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

Trevor Hammond, NMLS# 74846 Division Vice President, Neo Home Loans 📞 (503) 680-5360 📧 📍 4380 S Macadam Ave, #150, Portland, OR 97239 🌐 Connect with me on LinkedIn:
This entry was posted in Balance, Business, Career, Commitment, Customer Service, Freedom, Fulfillment, Knowledge, Leadership, Learning, Marketing, mindset, Money, Priority Management, Sales, Time and tagged , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply