One definition of a transaction is that of a deal between two people with economic needs. Our customers have a need to borrow money and we have the need to earn a fair profit by meeting their economic needs.

However, the word "need" is a little strong for our side of the equation. We do not need the transaction as much as they do, but they also have a multitude of other choices so they don't really need us either. They need our services, not us. Or so they think.

This is why our "needs" in this case are not really needs but more like wants and desires. Most people are turned off by a needy person and your customers don't want a needy Loan Officer either. You want to help them with the transaction but your neediness will scare them off.

To avoid this pitfall and stand out from the crowd you must add a relationship with the customer to the equation because when you add a relationship to a transaction, you become a partner in the transaction.

Your customers want a partner, a trusted expert in their corner. But many of them don't think they need one unless you let them know. Because having a trusted source for borrowing money is usually higher on their needs list than finding an interest rate that is a 1/8% better. So add the relationship and you will find less shopping and more opportunity to meet needs!