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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.
