Being a successful loan officer requires many skills. Some of them are obvious and you probably learned those in your training, but some of the other skills that can help you excel are often never taught — you’re expected to already have them or develop them naturally. People skills, in particular, can be a real accelerant for your career. Here are a few of the top people skills that can help provide a foundation for success for loan officers:
High-Level Communication
In a profession that demands close relationships with clients, as well as the members of your team, you need to be able to communicate at a high level — to be understood and to understand others clearly. This means being able to articulate your thoughts both verbally and in writing. Your communication skills directly influence how you come across to others, how effectively you can educate or persuade, and how well others comprehend your ideas. Speaking and writing are important, but listening effectively is of equal or greater importance. This means actively listening — without distraction, taking in information, and responding with thoughtful questions and comments. Being able to listen without interruption is a highly underrated skill. More on how LOs can be stronger communicators, here.
Empathy
Having the ability to see from the perspective of others and gain a better understanding of where they’re coming from can be very beneficial, both professionally and personally. Understanding other people’s viewpoints is crucial in the mortgage business, in particular. Without the ability to empathize, you’ll be less likely to understand your clients’ needs, work well with your team, and manage conflicts successfully. If this skill doesn’t come naturally, don’t fret — it can be strengthened with practice.
Leading
You may not be in a management position currently, but being a good leader can be of benefit in many other ways, and sharpening these skills can better prepare you for a leadership position in the future. Leading with authority, confidence, and respect is key to getting the best results from your team. Leadership also means being able to help others grow by motivating them. Strong leadership means you take initiative, know how to delegate, and know how to motivate and inspire those around you.
Staying Open-Minded
Particularly in the current climate, where conversations can quickly turn political and escalate, the ability to stay open-minded is invaluable. Loan officers need to be able to discuss other viewpoints in a respectful way and remain flexible and open in their interpretations and understandings of them. This is a key business skill. When you adopt stereotypical beliefs about your target audience or ideas about what your clients want, you don’t leave yourself any space to learn what they really want from you.
Not Taking Yourself Too Seriously
This last skill might seem counterintuitive for serious professionals, but a good sense of humor is a truly valuable people skill. A positive attitude and not taking yourself (or your opinions) too seriously will translate to smoother interactions with others. This kind of upbeat attitude increases your likability and helps others feel more comfortable engaging with you. A little levity goes a long way for both client and colleague interactions.
There are innumerable skills to master as a mortgage professional, but people skills should be near the top of your list. They can help you excel professionally and personally, improve your interactions with others, and contribute to your overall success.
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