Recruiting mortgage professionals isn’t easy, especially in the highly-driven sales environment like the mortgage industry has to offer. Since the mortgage industry has to climb back to life in the spring, we don’t hear about people having trouble finding leads anymore. Now, we hear about how hard it is to find good people to originate and process loans.
The problem …
Training new LOs and processors can be a daunting task. With all of the necessary licensing requirements, sales training and acclamation into your business, it can cost you valuable resources. How long does it take to effectively train someone in sales? Years? How about processing all that paperwork to complete a loan packet? Months? Anyone who has grown a mortgage business knows this and also knows how tough it can be to find good quality people, let alone someone with the capacity to understand what it takes to be successful in this industry. And for some reason, there is always that company that seems to have people knocking down the door to get in.
How do they do it?
For a few years now, there has been a quiet group of mortgage professionals that are amassing an army of people to work for them. The simple, yet absolutely necessary, solution is to go after people who are already in the business and not happy with their current employer. Take this to the bank. This is how every major mortgage company in the country has been growing. These people are already licensed, already know how to sell, already understand how to package loans for underwriting, and won’t cost you valuable time and money on training. Now the only question is how do you find these people? And once you do find them, how do you know when they aren’t happy with their current employer?
The secret to this is repetition. If you could find a way to stay in front of thousands of mortgage professionals and let them know that you are there if they ever need you, they will remember that when the time is right for them. How are you going to stay in front of thousands of mortgage professionals at a reasonable cost? Now that’s the $1 million question!
The solution …
E-mail marketing is the solution you’ve been waiting for. Get your message out to thousands of people in just minutes, target by specific industry, geography and spend the least amount of money possible. We all know e-mail marketing is cheap. It’s one of the cheapest forms of marketing available. And the reason why it works for recruiting is because it gives you the ability to target people at their place of business. Especially when they are not getting what they want from their current employer! Think about it, what’s the first thing you do when you get into work? Check your e-mails? And if you’re having a bad day, don’t you spend more time going through the spam file than you normally would? So does everyone else! You cannot just delete your spam file anymore. There are lots of important e-mails that accidentally get put in the spam folder.
Here are a few tips to ensure success:
►Use a reputable company. Utilize a company that already works with mortgage professionals and has done this type of recruiting before so you know you are getting in front of the right people.
►Repetition. This type of recruiting only works over time. Don’t expect your phone to ring off the hook like a direct mail campaign right out of the gate. Utilize split testing and fine-tune your message over time to increase your results. There are companies out there that offer monthly e-mail campaign plans that are very inexpensive and are willing to walk you through the process and explain how to get the best results possible for your business.
►Track your results. Make sure that you will have access to reporting tools so that you can see how your campaign is going after each blast.
How much money is one good LO worth to your business? What about a really good processor? Don’t waste your money with those online resume search sites. They don’t give you the quality that you’re looking for. They will take your money, and they will get you resumes, but don’t expect that you’re going to be able to recruit as many people as you need in a timely fashion. The mortgage industry is a volatile one. When times are good, you need to recruit good people and the time is NOW!
Now, YOU control the speed at which your company grows. Don’t let hiring professionals stand in the way of your success any longer. E-mail marketing will get you in front of the right people at the right time. Spend your time doing what you do best and let your marketing e-mails do all of your recruiting for you. You’ll get responses from qualified mortgage professionals who will want to meet with you. This tried and true method is the most basic, inexpensive and practical way to recruit good people. Those who have already figured it out early on have been using it successfully for years. NOW is your time …
Medford, Ore.-based TagQuest is a full-service marketing firm created specifically for the ever-changing business world. TagQuest assists companies with their direct marketing, advertising and branding needs, and knows what it takes to generate quality customers and, most importantly, how to retain those customers for years to come. TagQuest brings forth a unique opportunity to utilize our experience and expertise in varying consumer sales and marketing environments. For more information, call (866) 376-5540 or visit Tagquest.com.
