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How to Double Your Database and 10X Your Production · Mortgage Marketing Radio

0:00
In today's highly competitive mortgage industry, building profitable relationships with
0:04
the real estate agents is essential for success.
0:06
However, finding effective ways to secure agent relationships can be a challenge.
0:11
With so many mortgage loan originators vying for the attention of real estate agents, it
0:15
can be difficult to stand out and establish meaningful connections.
0:20
Our new case study featuring loan officer Chris Cogill is a must-read.
0:25
Chris has closed a remarkable 36 million in funded loans from agent referrals.
0:31
And in this case study, he shares his proven strategies for building strong relationships
0:34
with real estate agents and leveraging those relationships to drive more business.
0:39
To get your hands on this resource, head over to LOKestudy.com and download your free copy
0:45
of the case study today.
0:47
You'll find actionable insights and practical tips that Chris used to close 36 million
0:52
in funded loans from agent referrals and how you can, too.
0:56
Don't miss out.
0:57
Go check it out right now.
0:58
Visit LOKestudy.com and download your free copy today.
1:03
Hey, what's up, Jeff, this is him for host of the mortgage marketing radio podcast.
1:24
So happy you are choosing to tune in.
1:26
Hey, quick reminder, I'm not sure if this is your first episode.
1:29
So welcome to the fam.
1:31
And if it's not your first episode, welcome back.
1:34
And if you've been listening now for some time and haven't yet less left us a review, please
1:40
do so.
1:41
I would love to hear what you think of the podcast.
1:43
So you know where to do that, wherever you're listening, Spotify, iTunes, et cetera, you
1:47
just click find the buttons, find the place, do the thing, leave the review.
1:51
And then I'd love to hear from you that you left me a review as a matter of fact, you
1:55
can go to my Instagram page at mortgage marketing radio and just DM me review and the
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be a special surprise gift bonus in there for you.
2:04
So that's Instagram mortgage marketing radio.
2:06
Let me know that you're left to review, just enter a DM me the word review and I'll be
2:15
in touch.
2:16
Okay.
2:17
So before we get into this week's very special guest, I wanted to give you a quick update
2:20
what's happening in the field.
2:22
As you may know, I'm in the field every single week in my local market and then nationally
2:26
through our small group of elite loan officers that are doing cool things in their local
2:33
market to actually grow and move their business forward even in today's market.
2:38
So quick couple updates coming to you.
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This one's from Nick.
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Nick's been a member of our community now for gosh, a little over a year, I think if
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not quite a bit longer than that.
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And Nick just shared a story with that he had a one and a half hour call with an agent
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who did 83 transactions last year.
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They talked all things social media and Nick was able to actually give this agent who
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does 83 transactions to share resources with his agent that he did not have specific
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to the agents YouTube channel and social media.
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And this agent had watched classes that Nick had been teaching by way of our small group
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membership had been watching the classes that Nick had been teaching and had never signed
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up had watched Nick teach five classes and be consistent.
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And this is what led to the conversation is this agent who sold 83 homes was impressed
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with what Nick was doing and wanted to learn more.
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And Nick made a point about the classes is you never know who's seeing the classes.
3:45
You know, we're helping you promote them on social media through the images and the
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content we give you.
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We're helping you promote them through email and SMS through messaging and outbound efforts
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through the list of top producing agents we provide for you in our membership.
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And Nick followed the program he just kept doing it just kept flipping doing it as he says
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forgetting about being perfect screwing up and move on.
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And now this agent and he are in conversations together and Nick says he will get his business
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his offices business because he has more to offer than his current lending partner unique
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value.
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We're going to hear about more about value in just a moment from our special guest who's
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been on my radar for some time.
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But before we do, if you want to learn more about what we do, how we help people like Nick
4:31
and other mortgage professionals across the country get conversations, get awareness and
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deliver unique tangible value to agents that no one else is delivering.
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You can go to mortgage marketing.pro.
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It's not for everybody schedule a time with me for a brief conversation.
4:45
We'll see if there's a fit.
4:46
And if so, we welcome to the family.
4:48
And if there's not a fit, hey, well, part is friends and you'll still enjoy this podcast.
4:51
And I'll enjoy having you as a listener.
4:54
So this week, my special guest, Wally Ellibary, who is just an amazing human being father
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and role model, I think dare I say, I'm fan, fanboying here a little bit and a lot of different
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ways.
5:07
And while he's been on my radar for a number of years to have him as a guest on the podcast,
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I saw him recently give a talk at sales mastery, again, don't get sales mastery.
5:14
If you haven't been, you should be.
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And once again, always just thoroughly impressed with what Wally's doing.
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And so it's an honor to have him share how he's grown his business to now over $200 million.
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And we're going to break down a couple, just a couple key concepts that I want you to take
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notes on.
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This is one of those you're going to want to go back and listen to.
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You're going to want to pause and write down the ideas and most importantly, implement
5:37
them.
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Because there's two or three nuggets on here that if you just picked one of them, particularly
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the one where Wally talks about doing the annual mortgage efficiency reviews and how he was
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able to partner with financial planners and others to take his database from 2000 past
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clients to over 26,000 people in his database.
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You're going to want to listen to this episode and you're going to take an action on these
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ideas and then check out what Wally's offering through the website, the show notes here at coachwally.com.
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That's also where you'll find links to what we're offering in our platform with the
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agent classes, mortgage marketing.pro, those links are in the show notes.
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And look for mortgage stuff to come from Wally.
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He's just doing amazing things out there.
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So without further ado, let's get into this week's show, Wally, welcome to the show.
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Thank you.
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Thank you.
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Thank you.
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You, John, definitely a big fan and looking forward to the out of guide.
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The honor is ours as well.
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So those that don't know who Wally Ellibary is, why don't you tell us how long you've been
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in the business and whatever else you want to share about you.
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So I'm old.
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I'm 44 about been in the business, actually, I'll be 44 this weekend, by the way.
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And I started when I was 24 years old.
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So I'm sorry, I've been in the business 24 years, I wish we could do this over 19 years
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old.
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And now I'm 44, so it's a very long time.
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So it's not 25 years a quarter of a century.
7:06
Wow.
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I built it.
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Started the business.
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Probably started taking my business pretty serious back in like 2013.
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Back then the business was like 36 million or so somewhere in that range.
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Then that following year went to from 36 million to 80 million.
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And then you got broke the 100 million dollar barrier like three years ago.
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It was 150 million a year after that was 200 million.
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And now I've taken my models and systems.
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And now I go to lead low and officers to be able to replicate that.
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Fantastic.
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All right.
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So first question for you, what's the hardest growth stretch?
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Is it the 30 to 100 or you know, because you hear people say making your first millions
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of hardest and then after that, it gets easier.
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What's the hardest in origination?
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I probably say yeah, the 2014 and 2015 run, where you're doing almost 40 million.
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But the big number one key factor that I did was I was working with like 42, 43 solo
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agents in 2014.
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So over 40 agents and trying to keep everybody intact and you know, names, phone numbers
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and blah, blah, blah and had no assistant.
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And went to hire my first assistant back in 2014.
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I went from 43, 43 realtors doing 40 million a year to three mega agents, three mega
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agents doing 80 million a year.
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The number one thing the hardest thing in my whole entire career was walking away from
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40 plus solo agents and not doing business with them anymore and landing three mega agents
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and having to be a caliber to be able to attract three mega agents.
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So mega agents, the realtor, it does over a hundred million dollars a year and closes.
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Okay.
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So there's like only nine, there's only nine here locally and Dallas for worth and we work
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with seven of the nine really, I respect them.
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So it's just where as a loan officer, most loan officers go off, go after like lower producing
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agents because they don't really know how to add value.
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I hired a real estate coach in 2013.
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They coached me for 16 months of how to be the bet that they've had from teaching me,
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it was like $6,000 a month, but coaching me how to be the best realtor possible, how to
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host the best open houses, how to do the best listing presentations, how to do the best
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like pie events, like made me the best realtor possible.
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All I did was take what he taught me and went and started coaching realtors, take what
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he taught me and went and started coaching realtors.
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Before I knew it, Gary Keller with Kell Williams asked me to be on the only lender period
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of being part of his maps program, it's called a one thing certified coach speaker and
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trainer.
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And then I started hosting classes of how to coach realtors to do more business.
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So that's how I was able to land three mega agents.
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Okay.
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There's a lot in there, like the whole up there.
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Okay.
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So you decided to coach realtors who paid obviously an expensive amount of money to get
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this coach to learn how to be do it, to do that.
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One would think, now you use this probably in advance of approaching those $100 million
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producers because you want to kind of like you said, add value, have something of uniqueness
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to offer, right?
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That's part of the reason why you went down that road.
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Yeah.
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Okay.
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So let's deal with the first perception of, but wait a minute, don't these mega producers
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already have it all figured out?
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They do.
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And I never went to the top.
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I've worked with William.
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So I was basically, I tried to win the head open houses and who's an open house buyer's
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agents for the mega agents.
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I'd go there, established relationship, I walk in there, one arm would be a box of cookies
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in the LR and be sodas and I have my mortgage coach presentation and I'd ask myself if
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I can be there during their open house and I'll help drive traffic to your check-in sheet.
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And I started talking to finding gaps in their business, gaps in their business.
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And then when I started helping them in other improve their efficiency of the open house,
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you know, for instance, most people that know this, but most people think a realtor goes,
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but to sign in the yard, it does the open house and then they fill it in a form.
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Well, there's a door knocking strategy, the door knock, 10 doors to the right, 10 doors
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to the left, 10 doors behind and one street behind, 10 doors in front.
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And then there's also another strategy for open houses of being able to do a social media
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marketing around that specific area for at least the five days before the open house,
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like traffic, traffic, traffic, traffic, traffic, traffic.
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Right?
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So as I'm sitting there with these realtors doing these open houses, I'm just spending
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these great, this idea, after idea, after idea.
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And it's like, well, I don't know how to do this, well, I do.
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So I want to earn, I want to be your lending partner, I want to help you grow your business.
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In return, I want to earn you referrals, well, why don't you let me help, why don't you
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let me help you do this on the social media?
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Why don't you help me let you help you do this on the door knock, you can't spend it?
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Why, and I just, and then from there, they allowed me to help.
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And when the buyer's agent became a raving fan for me, what did I ask you to return?
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Go tell your team leader, go tell your team leader.
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Before I knew it, the team leaders were calling me and say, hey, like, you help Sally, you
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help Bob, you help Betty, um, don't want to come in and scrap a cup of coffee.
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Wow.
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That's brilliant.
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Um, okay.
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Did you intentionally target these buyers agents that you knew were part of that larger
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team?
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Yes.
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Absolutely.
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So that was strategic number one, number two, back to that, the tactics you're talking
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about, the door knocking kind of what they call circle prospecting in the real estate
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space.
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So that's, I mean, again, I'm kind of finding that, you know, because I, I mean, to me,
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circle prospecting is like one of the obvious things that an agent should be doing, right?
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Yeah.
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Right.
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What do you think the percentage is of them doing it?
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Right.
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That's 10% 20.
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I don't know.
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Very low.
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And that's it, right?
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And that's where like, you know, one of my favorite mega agents I've landed, um,
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leader name, name, nameless, but her buyer's agent, uh, the year I landed him, he, he
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did 54 open houses in a 12 months count, 54 open house, he was doing two plus a week.
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And what was phenomenal about that is helping somebody of that magnitude be more efficient
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and more effective, be a circle prospecting, be the balloons in the, in the front yard, be
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the follow-up strategies, be the, the flyers on doors, the digital aspect of it, the
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private messages creating and going to that private Facebook group, being able to add value
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to him.
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We did that.
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That was the first year we broke a hundred million and he was 36 million over a hundred
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million.
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He was one, one dude that I met at open house was 36 million over a hundred million.
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And he was a part of a larger team.
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He was a part of a larger team.
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He was doing about three hundred million dollars in closings.
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And so you got invited to be part, to the party, so to speak, I'm going to assume there
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was an in house lender there or a team, you know, lender association, yeah, that'd prefer
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a lender of like 15 years.
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And that's, and that's fine.
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I'm not attindated by that, right?
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All I ever ask is, hey, I'm going to add value to you.
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If you find me valuable, allow me provide for my family, right, right, okay, very cool.
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I'm just going to keep going because you can handle the rapid fire stuff.
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The social media strategy, we're back to the open house.
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So that, is that running Facebook ads with like a custom audience or what is that?
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That's exactly what it is.
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Basically creating a Facebook ad, writing the custom audience and creating a look alike,
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look alike audience, right, and what's shocking to some and still to me, you know, because
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you think about the buyer's agent on this large team, you would think that the team
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would coach or instruct the buyer's agent to do circle prospect, right?
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Yeah.
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But you found that that's not always the case.
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Yeah.
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And it's kind of like what you told me earlier on the call was before we helped on, you've
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seen me around and around sales mastery.
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And you remember what you said about execution?
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Yeah.
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That's the biggest difference is I've really, really effectively learned how the dissect
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the big project, but to bite down, size down pieces and hex, to size down pieces.
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Okay.
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Wow.
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So listen, everybody listening.
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That one strategy right there, like if you just help go to these open houses and help
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them be more effective, efficient, execute on the stuff we all know should be getting
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done.
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And by the way, it seems obvious, but I want to highlight what might be the obvious.
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Is there's a perception that oh, they already know what to do, right?
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But you've clearly illustrated as I see every day in my chair that I'm in and what I do
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locally in my market, I talk to quote top producing realtors every day who are not executing
16:16
on things they know they should be, but they're not.
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But Wally comes in, that's your unique value ad is I can help execute on this.
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And you're solving a big pain point for them.
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Absolutely.
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And I'm doing something even more important than that.
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I'm giving back their time, ah, yes, giving them back their time.
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And then what is your time, what is your time worth, right?
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Is that worth of referral to me a week?
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Is that worth of referral to me a day?
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If they're on a big top producing team like that, they have business, they have referrals,
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they have clients, right, yeah, to be able to add value, you have to be valuable.
16:55
Okay.
16:56
So here's another thought I had with you articulating what you do.
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And I always try and put the listeners, like the feedback, you know what I mean, what
17:06
I know about the general audience of loan officers as a whole.
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Did you have to set your ego aside to do that?
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No, dude, I was, I've got an amazing life at home, but I mean, I got to provide for her,
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I've got to provide for my two sons.
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I mean, I wouldn't, I'd come to your house and clean your toilet if I needed to pay
17:29
my mortgage for our family.
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So there was no ego I had to provide the symbols on.
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We'll then do what it takes, because people, how do I add value?
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How do I show up and be different, right?
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Are you willing to do what Wally just described here and get out there and roll up your sleeves?
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That's a work before I planned.
17:47
I think it's, I think every, every, I think Dave savages of this before and maybe like
17:53
three six months ago and I'm like, I thought he's crazy.
17:56
You said, you literally have to take your 2022 business plan and throw that damn thing
18:02
out the window like this market she's so much that your business plan makes zero sense.
18:06
There's nothing on that business plan you're going to be able to execute and you got
18:09
to get back to the basics, face to face, hard to heart, relationship to relationship.
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You got to get to that back to the basics and I mean, I've got 12 loan officers that
18:20
work for me here in the branch and power lending and I'll walk out there all the time
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and like, why are you here?
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Like literally, why are you here?
18:27
Right.
18:28
It's cool.
18:29
It's funny.
18:30
Like, let's walk a second ago and I'll walk down the front of the restroom and there's
18:33
a loan officer, Shane's like, I'm leaving.
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I'm just here for five minutes and I'm all the way out.
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I'm going to copy point minutes.
18:38
Thanks.
18:39
Good.
18:40
Good.
18:41
Get out of here.
18:42
You don't need to be in the office.
18:43
Right.
18:44
Great.
18:45
Great.
18:46
Great.
18:47
I was so much thrown through my head.
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Let me briefly then touch on you going after the teams.
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You mentioned classes.
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It's near and dear to my heart.
18:55
Anybody listening knows?
18:56
I lead with classes in education, did when I was originating.
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What can you tell me more about the classes you did or do?
19:03
How do you integrate those?
19:05
Yeah.
19:06
I'd say, you know, Michael Mary taught me this and I was at this time.
19:10
I was like, wait a minute and teach me this and you came up with a three and a half
19:14
most powerful questions.
19:15
You taught them to me.
19:17
Three and a half most powerful questions.
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What have you tried?
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What are you going to try next?
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How are you going to try it and by when?
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That's a conversation.
19:27
Little when you're talking to a realtor like, hey, what have you tried?
19:31
How are things going?
19:32
Talking about your business?
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I've been trying to prospect that those three and a half most powerful questions lead
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you to one thing, gaps in their business of that.
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I would take notes of those of the copies of lunches and I would just be a listening
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year.
19:47
Right.
19:48
And I'm writing that gap, gap, gap, gap, gap, gap, gap, gap, gap, gap, and what did I do?
19:52
I came back to my friend Google and I said, hey, Google, what's that, how do you do the
20:00
best open house?
20:02
How do you do the best listening presentation?
20:04
How do you do the best and it was like, hey, Mike, I was talking to you the other day.
20:09
You said that you were having a challenge or a listening presentation of getting by
20:13
and you want to increase that conversion rate.
20:15
I'd be ever thought about doing that, that, that, and I'm freaking reading off Google
20:19
of what that, that was, right.
20:22
But it gave them ideas and the loan officers were calling them that day, hey, can't referral,
20:27
can't referral, can't referral, yes.
20:29
But I figured out where they can improve on the listening presentation, telephone and
20:34
that's adding value by being valuable.
20:38
Yes.
20:39
It reminds me of a quote I go to often of a realtor I worked with back in the day, Long Beach,
20:44
California, Walter Sanford sold a home a day every day for 16 years.
20:50
And what he told me about bringing ideas to real estate agencies, even if they never
20:54
use or implement the idea, it's the fact that you brought them the idea is the difference
20:59
maker.
21:00
Well, and then also the conversations that you have, I can't tell you how many times I
21:06
go these real estate conferences or seminars or classes, oh, your wallet, you helped
21:11
me.
21:12
And I don't mean this in a way like, I was never the real estate agent whisperer, right.
21:19
That was never me.
21:20
I was never at that magnitude.
21:21
But I built an influence here in Dallas of me being able to improve realtor's businesses,
21:26
improve realtor's efficiencies, effectiveness that it became a recruiting platform for me
21:32
to come in and be their coach.
21:34
Your mortgage loan officer that coaches realtor is because you got the certification and Gary
21:38
Keller backing you up with the one thing, maps coaching, I got my certification as
21:42
John Maxwell leadership coach, Zigg Ziggler, effective coach, his program is called effective
21:48
coaching.
21:49
You know, these are these are motivational efficiency leaders.
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And it is important to me that I had the credibility.
21:58
And now they saw the capability of me being able to coach.
22:01
Right.
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So it's not just the certifications that created the credibility.
22:05
It's what you did with them.
22:07
That's the conversations.
22:08
And they also see the trajectory that team, all it was doing, you know, from 36 million
22:14
to 80 million to 100 million to 150 to 200 million.
22:18
And what's super cool is like, I'm like an elbow book.
22:20
So if you go to my Facebook page, you see my life, you see that from the golf trips to
22:25
the lifestyle and like, how the hell do you have that lifestyle and you got this big
22:31
ass business?
22:32
Oh, and you have 11 apartment complexes that you have over 480 rentals and you took two
22:38
weeks off to go to Boston and MIT to be with your son as college program there.
22:45
Like that shows them you can have a big ass business, massive amount of wealth and with
22:51
quality time.
22:52
Well, it is, they want them.
22:55
They want that ability to have a quality life, a big business and wealth over said, you
23:01
want to.
23:02
All right.
23:03
Quick side note.
23:04
Your son's in MIT?
23:05
Son is a 15 year old.
23:07
He is, he summer program last year to go at MIT for like a week with the professor.
23:18
And I was the intimidated one.
23:20
So I did a father and a century once a year.
23:23
I got two boys.
23:24
I called Braden the Brave, he's 17 now, but he's my golfing buddy.
23:29
So he and I went to Kewa Island to play 36 holes a day for three days, super easy and
23:34
put like zero thought in a head of glass.
23:36
However, I had more fun with Alex, Alex because I don't even know how to spell the word
23:41
engineer, but I watched, I probably say six weeks worth of engineering YouTube videos.
23:49
And I memorized five questions because it was going to be me and Alex and this professor
23:53
for like a week.
23:54
I got there.
23:55
I got nervous until I forgot two of the questions I was remembering.
23:59
And I was asking his questions throughout and the professor, the professor goes, oh, that's
24:04
a really good question.
24:05
That it on like, you know, I got one now that it is, it's like, it's comical and I've
24:12
got to watch YouTube videos to be able to talk to my, now he's, now Alex is 15.
24:17
But to be able to talk this on.
24:18
So he, that's where he wants to go.
24:20
He was just in Notre Dame about two weeks ago.
24:23
And now he's wanting to talk about possibly Notre Dame.
24:26
So I'm going to keep him as far away from origin.
24:29
Everything else is possible to where he just, he just reaches dreams.
24:33
That's awesome.
24:34
I can relate to that because I think my son applied my older son to MIT.
24:37
He's at Cal Poly, San Luis Obispo right now.
24:40
Okay.
24:41
Junior.
24:42
That's a well top 10 engineering school as well.
24:44
Yeah.
24:45
I don't, I can't, I didn't do what you do, which is why so it's YouTube videos.
24:49
But I'm just going to have to impress him when he comes home in seven days.
24:52
I'm going to watch something and I'm going to ask him a question and be like, well,
24:55
how do you know that?
24:57
Well, it, and also like, dude, like on Instagram, I'm always following different types of engineering
25:03
and like, cooling ideas like that and I'm like saying it, you know, the DM, the Alex,
25:08
hey, dude, this was a cool thing and it's why I learned from it and it's like I'm just
25:11
trying to communicate with him and his language.
25:14
It just, he's so smart and is so brilliant that I've, it's cool to feel like we can relate
25:19
to that and it's getting easier before I felt like it was, it was work because I didn't
25:24
know much about engineering.
25:26
That's funny because I've done the opposite of that parallel as I've done the expose
25:31
them to Jim Rohn and expose them to like, you know, all the mindset leadership stuff
25:35
that I think they need coming up in the world to hopefully like, you know, prepare them
25:39
for the future.
25:40
So that's cool.
25:41
We're doing similar stuff.
25:43
I think it was some great parenting advice I got was, do what your kids want to do with
25:48
you?
25:49
Not do what you want to do with your kids.
25:52
Exactly.
25:53
So we sit down every, every December and we play in the following years vacations.
25:59
I do family vacations a year, five vacations, my wife a year and five golfing vacations
26:05
a year.
26:06
So the 10 family of vacations, Brandon and Alex get to plan them out.
26:09
Yeah.
26:11
cadence on that like once a quarter, that's that's like summer on the summer.
26:17
It's usually like, oh, yeah, yeah, okay, got it.
26:20
Wow.
26:21
That's cool.
26:22
People right now want to know how to do that.
26:23
But let's come back to, okay, back to the, okay, your coaching realtors and stuff is part
26:32
of the way you built up this, hey, walley's known as the guy who coaches agents, helps
26:36
agents, whatever.
26:38
You also, at some point, your presence to your point earlier about guys, why you hear,
26:44
you were seen everywhere.
26:45
Is that accurate?
26:47
Like your presence in the realtor community locally, I'm sure you built that up.
26:51
Yeah, definitely did, but the biggest thing was I probably go to a real estate training
26:56
class, at least once a week, if not more than once a week.
27:00
Most of these real estate companies will have a weekly script training class.
27:04
So I'd go in there and I would be role-playing with a realtor and talk about success that
27:11
had that weekly script ask questions, and what are you going to do when I left?
27:14
Hey, Bob, I really enjoyed talking with you and his script practice with you.
27:18
Will you be my script accountability partner?
27:20
I'll call you every day at 8 a.m., we'll do it for 15 minutes and you go on your way.
27:26
The loan officer's script practice accountability with a realtor that produces a lot of business.
27:31
Right.
27:32
I'll call for us maybe.
27:35
And then there's one of my favorite classes for a couple of aims, it's called Recruit Select.
27:41
Now it's called Career Visioning, but it's how to build a team and how to build a business
27:47
and it's like a lot of leadership coaching.
27:49
So a majority of the producers were in that class, where producers that did $50 million,
27:55
$75 million, $100 million, realtors and more.
27:58
And then there, I'd go in a class in front row, establish a friendship bond, rough about
28:04
with the speaker, the speaker that's teaching that class, or I reach out to him beforehand
28:08
and say, I don't know, hey, I'm a lender, I'm not part of Kelly Williams, but I'm here to
28:13
learn for you and this is what I'd be able to build from you all's teaching.
28:16
I took that class 11 times, 3 day class, I took it 11 times.
28:21
Now if I'm in the room with $50 million producers, the $200 million producing realtors, now
28:29
I'm understanding how to build a mega agent real estate team.
28:33
And I've reduplicated that in team all, in the team that we built.
28:37
You think that gives me a authority or relationship with those agents to continue that conversation
28:42
after that class?
28:43
Yeah.
28:44
Yeah.
28:45
I'm still very next to have eight hours a day for God's sake, for three days, and it's
28:49
easy to continue that relationship.
28:51
And this applies, though, for people who aren't even building, quote, team Wally, you know
28:54
what I mean?
28:55
They're just an individual LL.
28:56
Yeah.
28:57
There used to be no team Wally back in the day, but yeah, absolutely.
29:00
Yeah.
29:01
You didn't start with team Wally out of the gate?
29:04
No.
29:05
I was seeing Yahoo.
29:08
That's awesome.
29:09
What about you?
29:10
Did you ever or do you ever teach classes to agents yourself?
29:14
Yeah.
29:15
I did.
29:16
There's a Berkshire Halfway office here in Dallas that has become siege, the one day certification
29:21
or one day class.
29:23
Also, there's five levels of leadership that I teach the job Maxwell's course.
29:27
Got it.
29:28
So it might be who've a loan officers to have a certain knowledge set, right, of information
29:36
that they could relate to agents, teams, and offices that they would find value in,
29:40
whether that be, you know, teaching agents how to do social media or video or whatever
29:44
it is.
29:45
Right?
29:46
Yeah.
29:47
I mean, I think what you've got to figure out is there's a great book I read that changed
29:51
my life.
29:52
It's called Positioning and Knitching by Jack Reese, Positioning and Knitching by Jack
29:56
Reese.
29:57
I'd probably say top three best books of our Red Mollies, top three best ones.
30:00
That says a lot.
30:01
Knowing you read a book a week, Position and Knitching and like Chinese the way I look
30:06
at everything.
30:07
And basically, I'll give you kind of the gist of it.
30:09
It says you, whatever industry you go into, you've got, you've got to create a niche for
30:15
yourself in the industry and you've got to build it to where your number one or number
30:19
two in that niche.
30:21
Well, I studied around and I saw the, I saw the, you know, like the, the, the, the East
30:27
County, he's in the world, one of the best digital markers or social media branding humans
30:31
like in history, like in any industry, right?
30:33
Well, that's not me.
30:35
Like I would love to think I'm as brilliant as, as her or any of us.
30:38
I'm just not, but I love systems.
30:41
I love efficiencies.
30:42
I love models and I'm like a geek in that.
30:46
I really love that so much that became how I built and structured your team in the models
30:52
of systems to where, you know, there's a agent that was on a, that was a, remember that
30:59
lead buyer's agent that I told you that they would do $36 million a year on for open
31:02
houses.
31:03
Well, he wanted to go branch out, build his own team.
31:06
Well, what did I do?
31:07
I set up a serum.
31:08
I've heard Raymond coded it, it customizes that are my, Josh, my tech guy did.
31:13
We set up his ring, central phone system.
31:15
We set up his email, click phone, okay, he fades.
31:17
We set up his social media pages over and over and over and over.
31:21
Like he's one of my best friends, but if he fired me tomorrow, how the hell is he going
31:26
to rebuild all of that?
31:27
Yeah, that's called pain of disconnect.
31:33
But I needed, I needed to be able to add value to do that.
31:37
Right.
31:38
Right.
31:39
100%.
31:40
All right, so that is a big headline from this section is adding value, equipping or learning
31:44
the skills that you need to add that value, which clearly is not, hey, I can help you
31:51
do alone.
31:52
All right.
31:53
That is valuable, but that's not necessarily unique.
31:56
Yeah.
31:57
Okay.
31:58
Great.
31:59
Let's pivot then for a moment to what you partially talked about at sales mastery, which
32:02
I wanted to cover here, which is this loan concierge concept, right?
32:10
So loan concierge is something that we, you know, at least I've heard about it.
32:13
I think people generally understand when they hear the word, they're like, oh, concierge,
32:16
I get it.
32:17
Somebody who helped, would you do me a favor and just kind of like articulate what your
32:20
version of a loan concierge is and what roles they fulfill?
32:24
Yeah.
32:25
And I woke up in 2017 after I've done can beat this in my head a thousand times that
32:33
my back in 2017, I think the team is doing like maybe 75 million, 100 million somewhere
32:38
that range.
32:40
And it had zero value.
32:43
Imagine working for almost two decades of your career, building a $7,500 million team
32:49
having zero value.
32:50
And what Todd just trying to help me understand is your business is value lists as no EBITDA
32:58
and no nothing simply because you're 90 plus percent realtor brand new business.
33:04
And I was like, I was like six percent realtor pass client.
33:07
I'm sorry, database pass client business.
33:10
I mean, any business has repeating pass clients.
33:13
So at that time, I built a great leadership team that started taking over the relationships
33:17
of mortgage and doing the loans.
33:19
So I got back my time and I started doing annual mortgage reviews with clients.
33:24
But I was that lender that, you know, I close you, I'd find a realtor, get a client, close
33:29
the loan and get a commission repeat.
33:32
But for H drop, I call you an act like I was your best friend.
33:36
I don't know if I might be the only one out there, but that was me for probably not.
33:41
Yeah.
33:42
Now with that being said, I started reaching out and it's a hey, you know, we closed
33:46
mortgage a year ago, five years ago, seven years ago, whatever it is, I want to start
33:50
doing an annual mortgage review with you, give me about 15 minutes of your time and I'm
33:55
going to go through and dissect where the mortgage is today through my mortgage coach,
33:59
through the mortgage is today and my goal is to find it in efficiencies I can help coach
34:03
you on.
34:04
Obviously, those led to refinances around that time, but I found clients that did not have
34:10
their home set exemption filed in Texas.
34:12
You get a discount on your taxes for having home set exemption fund.
34:15
I had clients that had an escrow shortage because they never shopped around their home
34:19
insurance.
34:20
I had clients that they were like at a 60 percent loan to value you forgot six, but still
34:26
paying MI on a conventional loan, right?
34:29
None of us do anything to refinance.
34:32
I had clients that their taxes went through the roof, but they don't know how to dispute
34:35
the taxes and the county had their, their, their square footage incorrect.
34:40
So it gave me the ability out of value and at the same time, what I've realized was they
34:46
were asking me questions like, hey, Wally, like I've got this, I need a CPA, who do you
34:50
know as a CPA?
34:51
And like, I got my dude that does my taxes, but I don't really have a partnership one.
34:55
I don't have a financial advisor.
34:57
Hey, Wally, I should get life insurance.
34:59
Hey, Wally, should I get the family willing trust?
35:02
They were reaching out to me and asking me for referrals and I just didn't have a wealth,
35:06
now we called the wealth team.
35:08
So 2018, we started focusing on doing an annual mortgage of views, 2019, we started building
35:14
a wealth team.
35:15
So what was really, really, you know, it's a godsend, obviously we know I happened
35:19
in 2020 and 2021 with grades, but I started with a database of roughly around a thousand
35:25
people.
35:26
But over the two, three years from 2018 or like 2019, it went up to like 2000 people.
35:32
But it was great.
35:33
I realized I built a client concierge team that would reach out to these clients and
35:37
set up appointments on my calendar to do an annual mortgage.
35:40
So that's all a client concierge originally was Bob, that would call a client and Bob
35:45
would schedule an appointment on my calendar three schedule once and I'd have an appointment
35:48
on my calendar.
35:49
But then I realized my client concierge can also do a seven day call.
35:55
My client concierge can also do a 30 day call.
35:58
My client concierge can also do a six month call and yes, my client concierge can schedule
36:03
my annual mortgage.
36:06
What was phenomenal about that format is that I was able to take those four things, the
36:10
seven day call, 30 day call, the scripts and models and systems that built the six month
36:14
call and then an annual mortgage view and sit down my financial visors, sit down my
36:19
with my CPAs, sit down my family will attorney, sit down with my insurance agent, sit down
36:24
my real estate and I get agent teams and that's the key how to go from 2000 people to database
36:30
to now we've got over 26,000 people at home box, 26,000 households at home box.
36:35
And in 2023 late, 2024 when we had a refive them, how is that going to work out for me?
36:44
Right?
36:45
It's not too late.
36:47
And that's where like, you know, clients, people on officers that I coach, your line
36:52
officers that have reached out to do site visits, like what, well, you only did that really
36:56
when rates were super low and you're able to capture like big database that I might
37:04
of, I'm not saying you're wrong, however, it's not too late to adopt one of your realtors
37:09
of CPAs databases into your world now, start doing annual mortgage reviews and within 12
37:15
months to 48 months or whatever it is when the next refive owns, you're going to crush
37:19
it.
37:20
So to me, that was worth a $15 an hour client down to years.
37:24
That was scheduled as appointments for me.
37:27
So do me a favor if you could.
37:29
I might have missed it.
37:30
I'm trying to dot the lines over from that growing your database.
37:35
When you said sit down with my CPA, sit down with your, you know, and you're doing these,
37:39
you know, reviews, if you will, or discussions at the 736, 12 month mark, how does that really
37:45
lead to you get doubling your database essentially or more?
37:48
Yeah, it's just, it's a say your financial advisor.
37:50
What am I doing?
37:51
I'm asking you three half most powerful questions, right?
37:53
And I'm finding gaps in your business.
37:55
One of my favorite questions is to ask is, did I'm a super bless?
37:59
There really are folks on my database and adding value to them on a monthly or quarterly
38:03
basis.
38:04
Do you miss your financial advisor ever struggle to adding value to your past clients?
38:09
Then out of 10 times, the answer is yeah, you know, we try to add value, but you know,
38:16
I do an annual financial review them once a year and, you know, we send them a, we send
38:21
them a Christmas card and a birthday card.
38:24
The response I have is like, well, what if there's other ways for you to add value to your
38:29
database through your partners?
38:32
What if there's other ways that you can add value to your database with other partners?
38:38
They ask what that is and I say, hey, I'm not going to tell you, I'm going to show you,
38:44
I'm not going to tell you, I'm going to show you, email me a copy of your mortgage standard.
38:48
Financial advisor emails me a copy of the mortgage payment.
38:51
I go through and do a TCA, act like they're one of our past clients, do a home bot form,
38:57
and I call them to an annual mortgage review.
39:00
I go through the mortgage and dissect everything and anything they have in the mortgage where
39:03
the inefficiencies are and today they're not called annual mortgage reviews or called mortgage
39:07
efficiency checkups, mortgage efficiency checkups because we started calling clients over
39:12
their rates right to 3% like, well, I don't need to do another call like well, there's
39:16
efficiency that we can help you folks on, but we can say that for later.
39:20
But once I crushed any mortgage review with that financial advisor, some of the question
39:26
from there, as a closing question, would you see benefit if I did this for your clients?
39:31
Right?
39:32
The majority of times that send me to the database, we make an email intro video of me and
39:36
the financial advisor and send it out through bomb bomb and my team starts calling.
39:41
So, some would say, hey, I can't give you my database, but we create an opt in structure
39:47
through home bot for them to opt in.
39:50
You know, other financial advisors come back and say, hey, I don't want to do an opt in
39:55
and I don't want to do a, I don't want to send you my database.
39:59
Here's what I do want to do.
40:01
I do an annual face to face or Zoom meeting, annual financial meeting, but my team will
40:08
request their mortgage statement 30 days before, I'll email you the mortgage statement.
40:14
You recorded TCA and you recorded a total cost analysis mortgage coach and then I made
40:21
a video attached to it.
40:23
I put it together in a nice format and made their home bot.
40:26
They said when they sat down with the client to do their annual financial review at their
40:30
office, they hit the play button and I'd start talking about the mortgage efficiencies
40:34
and they'll reach out to me from there because they saw the value from the call limit.
40:39
The point I'm trying to make is the way I got my database from here to here was I went
40:44
out to referral partners and started doing annual mortgage use for them, then the gatekeepers
40:48
released their database.
40:50
Wow.
40:51
That's brilliant, man.
40:53
Really?
40:54
Thank you.
40:55
Simple dad gum brilliant.
40:58
I mean, I'm blown away by the brilliance and simplicity of it to be honest with you.
41:04
I was just trying to provide my family.
41:07
I guess it's it's it's it's not clean and toilets, that's amazing, like I'm just sitting
41:16
here listening, trying to imagine the shock and awe people that are driving and just heard
41:22
that built out right now, like that strategy is something everyone can do, assuming you
41:31
have a tool like mortgage coach or whatever, but still you know we're fans of mortgage
41:34
coach here.
41:35
But the way that demonstrates value in advance, it's powerful, sorry, go ahead.
41:41
Well, even if you don't have mortgage coach, what is mortgage coach like 75 bucks, mortgage
41:47
coach?
41:48
I mean, that's where it's just like, that's one thing I've been blessed with and I really
41:54
enjoy doing is connecting those dots.
41:56
Yeah.
41:57
It takes such a big goal or big exercise or big whatever and I'm able to like just reverse
42:03
engineer it and you know, it's it's it's it's not I don't want to sell it so short
42:10
and say it's not brilliant, but it's not hard.
42:14
Well, sometimes the simplest and best, you know, are or the the best are simple, right?
42:18
I mean, brilliant call that kind of jazz don't over complicated.
42:21
It's just like, it's just I'm a big fan, obviously, like so before of the one thing,
42:25
like Gary Kelly speaker, a trainer and he's got a question on there that says, what is
42:31
the one thing such by doing it makes everything else easy or unnecessary?
42:35
Yeah.
42:36
I spent all, I can spend the next 20 years trying to capture 26,000 people on a database.
42:42
Or if I can add value to the gatekeepers that already have databases, it's game over.
42:49
That reminds me of the book, Who Not How?
42:51
Yeah, that's a good one that's it was a flywheel for me when I just switched it from how can
42:57
I do this to who can help me?
43:00
Yeah.
43:01
And what guy she here won't get you there is also another grip.
43:04
Beautiful.
43:05
Love that.
43:06
All right.
43:07
With a few minutes that we got left, I want to bounce back briefly on the working the
43:11
mega agent teams because I got MMI hope at open and I'm looking at the the buy side agent
43:17
relationships and and I've looked at a lot of these you do have probably an inordinate
43:22
amount of compared to other top producers that I've looked at.
43:27
And in order, how can I say this, an ordinent amount of capture of volume like I'm looking
43:34
at Christie, Terry Lance, you know who these people are KW, 21, 21 deals, 12, 10.
43:42
But I see most often when I look at most, you know, people in the same stratosphere as
43:47
you, is I see a few gathered at the top and tons of ones each of us.
43:57
So how has that changed your evolved for you, beings that, you know, we know now your
44:02
plan is to go after these huge teams?
44:05
You know, it's candidly, it's probably going to start changing and Denise kind of were
44:11
in a seminar this last week and she said one of the most brilliant things I've ever.
44:18
And Denise said that she's learned to fish with a fishing net instead of fish with a fishing
44:24
pole.
44:25
Mm hmm.
44:26
I've been fishing with a fishing pole and landing whales, right?
44:31
And I've had a ceiling of 200 million plus where if like you look at Denise's MMI, she's
44:37
working with a lot of solo agents, she's not working with any mega agents.
44:41
So I want y'all to look at my business and Denise's business, we both do 200 million plus
44:47
of the loans, but I work with mega agents, she works with solo agents, there's multiple
44:51
ways to do it.
44:53
My niche is coaching.
44:57
If I went after solo agents, they don't really give a rip about coaching, they're just trying
45:02
to sell a house to make the car payment.
45:05
So I took what I'm really good at, which is coaching leadership models, systems, technologies,
45:11
and went the direction of who I'm going to go after the most, at the most amount of success,
45:16
which is mega agents, and they appreciate that type of leadership.
45:19
Denise is equally great at all those things, but she's 10 times better than me at branding.
45:25
And then she's figured out her niche.
45:28
So this because like I'm landing whales, I need you low enough to understand this multiple
45:34
ways of doing it.
45:35
And there is no right or wrong way.
45:36
Just figure out what works well for your personality, your behavioral style, and what
45:40
you enjoy doing.
45:41
Right.
45:42
That is the ticket right there, which again for a lot of well, my listeners and or members,
45:49
one of the ways that I helped them do that is providing value through classes and that's
45:52
the way you can have a wide net, you know, cast that wide net, get a lot of people in,
45:56
sift sort, all that kind of jazz.
45:57
That's one way to kind of scale your database and build your brand locally.
46:02
Okay.
46:04
What are you planning for 2023?
46:06
What are you, what are you changing, anything, just subtle changes or any big changes?
46:10
Yeah.
46:11
I'm getting out of production.
46:12
I'm pretty much out of production now.
46:14
So I've created a succession plan, I brought it up on sales master on the stage there.
46:20
And the succession plan was I've taken the $200 million team.
46:24
I've got now it's team Molly's retired.
46:27
Now it's team Shane, team CJ, team Dominic, team Colton, team Jessica.
46:33
And now the loans go in their name.
46:35
Now it's their database.
46:36
They got to keep up the standard of the annual mortgage abuse everything's there.
46:40
But now the loans are in theirs.
46:42
So now I've got 78 hours of my day back of coaching and leadership and creating content.
46:47
So working on a book, work on academies, working on content and the work on the coaching
46:53
program here coming up.
46:55
But it's just, I've got a passion at adding value, but I've got to create content to coaching
47:01
so I can be valuable to loan officers.
47:03
Right.
47:04
Yeah.
47:05
Which I think you've been valuable so far, obviously for many who followed you and
47:08
seeing you at various events and on podcasts, et cetera.
47:11
So you're already doing that, you're just going to take it up a notch.
47:14
And I'm on your site, which we're going to put a link to this in the show notes, which
47:17
is coachwally.com.
47:20
And I love the fact that what I can see there is you're kind of like in that, you look
47:24
like you're at MIT, actually, with that big, and the big formulas on the board.
47:31
I've got, I just see what looks on there.
47:37
It looks good, man.
47:38
I don't know what's on videos.
47:40
Do you want?
47:42
What are the latest videos?
47:43
You're YouTube videos there.
47:44
You've got your black grease board with your tracking and all the lessons that you're teaching
47:48
there.
47:49
Okay.
47:50
Yeah.
47:51
So, I mean, I just love teaching classes and yeah, the video is the break.
47:56
Yeah.
47:57
So that, it's cool.
47:58
That first one's one of my favorite ones.
47:59
It's just 2013, $36 million, then it goes to $45, and it goes $80 million, and how I
48:04
did that.
48:05
Well, there's one of my favorite ones to talk about is, you know, how do you double your
48:09
business and double your time off?
48:10
It's, you know, it's folks I'm building an offensive team, which helps you prospect,
48:19
and they also help empowering them to handle a defense aspect of doing the lot.
48:24
I think that most mortgage loan officer teams hit a ceiling, you're probably $50, $60 million
48:29
a year, which I'm not a dog in that volume.
48:32
But for them to get to $100 million or $200 million, there can't be just the team leader
48:36
and a bunch of minions around them.
48:39
Once a team leader exits, those minions will fail.
48:43
But what's super cool about the team that I've built today that have now taken the team
48:46
and CJ, you know, did $50 million last year, now he's doing $75 million this year during
48:51
this negative shift that we're in, but they've got the ability to, I've taught them how
48:57
to fish.
48:58
I've just not given them fish.
49:00
So if you can teach your team how to fish, they can help you fish.
49:04
If you can teach your team how to fish, they can help you fish.
49:09
We've definitely heard some ideas on how to fish here today.
49:12
So we want to thank you for that and those who want to learn more about your next phase
49:15
here, growing into coaching and everything, coachwally.com, we'll put that link in the
49:19
geonotes.
49:20
Hey, man, this has been a crash course clinic on how to revolutionize your business.
49:26
Seriously, fantastic.
49:27
Thank you.
49:28
You bet.
49:30
On there, coachwally, if anybody wants to go on there, set up a zoom or point me with
49:34
me, feel free to and we'll get us on the schedule.
49:37
Awesome.
49:38
All right, listeners, hope you like this one.
49:39
You know what to do if you did.
49:40
Hey, leave us a review.
49:41
Check the links in the show notes and I will see you on the next one.
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