Dear Loan Officer: Focus on the 80 Percent!

Dear Loan Officer,

Coming to you with a lesson from Brasada Ranch in Central, OR! I wanted to get a lesson out to you today from a book called Ninja Selling by Larry Kendall. It’s a great book for any sales career, and it addresses mindset, how the brain works and how we are perceived.

In the book, Larry cites a study that shares out of all prospective clients that come across your desk, a whopping 15% are looking for the best price. If you are the cheapest, you might get my business. Surprisingly, another 5% will be price, but for the highest price. This encompasses client thinking that, “If I pay top dollar, I will get top-dollar return”.

What does that tell us? That leaves 80%. Focus on the 80% client – the one that will pay your price, if you do a good enough job of expressing and articulating your value.

Read it again; if you do a good enough job of presenting your value proposition, your customer will pay your price.

If you win this customer’s business:
-Your hourly rate goes up
-Your enjoyment goes up, and you’re working with people that value what you bring to the table
-Your customer will likely take less of your time up
-There’s a good chance they will tell other people about you because they value your advice

The way to get there is this: look at your current loan pipeline now, and pick out the 15% that have been beating you up regarding the price. Figure out these clients ASAP, and clear them out of your world so you can focus on the 80%.

Then, relay your value proposition as best as possible to your 80% clients. Your income will go up, and your stress will go down.

I wish you all the best!

About Trevor Hammond

As a veteran of the mortgage industry, Trevor Hammond is the co-author of "Borrow Smart, Retire Rich," a Certified Mortgage Adviser and a founding Faculty Member and Contributor to the National Institute of Financial Education ( And he has provided thousands of homeowners with the clarity and confidence to make smarter decisions when it comes to their mortgages and money. In 2013 he launched an entirely new kind of mortgage company: Aspire Mortgage Group, which is committed to educating and empowering homeowners to increase savings, eliminate bad debt, and safely increase net worth. The specialized group of mortgage professionals at Aspire Mortgage Group have redefined what homeowners should expect from a mortgage company. To learn more about Trevor Hammond and our team of mortgage advisors please visit our website at or email Trevor directly: Aspire Mortgage is a Sierra Pacific Mortgage Partner.
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