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When to Hire an Assistant?
Written By: John Santorineos
John Santorineos is a mortgage originator with American Home Mortgage in the Chicagoland area. He has been ranked within the top 200 loan officers in the U.S. and is a member of the Mortgage Speakers Bureau (www.MortgageSpeakersBureau.com). John can be reached via email at john.santorineos@americanhm.com.
This is part 2 in a 3 part series. The 3rd and final installment will be on "How to hire the perfect assistant".
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As discussed in the last issue, hiring an assistant is a must if you want your business to grow, enjoy more time off and give better customer service.
The big question now is:
When should a Loan Officer consider hiring an assistant?
Let me answer this question by using an illustration. If you wanted to open up a fast food restaurant, when would you hire your first assistant? Would you decide you first need to get your business up and running and then hire an assistant? Would you run the restaurant by yourself? Take the customer's order, be the cashier, then run in the back to put a couple of burgers on the grill and then run back up to help the next hungry customer. Would you consider doing that? How profitable would you be? How many customers could you serve? What quality of customer service would you give? How many burgers would you burn? How many customers would come back again or refer you to their friends? Do you see a correlation?
Of course, things are not exactly the same in the loan originating business, but this illustration helps make a point.
You the Loan Officer, can either go at it alone or decide to run a real business. The earlier in your career that you hire your first assistant, the faster your business will grow. The first step you need to take before deciding when to hire an assistant, is to do the following exercise.
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