You walk into your office one morning, look at your calendar, find that you have no applications, pre-quals, or meetings and decide that it would be a perfect time to start that new marketing campaign that you always wanted to try.
Then the phone begins to ring; the processor knocks on your door with an underwriting problem; and all of your great intentions go out the window.
Your job description has been changed instantly from a mortgage originator to a fireman - putting out the little fires that start up each day.
Take a minute to think about your title: "mortgage originator". Your responsibility is to bring the loans in the door and an integral part of the job description is "marketing".
Here are 6 tips to help you free up your time - especially when you have to wear a fireman's hat some days!
- Make Marketing a Priority - set up an "appointment" with YOURSELF and write it down in your calendar. Pick a day and time that is usually slower for you. Wednesday mornings are a pretty good time for loan officers. (You have taken care of the weekend business on Monday and Tuesday and you spend Thursday's getting the loans ready to close Friday's loans.) Without a strong commitment on your part, you will find yourself with plenty of time for marketing because you won't have any business.
- Plan ahead to diffuse crises - It's impossible to devote time to marketing if you have to constantly deal with problems. Anticipate potential problems. Meet with your processor and closing agent at the beginning of the week. Ask yourself "What are the worst things that could happen this week?" Then come up with a game plan so those deals don't blow up in your face. When you are pro-active in managing your time, you reduce the number of crises and have more time to concentrate on your marketing.
- Cut the fat - Don't get caught up in "busy work". Only work on tasks that will MAKE YOU MONEY. Greg Frost says that there are only 3 of them that you need to concentrate on day in and day out: Pre-Apps, Apps, and Marketing! Ask yourself which activities are most crucial and ones that ONLY you can handle. Which ones can you delegate?
- Consolidate your activities - Group your activities together and plan ahead. If you have an application outside the office, cluster it with a visit to a real estate office and one of your affiliate partners. Or better yet, kill two birds with one stone and schedule the loan application IN the Realtors office.
- No telephone interruptions - You don't NEED to answer the phone each time it rings! RESPECT yourself and your time by letter the call go into voicemail. In fact, some of the superstar loan officers NEVER answer the phone. That way, they can prioritize the calls based upon the voicemails and urgency of the call. Schedule time for marketing. Schedule time for returning phone calls.
- Think Positively - Frustration, worry and anxiety waste time and cause you to panic. It's down right impossible to concentrate on your marketing efforts. Ask yourself this question: "What is the "worst" thing that could happen if...?" and you can live with, and accept the answer, and then most of your anxiety will dissipate.
It really comes down to Time Management doesn't it?
You deserve to spend quality time with yourself.
Look at your calendar and make the "appointment" right now.
Ask yourself this question daily. "What can I do NOW to make today more successful, despite the setbacks?"
Wishing you marketing success,
Karen Deis
Publisher
Copyright, 2004, LoanOfficerMagazine.com
