For over 25 years, I have heard loan officers complain that their rates are not competitive. One of the first questions buyers ask is, “What is your price today?” For too long, the industry’s focus has been on standards—not on what is the best financial decision for the borrower.
Many salespeople sell quality because they believe it is how deals are won. What I’ve learned in 25 years in mortgage origination is this: loan officers don’t win by selling value—they win by educating borrowers about their options and aligning those options with the borrower’s long-term financial goals.
Do you remember all the commercials of “No Points, No Fees” debts? That sells. That is not being a Trusted Real Estate Advisor.
So how do you build trust? Trust is earned, and the most effective way to earn it is through education—by presenting multiple loan options and helping borrowers understand the financial implications of each. Introducing a single measure, in my opinion, is a waste of time.
To properly educate borrowers, you must first understand their full situation and the assets they are financing. How do you do that? Quite simply—by asking thoughtful questions, then asking follow-up questions.
Let me give you a real example.
I once got a call from a rate broker who called himself an investor. His first question was, “What is your price today?” He told me that he wanted to buy a house with no points, and a loan with no fees.
My first answer was simple:
“I have 14 different prices today—and that’s just one product.”
My second question was more important:
“How long do you plan to have a home?”
He told me he plans to keep it for 30 years, pay it off, and use it as part of his retirement income. That one answer changed everything. That was valuable information.
I asked him to send the quote he got from another loan officer so I could do a side by side comparison and offer more options. I also bring him into my office so I can fully show him the money. He agreed.
Fifteen minutes into reviewing the options, his first statement was:
“I have used it five times in the last three years.”
He repeated three times.
Why? Because I showed him the long-term benefits of buying a ratio and saving interest over time. With the first loan alone, the savings exceeded $54,000. He then asked me to review the other three loans to see if a refund made sense.
Forty-five minutes later, he walked out of my office with a savings of over $200,000 in interest—and committed to making four loans with me. He never contacted another loan officer.
Why?
- Because I asked the right questions. Disclosure is important.
- Because I have presented five loan options. It was no longer about price; it was about his financial strategy
- Because I allowed him to do i they are educated decision.
Discussion and education build relationships—and ultimately create a powerful source of referrals.
To him, I was not a salesman selling value. I was a Trusted Real Estate Advisor.
The software I use makes all the difference. It was fully transparent, clearly explaining all fees and providing a comprehensive financial analysis—including return on investment over time.
At the end of the process, the true measure of success is not just closing the loan. That if a borrower can confidently refer their family and friends—knowing that they are being guided by a trusted professional.
That’s the difference between selling and being a Trusted Real Estate Advisor.
Randy Senzig is the founder and CEO of LANIS Group LLC.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: [email protected].
