Loan Officer Sales Training 5/01/24: How to Close More Loans as a Loan Officer

In this dynamic episode of "Loan Officer Sales Training," we dive deep into the art and science of closing more loans in the competitive mortgage industry. Join our host, an experienced loan officer and sales guru, as they unravel the key strategies and techniques essential for increasing your loan closing rate.

Explore proven methods for building rapport with clients, understanding their needs, and effectively guiding them through the loan process.

From mastering the art of persuasive communication to leveraging technology to streamline the closing process, this episode provides actionable insights to help you achieve greater success as a loan officer. Learn how to effectively address client concerns, navigate complex financial situations, and ultimately, close more deals.

Whether you're a seasoned professional or just starting out in the mortgage industry, "Closing More Loans: Strategies for Loan Officers" offers invaluable advice to help you achieve your goals and propel your career forward. Tune in and unlock the secrets to becoming a top-performing loan officer in today's competitive market.

For more episodes visit:
https://themortgagecalculator.com/Page/Loan-Officer-Sales-Training-Podcast

About The Mortgage Calculator:

The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as over 5,000 Non-QM mortgage loan programs using alternative income documentation! 

Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!

Our team of over 350 licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mortgages, P&L Mortgages, Asset Based Mortgage Programs, No Ratio CDFI Loan Programs, DSCR Investor Mortgages, Commercial Mortgages, Fix and Flip Mortgages and thousands more!

Our Mortgage Loan Originators are trained to be l

The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as thousands of Non-QM mortgage loan program variations using alternative income documentation!

Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!

Our team of licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as
officer sales training that wedo at 12 PM Eastern.
Every weekday where we gothrough the front end and the
sales end of mortgages today,we're going to be talking about
something very general, somegeneral concepts.
And again, I'm going to keepthis quick how to close more
loans, right now, lucky for you,there is going to be some

(00:26):
revolutionary information inthis presentation that will
change The game for you.
I'm going to show you a way to1000%, a hundred thousand
percent for sure.
Close more loans if you do this,right?
So let me go ahead and.

(00:48):
Take the chat off the screenhere and we will get into it.
So how to close more loans as aloan officer.
That's what we all want to know,right?
Especially in these times we gotto get that business picking
back up.
No rate cut for today,obviously, but maybe the next

(01:09):
meeting.
So we'll, we'll all hope for thebest, right?
But in the meantime, we can'tlet that affect us.
There's still loans to do.
There's still loans being done.
And we can get out there andclose them.
So how, for those of us who arestill in the business and still
taking it serious how do weclose more loans?
Well, again, here's somerevolutionary info in here and

(01:32):
the next slide that willabsolutely 1000 percent work.
I guarantee it.
So how do we close more loans?
There it is.
Mind blower.
Revolutionary.
How to close more loans.

(01:56):
Make more calls.
That's it.
Make more calls.
Make more initial calls.
Make more follow up calls.
Right?
Every kind of call.
Make more calls.

(02:16):
That's it.
It's that simple.
I guarantee you personalguarantee here that it will 1000
percent work to close moreloans.
You want to close more loans,make more calls.
If you don't make more calls,you're not going to close more
loans.
So that's another way to put it,right?
Maybe you should switch it tothat, right?
If I don't make more calls,there's no humanly way possible

(02:37):
for me to close more loans.
It's impossible.
It's impossible.
You can't close loans withoutmaking calls, right?
So that's it.
Don't make more calls.
Don't close more loans.
So all of you out there thatwant to get things going, close
more loans, make more money.
This is 1000%.
It's a fact.
If you don't make more calls,you won't close more loans.

(02:59):
And it's a fact that if you makemore calls, you'll close more
loans.
So stop.
So many loan officers try tofight These facts.
It's a fact.
It's not going to change justbecause you want it to just
because you think you should beable to close loans by just
texting people or just by likemeeting some people or that

(03:19):
people should just come to youand you shouldn't have to call
leads all day.
Stop trying to fight the waythat the universe works.
It just works like this.
We don't know why.
Stop trying to study it.
Stop trying to change it.
And just use it to youradvantage.
We talk about the law ofaverages, use it to your

(03:40):
advantage.
Who knows why we only get oneout of 10.
It doesn't matter.
You could study why that happensfor the rest of your life.
So one of my favoritemotivational speakers, Jim Rohn
calls that study.
Studying the roots instead ofpicking the fruit, right?
You could study the roots allday.
I don't get it.
Why only one out of 10, itdoesn't make sense.
This is such a good deal.

(04:01):
I'm going to spend all my timefiguring out why it's just one
out of 10.
Don't worry about it.
Just pick the fruit.
You know, it's one out of 10.
So call a hundred and get 10.
Right.
So you know, stop trying tochange it or study it or, or
fight it or go against thegrain.
I'm telling you right now, youcould be the best salesperson in

(04:24):
the world.
If you don't make more calls,you won't close more loans and
you're not going to close moreloans without making more calls.
You're not going to change theway the world works.
That's just how it works.
When you set up your own world,you can set it up the way you
want to set it up.
But in this world, this is howit's set up, right?
There's just, there's no wayaround it.
So that is the number one, firstand foremost way to close more

(04:49):
loans is make calls.
Now, part two, how to close moreloans, build relationships with
realtors.
So this is number two.
Of course, this is going toequal more calls because you're
going to be calling theserealtors.

(05:11):
So it's all relative as well,right?
But build relationships withmore realtors.
Those are the two ways to closemore loans in this business.
That's how this business works.
Again, you set up your ownbusiness someday, your own
industry.
You can figure it out howeveryou want, but in this business,
in this industry, in this world,the two ways to close more loans

(05:31):
is to make more calls, aka callmore leads.
And build relationships withmore realtors.
Cause where do deals come from?
Where do loans come from?
They come from calling leads.
Or referrals from realtors.
That's it.
Those are the two places dealscome from.
There's no other random placewhere deals come from.
Right.
And of course, when I'm talkingabout make more calls, I'm

(05:51):
including your sphere.
So you may think, Oh, well, whatabout people I know and stuff?
Yeah.
You got to call them.
Right.
So that's it.
It's so simple.
Let's break it down here.
Let's not complicate things toomuch and think that you need
some kind of crazy stuff toclose more loans, just make more
calls and build relationshipswith more realtors, which

(06:14):
especially here, we give you theopportunity to use the auto
dialer to call thousands.
of Realtors.
You can call hundreds ofRealtors every single day at the
mortgage calculator in the autodialer.
So that can also go towardsmaking more calls.
But again, events, meeting theRealtors in person, going and
reaching out to your Realtorpartners.
Of course, we have wholetrainings on this, but going to

(06:36):
the NAR website, findingRealtors that specialize in what
you're interested in that are inyour area, connecting with them
as a referral partner to sendthem business.
They sent you business, all thatkind of good stuff.
Right?
That those are all the thingsthat we need to do.
And so that's literally it.
How to close more loans, makemore calls, build more
relationships with realtors.

(06:57):
There's a lot of nitty gritty inbetween that and you could, you
know, worry yourself about that.
But at the end of the day, let'ssimplify it.
Top level.
How do we close more loans?
We just make more calls and wedeal with more realtors.
Those are the only two thingsthat are actually going to
create business.
All the other stuff is how do weapproach it?
What's the best way to do it?

(07:18):
All this kind of differentstuff.
But at the end of the day, ifyou want to know, am I making
progress?
Am I going to be closing moreloans?
What do I actually need to bedoing?
Let's cut out all the fluff, allthe other stuff, what you need
to be doing.
The only two things you need tobe doing to close more loans Are
making more calls and buildingrelationships with more

(07:39):
realtors.
Now there's a million ways toget there, how to do it and how
we stay motivated to do it andour mindset and doing it and all
that kind of stuff.
That's what all the othertrainings are for.
But if you ever just want tostop and say, am I working
towards closing more loans?
Am I working towards money in mypocket?
And if the answer is not, yes,I'm making more calls.

(08:02):
And I'm building morerelationships with more
realtors, then you're not on theright track to actually get
those results.
So after the funny slides thereagain, just make more calls,
build more relationships withrealtors, and then of course,
promote yourself.
Online, right?
Social media.
We have all the trainings onthat.
Make sure you're out there.

(08:23):
Now, remember when we saypromote yourself online, I'm
also talking about the brandingand marketing trainings that
we've had.
If you haven't seen those, goback and watch those, right?
Where to make sure that whileyou're making all these calls
and building all theserelationships with realtors, you
want your online presence outthere working for you too.
And you want to make sure whenthe realtor Googles you and
says, Oh, this, This loanofficer just called me today.

(08:46):
Let me see if they're legit.
They said that they, I can sendthem my, you know, self employed
borrowers to get pre qualified.
Let me see if they're legit.
What are they going to do?
Take two seconds to Google you.
And if nothing comes up or onlyone thing comes up or things
come up with profiles with nopictures, Then you just wasted
all of your time making thecalls and building on the

(09:07):
relationship with the realtorbecause nothing came out of it
because you didn't do thegroundwork.
So if you haven't done, rememberevery single one of you, if
you're watching this and youhave not gone and set up all
your free loan officer profiles.
That's a huge problem.
If you're at the mortgagecalculator and you've been here
for more than a couple monthsand you haven't set up all of

(09:28):
your free loan officer profilesthat we have multiple trainings
on, we have it in the knowledgecenter.
There's a list of the sites inthe knowledge center and and
instructions.
If you haven't done that, getout of the business right now.
I hate being discouraging, butif you haven't.
Set up all your profiles, letevery single person in your
sphere know what's going on.
You haven't even started.

(09:49):
You're not even in thisbusiness.
Just stop now.
Save yourself the headachebecause this is one of the
hardest industries in the world.
One of the best industries, oneof the best paying industries in
the world, but one of thehardest industries in the world.
And if you can't even Set up,take 20 minutes to set up all of
your profiles and upload yourpictures to your again, all the

(10:10):
profiles we talked about, allthe social media and your, the
free profiles on Zillow andLendingTree and all these
different places that we talkabout, if you haven't done that,
just reevaluate it, either getout of the business or do it.
Because if you can't evenaccomplish taking 20 minutes to
set up free profiles, you're notmeant for this business, period.

(10:31):
So, you know, that's it.
If you haven't done it, do it.
If not stop, I'm telling youright now, you should stop quit
the business.
You're not meant for this.
You're not cut out for this.
Can't even spend 20 minutessetting up some free profiles
because.
I don't want to give you leads.
And again, this is to those atthe mortgage calculator.
I don't want to give you leads.

(10:52):
If when I give you a lead, theyGoogle you and you don't have
all this set up, right?
That's absolute waste of moneyon my part.
So I'm not going to waste moneyon you.
If you can't even do foryourself, what needs to be done.
So make sure to go do that,promote yourself online and on
social media.
And the very least that startswith setting it all up.

(11:14):
So please anybody watching this,if you have not set up all of
your free loan officer profiles,go to the knowledge center, type
in free loan officer profiles.
Go set them all up, make sureyou have a nice headshot.
The picture should be the same.
The branding should be the same.
The link to your website shouldbe the same.
You know, we have multipletrainings on that.
And then another way to closemore loans.

(11:36):
You're just being an educatedand prepared loan officer
consultant.
I mean, that's what we talkabout all day, every day here at
the mortgage calculator.
So again, while you're makingmore calls and building
relationships with morerealtors.
it's going to actually beeffective if you're being an
educated and preparedconsultant.
So this all goes together hereand right after making more

(12:00):
calls and building relationshipswith more realtors is asking for
referrals.
If you want to close more loans,ask for more referrals from
people you've done businesswith, people you haven't done
business with, people in yoursphere, That's it.
I mean, those are the three waysto get businesses, make calls,
talk to realtors and getreferrals from people that you

(12:22):
already know or have alreadydealt with.
Like, that's it.
That's what this whole thingboils down to.
There's a lot of in betweens,little stuff, different ways you
can do it and approach it.
But at the end of the day, ifyou're saying I got to make
sales, I got to close loans.
There's only three things thatyou can actually do to make that
happen, which is, you Get on thephone and make more calls.

(12:44):
Talk to more realtors.
Maybe that's getting on thephone.
Maybe that's talking to them inreal life, going to events,
going to the NAR website,whatever it may be, and then
asking for more referrals.
There's only three actionableitems that you can actually do
to generate money in yourpocket.
So anybody on here, especiallythe full time loan officers, I
know it's been a tough year, soI know we all need to generate

(13:05):
money.
In our pockets, right?
Because it's been a tough yearfor those full time loan
officers out there trying to getby.
And one of the most difficultyears in mortgages and a long
time.
And so if that's you, especiallymake sure you've done all these
steps, put all your profilestogether, put all your social
media together, laid thegroundwork, and then just know

(13:26):
there's only three things thatyou can do.
So it's really a no brainer.
The first slide is everything.
The only thing that you shouldreally be focused on is making
more calls.
It's not going to happen anyother way.
It's not going to happen byosmosis.
It's just not, it's just,there's just one way to do it.
So again, if you're not a callperson, you don't want to make

(13:47):
calls.
Unless you know, a lot ofrealtors in person and deal with
a lot of people in person andhave enough business in person
to last you you know, thisbusiness isn't going to be for
you.
Cause it's going to take makinga lot of phone calls.
Again, some people might have agiant network themselves and
they only call the people intheir network.
But.
And they're not reaching out toleads, but the reality for most

(14:09):
of us is that we should bereaching out to hundreds of
leads per day, which at themortgage calculator, we have for
you every single day.
Every single one of you hasthousands of calls you can do
that's in your auto dialer.
Already.
So want to close more loans?
Start by making more calls.

(14:32):
All right.
Again, wanted to keep it quickhere today.
Real general.
Remember we do this 12 p.
m.
Eastern time every weekday wherewe go through the front end of
the mortgage business.
So we'll be back tomorrow with anew topic.
I appreciate everybody tuningin.
We'll see you tomorrow, 12 p.
m.
Eastern for the next episode ofthe loan officer sales training.