As published in Scotsman Guide's Residential Edition, September 2005.
A precursor to the success of all brokers and loan officers is providing dynamic customer service to their clientele. All clients should walk away from the experience with the sensation that you and your team have exceeded their expectations. They should be compelled to tell their friends and family about your terrific service.
This level of service requires having a system that generates predictable and positive results. Whether you are a force of one or a team of 10, you simply must have a solid map to follow. This also benefits your team members by providing a clear outline and protocol to streamline and ease the closing of each loan. More importantly, your team will be happier with an efficient environment in which to work that is not filled with chaos — phones ringing off the hook with questions from clients without a clear understanding of where they stand.
I have used a 71-point checklist that I call “The Perfect Loan Process.” It outlines each task in the loan process and the person assigned to it. This system ties into database management, and it includes a library of 42 correspondence letters generated through my contact manager. When the process is implemented, my staff clearly knows which letters apply in which scenarios.
How it looks
Here are the first 15 action steps in my checklist. (The loan executive enters in step No. 8; this could change if your team does not include assistants and a transaction coordinator.)
1. Initial client phone call (completed by loan consultant): The loan consultant fills out all fields in the database. The advantage is that the consultant can “sell” the loan executive in preparation for the private consultation and gather valuable information about the client.
2. Income, asset and liability assessment and Page 5 interview (loan consultant).
Run credit (loan consultant).
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