If you advocate you can solve all kinds of problems than you can't declare yourself as an expert, because people know it's impossible to be "jack-of-all-trades." On the other hand, if you learn to stand for one thing, you'll do yourself several favors. You'll be more appealing to Agents and you'll reduce the number of loan programs you have to know inside and out. This helps create predictability in your business.
As you know, the most important element in the relationship between an Agent and a loan officer is the buyer's loan closing on time. Consistency is the name of the game when it comes to servicing a relationship. It's also the quickest way to get rid of one. If you're working with an Agent that you don't like, just let the loan close late and you'll never see them again.
What will happen if you target Agents that have problems that you're good at solving? Agents will seek you out as a specialist rather than seek out any Joe Regular loan officer to fix their problem. And the best part is, as you solve Agents problems with consistency, they'll no longer think of you as a specialist. You'll be knighted an expert.
But the first step toward becoming a recognized expert is to specialize in a subject matter. Subject matter is your knowledge you'll use to educate prospects about your expertise fueling word-of-mouth among Agents.
This week's issue is how to inventory your knowledge and skills to identify your subject matter.
What problems have you solved repeatedly?
This is the first place to search. If you're fortunate and spotted one, you probably have found a unique position. To make certain it's unique, ask your peers, escrow officers, other Agents and your manager if they know another loan officer inside or outside your company, who's specialized in solving the same problem you've spotted.
From your point of view, developing subject matter from problems you've solved feeds into an Agent's psyche. While everyone else is promoting solutions, you're positioning your expertise around their problems. This connects better. It shows that you have a deeper understanding and aren't trying to sell them something.
It makes for easy prospecting too. Just contact the Agents who had the problems you've solved and ask them to introduce you to other Agents in their office that have similar problems. You're assured a positive client recommendation and at the same time you'll avoid the objection, "I'm happy with my current loan officer."
Do you have any specialized training?
This area is sometimes overlooked. Think about your present and past work history, is there specialized training that you've been the recipient? For instance, maybe you worked previously in an industry that serviced affluent customers and you were trained in the specialty area of customer service.
Your knowledge and skills can be transferred into your present work, using it to target Agents who work with affluent sellers and buyers. Your credibility as a subject matter expert would be supported by your previously work experience and specialized training.
What are your favorite or best loan programs?
This is the easiest area to identify your subject matter. And the most likely that other loan officers have identified too. The key is to be first; otherwise you're slugging it out with everyone else.
Today, there are hundreds of loan officers in major cities across America who have declared their expertise in the subject matter of investment properties. It's so flooded with competition, nobody has differentiated their services, so Agents can't tell the difference from one to the next.
You're wasting time and resources declaring your expertise around a loan program that every loan officer has access. Either uncover niche programs that few others have, or wait for the next loan program to come along that you can promote before everyone else does.
What compliments have you been given repeatedly?
If you render quality service consistently, you've probably been given notes of appreciation or been complimented personally. If this has happened recently, contact the person who paid you the compliments. Tell them you appreciate their kinds words and share that it would be helpful to your marketing plan if they could describe the specific skills they appreciated particularly.
It's not surprising when you discover your talents from the people who have experienced them firsthand. Don't be afraid of soliciting additional details, it's too important to identifying your subject matter expertise.
What are you most passionate about in your business?
When you consider everything you do in your job, what part of it is most rewarding? Can you build it into subject matter? For example, if you're passionate about serving others, can you show Agents how they can learn to use similar skills and knowledge to transform their businesses?
Take extra time to focus in this area. Finding a subject matter that you can build around your enthusiasm is like rocket fuel. It'll help you push through any possible obstacle.
If you identify a subject matter but aren't sure if it's unique, send me an email and I'll respond with my opinion.
Thanks for support,
Jeff Nelson
Salesachievers
Helping loan officers attract more clients
© 2004, 2005 by Jeff Nelson
All rights reserved
