What Every Loan Officer Needs to do and the Importance of Edification

Let’s cut to the chase shall we?

Loan Officers need to build their purchase business.

To do that Loan Officers need to go to real estate offices and make presentations to the realtors in the office. Have good info, be engaging, and bring donuts.

To do that Loan Officers have to do the hard work of developing relationships with real estate agents so eventually  when you offer or better yet, ask to do a presentation to the agents in that office it feels natural for them to say yes.

Simple right? easier typed then done.

Let me tell you about Joshua Tomeoni, Sr Mortgage Planner with Mortgage Freedom Financial Services. www.MortgageFreedomCo.com

Joshua Tomeoni has done the hard work of developing relationships with realtors and it is paying off for him. If you are a Loan Officer you would do well to emulate Joshua.

Joshua does interesting presentations,he has good info, he is engaging and  he brings good donuts.

I know this because Joshua is one of my clients and he recently invited me to go with him to one of his real estate offices and  present with him to the real estate agents in that office.

Like I said, you would do well to emulate Joshua.

It is smart to do the work of developing relationships so that you can get into a reale state office to do a presentation.

It is even smarter to bring an good AE to present with you.

The reason in one word is “edification”.

You cannot effectively edify yourself. ( I know I have tried!) However someone who thinks well of you can edify you.

Edification  is a important effectiveness tool that you may not know about.  I first learned about years ago from my friend and mentor Al.

Here is how dictionary.com defines “edification” –

1.an act of edifying. 2. the state of being edified; uplift.

When you edify someone you build them up. you speak well of them and you tell the truth… You see – when you embellish or when you try to edify people who do not deserve it, you are not edifying, you are BSing and people can generally tell. Don’t do that.

The reason that it is a good idea to bring an AE with to help you make a presentation to realtors is that a quality AE ( I know. I know,sometimes hard to find – remember I was in retail for 4 years) who has done business with you, can edify you to your clients. (Assuming of course that you are the kind of Loan Officer who an AE can edify without having to lie or embellish).

I have to tell you it is really powerful when someone authentically edifies you.

I was able to edify Joshua to his potential clients because I have done done business with him based on real life experience I know that he is a true professional, who does a good job for his borrowers, has a great processor, and he really cares for his clients.

So if you are Loan Officer do the hard work of developing relationships with real estate agents so eventually  when you offer or better yet, ask to do a presentation to the agents in that office it feels natural for them to say yes.

Then go and make presentations to the realtors in the office. Have good info, be engaging, and bring donuts.

And bring along a good AE who can authentically edify you.

I know – if you are a Loan Officer working for a “Bank”, odds are you do not do business with AE’s so that option does not work for you. Well.. you two choices – you could join us in the broker world, or take someone else with you to your presentations..someone  like maybe your processor.

You could edify each other and talk about how you both work as a team to help your clients.

If you are the kind of Loan Officer that a processor would never edify, Please quit the mortgage business ASAP. There are still too many of your kind around.

Steven

My other mortgage related blog posts are:

stevenshomler.com Great Advice for First Tine Home Buyers

stevenshomler.com How to Find a Good Loan Officer

I have been a mortgage professional working in the mortgage business for over 7 years, I have worked about 4 years as a retail Loan Officer (working for  both a bank and a mortgage broker) and I am in my fourth year working as an wholesale Account Executive (AE) for a nationwide wholesale mortgage lender. In 2009 I closed 998 loans.

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0 Responses to What Every Loan Officer Needs to do and the Importance of Edification

  1. Steven, thank you so much for that truly edifying post! Your words were extremely kind and I truly appreciate them, I feel very honored!!

  2. arlene luczak says:

    Yes, I agree with Steven, I have known Joshua Tomeoni for over 7 years. He is a young man with exceptional integrity and intelligence. He consistently is reading and researching the market for the best loans for his clients. He wants to make sure his clients and friends are well taken care of now and in their future. He does not take anything for granted. I am honored to know him.

  3. It is so true that (authentically) developing relationships is key! I just read John C. Maxwell’s book “Winning with People”. I recommend it as a great read for anyone that goes out to meet clients, network, etc. Keep up the great posts!

  4. James Fetty says:

    This is good info, thanks steve!!

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