Russell Martin, a loan officer with Chicago’s Perl Mortgage, has only worked in the mortgage-lending business for five years. But already he’s crafted a successful career.

MCREM: How did you get started in the home-lending business?

Russell Martin: This is my fifth year in the business. I wanted to do something entrepreneurial. I was attracted to the industry in terms of how each loan officer like his or her own business onto themselves. Additionally, I wanted to bring a higher level of professionalism to the business. I had a pretty underwhelming experience when I bought my first house. That surprised me. A mortgage is the largest transaction most people take on. Yet the service was underwhelming.

MCREM: How have you changed that during your career? How do you bring a more professional attitude to the transaction?
Martin: I completed my MBA at Kellogg School of Management at Northwestern University. Very few loan officers have MBAs. And before entering this business, I did work at a top-tier management-consulting firm. But more than that is the general attitude I take with this career. I don’t approach the business in terms of sales. I take a more consultative approach. I believe in being very open and transparent about how things work.

MCREM: Has this approach paid off for you?
Martin: I realized early on that my target market was young professionals with high incomes. They would like to work with someone with a similar background and high standards. That was a readymade group of clients. They were top quality borrowers. When I bought my first house, I couldn’t get a loan officer who could put together a spreadsheet in Microsoft Excel to help me compare loan products side by side. It was the little things like that that I vowed to bring. It was simple things, like returning e-mail messages and phone calls quickly.

MCREM: Your career has gotten off to a fast start. How have you managed to build your business so quickly?
Martin: It was my network of associates. I had a large circle of influence form my MBA days. It was very easy for me to send out an e-mail message telling people that I was in this business now and that they should give me a call. I used my business-school network and professional network to gain business. To this day, that’s what I rely on. I don’t do a lot of courting Realtors®. I depend on referrals from satisfied clients. I rely on relationships with companies to gain my business.

MCREM: How do you make sure your clients actually do refer you to their friends and family members?
Martin: I try to stay in touch with my clients all the time. I’ll send them a random, "How are you doing?" I keep track of all my client birthdays and send them birthday cards. I send out e-mail newsletters. Perl Mortgage has very good retention-marketing tools in place. I use them so that I can always stay in front of my clients. Most of my clients know they can call me if they ever have any questions. They know my business is based on referrals. I always tell them not to keep me a secret. I’m always asking for referrals.

MCREM: How do you keep the business coming during a down market?
Martin: For me, I’ve been fortunate that most of my clients haven’t been hrt by the subprime mortgage issues. I don’t do a lot in that market. People are always buying homes. It’s about staying on top of your referrals, and making sure that your clients know to refer your friends, family and co-workers to you. You have to be the expert professional whom they can depend on.