So much is said about the importance of creating value for our customers.  When you are building a career in an overly commoditized industry like the mortgage industry, it’s imperative that loan officers spend a lot of time figuring out how to be valuable to their clients.

I’ve often coached my loan officers that until your prospective client perceives that the value they will receive from you meets or exceeds the money they will pay for it, there rarely will be a deal.  This isn’t unique to the mortgage industry, as this is a key element in any competitive marketplace.

So, the real question is:  Who decides what is valuable?  Is it low rates or fees?  Fast response times?  Great communication?  Products?

Or, is it financial confidence?  Clarity?  New connections?  Solving problems they didn’t even know existed until they met with you?

Consider this:  Ultimately, the market decides who brings the most value.

That client who chose to work with the other mortgage lender (insert “other Realtor”, “other landscaping company”, etc.) ultimately decided that someone else would provide them the most value in exchange for their money.  That Realtor® that still sends all of their clients to the other Loan Officer just hasn’t come to the conclusion that the value you would provide exceeds the value they are already receiving.

So if your business, and the future success of your business, could be so dependent on the value you will provide, shouldn’t you be spending more time on defining that?

And remember…it’s not what YOU determine is valuable.  It’s what the prospective customer perceives as valuable.  If they need to adjust their perception of what real value is in some way, then you better get good at teaching them.