The Trap Loan Officers Don’t Realize They’re In (and Why It’s a Good Thing)

The Trap Loan Officers Don’t Realize They’re In (and Why It’s a Good Thing)

Loan officers (MLOs), you might not realize it, but you’re in a trap. And trust me, it's a good one—one that leads you in the right direction.

Here’s the deal: when I ask MLOs, "Do you want more referral partners?" not a single person says no. Why would they? More referral partners mean more referrals, which means more deals closed, and ultimately, more money in your pocket. It’s natural. We all want more money. There’s no need to sugarcoat it.

But here’s the million-dollar question: how can MLOs actually get more referral partners?

The One Simple Answer: Networking

Like it or not, the answer is simple: networking.

Whether you do it online, at events, through social media, or face-to-face, networking is the foundation that can drive your business forward. The more you network, the more people you connect with, and the more referrals you can generate.

What’s even better is that referrals can be the foundation of an empire. Think about it: the return on investment (ROI) on referrals is essentially uncapped. A single solid referral partner can lead to a steady stream of deals. If you nurture enough of these relationships, your business can grow exponentially—without chasing cold leads or pouring endless money into marketing campaigns.

The Catch: Networking Isn't Easy for Everyone

Here’s where things get tricky. Networking, as powerful as it is, doesn’t come naturally to everyone. Some MLOs struggle with the idea of putting themselves out there, whether it’s due to lack of time, confidence, or just the uncertainty of where to begin.

But let’s say, for the sake of argument, that networking was easy for everyone. Now, we’re faced with another problem: consistency.

The Real Challenge: Consistency

Consistency is the game-changer. Networking, in itself, isn’t a “one and done” strategy. It’s something that needs to be done regularly and intentionally over time. Nobody can make you be consistent other than yourself.

As humans, we tend to sabotage our own goals, often letting fear, distractions, or short-term failures knock us off course. Without consistency, even the best networking efforts can fizzle out before they bear fruit.

So, you’re left with two choices:

1. Be the MLO who networks consistently for years, building strong relationships and a referral network that will eventually sustain your business.

2. Or, implement systems in your business that network for you—consistently, automatically, and at scale.

The Power of Systems: Your Shortcut to Success

Here’s the exciting part: we live in a world driven by tech and AI. As an MLO today, you have access to tools that make it easier than ever to automate your networking efforts. Systems that can consistently reach out, follow up, and nurture relationships with your referral partners.

By leveraging these systems, you essentially let technology do the heavy lifting for you. You’re still building relationships, but now you have help to keep things consistent. Consider yourself lucky because this wasn’t possible even just a few years ago. Today, MLOs have the easiest route to success in history.

The Bottom Line: What Will You Do Now?

So here’s the question you need to ask yourself:

• Will you commit to networking consistently?

• Will you leverage the power of systems and technology to do it for you?

• Or will you do nothing and stay in the same place?

Both paths work. You just have to be consistent.

Now, it’s your move.

Want to implement systems to grow your network. Start here.