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Only 19% of Gen Z Trust Loan Officers - Here's How to Fix That · Mortgage Marketing Radio

• 0:00
  Here's a statistic that should get every loan officer's attention.
• 0:03
  Only 19% of Gen Z trust loan officers, yet 75% trust friends and family for home buying information.
• 0:12
  Think about that for a minute.
• 0:13
  The next generation of home buyers wants to own a home, but many don't know where to start.
• 0:18
  They believe they need 20% down, they're confused about financing options, and they're terrified of making an expensive mistake.
• 0:25
  So here's the problem.
• 0:27
  If these buyers don't trust you, they're never going to call you.
• 0:30
  And as you build your business for 2027, that trust gap could be costing you opportunities you don't even know exist.
• 0:36
  My name is Jeff Zimfer, and you're listening to the Mortgage Marketing Radio Podcast.
• 0:40
  Today, we're answering a critical question.
• 0:42
  How do you earn the trust of the next generation of homebuyers?
• 0:46
  Get them into conversations and help turn their desire for homeownership into actual mortgage applications.
• 0:52
  Joining me is Nora Guerrera, Senior Vice President of Community Lending Solutions at Guild Mortgage, and she's a former affordable lending leader at Freddie Mac.
• 1:01
  Nora is sharing findings from a four-wave research study conducted in partnership with YouGov that reveals what younger buyers actually think.
• 1:09
  and what they're afraid of and what they need from you, the mortgage professional.
• 1:13
  And we're getting very practical.
• 1:15
  You'll discover three things.
• 1:16
  Number one, the six emerging buyer personas you need to recognize and how to communicate with each one.
• 1:23
  Second, why your current marketing content may be missing the mark
• 1:27
  and the specific tools and educational resources these buyers are actively looking for.
• 1:32
  And third, how to use AI, personalized conversations and trusted partnerships to build confidence and move hesitant buyers closer to home ownership.
• 1:41
  And here's something that might surprise you.
• 1:43
  Despite all the hype about AI, just 6% of Gen Z respondents trust AI more than a person for mortgage advice.
• 1:51
  That's a tremendous opportunity for law officers who know how to position themselves as trusted advisors.
• 1:57
  So if you're serious about building your purchase pipeline in 2027, understanding these changing buyers isn't optional.
• 2:03
  It's time to close the conversational gap.
• 2:06
  Let's get into this week's show.
• 2:15
  Nora, welcome to the show.
• 2:16
  Thank you so much, Jeff.
• 2:18
  So excited to be here.
• 2:20
  I'm thrilled to have this conversation with you.
• 2:23
  because it's timely, it's important.
• 2:25
  And it's one of those topics that, you know, when people first hear about, I don't want to, for the listener, do not make the assumption that you've heard this before, or do not under emphasize the importance of the information you're about to hear today.
• 2:39
  Because the way I see it, it could determine your success or failure with how well you connect with the buyer of the future.
• 2:49
  How's that for a setup?
• 2:50
  I love that.
• 2:51
  And I totally agree with you.
• 2:52
  We don't want you to miss an additional opportunity.
• 2:55
  I know you guys are experts in your markets, but this may be just something that you might be able to identify.
• 3:02
  These personas are just changing.
• 3:05
  And Jeff, as you and I were preparing for this podcast, we kept saying things like, oh my gosh, this is so different from what we're used to or we know in the industry.
• 3:14
  Yeah.
• 3:14
  So we're going to frame this conversation today in the way of helping the listener close the conversation gap with the buyer of the future.
• 3:24
  So with that said, who is the buyer of the future?
• 3:27
  How do you want to characterize them?
• 3:29
  I think...
• 3:30
  Age demographic definitely plays a role in this, but think of anyone who just hasn't bought a home for different reasons.
• 3:39
  Let's break that out, though.
• 3:40
  Who can it be?
• 3:42
  We've got a lot of these older millennials, you know, that due to the 2008 mortgage crisis, they saw their parents lose their homes and
• 3:50
  they just felt deterred or they just thought homeownership is not for me.
• 3:54
  I saw what my parents went through and it was traumatic.
• 3:57
  Remember so much trauma happened for, uh, you know, those millions of home buyers that lost their homes during the crisis and their children were observers and those children are now older millennials.
• 4:10
  So they've created household formations that had children.
• 4:13
  They now have kids in college and,
• 4:15
  And they just may now be called historical renters, unfortunately, because many of them just said homeownership is not for me.
• 4:23
  These programs are so scary.
• 4:25
  I don't want to lose a home.
• 4:27
  And it's really sad, Jeff, because a lot of those programs are gone.
• 4:31
  We don't you know, we know qualify buyers to the full extent of the credit box.
• 4:37
  I worked at Freddie Mac.
• 4:38
  I really, really was, you know, well-educated on what it takes to be able to create a loan program.
• 4:46
  And as we know, after Dodd-Frank, I mean, the entire industry had an overhaul from servicing to origination to our capital markets team to be able to sustain homeownership.
• 4:57
  And I feel that that older millennial may, you know, have just missed that opportunity of possible inventory.
• 5:05
  Yeah.
• 5:06
  possible affordability, and in some instances, low interest rates, you know, that market while they were after they graduated college, they had opportunities, but a lot of them thought for such a long time prior to COVID, you know, I'm just going to experience, I'm going to travel, I'm going to have a different type of experience than my parents.
• 5:28
  And so they became renters and then COVID happened.
• 5:32
  And they lived with mom and dad for a little bit.
• 5:33
  And I feel like they felt that trauma.
• 5:37
  And so they said, no, I may have to buy a house.
• 5:40
  And in some areas, maybe they got priced out.
• 5:44
  But then I think of that younger millennial and that younger millennial saw the older millennial wait.
• 5:49
  So they were also hesitant.
• 5:51
  But that younger millennial, I feel, has pulled the trigger.
• 5:55
  Like in the age group of 35 years old, and I think that is the buyer that we are now seeing, you know, is definitely active in pursuing homeownership.
• 6:06
  Now we have these younger future buyers, and it's these Gen Zers, you know, second cohort just graduated college, and they've entered the workforce, and they need housing, as we all do.
• 6:18
  So I think...
• 6:19
  There's a good mix somewhere in there of the buyer of the future.
• 6:23
  Yeah, let me clarify that a little bit because I want to make sure people are catching what you said.
• 6:27
  If I'm hearing you correctly, you said the older millennials.
• 6:31
  So let's just, is this 40-ish older millennials?
• 6:35
  Yeah, like about 46 years old to 36.
• 6:38
  So, okay.
• 6:40
  So we can reach as far as to 46 and somebody still considered a millennial.
• 6:45
  Okay, yeah, that's interesting.
• 6:46
  So it's been a while since people have thought of that.
• 6:48
  Just think of that.
• 6:50
  Now I remember the last stat I saw, and you and I talked about this the other day, was that the average age of a first time home buyer has now increased to around 40 years old.
• 6:59
  Is that correct?
• 6:59
  Yes, I saw that statistic as well, yes.
• 7:03
  But what you're referring to here with what you just shared,
• 7:07
  is correct me, I just want to kind of, you know, restate this.
• 7:10
  The older air quotes millennial is the age group that has maybe decided owning a home isn't for them and they are continuing to rent.
• 7:21
  But the younger folks, the Gen Z, the 26 ish, where you give me the age brackets on them.
• 7:27
  They're the ones that have a renewed interest in home buying.
• 7:31
  Well, we actually did a study.
• 7:34
  We're on our fourth wave.
• 7:35
  And we started reaching out to some respondents that were all Gen Zers.
• 7:41
  And we were pretty shocked at some of the feedback we started receiving.
• 7:45
  And it was comments like, I absolutely want to purchase a home, but I don't know where to start.
• 7:51
  Or, yes, I feel homeownership is for me.
• 7:55
  Or my parents have encouraged homeownership.
• 7:56
  We're having those conversations.
• 7:58
  And we're seeing a larger problem.
• 8:01
  engagement, at least on the conversation.
• 8:04
  When I worked at Freddie Mac, I was part of presenting the Buyer of the Future, which was about a four year study.
• 8:11
  And we were seeing so much more hesitation from that age demographic in that era.
• 8:16
  And a lot of these millennials tend to say things like, I'm not quite sure, you know, I'm not sure if I will own a home.
• 8:23
  And it was a little more hesitant where this younger wave of buyers in our in our
• 8:30
  survey were absolutely saying, and it was the majority saying, I'd love to have a conversation on homeownership or I'd love to own a home, but I don't know where to start.
• 8:40
  Do you think the difference in there with the age difference on, you know, the older checked out versus the younger open, want to have a conversation, they're open.
• 8:51
  What's the defining difference?
• 8:52
  Is it the older group are shell shocked, right?
• 8:55
  Had the trauma like you talked about?
• 8:57
  think so.
• 8:58
  I almost feel like, you know, our economic crisis and the housing crisis, you know, and all of these parents sharing these stories with them, kind of created a hesitancy in that older millennial.
• 9:13
  And they just, you know, parents weren't
• 9:15
  as encouraging saying, hey, start saving money, you know, open up that 401k or open up that 401k for sure.
• 9:23
  But it wasn't towards the goal of homeownership.
• 9:26
  The goal wasn't aggressive like it had been in previous generations.
• 9:30
  Like think of those boomers, their parents, you know,
• 9:33
  after the war were saying, we're buying a home, you've got to go to college, you've got to save from a house.
• 9:40
  And it was leading that conversation of homeownership.
• 9:43
  And I feel after the crisis, a lot of those parents were also shocked.
• 9:49
  Like, how did this happen to us?
• 9:50
  And maybe that conversation was, didn't you see what we just went through?
• 9:54
  Do you want to lose a home?
• 9:56
  And I think that era really was discouraging on homeownership for those older millennials.
• 10:02
  But I feel that younger millennial, those younger siblings might not remember that.
• 10:06
  And now these Gen Z buyers definitely don't even know what that was about.
• 10:10
  So the conversation is now turned.
• 10:12
  And I feel that the parents have seen a wealth building through equity, you know, since that crisis, we've, you know, housing appreciation has just taken off because of affordability and lack of inventory.
• 10:25
  So now they're saying, you know, to the younger generations, okay.
• 10:28
  I actually own two Gen Zers and one Alpha, and I've been having homeownership conversations with them since they were in junior high.
• 10:35
  And I constantly tell them, you have to prepare with financial literacy.
• 10:38
  You've got to go to college.
• 10:40
  You've got to save.
• 10:41
  You've got to get a job.
• 10:42
  And this is what homeownership strategies look like.
• 10:45
  And I have a ton of equity.
• 10:47
  Mom and dad, my husband and I are saying, we'd love to help you guys get into a home.
• 10:52
  But I feel that conversation is happening in other households.
• 10:56
  I think we've seen, you know, the positive of our industry and really great programs, you know, that are out there that are really trying to help consumers engage.
• 11:06
  And, you know, I know affordability right now is such a huge issue, but there's pockets of affordability.
• 11:12
  I used to be a national affordable lending manager at Freddie Mac, and it was my job to find those pockets of affordability and, you know, initiate homeownership initiatives there to help encourage these future buyers.
• 11:29
  Okay, so I've got some of the research data printed out here.
• 11:32
  We're going to go through some of this because I really want to put this in a context for the listeners or if you're watching this, how you can actually utilize this with your strategy when it comes to marketing, communication systems that you might need to put in place.
• 11:47
  So we kind of open it up with saying, you know, a conversation gap.
• 11:51
  And you've used the word confidence a number of times.
• 11:53
  So I think it's obvious, like one of the key takeaways is that most of these young people don't have a lot of confidence in their ability to buy.
• 12:01
  Is that correct?
• 12:02
  Right.
• 12:03
  Yeah.
• 12:03
  And it all goes back to their...
• 12:06
  kind of lack of financial literacy.
• 12:09
  You know, I speak at universities across the country on financial literacy.
• 12:15
  I'm an ambassador to Freddie Mac's award-winning financial curriculum.
• 12:18
  It's called Credit Smart.
• 12:20
  And teaching these classes, you know, I have to tell you, there's so much, you know, so much feedback or so many takeaways that I bring back to my team.
• 12:29
  And I'm like, oh,
• 12:29
  My gosh, they think they need 20% down.
• 12:32
  No, they don't.
• 12:33
  They think they need perfect credit.
• 12:34
  No, they don't.
• 12:35
  They think, you know, there's programs out there working against them.
• 12:39
  And that's the opposite.
• 12:40
  But also, they're really wanting the information.
• 12:46
  That's a positive because I feel for such a long time, maybe, you know, in these initiatives that I put together, a lot of these millennials were like, I'm not really interested where this survey was asking, do you have a resource?
• 13:00
  Do you have a, you know, mortgage payment calculator?
• 13:03
  They wanted, they were asking of the tools.
• 13:06
  And I love that because that, that means they're interested.
• 13:10
  Yeah, I love that.
• 13:11
  We're going to dig into sources of information for them.
• 13:16
  Let's hang out here for a minute on the down payment thing because you know this.
• 13:21
  I mean, the whole myth about what's needed for a down payment, hasn't that actually existed for decades?
• 13:27
  Yes.
• 13:28
  And how can we not, how have we, Jeff, how have we not changed the narrative all these years?
• 13:34
  You don't need 20% down.
• 13:37
  Right.
• 13:37
  You just, not as a first time home buyer.
• 13:40
  Well, I'm looking at the stats here.
• 13:41
  Let's just see here.
• 13:42
  Almost 40% don't know the minimum down payment required and almost 60% are unaware or misinformed about closing cost assistance.
• 13:53
  So for a loan officer who's listening to this right now, what do you say the opportunity is for them with that little piece of information?
• 14:00
  Dispel the myth.
• 14:02
  You guys are the experts.
• 14:03
  You know your programs.
• 14:04
  You know your guidelines.
• 14:06
  You know the right information on how to qualify a buyer.
• 14:11
  You know, sometimes when I'm on social media, Jeff, I'm seeing, you know, the content out there and I'm like, I wonder why.
• 14:17
  what they're saying to consumers.
• 14:19
  And it's almost like the opposite of what is needed.
• 14:22
  You know, go online, you know, turn on a camera like right now.
• 14:25
  And, you know, you don't need 20% down.
• 14:27
  I've got an amazing FHA, you know, zero down program, and it may even qualify you to cover closing costs.
• 14:35
  But the
• 14:36
  Take away, you know, the the how do I help you?
• 14:39
  Because I don't like to just throw things out there like that.
• 14:42
  I tell buyers, do you really want to know what's out there for you?
• 14:45
  And they're like, yes.
• 14:46
  Okay, great.
• 14:47
  Let's get you pre-qualified.
• 14:48
  Let me grab a loan officer, bring your documents to my financial literacy event, or let's set up an appointment and let's go over all the programs that you qualify for.
• 14:57
  But, you know, it truly is interesting how we have to really dispel the myth.
• 15:02
  Loan officers do that.
• 15:04
  Tell them, you know, what does assets look like?
• 15:07
  What does credit look like?
• 15:08
  You know, talk about the needs list.
• 15:10
  They don't even know what documents to bring to an appointment.
• 15:13
  Yeah, and I will say this for somebody listening right now who, if you've ever felt tired of talking about some of the elements that go into qualifying for home, like you don't need 20% down, PMI, things like that.
• 15:26
  I love this saying from a marketing leader that I follow, and he said, you're going to get tired of talking about your thing long before the audience will ever get tired of it.
• 15:38
  And so the point of that is when, if you're creating content and you're listening, you're going, oh my gosh, I have to create another video on, you know, you don't need to.
• 15:45
  Yes, you do.
• 15:46
  Resources, guides, a website, online, you know, all the things because your audience is consistently moving and evolving and a third are coming, a third are going, you know?
• 15:57
  So you, you know, remember, yeah, they are the resource.
• 16:01
  How about as a loan officer, you're the resource, you're also a tool, you're what's needed.
• 16:07
  Let's talk about resources.
• 16:08
  Let's talk about sources because you guys have been doing this now.
• 16:11
  It's the fourth wave, you say, of this study?
• 16:13
  Fourth wave.
• 16:14
  Yeah, and so the information and the data has evolved a little bit.
• 16:18
  But let's talk about short-form video.
• 16:19
  I'm looking at the stat here from the report.
• 16:21
  Short-form video use dropped from 50% in January to 28% in July.
• 16:26
  That's a pretty big drop.
• 16:27
  Okay.
• 16:31
  Well, before I'll just finish it out.
• 16:34
  While use of calculators nearly doubled from 12% in January to 24% in July.
• 16:41
  What is that really saying?
• 16:43
  You know, what's interesting is just immediate short form video, like immediate gratification wasn't enough.
• 16:50
  They were asking for calculation tools to maybe...
• 16:54
  pen out a payment, you know, and as we were asking certain questions, like what if we were able to match your rent payment to a mortgage payment?
• 17:05
  Would you like to see a video on that?
• 17:07
  Yes.
• 17:08
  And can it not be short?
• 17:09
  Can it be a longer video?
• 17:11
  What's interesting, Jeff, out of all the social media platforms, long form YouTube videos were the top selected feature to learn about
• 17:21
  about our industry.
• 17:22
  But if you go on YouTube, minimal long form videos are out there to talk about credit, assets, qualification, the mortgage process, or just any financial literacy.
• 17:35
  It's more people on probably, you know, just a short form video saying a two, like two to three minute video talking about credit.
• 17:43
  And that's not enough.
• 17:44
  They're asking for more.
• 17:47
  Yeah, another one here.
• 17:48
  Almost 60% of Gen Z respondents have never heard of PMI.
• 17:52
  Yeah.
• 17:53
  I mean, I'll be honest with you.
• 17:55
  If you think about all of our roles in the industry and you ask someone from Tidal, hey, give me a really great explanation on PMI.
• 18:03
  Sometimes they're like, let me grab the loan officer.
• 18:05
  And that's okay.
• 18:06
  You know,
• 18:07
  Think of this.
• 18:08
  I mean, this is sometimes a little more complicated than just the regular conversation you're going to have, you know, with, I mean, and think, let's take a step back.
• 18:19
  Acronyms.
• 18:20
  We are infamous in our industry for these acronyms.
• 18:23
  And this young buyer, or maybe the millennial buyer, don't even understand what does it stand for.
• 18:29
  A lot of times, Jeff, in my financial literacy classes, people say, Nora, what's the difference between homeowners insurance and private mortgage insurance and mortgage insurance?
• 18:38
  And I say, great question.
• 18:41
  And they say, nobody really tells me.
• 18:43
  And I'm thinking, no, this is such a basic answer.
• 18:47
  And I get into it and I tell them, look, you're putting less money down.
• 18:51
  We've got to insure the loan.
• 18:53
  So you're paying for insurance on the loan.
• 18:56
  But also homeowners insurance is very important.
• 18:58
  And then we get into flood insurance and they're like,
• 19:01
  Do I need that?
• 19:02
  And I'm thinking, you know, it depends on the geography.
• 19:05
  And, you know, we have a lot of really great conversations and it's very open.
• 19:11
  And I think that's what's needed, Jeff, is an open conversation without judgment for these buyers that are just going to ask basic information.
• 19:20
  Yeah, a safe place for them to communicate.
• 19:24
  Which is part of the study.
• 19:25
  They ask for a trusted advisor.
• 19:28
  Yeah.
• 19:28
  Yeah.
• 19:29
  Well, on that note, let's talk about AI because everybody's talking about AI.
• 19:32
  I love this.
• 19:34
  I love this stat right here, which is only 6% trust AI more than a person for mortgage advice.
• 19:40
  While the comfort with AI tools has risen from 18 to 25% to 34% with age.
• 19:47
  This is what's interesting.
• 19:49
  Gen Z uses AI to get ready for a conversation with a loan officer, not to replace it.
• 19:55
  And it's the oldest Gen Z respondents, not the youngest, who are most open to using AI.
• 20:02
  No, isn't that so interesting?
• 20:04
  Because we're assuming, oh, this new, amazing artificial intelligence that's just so much better than the human interaction, it's going to replace me.
• 20:14
  No, it's not.
• 20:15
  And in every wave.
• 20:17
  The response was, I cannot talk to AI on a 125-page doc set on a Sunday morning when I'm signing loan docs.
• 20:26
  And the notary says, so sorry, I can't explain this to you.
• 20:29
  They need that human loan officer that is that expert to answer the phone or to be at that appointment with them, holding their hand through the transaction.
• 20:39
  But Jeff, you and I know AI.
• 20:41
  Your information, your output on this AI is only as strong as the prompt.
• 20:46
  So if they don't know what to ask, what are they really, you know, asking within the AI tool?
• 20:54
  So are they saying like, hey, break down a 30 year amortization period when, you know, at what year am I, you know, really getting into principle versus interest?
• 21:04
  They're not asking those questions.
• 21:06
  They're just saying, hi, I have an appointment with a loan officer.
• 21:09
  Okay.
• 21:10
  What do I ask them?
• 21:11
  And it's so, so basic.
• 21:12
  So the AI output is basic.
• 21:15
  But if you're talking to the loan officer, who is that expert on that transaction, the questions are going to be very granular.
• 21:22
  And I love that.
• 21:23
  I love that about our industry is that we are...
• 21:26
  you know, that expert and we can say, listen, I know you want, you know, a jumbo transaction, you don't qualify for that now.
• 21:35
  However, you know, do this and that or, you know, let's fix your debt to income ratio.
• 21:40
  And maybe that's the price point you're going to get to.
• 21:43
  And, you know, if you're asking the AI tool, it's going to say you don't qualify, like, that's it.
• 21:48
  Don't, no more to not ask.
• 21:50
  Yeah.
• 21:51
  Right.
• 21:51
  It's limited information.
• 21:53
  The thing I've seen people, consumers potentially use AI for is, yeah, they're going to take the interest rate, the clothing costs, maybe they're going to upload their settlement statement or whatever.
• 22:07
  And is this fair?
• 22:09
  Is this a good price?
• 22:10
  Am I overpaying?
• 22:12
  They're going to ask all those questions.
• 22:13
  So here's the real key point for the
• 22:18
  In your talk track, build in now a question for these, you know, Gen Z millennial consumers.
• 22:29
  How have you, have you at all utilized AI in your search, right, for buying and financing a home?
• 22:38
  You should be asking that up front, do you think?
• 22:41
  Absolutely.
• 22:42
  Like, and, and maybe create a prompt for them to help them prepare for the meeting.
• 22:47
  And it just shows that you are confident in your role and you have integrated AI into your business profile.
• 22:56
  You know, and I, can I tell you, let me tell you, Jeff, and I think we said this as I was preparing, we were preparing for this podcast.
• 23:03
  But I said, Jeff, I'm a smart leader.
• 23:05
  I've hired all these young Gen Z.
• 23:08
  and millennial women, they tell me, Nora, this is the tech we need to use.
• 23:13
  We've got to pivot.
• 23:14
  We have to be all over AI to be able to close that conversational gap with our consumers, but also understand that buyer persona.
• 23:22
  And the more I lead this team that is so much younger than me, the more I understand what the buyer is looking for, because these young women, they're ready to buy a home.
• 23:32
  And they look at my marketing language and they're like, no, change that.
• 23:36
  That doesn't even help us.
• 23:37
  And I'm like, what?
• 23:39
  You know, and it's language you and I have used in the industry forever.
• 23:43
  And they're like, Nora, we don't even understand what that means.
• 23:45
  And I tell them, put your buyer hat on.
• 23:48
  So AI integration is so needed because it's just going to create efficiencies for us.
• 23:54
  But it's not going to replace that human interaction.
• 23:58
  Yeah, I love your idea, actually, of giving them a prompt.
• 24:00
  Like, I'm thinking about there's so many ideas here for loan officers listening to create a dedicated page, a destination page that is designed specifically for this audience in mind with the resources, the links, the prompts.
• 24:14
  And by the way, side benefit of that, if you do it right, that's actually going to help you get found in AI search as well.
• 24:20
  Hey, real quick before we jump back in, if you're still chasing real estate agents for referrals, if you're buying coffees, you're sending follow-up texts and hoping somebody sends you a deal, I want to show you a better way.
• 24:32
  What if instead of chasing agents one at a time, you could get 10 or 20 or even 30 agents into a room where you are the expert they're coming to learn from?
• 24:41
  That's exactly what I did to build a mortgage business producing over $50 million a year in personal volume.
• 24:47
  And I put together a five-day free email course that walks you through the entire system.
• 24:53
  It's called the Agent Class Method.
• 24:55
  I'll show you what to teach agents so they actually want to attend, how to fill the room, and the follow-up strategy that turns these conversations into referral relationships.
• 25:04
  And this isn't about like hosting some boring mortgage presentation or buying everybody lunch.
• 25:09
  It's about becoming the resource agents seek out.
• 25:12
  You can go to myagentclasses.com forward slash email course or check the description below.
• 25:17
  It's completely free.
• 25:19
  Five days, five actionable lessons you can start using right away.
• 25:22
  That's myagentclasses.com forward slash email course.
• 25:26
  Stop chasing agents, start attracting them.
• 25:29
  Let's get back into the show.
• 25:30
  Yes, I agree with that.
• 25:32
  You know, Jeff, sometimes people used to say in that millennial era, this buyer, they're the Google era.
• 25:39
  You know, they don't need us.
• 25:40
  And we found later, you know, 10 years later, after those older millennials started purchasing homes, they do need us.
• 25:47
  We were very much a part of that transaction.
• 25:50
  We were closing loans for them.
• 25:53
  And we were very much the communicator in that.
• 25:56
  And we were the educators.
• 25:57
  This era, this Gen Z era, they're not the AI era that you think.
• 26:02
  They're going to utilize AI, but they still need you.
• 26:05
  They're still going to need a realtor to show them that amazing property and tell them all about the geography and then negotiate the contract for them, which we know they just went through a huge change in the way that they do business.
• 26:18
  But listen, as the loan officer, we are the experts on the financing.
• 26:22
  You know, no matter what comes into place with technology, it's not going to replace that conversation.
• 26:29
  It's not going to replace the fact that we are going to help them hold their hand.
• 26:33
  They can call us.
• 26:34
  They can text us.
• 26:35
  So build yourself as that valuable partner.
• 26:38
  Hey, I know you're going to use AI.
• 26:40
  Here's a resource.
• 26:41
  This is what I would use if I was shopping for a home.
• 26:44
  These are really great prompts that are going to help you explain my documents.
• 26:47
  And Jeff, I've already done that on my team.
• 26:50
  We already have a document that we hand out, a QR code, and our buyers scan it at every single one of our financial literacy events.
• 26:57
  And we say, you're going to have so many questions.
• 27:00
  These are some of the prompts that can help you and they're tailored properly.
• 27:04
  to a first-time home buyer.
• 27:06
  What do you think, I've seen a number of very successful loan officers start to incorporate Zoom on their intake conversations with the younger community.
• 27:17
  What do you think about that?
• 27:18
  I love that because it builds that bond.
• 27:21
  You know, you get to see me.
• 27:22
  I get to see you.
• 27:24
  You may not want to come into my office.
• 27:25
  Like that's going to take up a lot of time.
• 27:27
  And there's traffic, there's kids, there's whatever.
• 27:30
  They're busy.
• 27:31
  I love, love.
• 27:32
  And I think that's something that this generation is going to really appreciate.
• 27:37
  You're going to take the time to see me.
• 27:39
  You see me, I'm being seen, I'm being heard.
• 27:41
  I'm a first time home buyer.
• 27:42
  I'm very nervous.
• 27:44
  Just talking to you over the phone or over a message chat is not enough.
• 27:48
  They're going to want to see and build that connection.
• 27:51
  I think our industry has done such a great job of at least building that big connection.
• 27:57
  Let's close the conversation, though.
• 27:59
  We've got this seasoned conversation.
• 28:02
  originators, seasoned realtors, we've got this younger era of buyers.
• 28:07
  Their buyer persona is totally different.
• 28:09
  The income, the assets.
• 28:11
  Jeff, remember they're gig workers now, you know, they're earning income totally different from what we're used to.
• 28:18
  It would be like, you're either self-employed or you're nine to five.
• 28:22
  Now it's like a really good, healthy mix.
• 28:26
  And we have to remember, too, another point in the study here is talking about friends and family are trusted by 75% of Gen Z.
• 28:33
  Heads up, people, loan officers are only trusted by 19% of Gen Z. Oh, my God, that broke my heart.
• 28:39
  No, Jeff.
• 28:41
  Can I tell you?
• 28:42
  Okay, so let's talk real numbers.
• 28:46
  Mom and dad haven't bought a home, according to all the data sources out there.
• 28:51
  Mom and dad have not bought a home due to lack of inventory in the last 10 to 15 years.
• 28:56
  They do not know the latest and greatest programs.
• 28:59
  They don't understand down payment assistance programs, how they're structured.
• 29:03
  They don't understand every non-QM product out there, bank statement, DCR, you know, all these programs that are out recently.
• 29:14
  that grandma and grandpa haven't bought a home in the last 15 to 20 years.
• 29:18
  They can't even downsize because there's no inventory.
• 29:21
  And they are the ones that our future buyers go to when they're ready to say, I think I'm ready to buy a home.
• 29:26
  And mom and dad are like paranoid.
• 29:28
  Don't get scammed.
• 29:29
  That was one of the actual sentences.
• 29:33
  We wrote a free form and we said, hey, is there anything that describes your anxiety, your excitement?
• 29:40
  Give us a sentence.
• 29:41
  And someone said, interest rates are criminal right now.
• 29:45
  And at the time, interest rates were 6%.
• 29:48
  And another, I know, I loved it.
• 29:50
  And another person said, please don't scam me.
• 29:54
  And we were like, wow.
• 29:56
  You know, and we studied, you know, these things.
• 30:00
  these responses.
• 30:01
  And we're like, wow, they're really scared.
• 30:04
  They're hesitant because they're just so scared.
• 30:08
  And think of this, Jeff.
• 30:09
  I'm in Los Angeles.
• 30:11
  Average sales price is $1,290,000 for a first-time home buyer.
• 30:15
  I think of the Midwest.
• 30:16
  It's increased so much recently.
• 30:19
  And it feels like, are they going to make the wrong decision?
• 30:23
  But I think of additional resources for
• 30:28
  HUD counselors.
• 30:29
  I'm the biggest champion of becoming mortgage ready through a HUD counselor.
• 30:34
  That's what they're there for.
• 30:35
  If that loan officer has a strong partnership with HUD counselors, the buyer just feels so informed and they're just so excited for the homeownership journey.
• 30:45
  And the conversation becomes very positive versus
• 30:48
  Don't scam me.
• 30:49
  I'm so scared.
• 30:50
  I'm so hesitant.
• 30:52
  You know, or what is that interest rate?
• 30:54
  You know, and they're just clinging on to that conversation of the interest rate.
• 30:58
  Listen, the interest rate today is what it is.
• 31:01
  We have to get over that.
• 31:02
  Can we compare your payment?
• 31:04
  to your rent?
• 31:05
  What if it increases by $300, but you're not doing DoorDash and you're not, you know, don't have 16 subscriptions to TV networks, you know?
• 31:16
  And I think when I put it that way in financial literacy events, it's funny, Jeff, because the faces start to change and they're like, yeah, I could do that.
• 31:25
  You know?
• 31:26
  And it's like, it starts making sense.
• 31:28
  but it's closing that conversational gap to this is what you can do to become mortgage ready.
• 31:35
  Yeah, I love that.
• 31:36
  It's closing the conversational gap.
• 31:38
  We keep stressing that because that's what I want you guys to think of.
• 31:41
  All right.
• 31:42
  Well, as we begin to come to a close here, and once again, the link to this report is in the show notes.
• 31:48
  You're going to want to dig deeper on this.
• 31:49
  We're just obviously sharing some of the key highlights, but there's so much good data here.
• 31:53
  You have six buyer personas that we can kind of go through at whatever pace you want.
• 32:01
  But I think this will help also put people, it'll help them visualize, right?
• 32:06
  If you're trying to visualize your avatar, right, your client profile, they're going to fall into these six buckets briefly.
• 32:14
  So I'll tee it up.
• 32:16
  And you give me whatever defining stat or thing you want to say about them.
• 32:20
  How's that?
• 32:21
  All right.
• 32:22
  All right.
• 32:23
  So, so number one, the reluctant renter, who are they?
• 32:27
  So those are, uh, future buyers that are like, gosh, I love renting.
• 32:32
  Renting has been so great for me.
• 32:34
  And then we asked them, Hey, what,
• 32:37
  what does tax write-off look like for you every end of the year?
• 32:40
  And they're like, what tax write-off?
• 32:42
  Yeah, we know.
• 32:42
  But if you purchase a home, you get a tax write-off and you start building generational wealth.
• 32:48
  And then they're like, uh-oh, tell me more about homeownership.
• 32:52
  But they've loved renting for such a long time because it's a safe space.
• 32:56
  And Jeff, it's easy to be a renter because you don't have to worry about the stress of having someone maybe decline you for a loan.
• 33:05
  And that becomes stressful to them.
• 33:07
  Yeah.
• 33:08
  Yeah.
• 33:09
  All right.
• 33:09
  So that's awesome.
• 33:09
  That goes back to education and building confidence and things like that because they've kind of settled into renting.
• 33:15
  All right.
• 33:17
  Next one.
• 33:17
  The anxious high earner.
• 33:19
  Yeah, they're scared to make a decision.
• 33:21
  Oh, my gosh, I went and got this amazing degree.
• 33:25
  I finally got the job of my dreams or I'm earning so much money, a lot of money.
• 33:29
  And they're young and they're like, hey, what do I do?
• 33:33
  I can't make the wrong decision.
• 33:35
  Do I rent or do I own?
• 33:38
  And that is that anxious, high wage earner.
• 33:42
  Financial literacy helps them.
• 33:44
  And the key with that is slow down, right?
• 33:47
  Reassure them.
• 33:49
  And once again, the word guide, right?
• 33:52
  We've got to become the guide now, right?
• 33:54
  Think of like that visual in your head, the Sherpa, right?
• 33:57
  We're on this journey and the Sherpa has been there before and in our job, right?
• 34:02
  The clients, the hero, we're just the guide.
• 34:04
  Yep.
• 34:05
  I love that.
• 34:06
  Yeah.
• 34:06
  Okay.
• 34:07
  So how about the practice run buyer?
• 34:09
  What is that?
• 34:10
  So they've meddled a little bit into wanting to know about homeownership and then they hear something that may scare them and they go right back to, no, no, I can't buy a home.
• 34:20
  I'm so scared.
• 34:21
  But hold on.
• 34:22
  Let me maybe make an appointment with this loan officer.
• 34:25
  Let me ask a couple of questions and then I'm going to go hide.
• 34:28
  I'm going to ghost him for a little bit.
• 34:31
  I love the suggestion in here.
• 34:33
  Their biggest need, private self-serve tools to get early answers before talking to a loan officer.
• 34:38
  That goes back to what we talked about, the AI prompt, the calculator, the digital prequal, the self-help thing.
• 34:44
  Get them into your world, right?
• 34:46
  And engaging with you, you're going to build trust that way, no pressure.
• 34:50
  But I love this, a no-pressure prequal tool or a checklist up front.
• 34:55
  Very smart.
• 34:56
  Yeah.
• 34:57
  We also have budget worksheets, Jeff.
• 35:00
  Those are all super helpful and it gets them very excited.
• 35:03
  They can fill them out themselves.
• 35:05
  They can self-track where am I spending the most money.
• 35:10
  Yeah, interesting.
• 35:11
  And they're also comfortable using some of these tools online, such as AI tools and other things, just to do the preliminary work.
• 35:18
  All right, the Steady Saver.
• 35:21
  Ooh, we know who that is.
• 35:22
  Who is the Steady Saver?
• 35:24
  Yeah.
• 35:25
  soon as they graduated, they opened up a 401k.
• 35:28
  They've been monitoring that savings account that they think is going to give them a high yield interest, which it's not, but they don't know that.
• 35:38
  But all they keep talking about is, you know what?
• 35:41
  I'm going to keep saving.
• 35:42
  It's not time for me to buy.
• 35:44
  Let me keep saving.
• 35:46
  And what I say is the more you save, the more you're going to wait and be priced out of the market.
• 35:53
  And this is not an opinion.
• 35:55
  It really is a statistic.
• 35:56
  Look at these interest rates, Jeff.
• 35:58
  Buyers who qualified last year that didn't buy last year, this interest rate may have priced them out.
• 36:04
  You know, this AVER is just focused on the money.
• 36:07
  You know, I'm going to have $60,000 or $70,000.
• 36:11
  But remember, there's all these programs that are low and affordable, and maybe we can layer them with down payment and closing cost assistance.
• 36:20
  They may be able to save that money and keep that money in an account.
• 36:23
  making high yield interest.
• 36:26
  And that's right.
• 36:28
  Odds are they're probably in the group who think you need 20% down.
• 36:31
  Yes, they probably are because they're saving and saving and saving and they don't come out of saving mode.
• 36:37
  Yeah.
• 36:37
  And of course there's the other programs that you talked about DPA.
• 36:40
  We've got seller concessions.
• 36:41
  Now that we can leverage all comes back to education content and educates them.
• 36:46
  Um,
• 36:47
  Oh, and this one, we can, we know, I'm trying to get visuals in my head of what we should come up with a visual of what did this person look like, right?
• 36:53
  Like a cartoon visual.
• 36:54
  Yeah.
• 36:55
  So we have the uninformed first timer sounds a little bit sassy and like they know what they're talking about, but who are they?
• 37:01
  So let me give you an example of that person.
• 37:04
  I was in Columbia, South Carolina, and a gentleman, I could see I had promoted to bring their documents for this first time homebuyer, big, large event.
• 37:14
  I think we had over two, almost 200 attendees.
• 37:17
  We had the entire housing ecosystem in the room.
• 37:20
  And the gentleman walked up to me with his wife and his wife's like pushing him, like talk to her.
• 37:24
  And so he tells me,
• 37:27
  I don't know if I want to get pre-qualified.
• 37:29
  And we were like, okay, no problem.
• 37:31
  And then he's like, I don't know.
• 37:34
  Like why?
• 37:35
  And then we were like, oh, okay, well tell me your story.
• 37:39
  So just sassy.
• 37:41
  Oh, so sassy.
• 37:42
  And he's like, oh,
• 37:43
  I don't know where interest rates.
• 37:45
  And I said, no, what's your credit look like?
• 37:47
  And then he was like, Oh, you know, we're going to go there.
• 37:50
  Um, long story short, Jeff, he had all the documents to qualify.
• 37:55
  He was terrified.
• 37:57
  He wouldn't even answer questions.
• 37:59
  We just said,
• 38:00
  Are you ready to go?
• 38:02
  Can I introduce you to a loan officer?
• 38:04
  Oh, and the wife was like pushing him from behind physically like this really did happen.
• 38:10
  And so she was like, go get prequalified.
• 38:12
  We need a home.
• 38:13
  So he said, where are prices?
• 38:15
  And I gave him like an estimate like, hey, we're Columbia, South Carolina, you know, two ninety.
• 38:20
  $290,000.
• 38:21
  And he's like, oh, like terrified.
• 38:24
  And then the wife pushed him and she pushed him.
• 38:27
  And I kept following them until he sat in the chair of a loan officer because the wife pushed him there.
• 38:33
  She sat down.
• 38:34
  She grabbed the bag.
• 38:35
  She started handing out documents.
• 38:37
  And I told my team, that is such a great analogy for that.
• 38:41
  terrified buyer.
• 38:42
  They're just so, so scared.
• 38:44
  Oh my gosh, everything, every question is almost like a negative to them.
• 38:48
  It's like a, you know, like a gunshot went off and they're taking the bullet on answering that question.
• 38:53
  But the more informed they become, Jeff, the more they relax.
• 38:58
  You've seen that.
• 39:00
  Guess what?
• 39:00
  That buyer got qualified that day.
• 39:02
  He qualified for a mortgage.
• 39:04
  He sure did.
• 39:05
  Wow.
• 39:06
  That goes back to, again, confidence, the overarching theme.
• 39:09
  We've got to create more confidence in their belief about their ability.
• 39:14
  That's what we're working against is belief in perceptions.
• 39:16
  And let's just face it, they're getting a lot of their cues from the news.
• 39:20
  Or as you said earlier, friends and family who are outdated information.
• 39:24
  So we need to be, think of the lighthouse.
• 39:27
  I like that metaphor.
• 39:28
  We need to be the lighthouse, right, of knowledge, information, and confidence.
• 39:33
  Yeah.
• 39:34
  And imagine if you have a pre-qualified buyer that trusts you and you can hand that referral to an agent now.
• 39:39
  It's the opposite.
• 39:40
  You know, agents have been handing us referrals for such a long time.
• 39:44
  Jeff, understanding these buyer personas means that loan officer is self-aware.
• 39:48
  They've got emotional intelligence on this buyer persona.
• 39:51
  They're looking and they know, oh, you must be a Gen Z or you must be a millennial.
• 39:57
  And they're telling them, hey, don't be nervous.
• 39:59
  Here's my resources.
• 40:01
  Here's my information.
• 40:02
  You know, I can check in with you if you're okay with that.
• 40:06
  Yeah, the other thing I think would be a cool idea is, you know, I think about past client database, and for your listeners, you've got various levels of information on your past clients in terms of children or whatnot.
• 40:18
  But it would be interesting to send out an email, right, to your past client database if you don't know, if you don't have the information, although you should on a 1003, right, just look back and see...
• 40:28
  what are the ages of the kids now?
• 40:31
  And with AI now, you should be able to scrub your database and find who here that I've closed a deal with has kids that are in this age bracket and offer the free consultation for this age group.
• 40:44
  I love that, Jeff.
• 40:46
  Absolutely, I'm gonna use that.
• 40:47
  I like that.
• 40:49
  Yeah, why not?
• 40:50
  Makes more.
• 40:50
  Makes a lot of sense.
• 40:51
  And by the way, you'll get a lot of practice doing it with an audience that you're comfortable with.
• 40:56
  And assuming they remember you, you've stayed in touch, I hope.
• 41:00
  Right.
• 41:01
  You'll have an easy yes on a number of these appointments.
• 41:04
  It almost feels like a warm.
• 41:05
  I know you and I are just we're giving them more nuggets per minute here, Nora, than I don't know what to do.
• 41:11
  You know, yeah.
• 41:13
  Thank goodness we're recording.
• 41:15
  Right.
• 41:16
  Exactly.
• 41:16
  All right.
• 41:17
  Let's close out.
• 41:18
  Last but not least, the overlooked group.
• 41:21
  Aw, sad face.
• 41:22
  I know.
• 41:23
  Yeah.
• 41:24
  I know.
• 41:25
  You know, and Jeff, think of this, that overlooked group, when you talk to them, they're saying things like grandma and grandpa were renters, mom and dad are renters.
• 41:36
  I've never even had a conversation on homeownership.
• 41:38
  Like they almost seem shocked
• 41:41
  that you're asking them, do you own a home?
• 41:43
  Are you interested?
• 41:44
  You know, has that ever entered your mind?
• 41:46
  And they're like, wow, never thought about it.
• 41:49
  You know, never, never thought about it.
• 41:52
  Like, I don't even know what homeownership entails or I've never had that conversation.
• 41:57
  And what's interesting is that group,
• 42:01
  Most of them are just what's called historical renters.
• 42:05
  And once you get them prepared for homeownership, those are the ones that may pull the trigger quicker than the hesitant buyer, the scared buyer, the ones that are suffering from just like the scared buyer.
• 42:19
  you know, anxiety is just like holding them back constantly.
• 42:23
  And, you know, this overlooked buyer looks so different.
• 42:25
  It can be buyers with no FICO scores, buyers with just like mom and dad never used credit cards.
• 42:32
  I don't know how to use credit.
• 42:34
  It can be buyers, you know, with employment information, you know, that is just gaps in employment, you know, and that's their issue.
• 42:43
  And they're just like, I don't think I'd ever qualify.
• 42:46
  You know, I'm in construction and jobs are, you know, every six months or whatever that looks like.
• 42:52
  But also, Jeff, some of those overlooked buyers, gig, gig income generators, they say, oh, stable income.
• 43:01
  Are you kidding?
• 43:01
  That's right.
• 43:02
  That is stable income.
• 43:03
  You're a gig worker.
• 43:05
  You know, you work five, six jobs and you have for the last two years, Nora, for the last five years.
• 43:10
  And I'm like, why did you think you don't qualify?
• 43:13
  And they're like, well, historically, banks tell me no.
• 43:15
  Well, maybe the banks don't carry those programs.
• 43:18
  But a lot of these IMBs have these non-QM loans and they're perfect for you.
• 43:22
  Bank statement loans might be your gig.
• 43:24
  You know, that's how we get you qualified.
• 43:26
  So that buyer looks so, so different.
• 43:31
  Interesting.
• 43:31
  Yeah.
• 43:32
  And in the notes here, it talks about outreach through community organizations.
• 43:36
  You mentioned HUD counselors before.
• 43:38
  What, uh, it just makes me curious, how would a loan officer listening right now involve, right?
• 43:45
  Engage with a HUD counselor.
• 43:47
  Like how would that benefit them?
• 43:48
  What would that look like at, you know, in the real world?
• 43:50
  I love that.
• 43:51
  Did you know HUD counselors can be the best referral partners you have out there?
• 43:56
  You can actually go to Google, type in your city and type in local HUD counseling agencies.
• 44:02
  Reach out to them.
• 44:03
  Let them know.
• 44:04
  I'm a loan officer.
• 44:05
  I'm going to encounter buyers that are not mortgage ready.
• 44:08
  Can you help my buyers become mortgage ready?
• 44:10
  They're going to say yes, absolutely.
• 44:13
  And what that looks like, Jeff, is the HUD counselor is actually certified to help buyers become mortgage ready.
• 44:19
  They work with the buyer.
• 44:20
  They pull the credit.
• 44:21
  They look at their scenario.
• 44:23
  They talk them and coach them through maybe that scared, terrified buyer.
• 44:28
  I would definitely refer them over to HUD counselors.
• 44:31
  And it's that one-on-one, very long conversation on how to become mortgage ready.
• 44:39
  And they host classes on credit.
• 44:41
  They host classes on becoming mortgage ready.
• 44:43
  They go through the credit wheel.
• 44:45
  It may be that longer nurtured buyer that is on that cusp of becoming mortgage ready.
• 44:51
  But as loan officers, this can be a really fantastic partner for you.
• 44:56
  They don't compete with you.
• 44:57
  They're not NMLS licensed.
• 44:59
  They're not going to originate a transaction.
• 45:01
  They're just certified to help buyers become mortgage ready.
• 45:04
  And they report through HUD.
• 45:06
  Interesting.
• 45:08
  Wow.
• 45:08
  Lots of resources out there.
• 45:10
  All right, so to put a cap on this and land the plane, as they say, this has been highly informative.
• 45:15
  Once again, check the link in the show notes for access to this data.
• 45:19
  And take at least just one or two ideas you've heard from here today and how are you going to create content, tools, resources that's going to be helpful in overcoming the biggest gap, which is trust and belief that they have about their...
• 45:35
  But what do you want to end on in terms of what's your forecast for the future buyer of the next, I don't know what, three, five years, seven years, however far you want to run it out?
• 45:49
  is ever evolving.
• 45:50
  As industry professionals, we have to be forever students of our industry.
• 45:55
  We have to pivot as quickly as the buyer persona is pivoting so that we can close that conversation with our future consumers.
• 46:03
  And it doesn't matter what the age gap looks like.
• 46:06
  You can be that valuable partner.
• 46:08
  So let me tell you,
• 46:10
  Study that buyer persona.
• 46:12
  Look at our study.
• 46:13
  It's for everyone.
• 46:14
  It's in partnership with YouGov.
• 46:16
  We put it out there so that our entire industry can utilize it and better understand the buyer.
• 46:21
  And the sooner we prepare them, the more informed they're going to be to make a decision to be able to pull the trigger and become homeowners.
• 46:30
  Wow.
• 46:31
  This has been very informative.
• 46:33
  Thank you so much.
• 46:33
  You guys have obviously put a lot of time and effort on this.
• 46:35
  And what I love about this is it wasn't a one and done study.
• 46:39
  You actually can, it's a continuum, all right, over time.
• 46:43
  This is the fourth version.
• 46:44
  Are you guys going to keep doing iterations of it?
• 46:46
  We are.
• 46:47
  We've already talked.
• 46:48
  It's so much information and we've really extracted great strategies out of it.
• 46:53
  We're going to continue into 2027 and we want to see where
• 46:59
  Cool.
• 46:59
  Well, we'll have to have you come back when the new set of data rolls out.
• 47:02
  You got it.
• 47:02
  Absolutely, Jeff.
• 47:03
  Thank you.
• 47:04
  For those who want to connect with you personally, Nora, what would you suggest?
• 47:07
  I'll put a link in there.
• 47:08
  Is it LinkedIn or where would you like to send them?
• 47:10
  Yes, I would love to send them to.
• 47:12
  We have a really great LinkedIn channel for me, Instagram, and you'll have all the links.
• 47:17
  Awesome.
• 47:17
  Fantastic.
• 47:18
  Well, listeners, you know what to do.
• 47:19
  Get your hands on the study, download it, review it, and then pick one or two action items you're going to implement in your business ASAP.
• 47:26
  Nora, thank you so much for being here.
• 47:28
  Thank you, Jeff.
• 47:29
  We'll see you on the next one.
• 47:30
  Bye for now.
• 47:30
  Before you go, let me leave you with something to think about.
• 47:33
  You already know that chasing real estate agents for referrals doesn't scale.
• 47:38
  One coffee, one agent, one hour.
• 47:41
  Then you do it all over again tomorrow, hoping that the agent actually sends you some business.
• 47:46
  But what if you could flip that entire process?
• 47:49
  Instead of meeting agents one at a time for coffee, imagine getting 20 agents into a room where you are the expert teaching something that helps grow their business, like today's topic.
• 48:00
  And instead of you chasing them for referrals, they start calling you.
• 48:03
  That's exactly why I teach loan officers how to grow their referral relationships using agent classes.
• 48:09
  And here's what can happen.
• 48:11
  Glenda White shared with me that she recently closed $2 million in a single month just from agents who attended her classes.
• 48:19
  Think about that.
• 48:20
  Those weren't agents she had to chase down.
• 48:22
  There were agents who showed up to learn from her, came because they wanted to be there.
• 48:27
  That's the difference between chasing relationships and attracting them.
• 48:30
  And if you'd like to learn how to do this yourself, I've created a five-day email course called The Agent Class Method.
• 48:36
  Okay.
• 48:36
  I'll show you what to teach, how to get agents to attend.
• 48:39
  I'll show you how to turn those classes into referral relationships.
• 48:42
  Go to myagentclasses.com forward slash email course.
• 48:46
  Check the link below in the description.
• 48:48
  Stop chasing agents and start attracting them.
• 48:51
  Thanks for listening.
• 48:52
  I'll see you on the next episode.