Step 1: Do 5 minutes of research - If you are like many good loan officers, you've probably spent countless hours working on your client's previous loan. Now, here we are two years later, and all you can remember about them is that they were married, and had two children. Take a moment to go through the past transaction they closed and refresh your memory prior to reaching out.
Step 2: Pick up the phone and call them! - Whether you saved their contact info in MonitorBase or you have it all in your trusty LOS, look it up and make a call.
Important! You don't need a super fancy sales pitch when you make the call, don't stress it! On your first call, you are just trying to reconnect. Start with something like, "Hi Susan, its been forever since we've talked! How have you been?" Then let them talk ... keep them talking. Don't dive into how badly you want to do another loan for them, or that you know that they recently applied with the local competitor. Just talk, and get back to having a relationship with them. Then, once you have reconnected, let them know why you are reaching out.
Step 3: Send off an email - Whether you reached them or just left them a voicemail, send them a quick email. Remind them of the conversation you had, or the voicemail you left, and keep it simple. Reaching out in multiple communication channels will make the importance of the conversation stick in their head.
Step 4: Follow up - People are busy, don't expect them to drop everything and start a loan application with you the first time you chat. Follow up two or three times at least until they have a moment to stop and think. You would be surprised how little follow-up your competition is doing in the market today!
That's it! If they are ready to move forward, they will tell you. Now just do what you do best and be a great loan officer!
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