Niching Down as an LO

When you're first starting out in the loan officer game, it can be tough to know how to niche down. After all, you don't want to pigeonhole yourself so much that you can't take on new clients, but you also don't want to cast such a wide net that your marketing and messaging becomes diluted. So where do you start? Here are three ways to help narrow down your audience: geographically, by clientele, and by product. Once you've figured out who your target market is, it becomes a lot easier to focus your content and create a strategy that works for you!

Geographic

If you're not sure where to start, why not try geographic niches? Clients and realtors often prefer to deal with a local lender who already understands the local market. If you live in a small town, for instance, it might make sense to focus on local businesses. You can get involved with the Chamber of Commerce or other business organizations and really become known as THE loan officer in your area.

Clientele

Another way to focus your efforts is by clientele. There are all sorts of different types of loan programs out there, from FHA and VA loans to conventional and jumbo products. Each type of program has its own set of guidelines and requirements, so it's important that you understand the ins and outs before trying to market yourself as a specialist. Once you've got a handle on things, you can start targeting your content towards first-time home buyers, veterans, or even luxury buyers.

Product

Perhaps the easiest way to niche down as a loan officer is by product. There are all sorts of different types of loan programs out there, from FHA and VA loans to conventional and jumbo products. Perhaps you're an expert in a certain product and know considerably more about getting those loans done than most loan officers. Don't be hesitant to tell others why if you specialize in FHA, USDA, or investment property loans. Each type of program has its own set of guidelines and requirements, so it's valuable when you can market yourself as a specialist.

Once you've established your niche, see how your services connect to your audience's requirements then work to tailor your training and focus to better serve them.

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