“Be an expert in what you do,” says Consumer Direct Mortgage’s Erik Elsasser
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“Be grateful and supportive of your teammates no matter what role they play in the loan process” has been one key to Erik Elsasser’s success. A top originator and senior loan officer at Consumer Director Mortgage, Elsasser closed $255 million in loans in 2016, and today he shares with Power Originator the keys to his business.
Power Originator: How long have you been in the mortgage business?
Erik Elsasser: Nine years.
PO: How did you get started?
EE: I was let go from Bank of America’s wealth management division when they bought Merrill Lynch, and the whole building became the online mortgage division. They gave some the opportunity to stay on as a mortgage loan officer if we were willing.
PO: What marketing strategies have you found success with, as well as your new client acquisition or retention/upsell strategies?
EE: Online rate tables, referrals and repeat business. Just being direct and up front on what we offer and having the confidence that I know what I am doing, and have the best processing and underwriting team in the business.
PO: How do you use technology to help you focus on selling?
EE: Everything we do is driven by technology – from the leads that our customers come to the online portal for e-sign and document hosting, and even now we are starting virtual closings online as well with our affiliate title company.
PO: What has been the key to your success in recent years?
EE: Ability to multitask and respond to customers immediately. You have to be able to submit new loans while managing a pipeline of existing loans so they close.
PO: What advice would you give mortgage brokers today to grow their business?
EE: Be an expert in what you do. Always listen to what the customer wants and needs, but you are the guide in this business that can help them attain their goals. They have to know you are an expert and can rely on you.
