Recruiting the best LOs, part 3: Contacting

After you've found appropriate prospects for recruiting, the next step is setting up the meeting

By David Lykken
Special to MPA

 

This week, I've been recapping a conversation I recently had with Casey Cunningham of XINNIX. Casey and her team offer a very popular workshop for the mortgage industry on recruiting, and she was gracious to share with me some of the key steps in successful recruiting. So far, I've offered my thoughts on the first two – sourcing and profiling. Today, I would like to discuss the third step – contacting.
 
After you've found the appropriate prospects you wish to recruit and you've done adequate research to determine each prospect's fit for your organization, the next step is setting up the meeting. Sooner or later, you've got to reach out to the people who you want to become part of your team. Nothing ever happens until you make the phone call.
 
One important thing to note: you've got to be flexible with your schedule. Most of the loan originators you are seeking to recruit will already be successfully engaged in work for other employers. You'll want to be respectful of their time. You wouldn't want your own LOs to sneak around in order to interview with other firms; you shouldn't expect anything else from the LOs of other companies. Try to schedule a meeting with your top prospects off hours--when there is no conflict of interest.
 
Regardless of what method you use to connect – whether you meet in person, arrange a phone call, or have a video conference, be proactive in reaching out. Don't just send an email and wait for them to call you. Show them you're serious and that you really want them as part of your team. Be the one responsible for setting up the meeting. When they're a part of your team and you experience the growth you desire, you'll be glad you took the initiative.
 
David Lykken is 40-year industry veteran who has been an owner operator of three mortgage banking companies and a software company. As co-founder and Managing Partner of Mortgage Banking Solutions, David consults on virtually all aspects of mortgage banking with special emphasis executive leadership development, corporate strategic direction and implementation as well as mergers & acquisitions. A regular contributor on CNBC and Fox Business News, David also hosts a successful weekly radio program called “Lykken On Lending” (www.LykkenOnLending.com) that is heard each Monday at noon (Central Standard Time) by thousands of mortgage professionals. Recently he started producing a 1-minute video called “Today’s Mortgage Minute” that appears on hundreds of television, radio and newspaper websites daily across America.