9 things loan officers aren't doing.... but should.

Mortgage and Lending with Diamond Residential Mortgage Corporation 031.0016549 NMLS#219299


1. More Social Media!!!! - It’s no secret. This is the age of social media. Potential buyers and clients will check your Facebook page and website to get a good bead on you. Share your successes! Pictures of clients smiling happily at closings. Short tutorials on relevant topics. (how to get your credit score up, short tutorials on the different types of loan programs FHA, USDA, etc.) It’s all good.

2. More customer Reviews!! - No customer reviews on your Facebook page? Why the heck not!???! Look we all know not ever deal goes smoothly. That’s a given. But what about the ones that do? Those clients are your best form of free advertising. Ask them if they would mind writing you a short review. Or… better yet…. whip out your iPhone (or android… i don’t want to discriminate) and have them say a few words about how awesome you are! Remember… Google and other search engines will rank your page higher if you have video. So stop screwing around and get some!

3. 3 New Realtor Calls Per Day!! - Listen. This may sound obvious.. But in my job, I talk to loan officers all day… every day. And I ask them all the time…. How many new realtors do you reach out to every week? The answer is almost always a variation of the phrase…”Uhhhh…. I don’t really.” - WHAT!!??? That’s crazy! Realtors (or brokers now) are your best friends. Your main source of new business. Think about it… If you had 10 solid realtors sending you lets say…. 2 deals per month… That’s 20 deals! Ok… so even if only half of them close. That’s 10 deals per month past what you are already doing! The average loan officer in the US is only closing around 3-5 deals per month. That’s just the facts. So if you are doing 10… You are among the best in the nation. Take an hour out of your day. Go to realtor.com or zillow.com or trulia.com and call some realtors that work your target area. Offer to come to their office and bring donuts or red bulls. Offer to meet them at starbucks. Get in front of them for the love of Pete!!! It won’t take long if you do this. You’ll be surprised at your results!

4. Dress Better! - I can’t stress this enough. People want to work with people that look good. Guys.. I’m not saying you have to have on a suit and tie every day and Ladies… I’m not saying you have to be in a dress or pants suit every day either… BUT… I’m not saying you don’t either. Think about it. When is the last time you saw someone dressed to the 9’s and said…”UGH! Look at how well they are dressed! That’s Terrible!” HELLO!! - You haven’t! If you have on jeans and sneakers with a un tucked button up shirt and go to see a realtor or client… I have news for you. You look like a hack! You don’t have to spend a thousand dollars to dress better. (more for the guys since I can relate.) Hell man… Go get yourself some nice slacks and polos to start. Tuck your shirt in. Iron those pants! Look good, feel good, smell good. The rest will fall into place.

5. Call Your Clients and Realtors More Often!! - I know. Obvious right? But we all know the #1 complaint from realtors and clients about their LO is what? “Lack of communication.” With TRID changes we all know loans are taking a little bit longer to close. That is what it is. But for goodness sake. Call your people and let them know what’s going on with their file. Appraisal come in? Call them up. Get an updated approval? Call them up. Bulls win a close game and your client or realtor is a Bulls fan? Call them up! No one is going to be mad at you for over communicating. I’m not saying call every day and chat like a monkey in a tree…. But jeez… Pick up the phone!

6. Help your realtor grow their business! - You don’t even have to spend money to do this. But it shows the realtor you are interested in helping them as well as yourself. Share your realtors listing on your Facebook/twitter’linkedin page. Help your realtor make a short youtube video. Teach/Show them how to write a blog post. (Hint…. this is a blog post) Go to the realtors open house and bring some nice cookies :-) (I love cookies)… Here’s a tip… THE OTHER LOAN OFFICERS YOUR REALTOR WORKS WITH AREN’T DOING THIS!!… Here’s your opportunity to set yourself apart. If this get’s you 1 extra deal from that agent per month… It was totally worth it!

7. Stop bad-mouthing your competition. - Worst thing you can do! (well, that’s a slight exaggeration)… but you get the point. Have you ever done comparison shopping for…. well anything? Ever had a sales person say.. “OMG.. Whatever you do… don’t go here or there… They’re horrible!”… What did you think about that sales person? Exactly. Look. Unless you’re that rare loan officer that none of his/her clients shop them around… best believe you are going to get compared to other lenders. Assuming the rate is the same or close with you and your competition…. You know who is going to get that deal? The person who the client likes the most. You don’t have to hate on your competition in order to stand out. Show your strengths. Have awesome customer service. Be honest and respectful. Smile more! Talking bad about a competitor makes you look desperate. Don’t do it!

8. Offer some time to teach realtors or the community something for free. - When’s the last time you went to your realtors office and offered to educate them on the new TRID Changes? When’s the last time you went to a local library and set up a free 1st time home buyers seminar? Here’s one…. If you live near a rural community.. When’s the last time you offered to talk to your realtors office about the no money down USDA program? (which the vast majority of originators and agents are clueless about)…You can go to subway. Spend about 50 bucks and get a lot of those mini sandwiches and spend an hour giving a brief overview on any topic and answering questions. Everyone loves a free lunch. Especially Agents! God forbid you may even end up getting a deal or 2 out of it!

9, ASK FOR REFERRALS!!! - You would think everyone did this. You would think it’s second nature. But we all know it isn’t. When you complete a deal for an agent. That’s an opportunity. When you close a purchase or refinance for a borrower. That’s an opportunity. Birds of a feather flock together. Chances are, that borrower knows another couple that wants to or has been talking about getting a home. Maybe they think their credit isn’t good enough. Some people think that 20% down is a requirement to get a home. (We all know that isn’t true.) Maybe the agent has another agent friend that’s having a problem with a deal right now. You never know because you aren’t asking! Remember this phrase. “A closed mouth doesn’t get fed.” The only way you are going to get referrals is to ask for them. Stop being chicken! Ask for that business!



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"Wealth is what you accumulate, not what you spend." 

With Respect; 

William Piotrowski

Mortgage Originator  
Originator License # 031.0016549
N.M.L.S #219299 


582 Oakwood Ave

Lake Forest IL 60045



E.fax (888).845.2691


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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Diana Dahlberg 01/29/2016 11:07 AM
  2. Winston Heverly 03/24/2016 10:07 PM
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9 things loan officers arent doing but should

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Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

These are great suggestions. There are loan officers/mortgage brokers I would never recommend - they don't seem to realize that treating realtors poorly, not answering questions, missing deadlines, etc. does not help their future business. On the other hand, the mortgage professionals who are responsive, knowledgeable, etc get recommended all the time.

Jan 28, 2016 07:53 PM #10
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH

Great points made, especially the last one!!! Thanks 

When you complete a deal for an agent. That’s an opportunity. When you close a purchase or refinance for a borrower. That’s an opportunity!!!

Jan 28, 2016 08:18 PM #11
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

William: A great list that has applicability to all disciplines in our profession. Congrats on the well deserved feature.

Jan 28, 2016 09:10 PM #12
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Bottle this and send out free samples. You will be selling cases soon enough

Jan 28, 2016 11:51 PM #13
David Alan Baker Laveen & South Phoenix Realtor
Keller Williams Realty Phoenix - Laveen, AZ
Your local Expert

Great post.  Really a business plan to success I'm sure.  Follow it, and loans will come.

Jan 29, 2016 12:54 AM #15
David Alan Baker Laveen & South Phoenix Realtor
Keller Williams Realty Phoenix - Laveen, AZ
Your local Expert

Like Corinne says above, sometimes we are just not interested.  I have 3/4 lenders I've used for some good time.  Yet, it is like calling expired's, not all will work, but it is a numbers game.

Jan 29, 2016 12:56 AM #16
Laura Filip
Laura Filip Broker , Opening doors for All Seasons of Life - Whitesboro, TX
What can we do for you today?

Thank you for sharing your thoughts. Hmmmm a loan officer helping a real estate agent grow thier business. Hmmm great ideal will reach out to a few and get thier thoughts on this topic. 

Jan 29, 2016 01:09 AM #17
Barbara Birinyi
Quitman, TX
TX Real Estate Broker - Horse Property Specialist

Nice to see a listing of what loan officers should be thinking/doing.  Thanks for the lender perspective.

Jan 29, 2016 04:20 AM #18
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

If only I had more time or a clone to do all the things on my yellow pad list :) 

Jan 29, 2016 05:41 AM #19
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Hmmm, these are things a Realtor® does every day, lenders aren't?

Jan 29, 2016 08:20 AM #20
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

What a fabulous list!  I just might have to share this with some of my Local Lenders!  I can see why you were Featured!  Congratulations.  @William Piotrowski ... we should have a cup of coffee sometime and see if we can do some business together!

Jan 29, 2016 10:54 AM #21
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

William Piotrowski These are very good tips for loan officers should do.

Jan 29, 2016 12:52 PM #22
Craig Cooper
Chase International Real Estate - Tahoe City, CA
Creating-Preserving-Growing Wealth in Real Estate

Thanks William, I had to do a double take to remind myself who the list was meant for. It's a great list and probably works on both sides of our industry, real estate broker and mortgage broker. 

The one thing I have had trouble with recently and expect more of is trouble with TRID. In fairness the trouble has been with big bank lenders in the past few months and the trouble amounts to their loan officers either not knowing how long the loans are going to take or not being up front with their borrowers who tell their realtors they can close in 30 days, 45 days and more.

I'm sure we'll learn to live with it!

Jan 29, 2016 06:14 PM #23
Anna Hatridge
R Gilliam Real Estate LLC - Farmington, MO
Missouri Realtor with R Gilliam Real Estate LLC

Great list!  We all can benefit by being more professional acting in our business. We depend upon each other for our success.

Jan 30, 2016 12:12 AM #24
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Great list! I would advise caution in reaching out to agents, however.

When I was a broker we had a few lenders who would come to our office and generally make pests of themselves. 

When you have work to do, the last thing you want is someone coming in to chat and get acquainted. I recall one such lender who was making the rounds of all the desks in the office and chatting with everyone. It was an open office, so she was dominating the room. I was working on something - a CMA as I recall - and she marched over to my desk and said "And who is THIS who is ignoring me?" I told her it was someone with work to do, then went back to ignoring her. 

Jan 30, 2016 03:08 PM #25
Greg Mona
eXp Realty - Scottsdale, AZ
Professional Real Estate Representation for YOU!

I really enjoyed reading your post William Piotrowski !  It all sounds like common sense, yet it is a very rare LO that employs all 9 of your suggestions into their daily business.  That is not meant to be criticism at all!  Heck, a similar list could be applied to Realtors/Brokers too.  I must say number 5 resonated with me the most.  I can't tell you how many times my clients ask me what's going on with their loan becasue they've (like me) heard nothing from their LO.  A simple weekly status update and a call/text/email message of milestones being met is suffficient.  Thankfully most of the folks we work with are very good about following up.  Keep these great posts coming!

Jan 30, 2016 10:25 PM #26
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

My lender partners are all doing number 6.  I will not work with a bad lender, not matter how much business they send me.  On the other hand a bad lender is not going to have business to send.  By helping me build my business it is more than direct referals.  It is co marketing and branding.  Keeping me updated on loan programs to share with clients and prospects. 

Feb 01, 2016 01:58 AM #27
David Fox
Progressive Lending Solutions - Saint Paul, MN
Mortgage Loan Consultant

Great post WP! As a Mortgage Broker, this list is a must! I especially like the comment about helping Realtors grow their business, which is exactly what I try to do. For some, this is a foreign concept, but one that needs to be talked about and encouraged even more. Since the mortgage industry is ever changing by the hour, its smart to have plenty of financing options, especially those that are willing to help you grow your business.    To Diana Dahlberg , if you are willing to have a discussion about how I could help you grow your business, I would love to explore some options with you. I am licensed in Minnesota and Wisconsin and love helping others from these beautiful communities.

Feb 01, 2016 05:02 AM #28
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

Thanks for the great post. This works for everyone. I don't know about getting 10 loans and closing only on 5, that's only 50%! But I get the point. I don't bring donuts Red Bull and Subways, but instead bring my wife's homemade x-mas cookies. Yes, I still call the x-mas cookies, but you can call them holiday cookies if you feel better! 

Feb 01, 2016 07:36 AM #29
Eren Millam
Realty World Cosser & Associates, Inc. - Chehalis, WA
Certified Negotiation Expert

There's a few lenders in my area that do a few of these things. It would be nice to get some shares on Facebook though! Loyalty will win you a lot of business.

Mar 02, 2016 02:30 AM #31
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