With everything going on in the world today, professionals across the board—including mortgage loan officers—are feeling the pressure. One way they’re dealing with the added strain is by leveraging virtual assistants (VAs). In fact, more and more brokerages are turning to virtual assistant services to fill out their staff with experienced professionals capable of handling a variety of tasks. Let’s discuss how a VA can support your local loan officer and shake up the industry for the better.
Time is money
In real estate, the old cliche “time is money” is as true as it gets. Getting started, it’s important to understand that a VA could never replace the role of a loan officer. A VA is best for a company when combined with its existing workforce as a supplement to facilitate growth. They do this by learning how you do business, fitting in with your team and performing like they’re just down the street rather than across an ocean. The perfect VA will be doing the work that was slowing down your local team. There are always tasks that are a bit less top-level or expertise-specific, which can often be handled remotely, so why not have someone outside the office knock out that busywork so that your local staff can focus on being the experts they’re meant to be?
Below are the tasks that will differentiate your loan officer from the virtual assistant:
- Quote interest rates
- Interact with clients
- Go over different loan programs
- Shop different banks
- Negotiate point fees
- Complete additional in-person or specialty tasks
- Compile information for the loan application
- Research and correct errors in applications
- Review documentation
- Order appraisals
- Complete the loan package
- Review title
- Send reminders
- Complete any other paperwork/data tasks that can be done online
It’s a win/win
As you probably noticed from the different duties across both lists, the VA is like a supportive lifeline. A loan officer has a lot on their plate and can often feel stretched thin, especially when juggling different clients. Having an experienced virtual assistant on your team to back them up is a win/win for everyone.
Daniel Ramsey is the founder and CEO of MyOutDesk, rated No. 1 virtual assistant service by TechRadar. With over 6,000 clients and 700-plus verified five-star reviews, he helps businesses gain indispensable leverage with virtual real estate professionals.
To learn more, visit www.myoutdesk.com/services/.