How to Become a Successful Loan Officer

Loan officers often work on a commission-based salary. A successful loan officer must be very educated in her field of expertise in order to be able to close more deals. For example, a commercial loan officer should know everything she can about the commercial loan business. She may unknowingly turn away a customer, not knowing an alternative way to close the deal. A successful loan officer also must have customer service skills and a personality that will help her retain customers, gain referrals and get repeat business.

Things You'll Need

• Thank-you cards Business cards Postcards

Instructions

1. Hand out at least 10 business cards a day. Business cards are great, affordable ways to get your name out and direct potential clients to call you. Strike up conversations with those people you meet and give them a card. Another great place to put business cards are on bulletin boards at libraries, laundromats, post offices and other community boards. Give current customers a few extra cards and encourage them to pass them out to their friends.

2. Send personalized thank-you cards to every customer. These are more powerful if you sign each card personally and write a note specific to them. Thanking customers for their business and referrals is a small gesture but will not go unnoticed.

3. Take all of the continuing education classes you find that are offered in your field. Classes can be taken online, or at local business and colleges. Read everything you can get your hands on. Education is power--and the more you have, the more successful you can become.

4. Create a birthday list. Put all customers' birthdays into a database. Every month, review the upcoming month's birthdays and get birthday cards ready to mail. This will generally surprise your customers and make them feel appreciated and remembered. This will go a long way in gaining repeat business and referrals, as your name will stay in their minds. Many people claim they don't call the same loan officer in the future because they can't remember who he was or how to contact him. Keep your name foremost in your customers' minds.

5. Mail postcards at the change of seasons to current and past clients. Many direct mailing companies offer great postcard choices. Favorites tend to be recipe cards, reminder cards of events such as turning back the clock for Daylight Saving Time, and sports schedules. This is an inexpensive way to keep your name out there. If you don't have enough current and past clients, call a title company to get a mailing list of a particular area.

6. Host a customer appreciation event every year. Invite all current and past clients and customers. This can be done well if an office works together and all loan officers participate. If you have a large enough client base, you may want to put on your own. Host a pumpkin festival in October or an Easter egg hunt in March. These events will offer families something to do and will keep you networking with the public.

Tips & Warnings

• Stay organized in your networking efforts in order to make the most of them. Keep a log of what you have done when, and what has been effective.