Being a loan officer and being in the mortgage business is a long-term venture, and we need to know how to run a successful and sustainable business. When is the best time to pursue new business opportunities? How can we get agents to want to work with us more? When should we scale our business? In this episode, Sean Zalmanoff, Kenneth Travis and Kellen Vaughan share some strategies we can implement in our business today that will help us get more business within a month. They also explain the value of the Next Level Loan Officer Live events for business strategy and growth in the industry.

If you’re too busy with the loans you have going on to invest in yourself and move your business forward, you’re missing the boat. -Sean Zalmanoff

 

Three Things We Learned From This Episode

• The magic window for more business (08:38-10:07)
  The perfect time to set ourselves up for more business is when we get to the point in the contract after we’ve been cleared to close, but haven’t closed yet. This is when we need nothing from the borrowers, title companies, and listing or buyer’s agents for our current deal. If we schedule appointments with these agents and ask our clients for reviews during this period, we can double the amount of business we get. 
  
  
• How to get agents who want to work with us (12:12-13:09)
  We can get more agents who’ll want to work with us by bringing a deal to the table. When we put forward a buyer who’s ready to buy a house, we will get the full attention of that agent for 30 days because they’ll want to answer our calls and get back to us about the deal.
  
  
• Scaling our business when rates are low (18:24-19:15)
  When rates are low and we know that we are going into a time where there are going to be opportunities, we need to recognize that we can’t do it all by ourselves. By making the right hires and using systems and processes that will make us and our team more efficient, we can scale our business and help it be more successful.

The career of a loan officer involves ups and downs mostly according to where rates are sitting at a moment in time, but we still have that magic 30-day window where we have the attention of everyone involved in the transaction. Within this, there is a perfect point at which we need to be pursuing more business opportunities, which is when we are cleared to close but haven’t closed yet. If we get in front of the listing and buying agents for appointments and ask clients for reviews during this time, we stand to double our new business opportunities. When we take the time and make the investment of attending industry events like Next Level Loan Officer Live, we can learn strategies that will lead to a more successful and informed business.