Loan Officer Training: 5 Secrets to Career-Long Growth

By XINNIX | August 1, 2022 | Mortgage

When Olympic weightlifters reach a goal on the bench press, do they say, “Well, now that I’ve done that, I never have to go back to the gym again. I am the strongest I’ve ever been, and I’ll stay this way for the rest of my life without any effort?” Obviously not. They go back to the gym the next day and keep working.

Training, accountability and coaching aren’t meant to be implemented for a season. They are part of a system of growth that should be continued throughout your fruitful selling career. As a loan officer, you should never stop striving to progress. Read on for all five secrets to successful loan officer training.

5 Loan Officer Training Tips

1. Keep Expanding Your Network

To perform in this industry, you need a vast network of individuals who know they can rely on you for their business needs. You can continuously build relationships with prospects and maintain the client relationships you already have, so that opportunity is going to knock on your door.

Building and maintaining connections can also open doors in the future that would have otherwise been closed. Don’t be afraid of online networking and utilizing networking platforms like LinkedIn to further your reputation as a communicative loan officer.

Regardless of if you’re in the early stages of loan officer training or if you’ve been in the business for years, having a strong network can help you get referrals, recommendations and more.   

2. Never Stop Learning

To keep up with the competition, you need to keep up with the industry. You can do this by continuing to always learn throughout your career. 

Try talking to top sales performers and soak in their advice. A loan officer training program can go a long way to upping your skills. Some training programs can not only teach you tips and tricks, but they can also help you to reevaluate your goals and aspirations.

Learning from others is valuable, but don’t forget to brush up on your specific market. Learn what you’re selling so you can anticipate your clients’ concerns and be there ready with an answer. You’ll feel more confident knowing that your knowledge and skill sets are growing as fast as your sales.

However, learning should not be sales-exclusive. Consider utilizing podcasts, webinars and online courses to help shape your mindset and attitude so that you can tackle the challenges of work and life, no matter what comes your way.

Access our toolkit, "4 Key Factors For Sourcing Experienced Loan Officers" with  tips for a mortgage leader's formula for success. Get it here >>

3. Use Social Media to Your Advantage

Networking used to mean going to office parties and making sure your community knew who you were. While that may still get your name out there, social media has changed the game. Now, you can connect with a much wider audience without leaving your home. “Social selling” — using your profile on a social media site — can help you reach potential clients by coming across as available and ready to serve. 

HubSpot suggests that you “find online forums specific to your industry or area of expertise and maintain an active presence on them.” You can do this by offering value in the form of informative blogs, posts and even a YouTube video… or three. Not only can you gain more exposure this way, but you’re also establishing yourself as an authority within the industry.

4. Communicate

Loan officer training should be ongoing, and so too should your communication with your clients. Maxwell states that if you’re “educating borrowers on the criteria for mortgage approval and the finances needed, you’ll help set prospective customers up for success.” Educating and helping your clients every step of the way can only be done with clear and consistent communication.

We’ve all been there. We need help — like with a clogged toilet or broken appliance — but when we call the company, no one picks up the phone. Even if we’ve used that company before, we may be tempted to try another one just so we can get what needs to be done… done. 

To retain a loyal customer base, consider stepping up your email communications game and always follow up with your prospects and repeat customers. When possible, personalize your communications so your client is reminded that they are working with someone who sees them as more than just a dollar sign.

5. Honesty Is Still the Best Policy 

A salesy persona spewing out false promises just doesn’t work. If you need proof, check out your unread emails in your spam folder; we all have them and we all ignore them. 

Not only is honesty the best policy, it should also be your only policy. As a caring, unique individual, being honest with your clients feels good because it’s the right thing to do. Plus, you’ll gain respect (and dare we say renown) if you always set realistic expectations, remain transparent and establish trust each and every day. 

Building a Successful Career Is Every Loan Officer’s Goal

If you or your team of loan officers are struggling with sales performance goals, it’s important to remember that there is light at the end of the tunnel. However, you have to get through the hard times by putting in the work. Loan officer training can be much more than learning the latest market trends. With a real program, loan officers can feel empowered both professionally and personally.

Want more tips on how to become a top producer? Watch the Strategies of Top Producers webinar.

4 Key Factors for Sourcing Experienced Loan Officers