Between keeping up with closing loans for current clients and beginning the loan application with new clients, it can be easy for mortgage brokers to pick up behaviors that are detrimental to their success. No matter if you are a new broker starting out in the mortgage industry, or have been closing loans for more than 20 years, you may find yourself picking up one of these five common bad habits.
- Being disorganized
While some may claim to thrive in “organized chaos,” odds are you don’t. A messy office, desk, filing system (what have you) can lead to you forgetting important tasks, losing documents or missing deadlines. Taking the time to invest in a management system that works for you can make the world of a difference when it comes to staying on top of your work.
- Not setting a personal goal
What do you want to accomplish this week? This month? Before the year ends? Without setting a personal goal, how can you measure if your time has been well spent? Whether you want to make sure you close three loans per month or speak to five prospects per week, it’s important to have a goal (and goals to make up an overall goal) to keep you focused and on track.
- Inconsistency in communication during a loan process
Failing to remain in contact with your clients through the loan process can lead to them feeling neglect. This feeling can impact whether or not that particular client would refer your services to another person, or consider you again should they decide on another purchase or refinance. Set up a schedule where you can check in with your clients regularly to show you care not only about the progress of the loan, but the client’s personal journey as well.
- Losing contact with clients after closing
“Goodbye” should not necessarily mean “goodbye” when you close a loan with a borrower. Developing a relationship with successful loans can increase your chances of your services being considered when a client wants to refer a family member or friend to a mortgage broker, or if they decide to use your services again themselves.
- Failing to remain motivated
There will always be ups and downs working in the mortgage industry, so it is understandable that you may feel unmotivated at times. While this may be the case, it is important to remain resilient, motivated and ready to move forward developing a successful business.
It can be tough to break out of a bad habit, but with time and determination, you will be able to get back on track with the behavior that contributes to your success.