Most serious businesses and business people work by appointment. Need to see an attorney? You better have an appointment. Need a massage? Make an appointment. Have a toothache? Take a tylenol and call for an appointment. And then you have the typical bank… Need a loan? Hey, just drop by anytime! Want to open a checking account? Come on in to the branch. If three or four people are ahead of you, we’ll even give you a free cup of coffee while you wait for two hours.
Something is wrong with this picture. Most community banks we come in contact with need loans. Most loan officers we come across are not very accessible. Keep this in mind… by being available, you become less available. What we mean by this is you can’t wing it each day by letting others control your schedule. Try calling any bank for help with a loan. About 30% of the time you’ll actually get to speak to an officer. Of that 30%, less than 1 in 10 will invite you in for an appointment. Maybe 25%, at best, will ask more than 3 profiling questions to learn more about your situation. In other words, most are what we call “order-takers”. They’re taking up office space waiting for walk-in customers. On the other hand, the top 10% of all loan officers are building relationships from the very first call or contact with a customer and they are all working by appointment. Sure, you can drop by to see them but they will usually be booked and their assistant will set an appointment for you. When you come in for your appointment time, they are prepared and you will not have to wait for an hour in the lobby. These officers close significantly more loans (generating at least $250,000 income/yr) and as a result are able to see many more people. And by the way, because of all the customer appointments you’ll have, you will need to train someone to provide basic loan information to call-in and walk-in customers.
As a banker, if you don’t take yourself seriously as a professional that helps people reach their financial goals, then don’t expect your customers to take you or your time seriously either. Sadly, most loan officers (over 50%) are a net drain to the bottom line of their bank. Not working by appointment is one of the main reasons why. Just something to think about and hopefully act on.
