How to Get Leads if You Are a Loan Officer
As a loan officer your goal is to get as many loans in your pipeline as possible. The best way to do this is to generate leads, and the best way to generate leads is through networking.
There is an adage: it's not who you know, it's who knows you. Through diligent networking, you can gather numerous leads that you can work to gain new clients. Each new client brings with him numerous additional client opportunities. The possibilities are endless, if you work the system correctly.
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Instructions
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Write down the name and contact information for all individuals currently in your sphere of influence. This includes your friends, acquaintances, doctors, hair stylists . . . everyone. Make sure all of these individuals have your business card and contact information.
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Join every civic and networking club available to your profession. Your region may have Boards of Realtors, social networking groups, the Rotary, the Exchange Club, and other networking clubs. Go to a meeting of each one and assess which ones will be best for your profession.
Become an active member in the organizations you choose; this is a great way to meet new people and get new leads. Ask each new acquaintance for her contact information and make sure that she receives yours, along with a brief sales pitch.
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Loan officers can receive a variety of leads from different businesses around town. If you are mainly focused on real estate, you should contact local Realtors and real estate attorneys in town. If you're focused on commercial lending, contact new businesses or businesses that are looking to expand. Cold calling, or simply walking into the business soliciting information, is usually the method of introduction in these cases, although a formal introduction through a mutual contact is usually better received.
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Ask each client that crosses your doorstep to refer you other clients. If he is satisfied with your service, he will tell several friends. (On the flip side, if he's not satisfied, he will tell even more people. Treat your clients like you want to be treated and this will not be an issue.)
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Tips & Warnings
Make sure to keep an up-to-date contact list with all new clients. It is helpful to add small details about the person to jog the memory. These details can include a favorite sport, names of children, birth date, or other meaningful personal information.
While it is important to network, as a loan officer you walk a thin line between selling yourself and being a pest. Do not continue to make a sales pitch each time you see a person who is not your client. It is best not to even do a full-fledged sales pitch until the potential client expresses a need that you can fulfill. Simply make sure that each new contact is given your contact information and basic job description and leave it at that.
