Elon Musk knows what it’s like to be a Loan Officer in 2024.

He just had to lower the price of the model Y to it’s lowest price ever.

Same car… half the price.

Most of the 100M+ producers are in the same boat.

Same LO… half the production.

Elon Musk is playing for market share.

And, that is exactly what Loan Officers should be doing.

Over 50% of the Loan Officers in 2022 have left the mortgage industry.

This means that there will be market share that is up for grabs.

But, it won’t just come to you.

You will have to do things to get it.

The things you need to do will have to be different than what you are used to doing. They will probably be much different than the things you see other LOs doing. They may even be different than the things that your coach is currently telling you to do.

Why? Because the stuff that used to work has stopped working.

The game has changed. The only Realtors doing business now are in the top 5%. They are entrepreneurs and they are good at sales. For this reason, they know when they are being sold. They know when a Loan Officer is trying to get referrals from them. 

There are too many LOs “adding value.” Agents no longer consider this “value” valuable as this information is everywhere now.

Yes, you need to be good at your job and close the loans they send you. But, most LOs can do that.

Getting referrals from the agents in the top 5% is a different game.

When a Realtor looks at your personal brand, they will ask themselves.

“Does a Realtor like me, send business to a Loan Officer like that?”

If there is a brand mismatch… you won’t get their referrals.

For the Loan Officers who want to make good money going forward, they will need to look like someone the top 5% of Realtors work with. This is not as difficult as you might think. But, it does take intentionality and the right strategies.

For the past 2 years, the Loan Officers in my program have been building their personal brands locally. I knew back in 2022 that market share was going to be the way of the future. For this reason, many of them are still closing more than 6 deals a month.

Sure, this is less than what they used to be closing. But, volume is not what you should be focusing on right now. The number you should be looking at is your rank. What percentage of the Realtor referrals in your market are you getting? Increasing that number by even 1% can result in doubling your income. 

Imagine what would happen if you could increase your share by 5%…

I help Loan Officers build profitable personal brands. Click HERE to see if I can help you.