That’ll see new opportunities and challenges for brokers and LOs looking ahead. “When rates come down, people will refinance for sure, and they’ll be more confident to go out there and buy a house,” Nguyen said.
“I always advise my agents that they need to become a better loan officer because competition is going to heat up more and more. Things will not get any easier – so becoming a better loan officer or better agent is the only way, and the best way, to grow our business.”
Top of mind for Nguyen, he said, is pushing loan officers to maintain regular contact with their clients, whether through emails, texts, or invitations to catch up in person.
That should be a “minimum” for LOs and brokers hoping to thrive in the busier market that’s on the way. “Everyone has to do the same. Everyone in this industry has to stay in front of their clients all the time,” he said.
“Otherwise, other loan officers, other realtors, will steal your clients. There’s nothing to hold your clients with you – the client is going to go with someone else when they’re [introduced] to another loan officer.”
