Although a very nice living can be made as a loan officer, you still want to put some goals and objectives out there to shoot for in order to prevent burn out.
First and foremost you need to eat, so weekly goals are just as important as long term goals.
When I worked as a loan officer, I did a lot of cold calling. From Monday to Friday I cold called from 5:30pm to 8:00pm.
I called with an expectation of taking no less than three applications per night giving me fifteen applications for the week, with a goal of turning three of those fifteen applications into closed loans.
Experience in the mortgage industry is the key to your success and how far you can advance. So the more knowledge you gain and the more experience you have, the better off you will be.
There isn’t a broker of record in the mortgage industry who did not start out as a loan officer.
That is the beauty of this industry, and the sky is the limit. If you want to be the broker of record and work alone from a home based office, or open your own store and hire loan officers to work for you, it can be done.
It takes time and hard work, but it can be done.
And don’t forget about all the other avenues the mortgage industry can lead you down.
You will undoubtedly learn more than you ever imagined about tiles, deeds, appraisals, real estate, etc.
Just think of the opportunities this opens up for you and how nice it will all look on your resume.
