Financial institutions just love to hand out loans, don’t they? More often than not, you have to convince someone who does not think they need a loan to see the sense in taking out one. As a loan officer, this is the biggest part of your job…getting your client to take a loan.
Like most service-oriented industries, you must have a few tricks up your sleeve if you are going to close a loan. Whether it is a mortgage loan or a personal one, an auto-financing loan or home renovation, you will need to convince your client why they should take the loan with your institution and not the competition. The client must be made to see that your services will be to their advantage and that they can trust you to give the worthwhile advice.
The best place to begin is to learn your client. This does not mean you go CIA on them, but it pays to determine what type of loan they might need that will best serve their needs. Naturally, you will also need to be sure that they can pay the loan back. Before you get to explaining Lån på dagen to your prospective client, you should at the very least ensure that you have secured their business.
Now, how do you make this happen?
- Sell your brand
You are a brand. Before your prospective client accepts the firm you represent, they have to accept you. You have to sell yourself to them first. Once you have presented your warm, sunny, friendly self and they are willing to listen, give them your best sales pitch.
Another way you can brand yourself is by investing in a website. In it, you must include information such as:
- The services you provide
- Reviews from previous clients
- Resources that could give your clients more information
- The products that you present, if any
Placing an advertisement in establishments where prospective clients are likely to frequent is another way you could get your name out there. If you are targeting home buyers, the perfect place to advertise your services would be real estate firms and agencies. Business people and accounting firms are almost synonymous. You could the information out to them by leaving a few fliers about. Additionally, everyone falls sick once in a while. As they are waiting their turn at the doctors, they always have time to look through the magazines and fliers on display.
Then of course, there is the social media. LinkedIn, Facebook, Twitter and even Instagram are platforms that many business people and service providers use to advertise their business. It would do you a world of good to make use of such platforms.
Also, get around. There are always community gatherings that you could attend and network. Having a general conversation about buying a home, for instance, might get a lot of first-time homebuyers opening up about their struggles, maybe in trying to raise enough money to buy their home. You have a chance to provide a solution.
- Let your business be known
You cannot make any headway by hiding what you do. Let it be known that you are a loan officer. People are always looking for finances for different reasons:
- To buy homes
- To raise capital for a business
- To expand an existing business
- To buy out a company
- To buy a car
- To develop property
You will almost always run across someone who could do with a loan. However, you will never know this unless you bring it up in a conversation. Whenever you find yourself in the company of a group of people, make sure they know what you do. You will be surprised how many useful contacts you can make just by doing that.
Seek out professionals in order to build a referral network. Real estate firms may have a list of clients who have enquired into the possibility of getting funds to buy homes. Car dealerships may have the same information: interested buyers who want to get auto loans to buy their cars. The dealers can recommend them to you. Accounting firms and local appraisers can also give you useful information. Appraisers know which local real estate firms are selling the most homes. You could also link up with such service providers and do some cross-selling of each other’s services. This way, you can refer anyone who comes to you for a loan to the realtor and vice versa.
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- References
You could ask your current clients to refer you to their friends, acquaintances and family. If they are satisfied with your services, they will be more than willing to do so. Word of mouth works wonders because there is a level of trust in that a friend or family member recommended your services, so they can vouch for you. One reference usually leads to the next one and before you know it, you have quite the network.
- Build trust with your customers
Offer topnotch services; you will always have a line of satisfied clients. Should misunderstandings arise as they sometimes will, because of logistics, handle them with gentle understanding. The customer really does not know much outside of what you tell them. Always make sure that your clients are fully informed and answer any questions that they raise with honesty. Integrity is imperative in this business.
- Customer care
One way to keep your customers singing your praises is to stay in touch with them. Touch base once in a while. Send them birthday cards and holiday greetings and let them know that you value their business. Also, keep them informed on the progress of their loan. You could also make sure that they are aware of any new products that the firm you represent introduces into the market. Good customer services keep your customers feeling appreciated.
In addition, it wouldn’t hurt to send a thank you note, text or email once in a while.
In simple words, ensure that you get to explain the Lån på dagen because this will mean that your prospective client has crossed over to fully fledged client ready to fill in the forms and enjoy the services that you promised you will deliver.
