Not only are these activities less effective, they are more expensive and do not present the additional synergy opportunities that using your network can produce. This does not mean that you should not continue to widen your focus when it comes to marketing. However, even these additional activities can again be best implemented through your sphere:
Having lunch with managers of other companies
Use the opportunity to network, including what is happening with other companies, products that are hot, etc. Have they been contacted by anyone for a job that they cannot accommodate Maximum synergy marketing rule number two indicates that if you are marketing by yourself, you are wasting synergy. There is no better target than others who are doing what you do.
Find commonality on LinkedIn
If you are going to contact candidates you don’t know, connecting with those you have something in common with makes all the sense in the world. For example, perhaps you went to the same college or are from the same hometown or country as a loan officer within your area. Or perhaps you both worked at the same company at different times. This does not mean that you call the candidate cold. Send an invite to connect that points out the commonality.
Develop innovative plans/relationships with personnel service companies
Who would see more potential employees than a recruiter? The most effective part of any marketing plan is the aspect of efficiency. What do we mean by innovative plans? If you are looking for a processor—hire one as a temp for three months with the agreement that you will be subject to no fee if you give them a permanent job thereafter. Get the word out that you will review those who cannot be placed because of a lack of mortgage experience. Bit, at the same time define what would be relevant experience. You will “take them on” for free—or at a low cost—and give them training. You might even start them on the loan officer assistant level. Refer people you cannot handle to these recruiters to create an air of reciprocity. The best targets have the highest concentration of potential leads for you and certainly, in this case, recruiters would fit the bill. But the partnership has to go in both directions.
Participate in career seminars at local colleges and high schools
Perform your civic duty and receive benefits at the same time. This will enable you to establish long-term relationships with placement offices and be on their lists when good people are available. Remember, not many people go through school thinking mortgage banking as a career goal. If you are an alumnus of the school, you should have a relationship already as part of your production-marketing plan.
Keep in mind that we are not necessarily suggesting that you should be looking at college graduates as loan officer candidates. But remember that relevant experience for novices includes mortgage operations, including being an assistant. Bringing graduates in enables you to start a loan officer farm system while you strengthen your recruiting on the operations side.
And going further, this will put you in touch with other alumni and their sphere, which could lead to more experienced candidates. It is another synergy component which can lead in several directions, including mortgage referrals.
You must network among everyone you know. Think about your last ten hires. How many were a “friend of a friend”? The most fertile ground for recruits is your personal network—including friends and those involved in the groups you are a part of. Get the word out to everyone you know and your CRM is an excellent tool to make this happen.
Ask them if they know anyone in the business or wanting to get in the business. Ask for introductions. If you know a tremendous amount of people, consider a newsletter or other communication to be published monthly/quarterly that stresses your need for candidate and mortgage referrals. Every activity you take to recruit should be helping you produce.
Dave Hershman is Senior VP of Sales of Weichert Financial and the top author in the mortgage industry. Dave has published seven books, as well as hundreds of articles and is the founder of the OriginationPro Marketing System and Mortgage School – the online choice for expert mortgage learning and marketing content. His site is www.OriginationPro.com and he can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it..
