Today, the phone data is not bright, it's not glamorous. The data supported that over just the last few years, Americans have gone from about 32 seconds on the phone with a cold call down to 11 seconds. What that means is that there's a clock ticking from the moment they answer the moment they hang up. Most recruiting leaders respond by talking faster or by quitting the phone altogether, and neither one fixes the real problem, which is what they say once someone picks up. My phone script says I have done research on you and I see a lot of similarities between your core values and my core values, and because I know most people in this industry transition every two to three years, if a trigger happens and you decide to leave, you will probably have a shortlist of leaders you know and trust. I would like to make that shortlist. So I am calling to say no recruiting allowed, but I would like to get to know you. About thirty to forty percent of people say yes to that.
Here's the framework behind that loan officer recruiting script, step by step, so you can build a version that sounds like you.
Why you need a script at all
When you don't know what you're going to say, and you will just say whatever comes to mind, it is very easy for a recruit to take you off course, to take you off track. How I think of this is that in every conversation, there's a steering wheel. Someone's driving the conversation. It's either going where you want it to go, or the recruit will take it where they want to go. That doesn't mean reading lines like a telemarketer. I'm not going to give you specific verbiage to use. If we did that, we would all sound and talk like robots. I don't want you to do that. I want you to put your own language around this. What's most important in our scripting is this, is that we sound conversational.
Step 1: Lead with affirmation
The first one is going to be that we lead with affirmation. We affirm. Now one of the key things when you're going to affirm someone is that you're going to need to do research. Keep that research tight, because most of your dials won't connect. This does not require 30 minutes of research. You will waste a lot of time. If you do 30 minutes of research to make one phone call, depending on what markets you're in, anywhere from one out of eight to one out of 11 people answer the phone when you call for the first time.
Aim for three things you can use on the call. So when we look at three bullet points, I want three bullet points that I can come back to again and again and again. And make those bullet points about who the person is. I saw someone scripting earlier that said, I've seen your production, I'm impressed. No, that doesn't work for me. What I'm looking for in my affirmation is character core value affirmation, not production affirmation. I noticed you have a client for life mindset. You have 87 five-star reviews, and Nancy said they were going to name their second child after you because you saved their dream home.
The opening itself can be this simple:
Look, we don't know each other. The reason why I'm reaching out is that I recently did some research on you. I got to say, I'm incredibly impressed with the number of things that I found as I was doing that research.
Step 2: Give a big reason with a pattern breaker
What I would say as a general theme around why recruiters are calling people, what I would say it is around this idea that my company is better than your company. If I put it into words that they'll use, they'll say things like, are you open to a better opportunity? Are you open to upward movement in your career? A pattern breaker does the opposite and makes them stop for a second. Think of this, like you're scrolling through your social feed, you're scrolling, you're scrolling, you're scrolling, boom, something got your attention. What was it? Whatever it was typically broke pattern.
The statement I'm going to make is this. I believe the industry is changing dramatically right now.
I'm not into tricky scripting. I'm not into manipulation. I am into being truthful. You'll need to back that statement up with real data from your market, because they're going to ask. You will get the question, why do you say that? Be prepared for that. No trickiness allowed. Certainty is always influence.
Step 3: Remove the tension
Recruiters, the moment you show up on the scene, you've inserted tension. The reason why is that they have been called over and over again. They've been messaged again and again. So you take the pressure off the table on purpose. I would be inviting you into a non recruiting conversation where no recruiting is allowed, because I believe that change is coming in a major way. I'm teaching you a relationship building process, not a recruiting process. Why? Because relationship building accelerates the speed that people move towards you.
Step 4: Close with a yes-or-yes question
Does that sound fair to you is what we call a gaining-agreement question. There's a difference from would you be open to that, where they can say no, it's not the right time. Does that sound fair to you is a yes or yes. You can open the call with a small yes, too. If I was to call and say, My name is Richard. I'm with ABC company. You don't know me. Can I have 27 seconds of your time to tell you why I called you today? I just asked you a yes question.
The full script, start to finish
Put all four steps together and it sounds like this:
Hey Diane, this is Richard. Look, I'm with ABC company and you don't know me, but let me tell you why I'm calling you. Prior to reaching out to you, I did a ton of research on you. And as I was doing my research, I was blown away by some of the amazing things that you're accomplishing in your career. Let me tell you why I'm calling you. The reason why I'm reaching out to you is this. I believe this business is changing dramatically right now. And I believe the pace of change is going to accelerate as we go through the next two or three years. And with that, with that said, if I look up in two to three years and you've got another company and I haven't tried to build a relationship with you at some level, then I'm going to be disappointed because of the amazing things that I know about you today. So I would love to invite you into a 15 minute meeting where no recruiting is allowed in that meeting. It's simply you and I getting to know each other for the future. Would you be open to that?
Swap that last line for Does that sound fair to you, then rewrite the rest in your own words, and you have the whole framework.
How to handle objections without arguing
Early on when you get an objection, acknowledge it, do not address it. It's a smokescreen. If someone said I'm happy where I'm at, I'm going to acknowledge it. I understand you're happy where you're at, so let me be real direct. You mirror what they say. We're just buying ourselves more time. That bridge holds up against even the most polished brush-off. I had a young lady that once told me the objection she gave people that no one had ever overcame was, out of respect for you and honoring your time, I'm gonna decline. I could say, well I appreciate the fact that you want to respect and honor my time, so let me be real direct, and move into the remaining part of my phone script.
Questions get handled differently. Questions are different than objections. You acknowledge the objections early, address them late. Questions? Great question. You get right back into your scripting. You re-loop the framework. And when the call still isn't going your way, end it on a yes. I call it the no-no yes list. They gave me two objections. I at least got permission to send my contact information. You're starting that list.
From there, your Forever Follow-Up keeps the relationship alive until the timing is right for them.
Skip the voicemail
I will not leave you a voice message, that's a breadcrumb that leads back to me being a recruiting leader. We tested the voicemail strategy with a large company, point zero four percent is the response rate, and the people that returned the voicemail were job hoppers, not tenured top producers. If you dial three times in one hour, about one out of 11 will answer the phone.
When someone else makes the calls
If a dialer or recruiting assistant makes your first calls, the framework stays the same and the invitation comes from you.
I'd love to set up a 15-minute conversation with one of my executive leaders. And here's my promise. If they try to sell you how awesome our company is or even talk about the company, I'll encourage you, hang up the phone. The intent for this call is only to get to know each other for the future so that if something were to ever change, you'd already have a leader you know and trust that you could pick up the phone and call. Does that sound fair to you?
Memorize it until it's yours
Confidence comes from knowing what you're going to say, from having a solid phone script, from already understanding what objections you're going to get and from being able to confidently overcome those objections. Here's how I practice. I have done over the years a lot of self role play where you know the script, what are all the objections. I've written objections down on pieces of paper. I've set timers for 17 seconds, 27 seconds, 22 seconds. When the timer goes off, I pick up an objection. How fast can I overcome that objection? Get ridiculously good at the script. Someone can wake you up at three in the morning and give you an objection and you're like, that didn't take me off my scripting. I know exactly where I'm at.
Why this matters right now
Loan officers make more moves in the fourth quarter than any other time of year (I break down the numbers in When Do Loan Officers Change Companies? The Q4 Data), so the calls you make in October set up your January. I'm not trying to recruit you, I'm trying to build a relationship with you. The truth is that you start with relationship building, and so that is a high integrity phone script that you can use.
Frequently asked questions
What should a loan officer recruiting script say?
Four things, in this order. We lead with affirmation, we establish a really big reason why, we remove the recruiting tension, and we invite them into a 15-minute conversation.
How do you respond when a loan officer says they're happy where they are?
Acknowledge it, mirror it back, and keep going with your script. I'm not interested, I'm happy where I'm at. That is an absolute smoke screen early. So don't treat it like it's a real objection 'cause it's not. It's just that I need to get off the phone with this person.
Should I read my recruiting script word for word?
No, learn the framework and put it in your own words. I want you to get comfortable with the bullet points, and I want you to get them memorized. When you're on the phone, no one knows that you're looking at bullet points.
Bring your script to Working Lunch
Next session: Friday, October 9 at 12 pm Eastern.
When you know your script well and you know how to overcome objections, there aren't any unknowns. Working Lunch is my free live session every other Friday, there's no pitch and nothing to buy, and if you bring the script you're using today, I'll help you tighten it live.