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As a mortgage loan officer, you have a lot of responsibilities and wear many hats. Your role as an intermediary between mortgage borrowers and lenders requires a lot of behind-the-scenes work that many people don’t realize is even occurring. There are so many moving pieces involved in negotiating deals, ensuring everything is in compliance, and sharing your expertise.
However, do you have to do everything? To properly scale your business, one of the first things you must recognize is that you can’t do everything yourself. Your time should primarily be reserved for what you can do, such as the core services in your business that lead to revenue generation.
Therefore, if you’re ready to hand off some of your to-dos to someone else, consider a mortgage virtual assistant.
First, What Is A Mortgage Virtual Assistant?
In a nutshell, a mortgage virtual assistant is a self-employed professional who assists someone virtually. In the past, they primarily helped businesses with administrative tasks, but thanks to advances in technology, they can do so much more than that.
Because virtual assistants are usually independent contractors, they’re responsible for handling their own taxes, benefits, workspace, and equipment.
VAs are Fractional Service Providers
We like to think of virtual assistants as fractional service providers. Fractional service providers are experts who offer their services to multiple clients on a part-time or as-needed basis. In other words, you could get mortgage virtual assistant services without hiring someone full-time. By hiring an expert, you’ll get quality services without the steep employee price tag. Virtual assistants make it easier to generate more revenue without also significantly increasing costs.
Below, we’ll dive deeper into what they can do so you can start considering if a remote mortgage assistant makes sense for you.
Why Hire A Mortgage Virtual Assistant?
Aren’t really sure why a virtual assistant for mortgage lenders would be beneficial to your business? Well, not to worry! We’ve got some suggestions for you.
They Help You Refocus On Your Business Goals
If you’re currently wearing a bunch of hats in your business, you likely find it difficult to prioritize tasks that are aligned with business growth. For instance, while handling administrative duties is important, it takes you away from your core responsibilities.
Having a virtual assistant can help you pivot your attention to the more important to-dos associated with the mortgage process. Let your mortgage VA take care of the repetitive tasks while you complete the high-level mortgage-related tasks.
A VA Can Streamline Your Mortgage Operations
Highly skilled virtual assistants can find ways to simplify your daily tasks. As a business owner, you’re probably used to doing things a certain way, but that may not necessarily be the fastest way. They can suggest specialized tools and techniques that can help you save money and save time.
A Mortgage VA Can Also Help Your Employees
If you have employees, utilizing mortgage virtual assistant services could be a game-changer. Oftentimes, employees get bogged down with responsibilities that aren’t actually in their job description.
When this occurs, it drives down efficiency and productivity in mortgage companies. You want your employees to complete the tasks they were hired to do, as those are likely the things they’re good at.
A solid VA can take on some of their time-consuming duties so your employees can manage the core responsibilities mentioned in their job description. Leveraging your employees and virtual staff will put you on the road to enhancing productivity.
What Tasks Can A Mortgage Virtual Assistant Do?
The real question is, what canโt mortgage virtual assistants do?
Mortgage VAs can play a crucial role in your real estate business by taking on numerous tedious tasks that you don’t have time for. From administrative tasks and client management to personal to-dos, like lifestyle assistance. We’ll discuss in-depth what the best mortgage virtual assistant can do for you.
A Mortgage Broker Virtual Assistant Can Do Administrative Tasks
As a mortgage broker, it’s important to get all the details right when helping buyers secure their mortgages. Hundreds of details go into any successful deal, and mistakes in these details can be incredibly costly.
Many mortgage brokers and loan officers don’t have the time or energy to focus on these nitty-gritty details. This is where a skilled administrative virtual assistant for the mortgage industry can be invaluable.
Mortgage virtual assistants can:
A Mortgage Broker Virtual Assistant Can Assist With Customer Support
A house is most people’s biggest investment. Therefore, not surprisingly, this purchase is loaded with stress, and many buyers (especially first-time ones) need significant support and hand-holding through the buying process.ย In addition, other stakeholders in the process may need certain information to close the deal.
These customer support tasks can eat up a mortgage broker’s time. Fortunately, a great customer service virtual assistant can pick up the slack and develop trusting relationships with buyers, lenders, and more.
Mortgage virtual assistants can:
A Mortgage Virtual Assistant Can Do Social Media Management
A quick scan through Instagram, Facebook, and TikTok shows that many of the most successful mortgage brokers use social media platforms to find buyers.ย Unfortunately, most mortgage brokers do not have the time or energy to pump out attention-getting content on a daily or even weekly basis. Even if they can carve out the time, they simply may lack skills in this area.
A good social media virtual assistant for mortgage brokers can help you build your online presence and more effectively market via email and social media.
However, to do this well, the mortgage virtual assistant must:
Some of the social media duties a virtual assistant for mortgage loan officers can do include:
A Mortgage Virtual Assistant Can Help With Email Marketing
Did you know that more than 50% of consumers say that email marketing is their preferred digital channel for communication? This is huge, as individuals are becoming more and more comfortable with receiving brand communications in their inboxes. Email marketing can help nurture leads and turn them into paying clients, so imagine how much money you could be leaving on the table by NOT doing it.
At the same time, we know that adding email marketing to your already busy to-do list might not be possible. Fortunately, this is where a mortgage virtual assistant can step in.
Some of the to-dos an email marketing virtual assistant for mortgage brokers can do include:
Mortgage Virtual Assistants Can Provide Technical Assistance
The technical parts of being a mortgage broker can be incredibly time-consuming. These tasks also tend to be mundane and not exciting for many brokers. No one wants to be bored in the office. After all, we all prefer to do things that bring us joy. This is simply human nature.
A mortgage virtual assistant with tech skills can step in and help you complete these less-than-fun tasks, such as:
Mortgage Virtual Assistants Can Aid With Personal Tasks, Too
Virtual assistant services aren’t just limited to business tasks. Virtual assistants can help with your personal affairs as well. Consider the following:
What Qualities Do Great Mortgage Virtual Assistants Have?
Here’s what we think you should look for in mortgage virtual assistants.
Excellent communication skills
The best virtual assistants know how to provide professional and timely communication via text, call, video, or email.
Superb time management
Virtual assistants should be skilled in planning and controlling their time so they can successfully complete daily tasks.
Detail-oriented
Mortgage virtual assistants should be as thorough as possible, as the details matter when managing loan applications and more.
Reliable
It’s important that you can count on your mortgage virtual assistant. For instance, if you assign something to their to-do list, you know it’s getting done.
Confidential/Private
Your business is your business. Our remote mortgage assistants know how to handle confidential information.
How Can I Prepare for a Mortgage Virtual Assistant?
Before incorporating mortgage virtual assistant services, some preparation is required. Here’s what we recommend before hiring:
When is the Best Time to Hire a Mortgage Virtual Assistant?
If you’re currently wondering when you should begin hiring virtual assistants, the answer is probably now. We’ve been in business 8 years, and we believe you should consider hiring when:
Ready to Find Your Ideal Mortgage Virtual Assistant?
Since 2015, we’ve helped numerous entrepreneurs and busy professionals just like you. From solopreneurs who need assistance once a month to large companies that require support daily, we’re able to accommodate our clients’ needs. We understand that outsourcing isn’t easy, which is why we help you not only find the right mortgage virtual assistant but also co-manage them along your journey. With 8+ years of industry experience under our belts, we’re prepared to help mortgage loan officers scale their businesses and serve more clients.
Book A Discovery Call Today
We’ve provided several examples of ways a mortgage virtual assistant can help a loan officer, but that’s just scratching the surface. The best way to find out how they can help you is by listing things you don’t like to do or aren’t good at and identifying tasks that have to be done but not necessarily by you.
From there, you should schedule a discovery call with the leading provider of top-tier U.S.-based virtual assistants. We can help you hire a virtual assistant to help you scale your mortgage business.