Saturday, April 6, 2013

Looking For A Mortgage Recruiter? 5 Reasons to DIY!

If you’re in the mortgage business the recent upswing in housing sales is welcome news. Every month, per the Google search word tool about 600 companies search for a mortgage recruiter. Per the job site, there are 4260 jobs posted for loan officers. shows 28,804 posts for loan officers; CareerBuilder, 1361, and Monster, 1000. As an Executive Recruiter who has worked in the mortgage industry for over 20 years, I can tell you there are not enough recruiters  to fill the need for loan officers.

What’s the solution? If you’re a branch manager or executive in the mortgage industry and your company is in an aggressive expansion mode, seek out recruiter training. Recruiting is a skill you'll use throughout your career, no matter your position.

The fact is the fastest way to increase the number of loans your office closes each month is to attract top talent again and again. Every loan officer hired who can close 1.5 – 3 million a month will continue to increase their loan volume as the market improves.

Here are 5 reasons to seek out recruiter training from a top mortgage recruiter.

 1.     DIY recruiting saves you time and money. Why spend 6k – 15k or more per hire? You’re in the ideal position to gather names of loan officers with good reputations in your local market. You can approach them using the same techniques top headhunters use. You'll know how to gain trust, establish rapport, qualify, dismiss a candidate respectfully if needed, or move the process forward. This know-how is invaluable. Why pay a recruiter 100k a year when you can DIY with some high level training?

 2.      Choose to recruit and hire one loan officer a month or each quarter. Control your destiny and create a name for yourself in your local market as the man or woman who makes things happen.

 3.     Eliminate the frustration of ‘going without’. There’s no need to be at the mercy of an outside recruiter’s schedule or an in-house recruiter who has dozens or hundreds of offices demanding loan officers. Every recruiter you speak with has multiple clients clamoring for loan officers.

 4.     When you know how to recruit, you’ll avoid activities that waste your precious time. You’ll qualify potential candidates in less than ten minutes and select only a few to interview thoroughly.

 5.     You’ll know not to extend offers unless you’re sure the offer will be accepted. This protects your brand and raises your credibility in the community as a leader who hires the best producers. Loan officers gossip and free, positive PR is valuable.

When you know how to recruit, you can plant seeds in the minds of up-and-coming stars. When the time is right you’ll be equipped to close the deal and hire yet another top producer. Recruiting does not happen by accident. There’s a process and proven methods to generate results quickly.

Recruiting should be a priority for production managers at every level. Why delegate this important task to someone else? While it’s smart to share the tasks involved in the recruiting process, knowing how to systematically attract and hire the talent you want will place you light years ahead of the competition.

We live in a world of specialists. There’s value in working with a recruiting coach. They can quickly help you improve your technique. Those who make recruiting a priority will win big as a new generation of loan officers get licensed and established in the mortgage industry. We all benefit from professional training so consider learning the principles of recruiting.

Surprises surface regularly during the recruitment process and cause confusion. Don’t re-invent the wheel. Work with a recruiting coach for immediate feedback and strategy. Recruiting cannot be learned in one sitting. Cultivate a relationship with a recruiter and pay them by the hour for advice, if they don't have a formal program.

The magic of a great process is these techniques transfer to every kind of negotiation. When a transaction comes together beautifully, there’s an elegance to be appreciated. When everyone walks away happy, there’s satisfaction in knowing you’re the one at the center who made the deal happen. Recruiting is a skill that delivers one of the highest ROI you’ll ever experience.

by Kimberly Schenk, Headhunter, Recruiting Coach, Trainer, and Author

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