The Two Types of LO
Early on as a Loan Officer, I noticed that there seemed to be two very different types of Loan Officers. Years later and after millions and millions of income and tens of millions in loans written I’ve come to the conclusion that it still holds true to this day. The two kinds of loan officers or mortgage brokers I see include:
- Loan officers that delegate tasks well and have dialed systems in place to close loans.
- Loan officers that struggle to delegate or trust anyone with anything. They have few systems in place and “try” to do everything themselves. They refuse to relinquish any part of their business to anyone.
Here’s what this means for you and your business…
- Loan Officer #1 spends his time working ON his business.
- Loan Officer #2 spends his time working IN his business.
I saw that doing everything myself and resenting systems meant that I would be glued to my computer always “working.”
And if there was one thing I knew about myself, it’s that I knew I didn’t want to always be glued to my desk “working.”
So I became obsessed with becoming LO #1. As soon as I started making money in lending, I reinvested it into systemizing my operations and figuring out how to streamline as much as I could:
- I templated every email I regularly sent,
- I input every single person into my CRM with detailed notes,
- I hired an Assistant and read books on leadership,
- I learned about every piece of mortgage technology in existence,
- I learned how to develop a meaningful personal brand and figured out how to communicate it through the internet…
Then I got a Virtual Assistant to help with all of it.
I realized that this is what most Loan Officers need help with: Systemizing, delegating and automating the basic tasks of the mortgage business.
Several years ago I met a Loan Officer that helped me with a lot of this and my life was completely changed.
I went from closing a few loans / month, working 12 hour days to working a few hours a day, closing a few million $ in loans / month.
A lot of LOs want to sit behind a desk all day and do everything themselves.
If that’s you, cool, have fun.
But that’s not me.
If you’d like to learn how I converted my own business, and help other mortgage brokers and loan officers absolutely TRANSFORM their business through my Mortgage Broker Consulting & Loan Officer consulting programs. Contact me/contact/.
