Careers in the Mortgage Industry Require 3 Simple Skills
To be truly successful in the mortgage industry, you have to provide more than sound mortgages. Customers expect great service and experiences, too. Here are the top three skills that the professionals at Freedom Mortgage believe will bring you greater success in careers within the mortgage industry.
Skill #1: Sales and Customer Service
As a mortgage professional, you must be able to market your skills and demonstrate your knowledge to prospective clients to earn their trust and their businesses. Sales skills require strong listening and a lot of persuasive communication on the phone and in person. It’s important to ask questions and not be too pushy so the client feels confident that you’re helping them make the best decision for their lifestyle.
Customer service skills include being able to professionally address and defuse arguments and complaints from borrowers. To close the sale, help customers feel welcome, listen to their needs and be completely transparent about what you can offer them.
Skill #2: Staying Current
You can’t play the game if you don’t know the rules. Monitor current events that affect mortgage rates in your area. Brush up on mortgage guidelines often, because they continually change. Consider continuing your education in the mortgage industry by earning certifications or attending seminars, trainings and other events. Study how homebuyers are impacting the mortgage industry, and learn how to cater to their needs.
Remember that technology is your friend. Creating strong online and social media profiles for your company and being proactive about answering questions quickly across channels might be just what you need to gain your client’s trust and make the sale. Stay current, and you’ll stay ahead of the competition.
Skill #3: Great Communication
As a loan officer, communication is key. Today, you need to be able to communicate in the ways that clients expect, which includes rapid response over text and email in addition to phone and in person meetings. You must be comfortable with the entire sales process and openly discuss each step with your clients. Listen to their needs and concerns, and address each one with transparency.
You must communicate financial data to your customers both verbally and in writing. If you sense that your client feels overwhelmed or confused by the data, stop and ensure that they understand and feel comfortable with each detail. You are there to examine the financial data and make recommendations based on your findings. Communicate your recommendations clearly through every step of the process. This includes examining a client’s “layered credit risk” as a whole, and presenting the file accordingly. Be aware of non-verbal clues that your client is lost or uncomfortable, and adjust your approach as needed to keep communication clear and open.