Loan Officer Sales Training 5/01/24: How to Close More Loans as a Loan Officer

In this dynamic episode of "Loan Officer Sales Training," we dive deep into the art and science of closing more loans in the competitive mortgage industry. Join our host, an experienced loan officer and sales guru, as they unravel the key strategies and techniques essential for increasing your loan closing rate.

Explore proven methods for building rapport with clients, understanding their needs, and effectively guiding them through the loan process.

From mastering the art of persuasive communication to leveraging technology to streamline the closing process, this episode provides actionable insights to help you achieve greater success as a loan officer. Learn how to effectively address client concerns, navigate complex financial situations, and ultimately, close more deals.

Whether you're a seasoned professional or just starting out in the mortgage industry, "Closing More Loans: Strategies for Loan Officers" offers invaluable advice to help you achieve your goals and propel your career forward. Tune in and unlock the secrets to becoming a top-performing loan officer in today's competitive market.

For more episodes visit:
https://themortgagecalculator.com/Page/Loan-Officer-Sales-Training-Podcast

About The Mortgage Calculator:

The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as over 5,000 Non-QM mortgage loan programs using alternative income documentation! 

Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!

Our team of over 350 licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mortgages, P&L Mortgages, Asset Based Mortgage Programs, No Ratio CDFI Loan Programs, DSCR Investor Mortgages, Commercial Mortgages, Fix and Flip Mortgages and thousands more!

Our Mortgage Loan Originators are trained to be l

The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as thousands of Non-QM mortgage loan program variations using alternative income documentation!

Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!

Our team of licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mortgages...

Transcript

Restream recording May 01, 2024 • 04:01:10 PM: 0:00

So welcome everyone. My name is Kyle Hiersche. I'm the COO of the mortgage calculator, and this is our loan officer sales training that we do at 12 PM Eastern. Every weekday where we go through the front end and the sales end of mortgages today, we're going to be talking about something very general, some general concepts. And again, I'm going to keep this quick how to close more loans, right now, lucky for you, there is going to be some revolutionary information in this presentation that will change The game for you. I'm going to show you a way to 1000%, a hundred thousand percent for sure. Close more loans if you do this, right? So let me go ahead and. Take the chat off the screen here and we will get into it. So how to close more loans as a loan officer. That's what we all want to know, right? Especially in these times we got to get that business picking back up. No rate cut for today, obviously, but maybe the next meeting. So we'll, we'll all hope for the best, right? But in the meantime, we can't let that affect us. There's still loans to do. There's still loans being done. And we can get out there and close them. So how, for those of us who are still in the business and still taking it serious how do we close more loans? Well, again, here's some revolutionary info in here and the next slide that will absolutely 1000 percent work. I guarantee it. So how do we close more loans? There it is. Mind blower. Revolutionary. How to close more loans. Make more calls. That's it. Make more calls. Make more initial calls. Make more follow up calls. Right? Every kind of call. Make more calls. That's it. It's that simple. I guarantee you personal guarantee here that it will 1000 percent work to close more loans. You want to close more loans, make more calls. If you don't make more calls, you're not going to close more loans. So that's another way to put it, right? Maybe you should switch it to that, right? If I don't make more calls, there's no humanly way possible for me to close more loans. It's impossible. It's impossible. You can't close loans without making calls, right? So that's it. Don't make more calls. Don't close more loans. So all of you out there that want to get things going, close more loans, make more money. This is 1000%. It's a fact. If you don't make more calls, you won't close more loans. And it's a fact that if you make more calls, you'll close more loans. So stop. So many loan officers try to fight These facts. It's a fact. It's not going to change just because you want it to just because you think you should be able to close loans by just texting people or just by like meeting some people or that people should just come to you and you shouldn't have to call leads all day. Stop trying to fight the way that the universe works. It just works like this. We don't know why. Stop trying to study it. Stop trying to change it. And just use it to your advantage. We talk about the law of averages, use it to your advantage. Who knows why we only get one out of 10. It doesn't matter. You could study why that happens for the rest of your life. So one of my favorite motivational speakers, Jim Rohn calls that study. Studying the roots instead of picking the fruit, right? You could study the roots all day. I don't get it. Why only one out of 10, it doesn't make sense. This is such a good deal. I'm going to spend all my time figuring out why it's just one out of 10. Don't worry about it. Just pick the fruit. You know, it's one out of 10. So call a hundred and get 10. Right. So you know, stop trying to change it or study it or, or fight it or go against the grain. I'm telling you right now, you could be the best salesperson in the world. If you don't make more calls, you won't close more loans and you're not going to close more loans without making more calls. You're not going to change the way the world works. That's just how it works. When you set up your own world, you can set it up the way you want to set it up. But in this world, this is how it's set up, right? There's just, there's no way around it. So that is the number one, first and foremost way to close more loans is make calls. Now, part two, how to close more loans, build relationships with realtors. So this is number two. Of course, this is going to equal more calls because you're going to be calling these realtors. So it's all relative as well, right? But build relationships with more realtors. Those are the two ways to close more loans in this business. That's how this business works. Again, you set up your own business someday, your own industry. You can figure it out however you want, but in this business, in this industry, in this world, the two ways to close more loans is to make more calls, aka call more leads. And build relationships with more realtors. Cause where do deals come from? Where do loans come from? They come from calling leads. Or referrals from realtors. That's it. Those are the two places deals come from. There's no other random place where deals come from. Right. And of course, when I'm talking about make more calls, I'm including your sphere. So you may think, Oh, well, what about people I know and stuff? Yeah. You got to call them. Right. So that's it. It's so simple. Let's break it down here. Let's not complicate things too much and think that you need some kind of crazy stuff to close more loans, just make more calls and build relationships with more realtors, which especially here, we give you the opportunity to use the auto dialer to call thousands. of Realtors. You can call hundreds of Realtors every single day at the mortgage calculator in the auto dialer. So that can also go towards making more calls. But again, events, meeting the Realtors in person, going and reaching out to your Realtor partners. Of course, we have whole trainings on this, but going to the NAR website, finding Realtors that specialize in what you're interested in that are in your area, connecting with them as a referral partner to send them business. They sent you business, all that kind of good stuff. Right? That those are all the things that we need to do. And so that's literally it. How to close more loans, make more calls, build more relationships with realtors. There's a lot of nitty gritty in between that and you could, you know, worry yourself about that. But at the end of the day, let's simplify it. Top level. How do we close more loans? We just make more calls and we deal with more realtors. Those are the only two things that are actually going to create business. All the other stuff is how do we approach it? What's the best way to do it? All this kind of different stuff. But at the end of the day, if you want to know, am I making progress? Am I going to be closing more loans? What do I actually need to be doing? Let's cut out all the fluff, all the other stuff, what you need to be doing. The only two things you need to be doing to close more loans Are making more calls and building relationships with more realtors. Now there's a million ways to get there, how to do it and how we stay motivated to do it and our mindset and doing it and all that kind of stuff. That's what all the other trainings are for. But if you ever just want to stop and say, am I working towards closing more loans? Am I working towards money in my pocket? And if the answer is not, yes, I'm making more calls. And I'm building more relationships with more realtors, then you're not on the right track to actually get those results. So after the funny slides there again, just make more calls, build more relationships with realtors, and then of course, promote yourself. Online, right? Social media. We have all the trainings on that. Make sure you're out there. Now, remember when we say promote yourself online, I'm also talking about the branding and marketing trainings that we've had. If you haven't seen those, go back and watch those, right? Where to make sure that while you're making all these calls and building all these relationships with realtors, you want your online presence out there working for you too. And you want to make sure when the realtor Googles you and says, Oh, this, This loan officer just called me today. Let me see if they're legit. They said that they, I can send them my, you know, self employed borrowers to get pre qualified. Let me see if they're legit. What are they going to do? Take two seconds to Google you. And if nothing comes up or only one thing comes up or things come up with profiles with no pictures, Then you just wasted all of your time making the calls and building on the relationship with the realtor because nothing came out of it because you didn't do the groundwork. So if you haven't done, remember every single one of you, if you're watching this and you have not gone and set up all your free loan officer profiles. That's a huge problem. If you're at the mortgage calculator and you've been here for more than a couple months and you haven't set up all of your free loan officer profiles that we have multiple trainings on, we have it in the knowledge center. There's a list of the sites in the knowledge center and and instructions. If you haven't done that, get out of the business right now. I hate being discouraging, but if you haven't. Set up all your profiles, let every single person in your sphere know what's going on. You haven't even started. You're not even in this business. Just stop now. Save yourself the headache because this is one of the hardest industries in the world. One of the best industries, one of the best paying industries in the world, but one of the hardest industries in the world. And if you can't even Set up, take 20 minutes to set up all of your profiles and upload your pictures to your again, all the profiles we talked about, all the social media and your, the free profiles on Zillow and LendingTree and all these different places that we talk about, if you haven't done that, just reevaluate it, either get out of the business or do it. Because if you can't even accomplish taking 20 minutes to set up free profiles, you're not meant for this business, period. So, you know, that's it. If you haven't done it, do it. If not stop, I'm telling you right now, you should stop quit the business. You're not meant for this. You're not cut out for this. Can't even spend 20 minutes setting up some free profiles because. I don't want to give you leads. And again, this is to those at the mortgage calculator. I don't want to give you leads. If when I give you a lead, they Google you and you don't have all this set up, right? That's absolute waste of money on my part. So I'm not going to waste money on you. If you can't even do for yourself, what needs to be done. So make sure to go do that, promote yourself online and on social media. And the very least that starts with setting it all up. So please anybody watching this, if you have not set up all of your free loan officer profiles, go to the knowledge center, type in free loan officer profiles. Go set them all up, make sure you have a nice headshot. The picture should be the same. The branding should be the same. The link to your website should be the same. You know, we have multiple trainings on that. And then another way to close more loans. You're just being an educated and prepared loan officer consultant. I mean, that's what we talk about all day, every day here at the mortgage calculator. So again, while you're making more calls and building relationships with more realtors. it's going to actually be effective if you're being an educated and prepared consultant. So this all goes together here and right after making more calls and building relationships with more realtors is asking for referrals. If you want to close more loans, ask for more referrals from people you've done business with, people you haven't done business with, people in your sphere, That's it. I mean, those are the three ways to get businesses, make calls, talk to realtors and get referrals from people that you already know or have already dealt with. Like, that's it. That's what this whole thing boils down to. There's a lot of in betweens, little stuff, different ways you can do it and approach it. But at the end of the day, if you're saying I got to make sales, I got to close loans. There's only three things that you can actually do to make that happen, which is, you Get on the phone and make more calls. Talk to more realtors. Maybe that's getting on the phone. Maybe that's talking to them in real life, going to events, going to the NAR website, whatever it may be, and then asking for more referrals. There's only three actionable items that you can actually do to generate money in your pocket. So anybody on here, especially the full time loan officers, I know it's been a tough year, so I know we all need to generate money. In our pockets, right? Because it's been a tough year for those full time loan officers out there trying to get by. And one of the most difficult years in mortgages and a long time. And so if that's you, especially make sure you've done all these steps, put all your profiles together, put all your social media together, laid the groundwork, and then just know there's only three things that you can do. So it's really a no brainer. The first slide is everything. The only thing that you should really be focused on is making more calls. It's not going to happen any other way. It's not going to happen by osmosis. It's just not, it's just, there's just one way to do it. So again, if you're not a call person, you don't want to make calls. Unless you know, a lot of realtors in person and deal with a lot of people in person and have enough business in person to last you you know, this business isn't going to be for you. Cause it's going to take making a lot of phone calls. Again, some people might have a giant network themselves and they only call the people in their network. But. And they're not reaching out to leads, but the reality for most of us is that we should be reaching out to hundreds of leads per day, which at the mortgage calculator, we have for you every single day. Every single one of you has thousands of calls you can do that's in your auto dialer. Already. So want to close more loans? Start by making more calls. All right. Again, wanted to keep it quick here today. Real general. Remember we do this 12 p. m. Eastern time every weekday where we go through the front end of the mortgage business. So we'll be back tomorrow with a new topic. I appreciate everybody tuning in. We'll see you tomorrow, 12 p. m. Eastern for the next episode of the loan officer sales training.