You didn’t get to be where you are today by being a mediocre loan officer. No, your success is a combination of several factors that not only include strong production but also your management skills, ability to communicate well and product knowledge.
If you’ve recently been promoted to Sales Manager and you’re now looking at your list of loan officers you’ll work with, we thought we could provide you with some tips that can help you more easily transition into your role.
1: Have a Plan Plan your work and work your plan, right? But now, your plan includes everyone else’s plans, too. Know in advance what is expected of you and find ways to exceed those expectations. Managing your own production while mentoring and managing other loan officers can be a bit overwhelming at first but if you have a roadmap to begin with, your job will be a lot easier.
2: Have a Profile Meeting. If you’re in an office with say 10 other loan officers and were once in those ranks, you can bet there just might be some tension with one or two of those loan officers who were passed over for your job. Or, if you’ve transferred from another mortgage company entirely, your production crew will want to know all about you and your experience in the industry.
Don’t have just a weekly production meeting, meet your loan officers one-on-one and get to know them personally. Let them know you’re there to help them reach their goals, not pounding on their desk wanting more production out of them.
3: Play to Their Strengths. Successful sales people eventually craft their own path, their own style. A major mistake new sales managers make is forcing your way of getting loans onto someone else. For instance, if you’ve built your production from Financial Planners, don’t force this concept on someone else unless they’re open to it.
Play to their strengths and not try to put a new origination method on their plates. If they call on real estate agents, find out how to increase that business. If they work their past database and meet up regularly with local referral functions, attend them as well and see how you can help expand that level of business, not change it entirely.
4: Be Humble. Keep your pride to yourself. Bragging about the loans you saved from perilous disaster or how many loans you’ve closed, be humble instead. You may find some of the more competitive loan officers ask about past volume just to gauge their production against yours. If you feel comfortable answering, go ahead. But whatever you do, don’t brag.
5: Have an Open, Reasonable Door. Your loan officers should always be able to knock on your door to talk about a deal or need some help with a new client. Let them know your door is always open to them, just knock. But keep it reasonable.
Too many interruptions in your schedule will throw you off your business plan. If you can’t meet with someone right away, say, “I can’t meet with your right now and give you my undivided attention, can we meet again at 3:00?”
6: Be Positive. This might sound a bit too obvious but make sure during any meeting, whether in groups or individually, your message is positive. If production is down, the loan officers are very well aware of it, too. If someone is having a bad month, more negativity will only make things worse.
And finally, don’t admonish someone in front of others but praise accomplishments when others are around.