There’s no doubt that relationships are crucial to the success of your mortgage business, so it’s only logical that networking is a key component of the work. Even loan officers actively investing in their networking efforts might not see the results they’re hoping for though. Why? There are several common mistakes that can dramatically slow progress. If you want to expand your network and build stronger, more valuable connections, here are the networking mistakes you need to avoid:

Neglecting Your Elevator Pitch

The elevator pitch may have started to sound like a dated concept to some, but being able to present yourself well in a short period of time still has incredible value. It’s important for you to be able to highlight your skills, your passion, and your ‘why’ to whoever you’re speaking with. You never know when you might meet a potential client or possible business partner, and being prepared to introduce yourself in a way that makes a great first impression can set the tone for a fruitful interaction.

Talking More Than Listening

Being able to present yourself well is important, and it’s equally important to strike the balance between talking and listening. This is why questions are probably your number-one tool when it comes to networking. Asking questions and creating space for the other person to share their thoughts with you is a powerful strategy to establish a stronger connection. Not only will you learn something from whatever they have to say, but you’ll also be communicating your interest in and respect for whoever you’re speaking with.

Failing to Follow Up

No matter how great of a first impression you make, if you neglect to follow up, the connection can easily fizzle up. Sure, maybe you become LinkedIn connections, but if you never communicate directly after that initial conversation, how likely are you to be of benefit to one another? This is why following up is so important. With a new connection, this cements the start of the relationship. With any connection, it shows your commitment to building the relationship. It doesn’t need to be complicated. A quick email with a few references to your prior conversation and maybe a suggested time to talk again is all it takes to send the right message.

Overlooking Maintenance Efforts

A great network requires effort. It’s not just meeting new people and making more connections, it’s about cultivating the ones that you have. This means that reaching out, following up, starting conversations, and asking questions are all important networking activities. To create a truly valuable network, you need to invest in each connection. Carve out time weekly, potentially even daily, to give just a few minutes to maintaining your network. This small but consistent investment of your time can pay off with a network of genuine connections that support your business.

Do you have any go-to tips when it comes to networking? What about mistakes to avoid? Do you include networking as a key piece of your work as a loan officer? I’d love to hear what you think!