What is the fastest way to build your client base if you are new to becoming a loan officer.
Networking with investors is a good start, and this is a good place to do it. Another great way to build your list is to network with real estate agents. They are going to be your bread and butter, so get friendly. There is a lot of competition out there, and in this business it really becomes about who you know. Good luck.
What's always worked for me has been a mind set which is, consumers are not generally looking for a loan or a loan officer. The whole process of lending is a necessary evil part of the transaction. What many consumers want is a great deal on a home. So what I do is look for great deals on houses then help advertise them for free. I generally start by looking for homes selling way below market prices. I view the entire city as available inventory. Think about it......If it's a great deal, somebody is gonna buy it and I want to be a participant when it happens. I then ask them "oh, by the way...are you gonna need a loan?" I search multiple listings, perform market analysis, talk to agents, find out how negoitable sellers are and even offer to help with open houses. Partner with Realtors who are willing to share mls data such as; recent transactions that have busted out or a list of current listing price changes. Think of the lead generation process as one big funnel with a large bucket at the bottom. Use various sources to generate the leads but also be thinking about how to capture and retain them once you have them via e-mail drip campaigns, mail outs, and newsletters.
live long and prosper!
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