Winning in Lending: Do You Use Last Impressions Right?

What’s more important, the first impression you make or the last? 

The answer is both.

The Fall

As a loan professional, you certainly want to make a very good first impression, especially if you want an opportunity to work with a referral partner or a potential client. Unfortunately, many people don’t focus on the last impression. They unimpressively limp across the finish line, ruining all the hard work they accomplished for most of the race.

 The Fix

Whether it’s you or a team member, somebody on your end needs to make a post-closing call to every one of your borrowers. After the dust has settled and they’ve moved into their new home, give them a call and congratulate them. Ask them how they’re doing and if they have any questions for you. More importantly, remind them of the role you’ll be playing in their life moving forward.

 The Role

Let the client know you will be managing their largest debt continuously. Additionally, based on your strong connections, express your desire to be a conduit to other finance experts, such as financial planners and insurance agents. Lastly, ask them a couple of very important questions.

The Questions

“What could I/we have done better during this process? Is there anywhere we did not exceed or meet your expectations?

 Most responses will be nothing but positive. In this case, you will thank them and let them know you will pass the feedback along to your team. But it’s important not to stop there.

 “I’d like you to think for a minute and tell me what or where we could improve. If you were to work with us again, I want to make sure your next experience is even better. And if you were kind enough to refer a friend or relative, I want to make sure we make you look good.”

 The Sad Truth

As impressive and powerful as those questions and statements are, most originators never make that call. Many may not even call the client to congratulate them. In many cases, the client doesn’t hear from the originator until rates drop and they solicit a refi. But you’re not going to make that mistake.

 The Last Impression

You’re going to make that call, and you’re going to have that conversation. Leave them with the feeling you are someone who cares, and it’s because you care that you want to improve your service. They deserve it, and so do their family members and friends. 

And that’s how you finish strong and make a great last impression.

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Remember that while numbers are quantitative, a good loan officer can also make them relative.