5 Tips For Recruiting The Right Loan OfficersMost loan processes can be done online, but many people still want human interaction when it comes to getting a mortgage. That desire is what makes loan officers (LOs) invaluable. . While you can hire just about anyone to fulfill that need, the right people will do so much more for your team. They won’t just grow the business; they’ll help you grow your culture.
The right LO is out there, and they’re looking for the perfect fit, too. So how do you get them on your team? It’s all about the way you recruit. These five tips will help you find and attract the right candidates for your business.
- Focus On Character It’s not all about numbers. In fact, at QLMS we believe that money and numbers follow, they do not lead. Many businesses make the mistake of focusing solely on a person’s book of leads or years of experience instead of the person’s character.
- Do A Self-Check Someone may have everything you want in an LO, but does your business have everything they are looking for in an employer? Remember, you aren’t the only one trying to determine if the job or person is the right fit. Your candidate is, too.
- Get A Custom Recruitment Consultation Our Pinnacle partners can improve their recruiting efforts and get insider advice by scheduling a QLMS recruiting consultation with a top recruiter or leader at Quicken Loans.
- Build A Recruitment Plan Recruiting isn’t something you just “wing,” especially if you want to attract great candidates. Once you complete the above steps, put a plan in place and make sure it includes the following:
In episode 6 of our “Stronger Together” podcast, Austin Niemiec, Executive Vice President of QLMS, spoke to the cofounders of PrimeLine Capital, who shared what they look for when hiring LOs. Of the characteristics mentioned, they emphasized ambition, coachability, positivity and, most importantly, an eagerness to embrace and build the team’s culture. This is a key trait for anyone who gets hired at Quicken Loans, as culture is an integral part of our business and a major reason for success.
Juliette Mochol, a recruiter at Quicken Loans, interviews several potential LOs daily and has found common characteristics they seek in a potential employer and also what draws them to Quicken Loans.
“People are looking for culture and growth,” she says, adding that it’s also our top-notch technology that attracts candidates to Quicken Loans. “Everything we create is in-house and streamlined. It makes our LO’s job easier, so they can focus on what they do best.”
Before you begin recruiting, evaluate your business offerings. Are your benefits matching what LOs want and need?
“Our consultation is tailored to each individual partner,” says Mike McDermott, senior recruiter at Quicken Loans. “There isn’t a structure that supports every business model, so we’ll work together to uncover how we can best support your hiring needs.”
The consultation is 1 hour and can be broken into two parts. “The second session is great for partners who want to ease into hiring and would like feedback as they go,” says McDermott.
The consultation doesn’t end there. “After the consultation takes place, we create a customized recruiting game plan filled with process recommendations and tools that you can leverage to hire more effectively,” adds McDermott. “We want our partners to feel confident in their ability to identify talent, navigate the recruiting process and create a pipeline of qualified candidates with ease.”
While typically done over the phone, recruiters are happy to meet face to face when partners are in town. If you’re interested in taking advantage of this service, reach out to your Account Executive to learn how.
- Business needs
- Recruitment goals and timelines
- Job description
- Resources and budget
- Outreach methods
- Hiring process and candidate selection
- Job offer and next steps
Referrals, especially in this industry, are also a great resource. Your team members will be your biggest advocates if they love where they work, so ask those on your team to refer people who would be a great fit.
Let QLMS be your ultimate recruitment resource. Along with custom recruitment consultations, we have several online resources, including a podcast and an educational blog. Partner with us and you’ll have a dedicated Account Executive who can provide advice on many topics, including recruitment. They’re especially knowledgeable in finding team members who champion a business’s culture. As QLMS team members, they carry this valuable trait themselves.