Many loan professionals make the mistake of constantly chasing the next client while losing the opportunity to deliver an outstanding customer experience to a current one. What do winners in this industry focus on? Why should we put all of our resources into delivering an outstanding customer experience? 

On this episode Andrew Soss, one of the highest producing loan originators in the country, shares his tactics on what helps his business grow.

 

Three Things We Learned From This Episode

Profitability beats units

We often make the mistake of looking at units instead of looking at profitability. The truth is, we can have many clients and still be unprofitable.

 

How to decide the kind of business you want

When the loan value is higher, the competition is bigger but so is the income. We must decide from the beginning what kind of clients we want to serve. We also have to look at what worked best for us so far and how the location where we live influences our income.

 

Why quality should come before quantity as we grow in business

In the beginning, it’s best for us to go with more units because of the contacts we need in the future. As we get more experienced, we should shift towards higher margins. Fewer loans with a higher margin gives us more freedom and time to work on our current clients and deliver an outstanding customer experience.

 

The most inexpensive and efficient source of income is our database. However, no amount of follow-up can erase a bad experience, so we need to walk the extra mile for our clients and make the process as pain-free as possible. This way, we have a better chance of them coming back to us when they need a loan. The most efficient tactic to getting referrals and repeat clients is delivering an outstanding customer experience.

Guest Bio-

Andrew Soss is the branch manager of The Soss Mortgage Team in California and one of the best mortgage professionals in the country. He provides the vision and drive to the team and is responsible for ensuring that the clients have an amazing experience. With 15+ years in the residential finance industry, Andrew has seen it all. He has numerous mortgage related accolades, including being named one of the top 40 Under 40 by Mortgage Professional Magazine being ranked the 48th highest producing loan originator nationally and #3 in Orange County. Go to http://www.andrewsoss.com/team  for more information or connect with him on LinkedIn at https://www.linkedin.com/in/andrewsoss/