Estimated reading time: 1 minute, 17 seconds

Are Your LOs Making This Common Selling Mistake?

One of the biggest mistakes I see with loan officers (LOs) is that they believe their job is to manage every potential borrower who contacts them. In selling, the best sales professionals understand that not every prospect will match to their product or service.

Pat SherlockTop producers operate on the premise that real estate agents are their main customers and prioritize their selling time accordingly. Moreover, they feel referral relationships are only as good as their last transaction. Therefore, they hold themselves to a high standard that involves time and hard work.

They get that developing high-quality referral source relationships takes valuable time that shouldn’t be wasted on price buyers who won’t pull the trigger because they can receive an eighth of a percentage point lower from someone else.

To be sure, LOs in our current purchase money environment may feel as if they’re being pulled in a million different directions with not enough hours in the day to handle sales activities. From generating referral sources and delivering great customer service to plowing through a deluge of administrative work, it can be difficult for LOs to figure out how to use their time.

But, sales professionals who want to hit their budgeted goals need only take a page from the best originators in the business: make establishing and nurturing referral source relationships a top priority to achieve results.

Pat Sherlock is the founder of QFS Sales Solutions, an organization that helps organizations improve their sales talent management and performance. For more information, visit https://patsherlock.com.

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