Want to be more efficient?
Efficiency means you’re achieving MAXIMUM productivity with MINIMUM wasted effort, energy or expense.
Vehicles that get the most miles per gallon are fuel efficient.
Bags that hold the most stuff while taking up as little space as possible are space efficient.
Tools and technology that can get the job done better than without it are work efficient.
As a Mortgage loan officers if you want to be more efficient than your peers, be at the top, produce the most and, most likely, make the most money then there are things you’re going to want to outsource.
Unless you’re not working with a company that has a supportive team environment (which is probably not the best company to work with) to be MOST efficient, you’ll want to explore leveraging resources available to you.
That means delegating tasks to those that can do the task better and faster than you can so you can focus on other areas like, maybe, closing more deals, perhaps.
Want to be more effective?
To be more effective means you’re successful in producing a desired or intended end result.
Hammers are effective at banging nails into wood.
Knives are effective at cutting stuff.
A nagging spouse…. Not so effective (see how this works?).
If you want to be more effective use the right tools you have available to you to get the job done, which also means making use of those whose jobs it is to do the one thing that although, you could do, why would you when they’re literally paid to do that one thing for you?
When you’re efficient and effective, you’re doing things the smart way.
You’ll see better results in less time and you’ll grow your business so much faster.
Want to grow your business and close as many loans as fast as possible?
Want to get the loans processed as quickly as possible?
Now, with that being said, I want you to understand, there are definitely things you DON’T want to outsource because they’re things that only you do best.
Like a well-healed assembly line or the perfect machine, there are components that do one specific thing and only that thing, however, they each work together inter-connectedly to reach the desired end output.
Figuring out what you should and shouldn’t outsource will help you do so much more than you could by yourself.
Here are my suggestions on what you should outsource and what you should not:
Do Outsource: Doc Collection
Hopefully, you work with a company that has someone on staff who does nothing but make sure all the documents that are needed to be submitted, are submitted to get your loan funded.
If that person is available to you, use them.
They’re more effective and efficient at this particular task; they’re less likely to miss something because they have less stuff to focus on than you, otherwise, would.
Get that task off your plate.
Don’t Outsource: The Intake Of The Loan Application
Now, to be clear, I don’t mean don’t have the prospect fill out the 1003 online, what I mean is don’t delegate THIS part of the process to anyone or anything.
Don’t have someone else take your prospect through this critical process.
Part of your job as a mortgage officer is building rapport, trust, confidence, and deference to you as a service professional.
The diagnostic aspect of this process is the perfect place to make this all happen.
This is where you get to discover important details about your prospect, uncover issues, and advise on ways to move forward.
It’s this one critical point in the process where the expert positioning and authority perception magic shines.
Why would you want to risk missing the opportunity?
Do Outsource: Initial Lead Contact
As a generally accepted rule of thumb, initial internet leads convert at about 3% on average when you’re dealing with a decent lead source that has qualified targeted leads.
What that means is if you generate 100 leads a month, about 3 of them will even be worthy of a conversation.
Like panning for gold, the time it takes to sort and sift to find the value could be better spent hiring helpers to do this part for you because it’s so time-consuming and doesn’t really require a lot of specialized knowledge to perform the task. Or, of course, you can leverage technology to help you with this as well.
Don’t Outsource: Converting Leads To Applications
When you actually find someone worth talking to this is when you should step in and do what you’re trained to do best and that’s closing deals.
This way you spend less time switching modes, which means you get to stay in the zone, stay focused, and less scattered, which, ultimately, will allow you to have better results, overall.
Do Outsource: Email Management
As loan officers, the role you play in your organization means you get bombarded by internal communication that’s non stop.
I mean, even in trivial things you might well consider nonsense. It doesn’t matter, you’re getting cc’d, your Inbox is getting flooded.
A small fraction, maybe like 10% of those messages actually require you to take any meaningful action or response, right?
Why waste your brain space on this?
If you can, I’d recommend outsourcing this.
Don’t Outsource: Agent Communications
Don’t forget, we generate our own leads to empower ourselves, to unlock immense value potential for yourself, and to increase your indispensable utility to an organization.
That doesn’t mean we do this so we don’t have to work with agents.
We’re doing this so that our relationships with agents are strengthened and made more valuable on a 2-way open line of communication basis.
The goal is facilitating communication not adding more bureaucracy to it.
Do Outsource: Social Media Content Creation
Curating and creating content is something you can and should have someone else help you with because, generally, the likelihood is there are people that can convey your message quicker, faster, and clearer than you might be able to, especially if you’re not good at written content.
While you most certainly can be the one to inform what they write as in prompting them and giving them ideas on what to write about because, after all, this is your brand, your voice, your identity you want people to associate with you, so what has produced matters, but, as long as the message is cohesive, and the readers hears your voice in their head as they read…
Let the writers write for you.
Don’t Outsource: Social Media Prospecting
Now, when prospects start interacting with your posts, when they start reaching out or inquiring about something they read and you see that, I’d recommend you be the one to exchange with them in the personal message box.
Again, closing is what you do, right?
That interaction is a potential opportunity to close.
You take it, don’t leave that to the help.
With that, thanks for reading and I’ll see you at the top.
P.S. Want me to help you set up your own simple predictable profitable lead generation system?
Just click this link, book your live demo, and let’s set one up for you, today.