When we think about business success, we often look to the numbers. We want a concrete plan for how to get from where we are to where we want to go. There’s nothing wrong with looking to your numbers to measure business growth, but it’s important for loan officers to expand their perspective when it comes to figuring out how they’ll get there. The mortgage business isn’t only about numbers. As loan officers know, their work is highly interpersonal. This is why strong communication skills are so essential. Whether it’s prospects, clients, team members, or others in their networks, loan officers need to effectively engage with a variety of people on a daily basis. So, how can they ensure their communication is supporting their success? Here are a few important elements:
Clarity
Clear and concise communication is paramount for loan officers. They need to be able to explain complicated concepts and important deadlines to their clients in a way that’s easily understood. Homebuyers often have a lot on their minds, and when loan officers are clear, they help borrowers cut through some of the noise. Being clear is also related to transparency. Loan officers need to be open and transparent with their clients no matter what. In order for clients to trust in this transparency, loan officers need to be able to articulate exactly what they need to get across to clients. It’s not just clients who require clear communication from their loan officers. Loan officers also work as part of a team. And for a team to work effectively, the members need to understand each other’s needs. Expressing to your coworkers what you need from them and making important dates clear prevents misunderstandings and confusion from slowing down the process. Clear and concise communication is one of the most important tools a loan officer must possess in order to achieve success. You must eliminate ambiguity from your communication!
Openness
Communication also means that you’re accessible. You’re present to communicate with. You’re able to be reached. Knowing how to establish and maintain these open channels of communication is essential. When you make clients feel confident in their ability to reach them, you improve their experience. It’s an elevated level of service that helps them to feel like you’re on their team. It’s this type of experience that motivates clients to spread the word. Open communication is important with team members too. The better you keep one another updated and the faster you can alert each other of any issues, the more efficiently you can deliver results to your clients.
Curiousity
Listening is at least half of strong communication. If you’re not actively taking in information, the information you put out won’t be as useful. Communication needs to be a back and forth, a give and take. Asking questions is essential. It helps you better understand the people you’re working with, be that clients or coworkers, and it helps them feel valued and understood. Developing a sense of curiosity towards others can help loan officers to thrive. In addition to being curious about others, loan officers also can develop a sense of curiosity that they communication when it comes to themselves. What I mean here is asking for feedback. When you’re comfortable asking for feedback and truly hearing the answer, you give yourself the opportunity to learn valuable information to fuel your success.
For loan officers, strong communication skills are a must. We need great communication skills to deliver a top-notch client experience, and we also need them to build a business and team that are capable of sustaining growth. How important is communication in your day-to-day work?
Kirk Brewer
Branch Manager | Loan Geek | NMLS #150287