I try to tell loan officers constantly that increasing their loan closings is not nearly as difficult as they might think. Even doubling closings or their pipeline is well within reach if they just do a few simple things. Rather than me making an attempt to convince you of what works and what does not work, let's hear it from a loan officer in Hammond, Louisiana, a small community still rebuilding after the effects of Katrina. Only a few months ago, Rick Sedberry, a loan officer with seven years experience and employed by American Mortgage Resources was closing around $500,000 per month and wanted to do much more to reach the goals he had for his business and his life.
Rick and I started from a very simple premise: focus on the client, not products and services! "Ken, when you told me to stop focusing on rates and programs and start focusing on the prospects, I took it to heart! Many Realtors even looked surprised when I avoided this subject! I told each Realtor that I wanted to focus on that person's business and ways I could help them be more successful. On most of my sales calls, I did very little talking and simply listened!" If it sounds too simple, that is because it is simple. In fact, Rick said, "I guess I have been following the K.I.S.S. system of just asking questions and Keeping It Simple! One great thing is when the Realtor does all the talking, you don't shoot yourself in the foot by saying something that the Realtor could care less about."
The proof is in the results. How has the system worked for Rick? "Ken, my pipeline has grown to 11.4 million! In only a few months, my December closing was over 1.5 million, April is looking like 2.5 million and it just keeps getting better!" Rick will have the largest closing of his career this month! The new volume levels have required Rick to make some business changes but with great results. "I had to let go of my files and trust my processor. Since I have done this, things are operating more smoothly than ever! We meet on Fridays to review the pipeline and she sends out a weekly status report to the Realtor and borrower. I have had more time than ever to do what's most important: be in front of my clients!"
Rick related two great stories, all a reflection of his new approach to the business. "A few weeks ago, I got a call from a Realtor. She was calling to say she wanted to work with me! This is the first time in my seven-year career that a Realtor was asking me to do business! She had heard about the job I did for my clients and how differently I approached the business. I was at a Chamber of Commerce meeting last week that was being held at one of the top real estate offices. I had not intended to stay long, but the Realtors kept wanting to talk! I smiled as I drove away thinking how well things were working! I am really enjoying the business again!"
Congratulations Rick! You are living proof that in this tough market you can dramatically grow your business and have fun doing it! Rick said the most successful sales calls are when he says nothing and the prospect does all of the selling for him based on the questioning skills he uses. I have supplied Rick with a lot of value-added ideas, but the greatest value he has given to his clients is not rates, or products and not even ideas. It is Rick Sedberry!