Ask the Expert: Dave Hershman
Focus on Management: Practical Recruitment Tips for Managers
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Dave Hershman[/caption]
Q: It has become increasing difficult to fill loan originator positions with experienced hires who easily acclimate themselves to the office. I am thinking about bringing new people into the industry and going after those who are not as experienced as well, but I don’t know how to assess them.
Do you have any recruitment advice? Ann from Vienna, Va.
Hershman: Our industry has never had had a definitive path for people to join the mortgage industry. No one goes to school to become a mortgage banker or loan officer. In the past, those who have wandered into the industry were likely to come from a related field or had some sort of personal connection--family, vendors, and so forth.
Our recruitment strategies need to become more sophisticated. While most mortgage companies don’t put signs on telephone poles, cold call or advertise for positions, too often the strategy won’t yield the types of candidates the firm is looking for.
After all, experienced and productive loan officer aren’t looking at ads to find a job, especially with recruiters working the phones every day. Likewise, those who can’t find a job are likely to respond to ads for entering the industry. Either way, we aren’t attracting the elite candidates we need to lead our industry in the future.
To improve the chances of recruiting ideal candidates, people who will fit well with the company’s culture, follow some practical guidelines:
- Instead of experience, ask about accomplishments.
- Instead of education, ask about specific skills, and
- Instead of salary or compensation requirements, ask for monetary objects and how they see themselves getting to that point.
Thanks for the question, Ann.
About the Author: Dave Hershman is a VP of Sales for Weichert Financial Services and founder or OriginationPro (www.OriginationPro.com), providing marketing content and training programs for the industry. Email him with questions or comments at This email address is being protected from spambots. You need JavaScript enabled to view it.
