Strategies for Retaining Your Best Sales Managers and Loan Officers

Great mortgage companies are built with exceptional people!

Exceptional Sales Managers and Loan Officers are extremely important in order to build a great company. Why don’t companies work as hard to retain them as they do to recruit them?

While a great opportunity may exist within your organization, too often, successful mortgage sales professionals feel they need to change companies in order to advance their careers.

We know that mortgage sales professionals compete on price, products, and service. Failure to be competitive in these areas will lead sales professionals to make a change. Additionally, money and compensation are critical to sales professionals. However, these are not the only factors that determine whether they want to work for your company or your competitor.

Three motivating factors for retaining your best sales professionals:

1. Company Vision and Culture:

Many exceptional sales professionals want to be part of an organization that has a clear direction, purpose, and culture of excellence. Being part of something bigger can be a motivating factor for making a change.

2. Position:

The specific opportunity and/or challenge of the position may be the motivation for the exceptional sales professional. Building a team or accomplishing a goal can be exciting and a motivating factor for making a change.

3. Potential:

One of the most important needs that exceptional mortgage professionals have is a desire for upward mobility. Whether that means a promotion with a significant title and more responsibilities or the opportunity to significantly increase their income in the same position, potential is a big motivating factor as to where they work.

In order to retain your best people, start by putting yourself in their position. Find out what motivates them and what they’d like to do to advance their careers within your company. Otherwise, they may take their talents to your competitor.

Loan Academy is a leading mortgage industry-recruiting firm that works with top lenders that offer opportunities that are most important to mortgage professionals. Our mission is to positively change lives by connecting exceptional mortgage professionals with leading mortgage lenders that maintain a culture of excellence, trust, transparency, and work-life balance.