Brokers and loan writers are having more deals done and seeing more loans than ever before. This allows any broker and loan writer the opportunity to create a solid database of clients, potential clients and referral partners.
However, not all business will be good business. In this market, it’s important to stay true to yourself and stand firm on the type of professional you want to be.
What 2021 has taught us the most is that unpredictability is here to stay for a while yet. The key is to be flexible, open to multiple moving factors and adapt when you need to.
In our 2021 market, expectations are high. Expectations from clients and banks are higher than ever. Not to mention added expectations of working from home, homeschooling, lockdowns and the rest! It’s been a trip.
1. From your very first interaction with a client, be clear on what type of relationship you will have, what role you will play in their journey and the outcome you wish for them. You’re setting the scene, you’re in the driver’s seat, you’re the professional they are putting their trust in.
2. Nothing builds confidence more than a professional with a plan. Be clear on your plan, be honest about the risks, the potential hiccups and the state of the current market. Give your client as much information as they need [even if it’s not always a good news story].
3. If you ask more questions up front, you will save yourself a whole lot of time down the road. Take the time at the beginning of your relationship to understand your client.
4. Be clear in your communication and protect yourself and your client. Look at your systems and processes and make sure that you have set up a clear “roles and responsibilities” in your processes with your clients. Have your clients review and sign off on what your responsibilities are [and are not] and where your role stops and starts.
5. If a deal gets declined and a bank is not coming to the party, this could negatively affect your client. If a lender denies a deal this could mean more stress to your client. Try to keep them motivated by explaining your next steps and how you’re going to get this deal done for them so they're aware of the process ahead of them.
6. Make sure you communicate with your client and keep them abreast of any changes as they happen. You want to be the go-to person for your client, and you want them to see you as the trusted advisor.
7. When you’re with your clients, be present. Invest in your time, energy and responses with your clients. I talk about the 4 C’s of client relationships: Compliance, Control, Communication and Common Sense. When you take part in any client interaction think about whether you’ve ticked off the 4 C’s.
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