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The New Year is right around the corner, implementing a Re-recruitment strategy to retain talent is paramount.
Far too often, Loan Officers go about their business directed with the "Ready, Shoot... Activity without foresight and planning is a waste of valuable time and energy.
New Business Planning One of the major reasons' Loan Officers struggle at hitting their targets is that they lack organization and the discipline to stick to a system for business development.
There is still time in the fourth quarter to keep your Loan Officers engaged, get their business on track and formulate a Business Development Plan for 2016.
With the slow down in refinance application in 2015, many Loan Officers fell short of their Sales Goals and maybe searching for a new home (employer) to ensure they meet their goals for next year.
As the mortgage industry’s premier coaching company, our team of coaches has been helping loan officers for over 22 years to generate more referrals, improve efficiency and close more business.
We know how overwhelming the idea of creating a business plan can be and that's why we've created a Business Plan Worksheet for Loan Officers.Historically, the fourth quarter is a time when Loan Officers, at all levels, start to look around at their career options.Their loan volume is usually down, and it is reflected in their pipelines'. However, if you asked 100 people what a business plan is, you would get 100 different answers. The easiest thing is to give them a spreadsheet which details their expected production and income for next year.Of course, you could solve these by asking for a range of production numbers—Worst Case, Medium Case and Best Case. I will cover only a few here, but there are a lot more: ►For one, what are the everyday actions which represent the vehicles that will get your Loan Officers to their goals? The problem with that is there will be very little chance that the exercise will be accurate. For one, there will be changing conditions which cannot be predicted. For one thing, the goals will be missing many important aspects of the planning process. Then you can just add these up and come out with the branch, regional and/or company goals.They need to drill down to the everyday activities which will bring them success, because every goal is reached one step at a time. Who will they call, how often, what relationships will they add or enhance and what value are they going to add to these relationships.If they have not defined the value they are going to deliver, then they will be missing a very important element. Everyone knows the basic elements a Loan Officer needs for success–attitude, hard work, investment, professionalism, communication skills and more.New pre-licensing courses, test prep tools and CEU courses are available at https://Diehl Education.com/opms/.While it’s important to recruit new talent, it is just as important to focus on re-recruiting your existing employees.