Let it go, just be nice

I was hanging out with a longtime friend a few months back and we were reminiscing about times back when we were in grade school (yeah, it’s been a while ago).

He asked me if I remember the time one of our teachers drew a circle in the chalkboard and made him stick his nose in the circle for 15 minutes as punishment for something.

As he was reminding me of the story (which I clearly remember), tears started running down his cheeks, just like they did that day so many years ago.

He still carried the shame and pain of the punishment that was so many years ago.

The funny thing is, neither one of us could remember what the crime was… just the punishment… shame.

I suspect that the “teacher” had no idea the impact that 15 minutes had on this wonderful man’s life.

A simple act, so many years ago, still had an impact of shame.

And this guy, well, let’s just say he’s a true “man’s man”. By the looks of him, he could have been a linebacker for the Dallas Cowboys. And yet, he is still impacted by this person (the teacher) who is likely to be dead and gone by now.

All this got me thinking of 3 things.

1. Let it go. People who have disrespected you and/or said or did things to belittle you, made you feel unworthy (I think this is why so many LOs are afraid of asking for the business)…

…They didn’t know what they were doing and they likely didn’t even know the real “you”. Forgive them, and forgive yourself for believing their crap.

2. Be nice to people. You never know the major impact you may have on people or how long it will impact them. Both good and bad.

3. You are worthy. You are worthy of great things and you are worthy of great business. I think this is why so many LOs fall for the ol’ crap about how making calls is a bad thing. So many LOs waste soooo much money buying the shiny whistle with the false promise of “they will come to you begging..” yeah yeah, blah blah.

So be good. Be nice. And forgive yourself. And most of all, YOU ARE WORTHY!

That’s it.

I Believe In You.

Update on the NAR settlement

I know there has been a lot said on this topic, but I wanted to make sure you knew how this may affect you as a loan officer.

I did a live Zoom with Brian Stevens from MortgageShots.com where we discussed the implications of the new NAR settlement on the real estate industry and how it affects loan officers and branch managers.

Brian had some very interesting predictions on the changing landscape of real estate commissions and the potential impact on agents and brokerages…. And how it affects those of us who are slinging loans each month.

Go to the podcast episode here to gain a deeper understanding of the unfolding story and how loan officers can navigate these changes effectively.

No opt-in needed, just go and listen here.

Brian and I wanted to make it super simple and quick for you to get the information that you need.

Just another random act of coolness.

Be sure to thank Brian and be sure to check out his Mortgage Shots. Great info in a quick few minutes that I listen to every morning.

I’m in your corner!

How’s that working out for you personally?

Every now and then I have to get something off my chest. So just bear with me as I grab the mic and stand on my soapbox…

I got a message from “an expert” the other day that said it can be awkward asking your past database for referrals and when you do, the typical “if you know anyone looking to buy a home, please refer me” just isn’t effective…blah blah blah

I love it when people tell me that the very thing that brings my own personal team literally hundreds or even thousands of loans each year, including hundreds this past month doesn’t work… right as we are doing that very thing and setting record numbers.

It’s like watching a plane flying overhead all while saying that humans will never fly…. Crazy.

I have noticed one fact though, 100% of the naysayers either close a total of zero loans themselves or for their team, or 100% of them close less than my own personal team. Literally all of them close less, I have found no exceptions.

None of that bothers me at all. None.

What does bother me is to discourage loan officers from taking the very action that would, and for those already doing it, is the very activity that will/ is enable(ing) them to feed their family all while helping the maximum amount of families in their community.

The last thing our industry needs right now is for any of us to discourage our fellow brothers and sisters mortgage pros to stop doing every activity that will give them their biggest results.

I see this same thing when “experts” advise LOs to not call on Realtors when 67% of all purchase loans close with the loan officer that their Realtor recommends… I would say it’s crazy, but it’s far worse than that…

… they are doing it, not to help any of us, not to help move anybody forward..

… no, they are doing it to make a buck at others’ expense.

Hurting others for their own profit. That’s the only part of all this that really burns my butt.

So here’s the truth:

Calling your past database and your sphere of influence will likely be one of the top 1 or 2 activities you can ever do for your mortgage business.

Both myself and together with my own mortgage team have closed many thousands of loans marketing to my / our past database. Keep in mind it all started with a past database of literally 1 person. So you don’t need a huge database to get started, but you do need to do it to BECOME huge.

The script that I have tested, measured, tweaked, and adjusted comes to this basic formula:

A) Re-introduce yourself to them
B) The stated purpose of your call is to simply thank them for letting you help them in the past.
C) Have them write down your phone number and let them know to call you any time they have questions.
D) Ask them if you can count on them to give you a call when a friend, family member, or co-worker is looking to buy, sell, or refinance.

And that’s it.

No weirdness, nothing hard, just simply thanking people. And I find you never do that too often.

Oh, it just flat-out works… for my own personal team, this very month, and for thousands and thousands of LO’s across the nation.

Yeah, I do this weird thing… we actually do the very thing that we teach and get actual results from it as one of the top mortgage branches in the nation. And yes, I’m very proud of our team for leading the pack.

<stepping off of soapbox and putting my muzzle back on… for now>

Unlocking More Referrals: A Strategy for Every Agent

It’s no secret that the bulk of our referrals come from agents who have closed 8 or more buyer sides in the past year.

However, my mortgage team and I have also seen a significant number of closings from agents who only complete a few deals annually.

Wait, whaaaaat

You might wonder how we manage to achieve this feat, given that it involves collaborating with hundreds of these lower-producing agents to get even a handful of closings each month. The secret to our success lies in a strategy we’ve perfected over time, which we call:

High Touch, High Tech, Low Time

This approach ensures our referral partners receive personalized attention (High Touch) through the use of advanced technology (HighTech), all while demanding minimal time investment from our team(Low Time).

It’s the formula that makes working with a vast number of lower-producing agents not only feasible but also profitable and scalable.

Many loan officers (LOs) find themselves stuck in a cycle of High Touch, Low Tech, High Time efforts. This approach is time-consuming and often leads to frustration and burnout.

If you’re looking to break free from this cycle, it’s crucial to shift your focus.

I’m known for showing LOs how to focus on relationship marketing with Qualified Agents—those closing 8 or more buyer sides in the last 12 months.

However, there is plenty of gold in lower-producing referral partners, but you must adopt the High Touch, High Tech, Low Time strategy.

This balance will allow you to maximize your closings without overwhelming your schedule.

To help you implement this strategy effectively, we’ve identified a tool that hundreds of LOs are already using to maintain High Touch, High Tech, and Low Time interactions with their referral partners.

Discover the Tool That’s Changing the Game for LOs

Your success is well within reach. Embrace the right strategies, and you’ll see your referral numbers soar.

Shocking Results of Realtor Referral Study Revealed

I’m reaching out to share some groundbreaking findings from a recent study conducted by my mortgage team.

Over the years, we’ve meticulously tracked the Realtor referrals we receive while closing hundreds of loans each month by my personal mortgage team.

The insights we’ve uncovered in our latest analysis are nothing short of astonishing.

To get a clearer picture of the impact of Realtor referrals on our business, we divided the agents into two distinct groups:

Group A: Agents who closed 8 or more buyer sides in the last 12 months.
Group B: Agents who closed 7 or fewer buyer sides in the same period.

The disparity in results between the two groups was shocking.

We discovered that for every 2 agents from Group A we worked with, we secured 1 closing each month.

By comparison, it took referrals from 20 agents in Group B to achieve the same outcome.

This means that agents in Group A are ten times more effective in contributing to our closings than those in Group B.

To put this into perspective, if our goal was to close 5 loans in a month, we would only need to partner with 10 agents from Group A, compared to 100 agents from Group B.

Clearly, focusing our efforts on qualified agents who are actively closing deals is not only more efficient but also significantly more effective.

However, a surprising revelation from our study was that only 4-5% of agents nationwide qualify to be in Group A.

This highlights a critical insight: a mere 5% of agents are worth the investment of our marketing dollars and time.

Randomly selecting agents to approach at open houses or through networking events is likely why many loan officers struggle with these strategies.

The key to avoiding frustration and disappointment lies in targeting your efforts towards qualified agents.

Working without a clear understanding of which group your Realtor partners fall into is like spinning your wheels without making any real progress.

To help you, Here’s A Source For A Qualified List of agents in your area.

This list is designed to help you identify and connect with agents who have a proven track record of closing deals, ensuring that your marketing efforts are both strategic and effective.

Get The Qualified List Of Agents In Your Area Here

You deserve to work with the best, and being selective in your partnerships is not only advisable—it’s essential for your success.

Be picky, you deserve it!