THE "ONE LOAN STAND"

Recently a fellow Loan Officer told me that they needed to increase their production and income in a hurry. While there is obviously nothing wrong with that, it was his plan that seemed a little askew.

His strategy was to make some "fast relationships" in order to reach his new production goals. Those with considerable experience in our profession, however, know that "fast relationships" rarely occur, nor are they usually very productive.

As we have discussed here several times, the chances of a referral source sending you business until you have spoken to them in person a minimum of five times is rare. Add to that the fact that for most people to really like and trust you usually takes anywhere from several months to a few years depending upon the amount of interaction.

Just as in the world of amorous relationships, the "fast relationships" rarely stand the test of time. So unless you are looking for a "one loan stand," please allow for proper relationship building time because something lasting rarely starts "fast."