The best loan originators are excellent communicators who understand how to connect with borrowers and referral sources in a way that inspires loyalty and trust.
Why it matters:
- “Communication consistently tops the list of problems most cited by mortgage borrowers. Year to date, nearly one in four borrowers (24%) who had a problem in some area of their mortgage journey attributed it to communication issues,” observed Stratmor Group’s Mike Seminari.
- Less than half (48%) of mortgage customers said they were kept fully informed during all phases of the loan process, according to the J.D. Power 2022 U.S. Mortgage Origination Satisfaction Study.
- The good news? Communication skills can be improved. Active listening, responding to borrowers in a timely and proactive manner, and providing accurate information are non-negotiables if LOs want to earn repeat and referral business.
For additional insights, take a look at “How Can Mortgage Originators Improve Their Communication Skills?” by Stratmor Group’s Mike Seminari.
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.
