Loan Officer Recruiting - Fast Track To Dominating local Markets

If you’re the CEO or VP of Production of a medium size mortgage company, defined as 200 – 2500 employees, the recent rebound in the housing market is prime time for beginning your next growth spurt. As an Executive Recruiter and trainer it’s been wonderful to watch many companies chip away market share from the Big Banks. Recruiting loan officers now will accelerate your momentum.

The industry changes over the past five years were overdue. Prudent, financially solid mortgage operations have been gathering steam and re-shaping the mortgage landscape. Some companies have added in-house recruiters to their roster; also a smart move. As a rule in-house recruiters tend to be over burdened with search requests from all factions of the company.

Take your company to the next level by training all branch managers to recruit. Most mid-size mortgage companies expect team leaders and managers to recruit but how many actually know how to recruit? As business picks up, sure you’re going to close more loans because you’ve worked hard to put all the pieces in place to handle the influx of loans. What’s your strategy to continue on the same trajectory?

Don’t stop growing. Take this opportunity to side-step inertia and grow exponentially. A handful of your competitors are arming their front lines with the same tools the best headhunters use. Those managers will recruit more efficiently and effectively with recruiting principles in hand. For a small investment in recruitment training, your production goals will all be exceeded.

As a recruiter, today if I picked up the phone and left messages with five branch managers, three would call me back. We’d talk about their goals and company culture and I’d accept two search assignments. There are not enough good recruiters in the market to fill the need for loan officers. Put your company's future in the hands of 'recruiters' (branch managers) who are emotionally and financially invested in your success.

Recruiting training will have your branches avoiding common mistakes and hiring loan officers every quarter or every month. For example, most managers are oriented to the bottom line (one of the reasons I love them as clients). Their direct style and urge to state the highlights of a company immediately when ‘pitching’ an offer to a candidate is a strategy that most often fails. What’s the best way to engage a candidate? You need to know.

What would happen if you proposed marriage on the first date? A healthy person would turn you down. Good recruiters use sound principles to attract, engage, build a little rapport, and establish some trust all within their first phone call. They withhold their strongest, best company tidbits until the candidate is emotionally and mentally ready to buy the information that will close the deal.

Recruiting takes practice, but one can be successful during the first recruiting call IF they know the process and what to say and what to do in the proper order. While candidates typically react in a handful of predictable ways, how a recruiter manages the process is crucial to not wasting precious time thwarting their own efforts.

Find a recruiting mentor for your all your branches (pick me, pick me) and whip your new-hire strategy into shape within twelve months. Recruiting looks easy but it can be brutal. What does not recruiting cost your company? If there were a simple solution (training) would you be interested in buying it?

Ask yourself: What’s the biggest challenge and frustration surrounding complacency of branch managers when it comes to recruiting? Is the answer a lack of recruiting skills? Loan officer recruiting  is the path to rapid expansion. This investment will pay dividends for a lifetime. The best way to meet all your production and market growth goals is to empower local markets to capitalize on recruiting loan officers they hear about every day.

***A no-fluff, step-by-step recruiter training program on how to recruit loan officers will take your mortgage production to the next level within 12 months. Kimberly Schenk has recruited in the mortgage industry for 20 years. She’s recruited in multiple industries and has been training recruiters and business people for 10 years. Schenk cares about your success and over 1100 professionals have benefited from her programs.

Mortgage Recruiting: Ready to Think Big and Increase Profits? by Kimberly Schenk

The most prevalent model in the mortgage branch system has managers originating while managing an office. Recruiting talented loan officers is the fastest route to sustained monthly growth. We’ve all watched medium size mortgage companies open new branches as a way to expand their territories quickly. Why not grab more of your local market share with the same strategy?

It’s time to think bigger. Capitalize on your expertise and start transferring your knowledge to a new generation of loan officers who are getting trained and licensed. Recruiting is a sales position. As a mortgage pro you sell Realtors on using your service. You sell yourself to customers as a knowledgeable professional they can trust. You sell everyone on your company.

Recruiting is a defined process. With training you can recruit the talent you want, when you want, to make your office a powerhouse loan operation.

Adding 3 loan officers to your staff who each close 1.5 million a month obviously adds 4.5 million to your production each month. How hard would you have to work to close an extra 4.5 million by yourself? Work smarter and expend less energy. Now consider the numbers if you consistently recruit and add 6 loan officers to your team in the next twelve months, and another six the year after.

Recruiting takes practice and know-how. Using the best tactics will protect and bolster your brand. The best recruiters use a system to qualify and dismiss less than desirable candidates. They only extend offers when they know a candidate will accept. They know how to dismantle counter-offers made by an existing employer. Success lies in being prepared and managing the process.

How can you manage a process you don’t know? Recruiting looks easy but can be brutal. There are proven methods and strategies to attract and hire the strongest and most dedicated originators. Have you considered how much money you can save in headhunting fees if you systematically were able to recruit and hire the candidates you want?

In-house recruiters have multiple offices clamoring for candidates. They can only do so much. Why put your livelihood in the hands of distant recruiters? Why delegate this key responsibility when you’re in front of a faucet of candidates? When you have a recruiting method, adding loan officers is like picking flowers from the garden. Recruiting is mysterious only when you don’t know how.

Branch managers come across names of the competition every day. They’re in the prime position to gather those names and initiate harmless conversations. By understanding how to recruit effectively. You're having conversations anyway; Make them count. A seasoned manager will recruit 30 – 40 – 50 loan offices for their operation in 24 - 36 months. Those guys (women included) are killing the competition, and growing their paycheck.

Would you like one office to add over 100 million dollars in closed loan production or more to your bottom line this year? The mystery of recruiting evaporates once the principles are mastered. A few tweaks to your existing techniques may be all that’s needed. Of all the routines one can choose to master, recruiting has the potential to improve your life in a profound way.

We’re all people with goals and personal motivators. Learn to recruit. Save yourself time, money, and aggravation from ineffective recruiting attempts. Stop looking at recruiting as an extra chore. Embrace the possibilities and ride your career to the moon!

NOTE: A no-fluff, step-by-step training program on how to recruit loan officers will take your production to the next level within 12 months. We stand ready to place this process in your hands. Kimberly Schenk has recruited in the mortgage industry for 20 years. She’s recruited in multiple industries (engineering, legal, insurance, financial )and has been training recruiters and business people for 10 years. Schenk cares about your success and over 1100 professionals have benefited from her programs.
visit: Magic of Recruiting

Mortgage Recruiting and the 80/20 Rule by Kimberly Schenk

 As a mortgage branch manager, if you spend 20% of your time recruiting loan officers, those new hires will deliver 80% of your new revenue growth. What other strategy generates ongoing benefits for your operation that’s equal to adding solid producing loan officers?

The catch of course is one must learn how to recruit effectively in order for the 80/20 rule to apply. It’s no fun to spend time on recruiting calls only to be shutdown by candidates. Ask yourself, “What are your biggest challenges and frustrations when it comes to recruiting?

•  What are your hiring goals for the next 12 months?
•  How will accomplish those goals?
•  If you could have any question answered about recruiting, what would ask?
•  How much would it be worth to you to achieve your stated goals?

The simple fact is most branch managers have never learned fundamental recruiting principles. Recruiting looks easy but it’s not. The proper tools and techniques will ensure your recruiting efforts are profoundly more enjoyable and effective. (FYI - many professional recruiters have never been trained well either.)

How can one expect to double or triple hires without the proper tools? Placing ads online or in publications is costly. Ads reach about 15% of the population. When one knows how to recruit they  access 100% of the market. The most available person (those looking at want ads) may not be the best candidate for the position. Target passive (employed) candidates for optimal results.

The answer to questions surrounding how to increase closed loan volume, and grab local market share is to improve your effectiveness as a recruiter. If you have 2 hours a week to dedicate to recruiting, and the right process you can expect to add a new loan officer to your staff every 4 - 6 weeks, realistically.

According to surveys, about 50% of the population would change jobs today if the right opportunity presented itself. We are emotional beings and emotions play a big part in recruiting. When employees are frustrated with poor management, or a miserable corporate culture they'll change companies. If an ambitious loan officer feels limited, they're open to change. There are valid and numerous motivations to change employers. 

Follow a sound recruiting method and drip information to qualified candidates at the proper time. There are questions to ask to gauge a candidate’s mindset. All too often inexperienced recruiters give away pieces of golden information about their opportunity long before a candidate is prepared to ‘buy’ that information.

When one takes the time to ask a candidate about their situation and concerns surrounding their present employer, they gain an understanding of the candidate’s needs. If your opportunity can address those needs with a solution, the candidate is likely to listen to your opportunity.

While this sounds like common sense, it takes skill to handle the varied conversations that arise during the recruiting process. Understanding the recruiting process and acquiring necessary techniques will have you sailing through the process on your terms.

End your recruiting frustrations with a method and the techniques needed to attract and hire top talent. The principles mastered will serve you throughout your career. Mortgage recruiting is the same as recruiting for any position in any industry. The ability to recruit is like having a magic wand. Get busy!

by Kimberly Schenk, Principal of Right Recruiter Training

www.MagicofRecruiting.com

www.TopRecruiterSecrets.com/Recruiter_coaching.html

     
         
       
   

Creative Signs - not related to recruiting : )

Sometimes we need to take a break from all the hustle and bustle and smile. Hope you enjoy these signs...someone sent it to me to share with you.

Creative Signs

In a Podiatrist’s office:

“Time wounds all heels.”

On a Septic Tank Truck:

“Yesterday’s Meals on Wheels”

At an Optometrist’s office:

“If you don’t see what you’re looking for, you’ve come to the right place.”

On a Plumber’s truck:

“We repair what your husband fixed.”

On another Plumber’s Truck:

“Don’t sleep with a drip. Call your Plumber.”

At a Tire Shop in Milwaukee:

“Invite us to your next blowout.”

At a towing company:

We don’t charge an arm and a leg. We want tows.”

Sign over a Gynecologist’s office:

Dr. Jones, at your cervix.”

On a Maternity room door”

“Push, Push, Push”

At a car dealership:

“The best way to get back on your feet – miss a car payment.”

Outside a muffler shop:

“No appointment necessary: we hear you coming.”

At a Veterinarian’s waiting room:

“Back in 5 minutes. Sit! Stay!

At an Electric Company:

“We would be delighted if you send in your payment.

However if you don’t, you will be.”

In the front yard of a Funeral Home:

“Drive carefully. We’ll wait.”

At a propane Filling station:

“Thank Heaven for little grills.”

Last but not least….

Sign on the back of another septic tank truck:

“Caution: This truck is full of Political Promises.”