{"id":1270,"date":"2007-04-05T22:08:00","date_gmt":"2007-04-06T05:08:00","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1270"},"modified":"2007-04-05T22:08:00","modified_gmt":"2007-04-06T05:08:00","slug":"loan-officers-dont-just-sit-there","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1270\/loan-officers-dont-just-sit-there\/","title":{"rendered":"Loan Officers – Don’t Just Sit There!"},"content":{"rendered":"

Russell Shaw’s<\/a> great post “I want a LOT of money — would you tell me how to get it?<\/a>” got me thinking about loan officers who constantly ask me about how they can make “a lot of money,” especially in a tough mortgage market. They lament the current market situation, tell me that people are scared to refinance, that underwriting guidelines are more difficult, that property values are falling. They complain that these factors are squeezing their customer base and making it harder to win business. “What can I do? It’s soooo hard out there right now” is a common refrain I hear constantly. I keep looking for a way to disable the “repeat button.” After having this talk ad nauseum<\/em> I’ve found that I can ask 6 questions to help loan officers refocus on capturing success. Those 6 questions tend to generate between 4 and 5 AHA!s per person. This realization is rather scary to me as many of these loan officers achieved high levels of success during the “boom” years. It makes me want to ask “How much more could you have made back then if you were actually trying?”<\/p>\n

Today I’ll cover questions 1 & 2, and then get to the other three in my next post.
\n<\/strong>
\nThe first question<\/strong> is somewhat rhetorical; “How hard are you working; and, how smart is the work you’re doing?” That usually gives the inquiring loan officer pause. They look at me like a deer in the headlights, frozen by the realization that they’ve been working half-speed for as long as they can remember, stammer a bit, and then finally go quiet. Sometimes you see a little light bulb go on over their heads. That light bulb is the first step in an important process. Question one is my warning shot, to let them know that I have no time for their pity parties and that if they want advice they are going to get it — served cold.<\/p>\n

I have found that the average loan officer spends too much time placing responsibility for their success on external factors instead of taking the responsibility to Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Russell Shaw’s great post “I want a LOT of money — would you tell me how to get it?” got me thinking about loan officers who constantly ask me about how they can make “a lot of money,” especially in a tough mortgage market. They lament the current market situation, tell me that people are […]<\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,5],"tags":[],"class_list":{"0":"post-1270","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-marketing","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1277,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1277\/the-new-bait-and-switch\/","url_meta":{"origin":1270,"position":0},"title":"The New Bait and Switch","author":"Morgan Brown","date":"April 9, 2007","format":false,"excerpt":"The term \"bait and switch\" is a favorite amongst consumers when dealing with mortgages. It's a refrain heard every day in our industry. Somehow uttering this term gives consumers personal strength and a sense of confidence. \"I'm not going to fall for any 'bait and switch'\" is a chant designed\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1258,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1258\/making-a-case-for-national-mortgage-lending-standards\/","url_meta":{"origin":1270,"position":1},"title":"Making A Case For National Mortgage Lending Standards","author":"Dan Green","date":"April 3, 2007","format":false,"excerpt":"I live in Illinois and hang my mortgage license in Illinois. The licensing process was not simple. I have family in Ohio and want to be actively licensed to lend in Ohio. The licensing process is even harder. I have spent more than 100 hours (yes, I've clocked it) trying\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9331,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9331\/is-activerain-selling-loan-officers-an-exlusive-opportunity-or-just-selling-their-real-estate-agents-out\/","url_meta":{"origin":1270,"position":2},"title":"Is ActiveRain Selling Loan Officers An Exclusive Opportunity, Or Just Selling Their Real Estate Agents Out?","author":"Mark Madsen","date":"July 29, 2009","format":false,"excerpt":"I've received a few emails and calls from my loan officers this week about some new exclusive opportunity that Activerain.com is pitching to the mortgage industry. Apparently, Active Rain is cold calling mortgage professionals who have an AR blogging history and offering them an \"extremely rare opportunity\" to pay $299\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"active_rain_making_money_off_the_backs_of_loan_officers_by_using_agents_as_a_carrot","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2009\/07\/active_rain_making_money_off_the_backs_of_loan_officers_by_using_agents_as_a_carrot.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8771,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8771\/why-real-estate-agents-should-stop-playing-loan-officer\/","url_meta":{"origin":1270,"position":3},"title":"Why Real Estate Agents Should Stop Playing Loan Officer","author":"Mark Madsen","date":"June 6, 2009","format":false,"excerpt":"I wasted a few hours this week cleaning up the messes that real estate agents created for their first time home-buyers. 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