Artificial Intelligence

One of our Freedom Club members (our top-level LO mastermind group) asked a great question…

“I am seeking some ideas for unique closing gifts that I can send out. Ideally, something universal that I can leave a lasting impression and that has my branding on it. Any ideas you can share with me?”

My response:
Great question! Here’s the thing, we have found that we don’t need to leave a “lasting impression”, as we will be contacting them quarterly with a phone call (using our past database scripts and the automated system) and monthly with our “handwritten” note (also done automatically).

Think of it like not needing a lasting impression when you leave a friend’s house after playing cards. You’ll be back next week….

Follow-up out trumps a closing gift every time.

The follow-up we do is 3-fold:

1. Call with a simple script 4 times a year (this is the most powerful and we have figured out a way to automate it).

2. Snail mail once per month. This has proved to give us huge results. The trick is to NOT send a newsletter or corporate looking postcard. We have found that an actual letter produces more goodwill and leads than anything else (I can show some examples of what we do).

3. And finally, a weekly email. The email we have found that gets us the best response isn’t about mortgages, it’s about what’s going on this weekend around your area. At the end of the email, there is a simple call to action that we call the“Super Signature” which has proved to be the secret sauce.

When I did a closing gift that had a “last impression”, it had zero effect on my closings from those past clients going forward. It wasn’t until I added the 3-fold follow-up strategies that I saw an explosion in my measured results.

This follow-up approach gives us an average of 1 closing per 100 people in our database per month. So if you have 500 people in your past database, that would be 5 closings…. PER MONTH, just from this simple strategy.

Now, to answer your most excellent question, I found giving them pizzas on moving day worked very well for me. After all, it’s what friends do for each other.

So, to schedule a time where we can map out, show you samples, and share how we do all this, along with my proven scripts, click here and I’ll get you set up.

If you have time, we can also show you all the benefits of members that you may be missing out on, but either way, it’s all good and totally cool.

After all, it’s what friends do for each other….

Good news:
A recent large study showed that 54% of all borrowers only speak to 1 originator.. which happened to be the 1st one they talked to. Remember, they only talked to a grand total of “1”.

Get this, 92% closed with 1 of the first 2 that they spoke with.

So that means that for the vast majority of us, only 8% are “shoppers” and the other 92%, as long as we actually answer our phones, we have a very good shot of closing the deal.

What that all means is, if we are finding ourselves with more than 8% shopping us, we likely have 1 of 2 issues…

read on…

The ONLY 2 issues that would have an LO getting shopped more than 8% of the time is…

1. The source of your leads
2. Your scripting

As it turns out, “referred leads” close at about 25%. So, want 8 closings for the month? You just need about 1 referred lead per day.

Just that simple.

(by the way, we can show you how to get even more referred leads on this call)

If you find yourself significantly lower than 25% on referred leads, it’s likely a scripting issue.

More good news…

I can significantly help you with scripting.

If you don’t think scripting is a big deal, try giving out your phone number with 1 number missing or 1 number changed… well, the desired result changes DRASTICALLY with just that one small change. That’s scripting.

The same is true with how we make our offers to real estate agents to start or continue referring to us AND when we make our offers to our prospective borrowers.

It’s a big big big deal.

I have spent my entire career crafting my messages, and working on my scripting. It has been a very very very good use of my time.

When you are ready to hang out on a Zoom and bounce ideas back and forth, whether it’s scripting or “How to get even more referred leads”, I’ll totally hook you up on my dime.

Just pick a day and time here. It’ll be a very good use of our time.

Cheers to being the 1st one they talk to (holding up my glass of herbal tea as a toast)

It seems like there has been a great shift in the market!

This past Tuesday, these were just a few of the reported “wins”…

Greg shared that he secured two contracts over the weekend and received one referral from one of his borrowers. Fantastic work, Greg!

Marla has been making her Thor’s Hammer calls, targeting real estate agents, and she picked up a referral from a top agent. Way to go, Marla!

Merrily worked the MoveTube Open House system with a group of agents and pulled three applications from it. Incredible effort, Merrily!

Tanya had a great weekend with 3 new contracts.

Vincent is closing $1.4 million in volume this month and has $2 million lined up for next month, he said “Thanks to the DailySuccess Plan”.

So it seems that those that have a burning desire and taking action, pushing through their fears are really seeing a shift.

I just think it’s important to know what’s really happening so we know what’s possible when we do the same things.

Is it your turn now?

We’ll map out exactly what they are doing here.

It’s your turn now (and you are worthy).

So in the Loan Officer Breakfast Club Facebook Group page, Brandon Ceullar said something that really hit home that’s a great message for all of us.

He shared his eye-opening stats from call top-producing real estate agents.

The numbers speak volumes about the challenges we face daily, but they also highlight the burning desire required to succeed in our business.

Here’s his stats (remember, this is calling top-producing agents):

34% of his outbound dials are answered. That means 66% of Realtors REJECT his call.

21% of his conversations lead to an appointment set. That means 79% of realtors REJECT his offer. (That sounds about right).

62% of my appointments show. That means 38% of realtors REJECT our scheduled appointment. (That’s a bit of a lower show-up rate than I see, maybe we could work on reminders that are sent out)

26% of realtors I’ve met with send me referrals. That means 74% of realtors REJECT working with me. (For me it’s closer to 16% send referrals and 84% don’t, so he’s kicking my butt on this one)

Here’s the point he made in this post, rejection is a significant part of our business. However, this loan officer’s attitude towards rejection is what truly stands out.

“Rejection is just like a callus on your skin. The more you do it, the more comfortable you are with it. So pick up the phone and make your calls today, no one is gonna do it for you!”

Embrace the Challenge

Rejection is a natural part of our journey, but it doesn’t define us. It’s how we respond to it that shapes our success.

As you go about your day, remember this story and let it fuel your determination. Understand that rejection is a part of a salesperson’s process, and never forget that perseverance pays off.

For example. Let’s say you call just 10 top-producing agents per day Monday-Thursday.

Using his numbers, you will talk to 54 top-producing agents per month. 11 of those 54 would agree to meet with you (via zoom, coffee, phone meeting.. whatever is most convenient for you)

7 of those 11 would show up to meet with you.

2 of those would start referring to you.

Keep in mind, those 2 are top-producing agents (remember, it’s the only ones we market to).

So imagine these 2 top producing agents only send you 1 closing per month each, in the next 90 days that would be 6 closings.

Let’s say you get $3,000 per closing, that would be $18,000 from these 2 agents.

But wait…

Next month you talk to another 54 agents resulting in another 2 top producers sending you deals, imagine that would be ANOTHER $18,000 (in addition to the first 2 sending your $18,000… so $36,000 total

… and then next month another 54 agents… ANOTHER $18,000… so $54,000.

And next month, and next month, and yet again next month…

Most LOs overlook the compounding effect of this.

This is how the top LOs get wealthy all while making dreams come true for their clients AND their own personal family. It’s magical, really.

Hey Brandon, thank you for being part of our amazing community. Your hard work and dedication make a difference every day. Let’s keep pushing forward, supporting each other, and turning those rejections into opportunities.

Wishing you all the best and continued success.

Wanna see Brandon’s plan? I’ll show you here, let’s chat.

Congrats to David Liccardi (a leader in the Freedom Club) for going from 3 units in Jan (not shabby at all in today’s market) to closing 13 in April.

David lives in Providence, Rhode Island, and says that tracking, using a VA to help set up meetings with top producing agents, and simply asking for the business has been the perfect trifecta for the explosion in business that he has seen.

Oh, and David is on track to hit DOUBLE the volume and units over last year.

2 reasons I wanted to tell you about this.

1. Let’s help our brother celebrate his victory.
2. To remind us all that our actions dictate our success, not “the market”.

Some LO’s all across the country are having their best months ever, all while some others are having their worst…

… It’s all about the actions that the winners put in place and the lack of “loan getting” action that the ones that are struggling experience.

See, our desire must outtrump our fears. That’s really the name of the game.

Congrats David on having your dreams and desires lead your direction and kicking those fears in the teeth! And congrats on your son’s graduation!! #ProudPapa