Skip to main content

Time, And Time Again

Recruiters say time is their worst enemy. Here’s how to change that.

Dave Hershman headshot
Insider
Dave Hershman
Time management

Where are you going to find the time to recruit? Do you have a full-time job without recruiting?  Do you already work plenty of hours each week?  Where is the extra time going to come from?  

From the week(s) you lose when you have an opening and have no idea where to look.  That is the worst vantage point to be recruiting from.  We will call that the desperation approach. 

From the time you spend working with, trying to fix and finally replacing the wrong people hired, because you did not have time to recruit according to a plan. Nothing is more expensive than hiring the wrong people and dealing with the consequences. Think about the last time you hired the wrong person and the time you wasted. 

From the time you will save creating synergies as you implement the plan. You will not implement a plan merely because it represents good business sense. The day after you make the commitment, the fires will start and the plan goes on the shelf. The only way that you will follow through with implementation is if you receive short-term benefits that help you with other aspects of the job.

An example of such a short-term benefit? How about increased production? This is exactly why we suggest that you focus upon referrals from other loan officers as a valid reason to make the appointment. This is more likely to entice the candidate and produce secondary benefits. 

Mesh Your Goals

The real key to finding the time is creating real synergy with your other objectives. 

Set up reciprocal relationships. This will put you in position in the long run. The more loans they send to you, the stronger the relationship will become and the more likely they will realize the benefit of making a change. Obviously, this is a long-term approach, but recruiting the right people is a long-term proposition. You are less likely to hire the wrong person if you know them well over a longer period of time. 

It will help to have a definable niche as part of your production marketing plan. Limiting your focus puts you less in competition with other originators and facilitates the referral process. The rules of synergy marketing require that you focus deeply, instead of more widely.  

How might networking among your competition help you increase your knowledge about the industry and your competition? How can that knowledge help your loan officers perform their job? The deeper your conversations, the more likely you will garner information which will help you and your direct reports in the future. 

How might implementing the plan help improve your management skills? Learn what other managers are doing to become successful as you build an informal benchmarking process. Again, this requires going deeper and asking questions. Asking open-ended questions is a key within the sales process. It is no different within the recruiting process. 

Close more loans, be more efficient, stay out of trouble.

Find more at Pro School
This article was originally published in the NMP Magazine June 2021 issue.
Dave Hershman headshot
Dave Hershman

Dave Hershman is an author for the mortgage industry with eight books and several hundred articles to his credit. He is also senior vice president of sales for Weichert Financial Services, head of OriginationPro Mortgage School and a top industry speaker.

Published on
Jun 19, 2021
More from NMP Magazine
How to Make Sure You Don’t Get Audited

And what steps to take if you do

Bridget Weston
Your Word Is Your Bond

What it means to develop a company or office culture

Dave Hershman
What To Do When You Have Too Much To Do

Business rush can lead to burnout. Here’s how to cool things down.

Erica LaCentra

Webinars

Entering a Hot Market: What New Brokers Really Need to Know

As the mortgage industry shifts away from the refinance boom and pivots towards the high demand of purchase or...

Webinar
Jul 15, 2021
Investor Confidence in Today’s Non-QM And Why Originators Are Paying Attention... A Virtual Town Hall

We host Angel Oak Mortgage Solutions for a special 2021 edition of their virtual town hall series they ran fro...

Webinar
Apr 08, 2021
How to Help Real Estate Pros in a Post-Refi World

Hear from Melissa Merriman, REALTOR® with The Melissa Merriman Team at Keller Williams, on what real estate pr...

Webinar
Mar 18, 2021
Highlights
NAMMBA Announces Partnership With Clear Capital

NAMMBA announced a partnership with Clear Capital as an important sponsor in their effort to create a more diverse workforce. 

Analysis and Data
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Mortgage Rates Ease Upward

Freddie Mac's Primary Mortgage Survey reported that the 30-year fixed-rate mortgage averaged 2.80% for the week ending July 29, 2021.

Analysis and Data
Connect with your local mortgage community.

Meet your your colleagues, both national and local, by attending an event in your area.