Archives: Weekly Blogs

I just saw a report that 48% of online mortgage loan applications don’t get completed.

Holy “Losing a bunch of deals” Batman…

I’m often asked, “is it better to send the lead to a website or just take the mortgage loan application over the phone?”

And I get it, we’re in the digital age – online seems like the way to go. But knowing that about 48% of all those online applications, well, they don’t cross the finish line.

Now, I’ve been in the game long enough to know that we can’t ignore numbers like that. So, you gotta ask yourself, why are folks dropping out of the race halfway through?

A lot of it comes down to that good ol’ human connection.

Some folks appreciate a voice on the other end of the line, someone who can answer their questions right then and there, someone who can nudge them towards the ‘submit’ button.

The trust, the rapport, all of that jazz – that’s crucial in this mortgage rodeo.

And look, I’m not blind to the fact that online’s got its perks.

It’s often more efficient when it comes to data entry, but with nearly half of them not getting completed, you gotta ask yourself, is it really more efficient overall?

One big thing I can tell you, from all my years in the business, is that relationships are king.

That phone call, that personal touch, it lets you really dig into what the client needs and give them advice that hits the bullseye.
And listen, I’m not saying to slam the door on online applications. Heck no! There are plenty of tech-savvy cats out there who would rather go online at 2 a.m. than pick up a phone. But given the abandonment rate, maybe it’s time to consider a phone-first approach.

My own personal approach is to get them on the phone, using the phone number the referring agent or past database client gives me, and tell them “…I can take the application one of two ways, I can give you a website to go to so you can fill it out on-line, or what most people do, I can take the application right here over the phone in just a few minutes.  Which is best for you?”

Here’s a look at our Four-Step Process for building a profit-driven plan and attracting top-performing LOs to grow your business.

Here at Mortgage Marketing Animals loan officer training, we offer a highly sought-after coaching level called Leadership Academy, where we have several members that are managers and business owners and have successfully built their teams of quality loan officers. 

Kirk in San Diego has hired over 10 top-performing loan officers in just the last 45 days, without paying any upfront bonuses or ridiculous compensation plans. 

And how about Josh in Central Texas who has added enough loan officers in the last year to keep their production at almost current levels.

So, what’s the secret to their success? It’s our simple four-step process that has proven to work for dozens of our leaders.

Step one is all about finding the right candidates that fit your culture. We teach you how to identify ideal candidates and get in front of them so they want to talk to you.

Step two is about discovering if they’re a good fit for your team and how to wow them. We show you how to demonstrate why your team is the best choice for your career.

Step three is all about successfully following up with them, building the relationship, and getting them to want to onboard.

And finally, step four is where the money is – we teach you how to successfully follow up and get them to join your team.

If you want to learn more about how to recruit and build your business, along with other leadership strategies that we teach, then reach out to us today. 

Remember, the only limit to your success is the one you set for yourself. Schedule your call today and let’s create a Profit Driven Plan for your business. 

I had a buddy call me the other day to ask if he was paying too much for a new “widget” that he was using to help him close more loans.

Thought I would share with you what I shared with him that involved me being a butler in my early 20’s.

This is a powerful message that was taught to me by a very wealthy guy, George Cortner, that I was a butler for during my college years (yepper, did that too).

So was my loan officer buddy paying too much, depends…

…See George taught me how rich people ask that question.

They ask “what is the yield?”

See, if you’re investing $20 a month for something, but it’s only producing $10 in new income, then that $20 is wayyyyy too much.

Now, if you’re investing $2,000 a month, and it’s yielding you an extra $15,000 in additional closed loans, then you should try to wear that machine out by sticking in another $2,000 a month.

Who in the heck would ever want to turn that off?? …

So it’s never about “How much does it cost?”…

… It’s always about “What is the yield?” That’s how rich people, like you, think ☺

A quick example, Merrily Brown made an investment in herself to join our mastermind group and has gone from closing 5 loans in March to 10 loans last month. Let’s just estimate that she makes around $3k per loan.

An extra 5 loans is an extra $15,000 PER MONTH.

That’s an amazing yield on her monthly investment because you know what they say, “Every $15,000 per month helps”..

And now you know how to ask the right “rich people” question… it’s not “how much is the price?”, it’s “what is the expected yield?”

Now, what are you going to do with this new information?

A few months ago, Michael Content, shared with me 2 little sayings that he has printed up and reads every morning when he sits down to do his Daily Success Plan activity to close even more loans.

I printed it up myself, and come to find out, he may be on to something… I’ve had a noticeable uptick in my team’s closed loans since I started it too. 

So I thought I would share it with you for you to print up to try it yourself for 30 days (that’s all it took for us to see a noticeable difference).

Here you go…

“The secret to the success in selling is to be committed to my daily success plan without being emotionally attached to my results. 

I can’t always control my daily results, but as long as I follow through with the process, the law of averages will always play out and my epic results will take care of themselves.

I can get control of my time and my life only by changing the way I think, work, and deal with the responsibilities that I have each day. 

I can get control over my tasks and activities only to the degree that I stop doing some things and start spending more time on the few activities that can really make a difference in my life.”

That’s it.  I know I know, it sounds a bit “woo woo-ish”, but it’s funny how what we say is soooo important.  That’s been proven over and over again.

It has surely been working for me, but I found I have to actually read it out loud while sitting at the desk right before I start working the daily plan.

Do it for 30 days, along with the Daily Success Plan for 30 days and then let me know how much you increased your loan count.

Of course this won’t work without following the very specific Daily Success Plan.  That’s like buying a car without an engine.  Feels good sitting in it, but it doesn’t actually move.

So I’ll give you the Daily Success Plan too. 

Just go here and we’ll walk you through it step by step <no charge>.

I’ve got something for you that has been a game-changer not just to my bank account, not just for my mortgage business, but for my entire life…

…. And it isn’t about numbers, interest rates, or credit scores.

It’s about YOU, your life, and how to maximize your happiness while minimizing the clutter.

In our hustle to close deals and make the magic happen, we often pile up some tasks, commitments, and some relationships that were put into place to help us, but sometimes, after a while, may feel like a big ol’ boat anchor holding us back.

Don’t get me wrong, the vast majority of our relationships are nothing short of awesome, but those few can suck the energy out of us like a New York City blackout.

They can make it so we dread going to work, thus robbing us of being at the top of our game.

I want you to do a bit of homework (don’t worry, it’s not hard).

I have found great success in my personal and business life in a process I call “Simplify Your Life” (inspired by Brian Tracy)

Ask yourself, “What or who is in my life right now that, knowing what I know now, I wouldn’t invite into my life today?”

This ain’t about regret, or uncool at all folks. It’s about grabbing your life by the horns and steering it where YOU want to go.

Could be a sticky task you’ve been dreading, a draining relationship, or even a shiny gadget that’s been collecting dust instead of making life easier.

Once you’ve nailed down these speed bumps, ask yourself, “What’s the first step to take to break free and eliminate this from my life?”

Could be a heart-to-heart chat, a polite “no, thanks,” or just deciding to part ways with the thingamajig that’s lost its sparkle.

Now, let’s not go crazy and start ditching everyone who disagrees with us on the latest sports scores.

Especially when it comes to family, it’s important to be cool, be patient, and remember: no one’s perfect.  We show grace to long time friends and family.

Challenges are just part of the game, and open, honest talks can turn them into opportunities.

The point of all this? To help you focus on what truly jazzes you up and makes you want to jump out of bed in the morning, ready to take on the world.

You deserve a life filled with people and tasks that light you up, not weigh you down.

Remember, simplifying your life and bettering yourself is a marathon, not a sprint.

Every step you take gets you closer to a life that’s more fulfilling, less stressful, and chock-full of the good stuff. So, take it easy on yourself and enjoy the ride.

I’m super excited to hear what you think about this idea, so let’s chat!