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As a mortgage loan officer one of your jobs is to get the prospect to feel at ease with you. To get them to trust you so that they will tell you their intimate financial details. Many sales are lost simply because the prospect did get get a good "vibe" from the loan officer or felt their was some reason not to trust the loan officer or mortgage company. The easiest way to increase your closing percentage (the ratio of prospects to closings) is to get your prospects to genuinely trust you. Did you know that there has been more than one survey done where the public ranks loan officers only a little higher than used care salesmen and insurance salesmen in terms of trust? Put in another way, we have a serious credibility issue. The media does not help us much either. There are more stories on mortgage fraud and predatory pricing in the news than there are stories of all the good and charitable work the mortgage community does. In order to fight this, you need to get personal. You need to first of all get your prospects to TRUST YOU. You do this by establishing your credibility. 1. Use Testimonials. The more the merrier. Use pictures, audio and video if you can. 2. Join the Better Business Bureau or get your manager/owner to join. Then put their logo on all your marketing materials. It costs $400 or so a year, but it is worth it. 3. Join your Chamber of Commerce, and put their logo on all your materials. 4. If you are a member of your state's Association of Mortgage Brokers or Bankers use their logo and the National one as well. 5. Use the Freddie Mac and Fannie Mae logos. You can get them from their websites. 6. Use the HUD logo. This makes you look as if you are affiliated with the government and that brings peace of mind to consumers. 7. Get certified by NAMB and add some letters to your name. They have the following certifications: GMA - General Mortgage Associate, CRMS - Certified Residential Mortgage Specialist, CMC - Certified Mortgage Consultant. Taking these small steps can put your prospects' minds at ease, especially if you are a small shop without a big name. By affiliating yourself with these other big names, you can share in their credibility. Remember, prospects have to like you and trust you before they do business with you.
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