Tag: mortgage industry

I was talking to a loan officer this past week and she mentioned that she would never call her past database that closed from 2020 to around 2021.  I asked her why, and she said it was because they all had rates of 3% or less and it would be unethical to refinance them. 
 
Now you and I could talk about how doing debt consolidation may save that client hundreds of dollars a month and moving high-interest rate credit card debt to tax-deductible low interest rate mortgage financing may be something worth looking at… 
 
… but let’s ignore all that for just a few minutes… 
 
What she didn’t know is that for me, we call our database because MOST of the loans we get when we do call our database aren’t from “them”, it’s the referrals they give us to their friends, family members, and co-workers.   
 
Yep, most of our “past database loans” aren’t a redo of them, it’s purchase referrals of people that they know. 
 
Now, if (although unlikely) rates were to drop to the 3’s, of course most of the referrals would be refinances.  But almost always, the biggest opportunity is with the people they know. 
 
And the reason why they do refer their friends, family members, and co-workers is because that’s what we ask them in our phone scripts. 
 
You see, you get what you ask for… 
 
… and if you ask for nothing, well, that’s exactly what you’ll get most of the time. 
 
When you are ready for some free scripting help (I’ll give you the exact script we use) and even do some phone roll-playing, just hit me up here and I’ll hook you up. 
 
Or maybe you are closing all the loans, helping all the families, and making all the money you ever dreamed of already.  If so, keep doing what you’re doing.  If not, let’s hook up here <no charge> 
 
Get the results you are worthy of!  It’s your turn now.

Ok, this may be the weirdest message I’ve ever sent to somebody, but it’s a message that really needs to be shared. 
 
I went to this gas station the other day while driving to Daytona Beach.  The name of the place is Buc-ee’s.  This was not your normal gas station, as it was about 80,000 square feet of a 7-11 type of place and has 104 gas pumps (yes, I counted).  
 
Picture a gas station the size of a Walmart.  It was incredible. 
 
And the place was PACKED!!  There were literally hundreds of people walking around this mammoth 7-11 store.  I had never seen anything like it. 
 
Being the marketer that I am, I started asking random people inside, why they stopped here for gas and refreshments instead of the Chevron station right across the street.  (it certainly would have been a lot easier going to the smaller place, less congestion, shorter lines, and quicker to get in and out). 
 
Out of the 6 random people I asked, most said the same thing… 
 
“This place is known for having super clean bathrooms.” 
 
Come to find out there is an entire chain of Buc-ee’s (primarily in Texas and Florida for now), and come to find out, clean bathrooms is what they are famous for… 
 
… and apparently, because they are known for something (bathrooms in this case), they are absolutely crushing their competition and making money hand over fist. 
 
So it got me thinking, “What am I known for?” that can create raving fans. 
 
For me personally, I’m known for “helping loan officers and branch managers work toward a 7-figure income and beyond, while taking evenings and weekends off.”  
 
And then in my mortgage branch, for our Realtor partners, we are known for referring deals back to them using my patented “Follow Up and Refer Back” program for our real estate agents. 
 
The more people know that, the better I am and the better “they” are too. 
 
So I’m writing this today to remind you, that you HAVE TO have a process or result that YOU ARE KNOWN FOR. 
 
It’s a big deal to identify what it is, and then think of cool ways to get the RIGHT people to know that. 
 
It’s a very big deal to do that. 
 
Ok, well I took a leap of faith that we are good enough friends that I could send you a message about bathrooms and Buc-ee’s ☺ 
 
Cheers! 
 
Carl White 
 
PS.  If you want help with picking out “What you are known for…”  
 
..or when you are ready to see what mine is and how we attract referral partners with our Follow Up and Refer Back program (that costs $0 to do), just hit me up here and I’ll get you hooked up to walk through it <no catch> 
 
Just put in the comment on that page “Tell me about Follow Up / Refer Back” in the comment section.  That will be a very very good use of your time.

I hear that a couple times a day… 
 
“but Carl, you don’t understand, there’s no inventory in my area…” 
 
or “but Carl, you don’t understand, rates are high…” 
 
or “but Carl, you don’t understand, the agents are already referring to somebody else…” 
 
Yada yada yada yada 
 
So how then do we explain how my longtime friend Wes Oliver in Massachusetts, who is averaging 10 closings a month for the last several months? 
 
Or how do we explain Sarah Cox in Texas, with around 19 or so locked in for right now? 
 
Or Kenneth Brantley in Oklahoma, who just funded 7 loans last month and expects to close 8 this month? 
 
Or Tammy Saul who closes well north of 50, sometimes 80 or so, month after month after month… 
 
I’ll tell you how you explain it…  
 
Winners find a way to win!  And they hang with the winners. 
 
It’s just that simple.  Hang with the winners, learn from them, and then do what they do. 
 
AND… 
 
Avoid the “That won’t work” crowd like your business depends on it (because it does). 
 
I have learned to guard my “who we hang with” like I would guard a 10-year-old child. 
 
By the way, thanks for letting me hang out with you on this wonderful day.  I don’t take that honor lightly. Let’s chat here.

Sometimes we believe the crap we tell ourselves… 
 
… but don’t tell Jason Schaeffer you can’t get more than your fair share of the builder business.  
 
In January he was closing about 1 loan a month. After applying a couple of strategies that Kevin Gillespie showed us in our leadership academy, Jason is now closing an average of 7 to 10 loans a month. 

One strategy, he started calling on builders and now has 6 of them sending him leads and he has several loans in the pipeline that should close in the next several months, so YES, It’s working. 

The other thing he started to do was prospect his database, which he hadn’t in years, and started getting referrals for purchase and cash-out refinance deals out of that.  
 
Congratulations Jason.  Thousands see the opportunity, but only a few actually act on it.  You get 100% of the credit for making your great success!  
 
So when others may say, “It can’t be done”, “There is no inventory”, or “Rates are too high, nobody is buying”, just know the facts.  That’s just excuses made for not doing real prospecting.  (ouch) 
 
Let’s do real prospecting that really works…  
 
 When you are ready to see what Jason is doing, hit me up here and I’ll make that happen

Well, I should really call this “How a human beat a condor”… 
HUGE take-home message on this one FOR loan officers. 
 
A recent study was conducted on what is the most efficient animal on Earth.  In other words, how many units of energy to travel one mile, what animal uses the least amount of energy to do that. 
 
After measuring hundreds of different animals, they printed up the report.   
 
Just as an FYI, humans ranked in the bottom 3^rd… so not so good. 
 
The condor won.  Because it harnesses the energy of the wind to glide, it was the clear winner…. 

… UNTIL something happened… 
 
When they measured a human on a bicycle, the human won by a lot. Humans on bikes were tremendously more efficient than even the mighty condor. 

You see, man is a tool builder and a tool user.  That’s what sets us apart from all the others. 
 
Using tools is our “unfair advantage”. 
 
So that got me thinking… 
 
MAKE SURE TO USE TOOLS TO GIVE US THE ABSOLUTE ADVANTAGE!! 
 
So as loan officers, use power dialers, email marketing, texting tools, video marketing, use your CRM, ….. 
 
I think you are getting the picture here. 
 
Tools are what make us the masters of the animal kingdom and masters of our business. 
 
By the way, did you know that the LoanOfficerCRM.ai has all of those things, and more, in one simple tool? 
 
Yepper. 
 
Think PhoneBurner, BombBomb Video, Group Texting, SalesForce, AND the ability to look up Realtors production reports nationwide WITH their cell phones and email address… 
 
.. All in one easy-to-use tool. 
 
To see a quick demo, just go to LoanOfficerCRMdemo.com and I’ll hook you up for a 1 on 1 demo.  It’s CRAZY GOOD!