that you align with what your online presence says about you. These days, it’s easy to place all of our focus on our online presence, and when we do that, we sometimes forget the importance of an in-person presence, too. If we’re the face of our business, then we need to give it an actual face and not just a virtual one.

You’ll Make Real Connections

Networking is an opportunity to meet real people face-to-face. Not just new connections, but also the people we already know. It could be prospective clients or other professionals. And whether we’re just meeting them for the first time, or we already know them, networking allows us to develop and strengthen relationships in ways that digital interaction never will. Interacting with these connections, in person, allows us to build trust around our name and business within the community. Not only will you be more recognizable, but others will begin to develop new levels of confidence in your business.

You’ll Collaborate More

Finally, networking provides new opportunities for collaboration. Whether it’s referral partners, colleagues, mentors, or mentees — you’re not going to find these same opportunities if you stay shut inside your office. When we put ourselves out there and invest in building our networks, we’re considerably more likely to make fruitful connections that will contribute to our long-term stability and success.

Networking more doesn’t need to be unpleasant, start slowly and add something new to the schedule each month. Then, when you see the benefit of networking more, add something new every 2 weeks, and so on.

If you’d like to talk more about the importance of networking, or if there’s another matter I can be of assistance with, don’t hesitate to reach out. I’m always happy to block off some time to connect.

Also, if you’re considering a move, we have some terrific opportunities for loan officers, sales managers, and branch managers that I’d love to discuss with you.

Don Riggs

VP – Retail Market Leader

NMLS 132702