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Transform the Customer Engagement Experience

Loan Officer Coaching
customer engagement experience

As a loan officer, it is important to improve your customer engagement experience. So, add flexibility and personalization to the borrower journey. This can be achieved by enhancing your strategy and implementing positive communication throughout the loan process. 

Your conversations drive powerful change in the lives of your borrowers. So, focus on people-first innovation in your work routine! 

customer engagement experience

People First Mindset

View your work as a form of customer service. After all, it is your job to serve as a trusted advisor to your borrowers. So, focus your mindset on making the borrower experience as simple and easy as possible. Also, ensure you provide the customer with the information they need to make the best decisions possible for their specific situation. 

The customer should sit at the center of your day-to-day work. This will help you provide a positive customer engagement experience. So, anticipate their needs and find effective ways to meet them. 

Communicate Effectively in Customer Engagement Experience

A productive way to gain confidence as a loan officer is to communicate with current and past clients frequently. So, gain insight about why they enjoy working with you. After all, your first-time customers may have had negative experiences with other originators in the past. 

So, maybe that is how they found your business and you are their second shot at a successful customer engagement experience. Focus on the fact that you make a difference in the lives of your clients. Then, this will shift your perspective on what you do and give you confidence in your client interactions. 

Earn Repeat Customers 

Getting clients to say “yes” a second time is usually much easier than the first go-round. Additionally, this opens the opportunity for you to earn repeat customers for future sales. 

Repeat customers are one of the easiest ways for loan officers to find financial success. But, according to Matt Dowd during the Ice Mortgage Technology Experience ‘21, “Only 9% of lenders expect the majority of their customers to borrow from them again in the future.” 

Matt Dowd

VP Product Management

ICE Mortgage Technology

At the end of the day, repeat customers often require less front-end work to earn their business. Now is the time to set up a plan and earn repeat mortgage business. That way, when the market is not great, you still have plenty of loans in your pipeline. 

Discover Referral Partners

Reach out to people who believe in your work. This includes past clients, family members, friends, colleagues, mentors, or anyone else who has access to the clients you would like to see in your pipeline.

Ask if they have interest in a referral relationship. Then, you can provide a thank you gesture for any referrals they send your way. 

Channel Enthusiasm

Do not get trapped in your head with reasons why someone may decline your services! Kick those thoughts to the curb and focus on the positive outcomes.

“As you think about the borrower’s experience, be aware that they may have many other big events and challenges happening at the same time, mixed with their excitement,” Dowd said.  

So, think back to a time when you were very excited to invest in something. What were you feeling? What was the situation? Why did you react this way? Then, transfer these elated emotions to your sales prospects. After all, you serve as that person for them since they are ultimately choosing to invest in your business. 

Mindset is key in creating a smooth customer engagement experience. Also, you are able to bring the same level of joy and relief that you felt to your own prospects as you move forward. 

Bottom line

Being a loan officer means prioritizing your customer engagement experience. So, develop the communication skills you need to get started. 

Make sure to personalize the borrower experience, one that fits their needs. After all, it’s no longer just about a transaction, but strengthening the relationship. Loan officers must adapt and evolve to ensure that their customers can engage in a way that works best for them.