Communication & Relationship Building for Mortgage Loan Officers – Part 2: How to Maintain Great Relationships with Current Clients

Author: Ed Davis, Mortgage Education Instructor

Very often, people in a sales role will claim, a good salesperson can sell anything, and the follow-up to this is usually something along the lines of “sales is sales,” or “a closer closes.”

And there is truth that some are more naturally gifted with the art and science of influence.

But here’s something I also know…The skill in selling someone once, pales in comparison to the ability it takes to build the relationships necessary for a “customer for life” model. You have to earn repeat business. You have earn the right to ask for referrals.

Like we said in part 1 of this series, building your business as a mortgage loan originator is about playing the long game; and a very important piece of that is working to create clients who rave about your business. Your SUPER FANS.

There are a few easy areas of focus that can make a world of difference with your current clients to help you sow the seeds of a great relationship:

  • Create clear expectations
    • The first step (again) in any relationship is clear communication and walking your clients through an indoctrination phase. Let them know when, how, and why they should expect to hear from you after their loan closes.
    • Ask them about their communication preferences and let them know your service to their needs isn’t transactional. Let them know if there is any way you can be of service, they shouldn’t hesitate to call.
  • Nurture, nurture, nurture
    • Now that they’ve told you how they prefer to keep in touch, follow through. Email newsletters for homeowners, birthday cards, articles of interest that lead to “this made me think of you,” emails are always great touchpoints.
    • Mark your calendar for some milestone moments for your clients’ loans. For example:
      • Call them a week before their first payment is due and double-check that they received their statement properly and ask whether they have any questions you can help with.
      • Send an invitation to schedule an annual mortgage check-up.
    • Call them if/when there is housing news that people are talking about and ask if they have questions or concerns.
  • Ask and deliver
    • With each of these nurture opportunities, always close with an invitation for anyone they know who could use your help. Let them know how much you appreciate them by offering to serve those closest to them with the same attention you’ve given them.
    • Make sure when working with your referral clients, you sow the same seeds as before, from the start. Build the expectation that your job is to make them so happy, that they’ll refer friends and family, just as they were referred. (and ask them right then and there who they know that could use your help)

One of the most underappreciated sources of business is your own database!

If you plant the seeds early and tend to the soil, your current clients make for vine-ripened fruit.

Follow these three simple steps and (again) build this into a repeatable process for every customer. Consistency wins, and remember this is about the long game, so as always, practice your patience.

Ed Davis

Ed Davis possesses two of the most sought-after qualities in a mortgage education instructor – solid mortgage background and extensive training experience. With more than 15 years in the mortgage industry, Ed’s experience includes many years of origination, branch and sales management, and a focus on broader financial planning strategies. These positions put Ed in an ideal situation to prepare new mortgage professionals for successful careers and to inform experienced mortgage professionals of new and changing legislation and developments.

By |2019-10-16T13:47:49-06:00October 16th, 2019|Categories: Business, Resources|0 Comments