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   ARTICLE   |   From Scotsman Guide Residential Edition   |   August 2015

Find and Hire the Perfect Match

Recruiting originators requires patience and persistence

Find and Hire the Perfect Match

There’s a painful reality in the mortgage industry today: Many recruiters don’t know how to recruit. Some companies tie their sales managers’ compensation to the number of direct reports as a motivational attempt to drive recruiting, but this can sometimes backfire and instead create more stress.

For managers to get the most out of their recruiting, they must be patient and they must be persistent. Possible matches are out there, in a variety of locations. You should know where to find them and how to make sure that you’re hiring the best possible fit for the company and employees.

The mortgage industry suffers from lack of training in all areas, whether it’s on how to be a successful loan originator, how to be an inspirational sales manager or how to recruit successful employees. Because of this training shortage, many managers recruit subpar loan originators to simply fill the quota they are given by their employers. This recruiting struggle can eventually lead to these managers’ demise.

Recruiting must be a discipline for all managers to ensure success in this business. So, what is standing in the way of just doing it?

First, managers should determine why recruiting should be a discipline. The reason cannot be because of a manager’s quota. It has to come from within, and it needs to start with an answer to the question: Why am I a manager? If you’re in this position, take some time to define the reasons you opted to move into this role.

In this soul-searching process, you may realize that you don’t really want to be a manager — and that’s OK. It’s better to realize this early on and get back to what you are passionate about. Life is too short to be doing a job that you loathe. Once you understand why you are in the position you are, you should look at why recruiting is important.

Value check

There will be a day when some of your employees leave and you should think what the impact is on you and your team. Think if others will follow, if production will decrease, if support staff will have to be laid off or if your compensation will be impacted. Assuming one or more of these consequences concerns you, you are ready to get on with the business of recruiting.

Do you know the value of a recruit? In other words, what monetary value does a new originator bring to you and your team? To determine this value you must know how much volume this originator is able to close. Many managers have never thought about this concept. If you look at past production numbers and estimate the growth potential, it is not hard to determine how valuable a specific recruit will be for the team. Knowing this value is crucial because it will keep you focused on the task at hand.


Many managers were once loan originators and had to find referral partners. Assuming this is your situation, you may have experience cultivating professional relationships. Throughout this process, you probably learned that you have to be consistent and persistent to land your first referral partner. You should consistently touch base with prospective partners, because if you don’t, you risk becoming out of sight and out of mind. You also must be persistent in asking for the business. Simply showing up is not enough.

Red flags should be raised if someone is ready
to make a career change after meeting you one time.

Recruiting loan originators is similar. It can, however, take a lot longer, and that is where many managers struggle. Salespeople aren’t always the most patient people, and unfortunately, recruiting is all about patience. Knowing the value of the recruit will hope-fully provide you with the patience necessary to stay the course.

The right one

If you are single or you remember being single, one of the hardest things about dating is finding a compatible person. Because sales managers are tasked with networking and recruiting, the struggle is similar. Prospective, compatible clients and employees are out there, and everyone wants to find them and connect with them, without having to make a cold call.

This is where websites like LinkedIn become so valuable. Simply type in a search term — say, “loan officers in Delaware” or “Houston mortgage brokers” — and you are instantly provided with a list of possible matches for you and your business. Searching the NMLS consumer side is another great tool, but this just lands you an opportunity to make a cold call — and that is not something that many people enjoy.

Just like dating, you will have to leave your home or office to go out and meet people. This could mean joining the Mortgage Bankers Association, attending industry functions, parties and local chamber events, or simply going anywhere loan originators would go to meet their referral partners.

For those who were previously loan originators, you were probably leery of Realtors who were ready to do business with you after your first meeting — much like someone who proclaims love for you after one date.

Recruiting and networking are no different. Red flags should be raised if someone is ready to make a career change after meeting you one time.

A prospective recruit should want to get to know you and your company better, and vice versa. In this phase, you can learn what the other wants in this business. This process should be embraced by you, as this is the fun part.

•  •  •

It is often said that patience is long-suffering. It should be remembered, however, that patience when recruiting will net just what you want to complete your team. Patience will also ensure a long relationship with this new recruit. 


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