While many loan officers have some autonomy over how they generate business, their success has a lot to do with their branch manager. After all, it’s the branch manager who calls the shots, solves problems, establishes the sales culture within the office, and makes sure loan officers have the tools and resources they need to thrive.
Most branch managers have spent significant time in the mortgage business and know what they’re doing. But not all branch managers are created equal. Some are slow to act when loan files need approval or “pass the buck” when problems arise, which can erode a loan officer’s confidence. Others micromanage staff and salespeople, which stifles the creativity and energy needed to sell loans.
But a good branch manager can have a huge impact on a loan officer’s career. Here are several reasons why.
They Focus on You
While many mortgage branch managers are also producers, every branch manager must also take responsibility for the success of their team. The good managers care about every person in the office. They also know how to engage loan officers, understand what makes them tick, and help each one maximize their potential. The really great managers can help a loan officer identify and leverage his or her strengths while spotting and improving upon any weaknesses.
Good branch managers are not only great listeners, but they are excellent communicators, too. That’s important when expressing their own expectations about the sale team’s performance and relaying information from the company’s owners or head office. The very best managers, however, will not only clearly articulate their expectations but will also make sure the sales team has the support and resources to meet those goals.
They Know How to Succeed
Many branch managers have been top producers and know how to sell loans in different lending environments. When combined with great communication skills and a willingness to share their expertise, experienced branch managers can help loan officers navigate the ups and downs of the market. A good branch manager will also share new sales strategies and insights, and always be thinking of ways to give their sales team an edge over the competition.
They Take Responsibility
There are no shortage of challenges when it comes to selling loans. Newcomers to the industry often have trouble understanding and feeling comfortable selling a wider range of mortgage products. Even veteran loan officers frequently encounter situations they haven’t seen before, just because no two borrower scenarios are ever the same.
When loan officers run into roadblocks — or when they are about to — a good branch manager will either proactively reach out to help or find an alternative solution to the loan officer’s problem. This applies to any situation, whether the issue involves a change in a borrower’s circumstances or trouble using the company’s technology.
At Embrace, we know how important branch managers are to a loan officer’s career. That’s why we are so committed to recruiting and developing the very best branch managers in the industry. We make sure every manager can create and maintain a positive sales atmosphere and coach and mentor new loan officers to be the best they can be, all the while staying on top of housing market trends and changing rules and requirements. Most of all, we make sure the manager is focused on providing an excellent experience to every customer.
If you would like to learn more about how we do things at Embrace, let’s talk.