I really enjoy getting emails from loan officers and thought I would post a bit of advice I gave to one discouraged originator (haven't we ALL been discouraged at one time or another... perhaps even more so the last 2 years) And for those of you that have been asking about my summer in Alaska, I've posted a few more photos below. Enjoy!
The question:
"I have been in the business for about 4 years right now and with 2 different companies. I don't get much marketing help from my company, and not sure what I should be doing to drive business in. The result of that is I often spend my day spinning my wheels and even more often, feeling discouraged. I make a few phone calls to Realtors, read lots of stuff online about the market and products, maybe send out a few letters or cards. Obviously this isn't enough, as my pipeline demonstrates. Can you give me some specific tips on HOW to spend my day?"
My answer:
Thanks for your email... you've already taken a great step in asking for help! Many loan officers are just giving up. The discouragement is too much and they feel like they can't get their momentum going. I do have some advice, though it might be difficult for you to break out of your current habits. Take baby steps and pick one thing at a time to work on until it becomes habit and a part of your business on a consistent basis.
- Planning time. Start each day (or like me, spend a few minutes the night before) planning your day. Marketing tasks should be actual appointments scheduled in your day (called time blocking)
- Set up a daily, weekly, monthly, quarterly and yearly list of marketing tasks that you want to be working on. Set a time each month to reevaluate this list.
- Make MORE phone calls to referral partners (not just Realtors) each day and go to lunch at least once a week. Drop by a Realtor office at least 2 times each week. Take some info or snack with you. Be personable and visible. This works! (though it may be hard to do if you aren't comfortable with your Realtors - do it anyways)
- Work on your database. Should be made up of past clients, friends and family and referral partners. Send them something once a month. (or more)
- Get involved. Realtor association, chamber of commerce, local organizations, etc. The more people that know who you are and what you do will increase your sphere of influence and your phone will ring more. Be friendly and remember to follow up once you meet someone. Email, quick note in the mail, invite to lunch.
- Limit how much you read online. It's important to stay informed about rates and products and to keep motivated with new marketing ideas, but I think it is too easy to hide behind a computer and not get your job done.
Hopefully that isn't too much nagging... but just enough advice to get you on your way. Good luck and let me know how things go for you over the next few months.
Here are a few more pictures... we have another week in Alaska and then two weeks to work our way back to good 'ol Texas.
Gorgeous views on one of our hikes.
My kids (cheerfully) going on another hike. Yes, I do bribe them with donuts.
Blueberries. Blueberry pancakes, muffins, oatmeal. Blueberries and angel food cake. Blueberries and anything!
Gorgeous day at the beach. 65 degrees outside. Freezing inside the water. Yes my kids do go in the water... all the way. No, I don't.
Ziplining in the forest. Great fun... even if I did scream like a girl on my first zip.
