Connections - Part I. Relocating clients

Welcome to my 3-part series:   CONNECT YOUR WAY TO MORE APPLICATIONS

I've often seen this scenario:  Two loan officers work in the same geographical area, have comparable rates, programs and fees, are similar in experience and knowledge and yet they have vastly different production and income. 

What makes one highly successful and the other closing just enough to get by?  Both spend time and money marketing themselves, staying current on programs and attending seminars.  I don't want to over-simplify this, but I truly feel the connection you make with potential borrowers are often the key factor when they have to make a decision between two or more originators. 

Over the next week, I will give you some tips on connecting.  Learn to do this and you will find more loans filling your pipeline.

Part I - Relocating clients.  We live in a highly mobile society with a fairly strong job market which, luckily, will continue to fuel our industry.  But the fact is that most relocating clients talk to multiple lenders; their previous lender that says they can lend in any state, other recommendations from their Realtor or the loan officer they found surfing the Internet.  What can you do to compete?

• Make the initial experience over-the-top positive.  If it is in person, offer first class treatment when they come in.  Refreshments, something for kids to do if they are along, a clean, well organized reception and personal office area.  If it is over the phone, be as positive and upbeat as possible.  Take immediate action to get the information you discuss to them in more than one way.  Fax, email, snail mail.  It's not over doing it.. it's being efficient.
• Be prepared.  Try to find out as much as you can before the initial appointment and then have possible numbers ready to show them.  Yes - things may go in a different direction, buy you will come across as confident and prepared.
• Be flexible.  If they are in town for a short time, be considerate of that and offer to meet on their schedule.  Show empathy for their situation.  Finding a house in a new area can be stressful, especially if they only have a day or two.

Most importantly...

• Look for opportunities to connect on a deeper level.  Through initial phone conversations, find out interests, concerns or other important information.  Then, look for ways solve a problem, address a need or help them feel more comfortable with the relocation.  For example, if you discover they are avid golfers, email or mail them information on local golf courses.  If they have children involved in a sport or other activity, forward them details on local leagues or specific contacts for that activity. 

Showing concern, empathy and dedication is paramount to making a connection.  It may take some creative thinking, a bit more time and effort; but the results will speak for themselves.