Why Loan Officers Don’t Succeed

The mortgage industry is growing older. More specifically, the loan officers in the mortgage industry are aging out while the number of youth is not replenishing the business.

So what's the deal with this trend? Many people are trying to figure out why so many are entering this rewarding sales career, but not making it past a few years if they are lucky.

What all of us at Direct Lenders, LLC want you to know is that you can succeed in the mortgage industry. It doesn't matter how young you are. If you are hungry for success and work hard to understand the industry then you can make it. Allow us to help you!

Leif Shaw

Loan Officer

How to Fail

The reason so many fail is because they go into a career as a mortgage loan officer expecting it to be instant dollar signs in the bank account. There has to be a sense of understanding when entering such a strategic career. Failure is easy to achieve. Here's how!

Give Up

Most loan officers who fail simply give up. It is the best way to end your career and it is so easy to do. We understand that when you first start out and have no agents to contact for business or don't know anybody who is in need of a loan that is a convincing reason just to quit. The lack of business can be fixed.

Don't Use Your Resources

In order to fail you have to completely waste any opportunity that you may have. There are so many great resources out there to help you succeed, such as social media and current industry professionals. You have to take control of your future and choose if you are going to waste your opportunities or not.

Work For The Wrong Company

Some places are not for everyone. It may be a good idea to start off at a bank where you will make less commission, but be guaranteed a steady salary and learn a lot of the basic skills needed to succeed. Tons of loan officers get a little overconfident and start with a lender who will pay you tons of money, but you are your business. Know where you need to be. Don't know? Contact us and we can help you find a home.

How to Succeed

Use Your Resources

Do not be too proud to sweep the floor! As a loan officer your resources are everywhere. Every place you go is a chance to strike up a conversation and pass along a business card. The overpriced gadget we all keep in the palm of our hand has tons of creative apps such as Facebook and Twitter that are great ways to promote yourself and find potential business. Don't waste the resources we all have.

Build Real Relationships

Majority of people like to be treated like a real person and will provide you with more if you show genuine interest in who they are. That doesn't mean never discuss work, but it does mean to know John, don't use John. When you care about a person and see what you can do for them the business comes. If you want to succeed then you need strong relationships that'll last!

Make Your Job Worth It

The best way to succeed in any job, but especially as a loan officer is to find value in what you do. Once you do that you will be able to push yourself to achieve more ambitious goals. As a loan officer you are able to help people achieve the dream of homeownership or allow people financial balance. Understanding the good in what you do offers an abundance of success.

Ready To Join Our Team?

Anybody who is legally allowed can pay the appropriate fees and take the test to become a loan officer. The key is working for the right company after you're licensed. That's why we believe it is important to work for us. Direct Lenders, LLC is always searching for quality and driven loan officers.

Email your CV to info@mydirectlender.com if you're interested in learning more about a successful loan officer career at Direct Lenders, LLC. We want to help you be the best!