What Virtual Assistants Can And Cannot Do For Loan Processors

Housing prices are up, and people are getting desperate to buy! This isn’t clickbait hype, these are facts. The real estate market is in a weird place right now, with everything going on in the world. And few professionals are feeling the weirdness more than mortgage loan officers. But thankfully there is an answer to the added pressure those in the real estate industry are facing, and it involves virtual assistants.

ORIGINAL STORY: Link

More and more brokerages are turning to virtual assistant services like ours to fill out their staff with experienced professionals, capable of handling a variety of tasks. Now, this is not about how a virtual assistant is a replacement for a loan officer. Nope! This is to educate any interested parties about how to support their existing loan officer, with a real estate experience virtual assistant. Because that is the killer combo that is shaking up the industry for the better.

TIME IS MONEY

Let’s get right to it because time is money, and in real estate that’s as true as it gets. It’s important to understand that a virtual assistant could never replace the role of a loan officer. A VA(virtual assistant) is best for a company when they are combined with your 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, and those tasks are often doable remotely.

So why not have someone remote knock out that busywork, so your local staff are freed up to be the experts they’re meant to be?

LET’S GO OVER SOME OF THOSE TASKS THAT WILL DIFFERENTIATE YOUR LOAN OFFICER FROM THE VIRTUAL ASSISTANT…

LOAN PROCESSOR

  • Quote interest rates
  • Interact with clients
  • Go over different loan programs
  • Shop different banks
  • Negotiate point fees
  • And other in-person or specialty tasks

VIRTUAL ASSISTANT TO LOAN PROCESSOR

  • Compile information for the loan application
  • Research and correct errors in applications
  • Review documentation
  • Order appraisals
  • Complete loan package
  • Review title
  • Send reminders
  • And any other paperwork/data tasks that can be done online

IT’S A WIN/WIN

As you probably noticed from those different duties across both lists, the VA really is like a supportive lifeline. A loan officer has a lot on their plate and often can feel stretched thin, especially when juggling different clients. Having an experienced real estate virtual assistant on your team to back them up is a win/win scenario for everyone.

By hiring a VA to assist them you not only increase the productivity and accuracy of that role, but you save at least 50% on the cost compared to if you had hired a second traditional loan processor, locally. That’s because a MyOutDesk VA is just one flat rate per month to our clients. We handle all of the other fees associated with their employment; benefits, PTO, insurance, etc. And these VA’s are proven, skilled, and experienced people with a drive to work hard. They speak fluent English, and don’t need to be hand-held or monitored to ensure productivity. A remote assistant for the loan officer is just one example of how VA’s are changing the way we run our companies.

There are so many other applications that just make sense, we could go on and on(and we have!).

If you’re on the fence, or just have a few questions, don’t hesitate to click this link where you can request a FREE one-on-one consultation with one of our experts. We’ll hear you out first and understand what your business needs, then we’ll discuss a plan to help with even just one of our proven virtual assistants. Remember, time is money, and we don’t intend to waste either of those.

CEO/Co-Founder of MyOutDesk. In 15 years+, we have served over 7,500 clients with the highest-quality, top-rated virtual assistants. https://www.myoutdesk.com