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Getting leads as loan officer

Good Afternoon Everyone,
I just recently became a loan officer, and it has been 7 months since I started.
I started working as a junior processor for about 3 years now and wanted to get something more out of life than just sitting in front of computer all day, but it is not easy trying to get leads.
I focus on farming realtors, but they just don't seem to open the door on me.
I am so excited to share what I can provide for the realtors and confident that I will be working my butt off to satisfy the costumers, but I just can't get the chance.
Maybe because I am too young? but I don't think that matters because I am willing to work extra miles so that I won't be looked down upon...
I just need advices from all of you...
I am desperate. If someone just gives me a chance...
  • July 08 2014 - Buena Park
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Answers (8)

The simple answer is to keep plugging away. 

Brand yourself in the best manner that represents you and stick to it. 

Sell yourself- not your employer. 

Pick up the phone, make relationships. 

sit outside open houses if you need too...Just get your face out in your community. start up conversations. 

Even joining something as simple as weekly bowling league can generate business....HEY WHAT IS YOUR INTEREST RATE?
  • January 14
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Profile picture for aracz
Hi,

Please feel free to give me a call, and I can offer a few ideas.

Kind regards,

Arpad
  • January 05
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Profile picture for thayernagib
I sell mortgage leads. [deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines][ Dave
  • January 04
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Well I hope you were able to get leads.  If not, I'd suggest instead of mass mailers to agents maybe try to offer a service that most agents can use; marketing.  Offer to print and cobrand open house flyers, provide sign-in sheets, etc.  Maybe also offer to provide them some leads as well.
  • December 18 2014
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If you're having trouble getting leads and referrals from agents, tap your own network (friends, family, family of friends, sports teams, etc) to get a few applications going.  If you get someone pre-approved and they don't have an agent yet - offer to get them hooked up with an agent that services the area they are looking to purchase in.  That will give you a great in with the agent you send them to (who you obviously have researched and want to do business with).  

Another option is buying trigger leads that have had their credit pulled for a mortgage inquiry, but does not have any current mortgage debt (NEW HOME BUYER).  Preapprove them and follow the above. :)

Good luck and hang in!

Chad
  • December 18 2014
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Profile picture for LincolnMason
Try someone networking with a Financial Advisor or Wealth Management Advisor. Those professionals meet with high net worth individuals that often are looking to purchase, refinance debt for themselves or a business(s) they may own. Lots of opportunities there. Low hanging fruit, especially if the bank you work for has an Investment or Trust division.

This is coming from a young professional in his mid-20s that has seen this formula work for banks that have small to medium sized assets.
  • November 28 2014
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You can offer to do open house on the behalf of agents. You can also share advertising cost, mailing fees to get your name out there. You got to give out a lot to attract realtors attention.

Today there are almost no refin and only new purchaser needing a loan.

I think you should hold on to a loan processing as a second job.

Sam Shueh
KW Realty-Cupertino, CA
  • July 13 2014
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Profile picture for Hannah Tai Homes
There are many loan officers out there (as are there realtors!), and we often like to work with someone we've built a relationship with and whom we trust.
The mortgage people I usually refer the most are good and timely communicators, ethical and realistic time managers, and who know their work. Communication is extremely important because in this fast-paced market, my clients need you at a moment's notice. The ones I can't get ahold of on the weekends don't get my referrals, because being available helps us work together as a team to get our clients into a home.

Like all professions, building up a clientele takes time and diligence, and the ability to shake off rejection. I would continue to do what you're doing, and try to meet face to face with some other professionals in our field to tell us what you have to offer our clients. Ask if you can come in and make a short presentation at an office meeting (keep it short, we're often busy and appreciate your information shared in a concise manner). If you are earnest, hard-working and good at what you do, then the business will grow. It's just a matter of time and hanging in there!
  • July 08 2014
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