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Mastermind Summit Key Takeaways · Mortgage Marketing Radio

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Hey, what's up, Jefferson, for your humble host of this episode of the Mortgage Marketing
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Radio Podcast.
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Thank you for tuning in.
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Appreciate you being here.
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Hey, by the way, did you know we have a private Facebook group just for you, the listener.
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You can go over to Facebook, type in the search mortgage marketing radio and you'll come
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to our private group just for podcast listeners where you have more good content or conversations
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going on over there.
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So go check that out.
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I've got a question for you.
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It's coming up here on midway through the year.
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How you doing?
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Where you at?
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Are you on track to reach your goals?
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We're going to talk more about how to close out 2024 strong and what are the strategies
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and tactics that I've seen from the top producers around the country.
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I'm going to be implementing more on that in just a moment.
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But before we get there, I got to share with you another win of the week from our members
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at my agent classes.
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This is where we help you.
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The mortgage originator go from solicitor and vendor to partner and peer by attracting
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instead of chasing real estate agents and building a platform that helps you get attention,
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get engagement, conversations and contracts.
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Win of the week coming from one of our longtime members, Kevin, what is up, Kevin?
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If you're listening to Kevin, I've been with us I think four plus years easily.
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And Kevin has recently hosted a class which he shared that 36 agents showed up for his
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class.
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And he was showing them one video idea that generated 11 million in listings in 90 days and
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sold 9 million.
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And that was an idea we borrowed from a real estate agent who shared it with us and we took
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that and put it together in a class, a very easily executable short form class that's
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easy to execute.
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And so therefore, Kevin shared that with his agents in a Zoom and had 36 agents show
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up for that Zoom.
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And what happens after that?
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Well, hey, you know what happens after that?
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You have conversations.
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And as you know, conversations leads to contracts.
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So my question for you is how are you getting in front of 36 agents?
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How long would it take you?
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How are you getting in front of 36 agents for 30 minutes, 40 minutes of dedicated time
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that's focusing on you adding value and helping them get more listings in today's market?
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Do you think you might earn some relationships from that?
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Some referrals?
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Well, I can tell you Kevin does so do many, many other people.
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You want to learn more?
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Go look at more success stories over at mortgagemarketing.pro.
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Okay.
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So this week I'm going to bring to you a brief recap of my attendance at the recent mastermind
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summit, the mortgage mastermind summit in Vegas, where I had the privilege and honor of
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being on the main stage as a guest speaker.
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What was my topic?
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My topic was how to double your realtor referrals in 90 days, hint hint.
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It's leading with classes in education.
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You've heard me talk about that long enough.
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I just shared with you the link to go check it out and learn more.
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By the way, case you haven't heard in top producers do classes in my presentation on stage.
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I shared examples from two of the top originators in the country who each do a thousand plus
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loans a year doing events and classes, getting in front of agents at scale.
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So on the stage the day before my session or actually the day after my session, I think
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it was I can't remember it was three two and a half days.
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Anyway, the point being is shot by Nozion, one of the top originators in the country out
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of the Boston mass area got up there and shared everything he does in his business.
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He called it separation season, separation season.
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This is the time to go grab market share and to step it up, not to roll it back, but
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to step it up because the tide will come back in, right?
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And you want to be ready to surf the tide, not get crushed by the waves, but be on your
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surfboard.
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And what's your surfboard activities?
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You getting out there in front of the right people, past clients, referral partners, all
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that other stuff.
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You know guys, it's the fundamentals.
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It's be brilliant in the basics.
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If there was any takeaway I heard from everybody at the mastermind summit, yes, leverage tech,
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yes, show up and be present consistently on social media, but most importantly, execute
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the fundamentals, be brilliant in the basics.
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This is a connection business, shout out to Tim Brahim.
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This is a connection business, particularly with referral partners, right?
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And so how are you creating connection and engagement?
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Are you transactional or are you relationship based?
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So this is the first place to start is evaluate your approach to business.
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Do you see realtors as a necessary evil, right?
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Or are they a key pillar of your business?
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And if you're working with realtors that suck, that drain you, that are toxic, that's on
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you.
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Now, maybe you're at a point in your business where you can't fire them yet and you
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need to put up with their crap because they're going to send you a deal or whatever.
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Okay, fine.
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I understand that.
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But at the point, you're going to make a transition in pivot to being more selective with
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whom you work with.
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But more importantly, let me ask you a question.
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I asked the audience from the main stage of the mastermind summit, I asked, hey, how many
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of you here need more realtors on your bus?
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All the hands went up.
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How many of you here need better quality realtors on your bus?
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All the hands went up.
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Answer, you need both, right?
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And if we carry that conversation a little bit deeper, you want more quality agents.
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That means you've got to go deep versus wide.
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But most of you, because of the market situation, because of what's going on with agents coming
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in and out of the business, because of the contraction in the market, lack of inventory,
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and opportunities are down.
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Most people right now, the immediate fix is you need more realtors on your bus for referral
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partners.
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You can go in, going narrow, going quality, right?
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You've got to go wide before you can go deep.
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And going deep is a process that you can't just exclusively go there else.
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You'll never pick up some of the low-hanging fruit, immediate, easy business that's available
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to you by going wide, right?
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So my suggestion to you is, when you're talking about approaching and targeting real estate
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agents is that you go wide so that you can go deep, does that make sense?
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Like the name of the game, whoever has more conversations wins, right?
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So the question is, how many conversations are you having per week?
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And I would argue that it's not enough.
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And so the question then becomes, what's your strategy for getting there?
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How do you get that engagement?
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How do you get those conversations?
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So at the masterminds shunmit, Sean's on stage, he asks himself a question every single
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day.
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What is your number one job?
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Let me ask this for you.
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What is your number one job as a mortgage originator?
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What is it?
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I'll give you a moment to think.
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Answer, generate business every day.
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Generate business.
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Now, you've heard this concept called reverse engineering.
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How do you generate business?
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You've got to work it back, which you've got to reverse engineer.
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What are the steps that it takes to get to generate business?
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Well, ultimately, at some point, you've got to have a conversation with somebody who either
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wants to borrow money from you or somebody who can refer you, introduce you, connect
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you to somebody who wants to borrow money from you, right, or to buy a house.
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So once again, it leads to conversations.
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Now, let's reverse engineer an additional step.
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We need to talk to people who want to borrow money to buy a house, right?
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How do we get those conversations?
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What are the mechanisms, steps, processes by what you're going to do that?
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You've got a variety of different things you can do.
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Show up online on social media, have conversations with the referral partners, contact your
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past client database, right?
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There's obviously a host of other things.
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If you're buying leads or whatever, okay, great.
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That's another potential direction to go.
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But it ultimately leads to you've got to engage and have conversations.
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And my question for you then, coming back to activities and be brilliant in the basics,
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is look at your, what Chompanozian calls, look at your accountability metrics.
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Have you reviewed your accountability metrics, your conversations, your calls, your face-to-face
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or Zoom meetings, your loan apps, right, your credit polls, your credit polls, loan apps
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to conversion, right, to rate locks, et cetera?
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Are you looking at the analytics, the KPIs that drive your business?
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Because you are a business owner, and if you were running a business, and I was a venture
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capitalist, right, I would want, and I was considering investing in your business, I would
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want to look at your analytics, right?
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Your conversations, your conversions, what do the numbers look like on that and where can
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it be improved?
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Once the last time you looked under the hood of the engine of your business and evaluated
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what's working well, what could be working better, what's completely unnecessary, by the
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way.
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See, most people do many things with side effects versus doing few things with great effect.
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It's not about doing more, right?
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It's about doing less, but doing more of the right things, does that make sense?
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Another thing that was talked about at the Mastermind Summit, which I absolutely love, is
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control the controllables.
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See, a lot of people get bogged down in this attention around inflation and interest rates
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and inventory and the economy and the NAR settlement and all the other noise, right?
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And what Shant said up on stage was that he doesn't focus on any of that.
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He may stay aware, right, and what's going on, but he doesn't go down the rabbit hole
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and get all wrapped around like what's going to happen with interest rates and what's
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going to happen with inflation and what is Powell going to do and all that stuff?
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Why?
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Because he can't control it.
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And what he does is he's just relentlessly focused on the things that he can control
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in his business.
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So let me give you some of the analytics, the accountability metrics in terms of getting
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back to the basics and the fundamentals.
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As I said, the question to ask yourself with the most important thing you need to do every
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day is generate business, right?
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Partner relationships.
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Staying in front of partners with value, out value your competition, okay?
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Lead management, communicating with them every day in multiple ways.
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So that's phone, text, video, handwritten thank you cards, right?
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All the different ways by which you can stay in front of these people.
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I got a question for you.
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How many prequels have you done in the past three months, six months that you've gone
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radio silent on?
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You've ghosted it.
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Not they've ghosted you, but you haven't reached back out to them.
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How many?
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That's part of the game, guys.
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That's called lead management, communicating, staying in front of these people, building
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a fence around them, right?
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So back to the basics, what is your accountability look around face-to-face meetings, presentations,
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entertaining events, entertaining events, texts and direct messages, social media, online
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reviews, managing your CRM, your database, time blocking, scripting, like score yourself
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in each, not each, score yourself in the top three categories of face-to-face meetings,
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conversations and presentations, because what I saw across the stage from Mastermind Summit
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consistently, from everybody up there, Shayla Gifford, from Tim Brahim, from virtually every
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originator that was on stage, talked about events, one to many, right?
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You scale your reach.
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And so score yourself there, right?
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Because it's about being in front of people consistently, okay?
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Now, some additional accountability metrics for you to look at, how many applications,
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how many leads, how many purchase locks, how many refilocks, right?
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Funded loans, funded volume, app to clear to close days.
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What's the gap there?
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How efficient is your process there?
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I know I'm overwhelming with you a lot.
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I'm giving you all the stuff so you can just pick the top three for you to look at your
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accountability metrics.
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How many emails sent, right?
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How many reviews, Google reviews, online reviews, did you receive?
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How many videos did you record?
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Social media posts, outbound calls, face-to-face meetings, high value partner meetings and team
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meetings.
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To sum it all up, let me say it this way, small, daily seemingly insignificant improvements
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when done consistently over time lead to stunning results.
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What is success?
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A few simple disciplines repeated every day.
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What is failure?
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A few errors in judgment.
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Also repeated every day.
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We're talking about process over outcome.
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When you fall in love with the process rather than the product, the output, the outcome
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up, right?
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That you're wanting, that the closed loan, whatever it is.
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When you fall in love with the process, you don't have to wait to give yourself permission
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to be happy.
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You can be satisfied any time your system is running.
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Let me say that again.
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When you fall in love with the process rather than the outcome, you don't have to wait
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to give yourself permission to feel happy or feel like you're making progress.
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You can be satisfied any time your, quote, system is running.
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What does that mean?
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It means if you're executing on your process repeatedly, some of the metrics that I just
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walked you through, the calls, the conversations, the meetings, the events, whatever, if you're
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executing on the process, there's a lag time between you executing the process and the
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results showing up.
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That's called a plateau sometimes.
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That's called no man's land.
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That's called, right?
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Sometimes we get frustrated and we feel like we're not making progress.
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My suggestion to you is to, right, don't measure how far you've yet to go, but measure
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how far you've come, the gap in the gain strategy.
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If you're not familiar with that book, the gap in the gain, right?
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Look at the consistency of the implementation of your process or also called a system.
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That's a concept from atomic habits.
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Because right now you might feel like your output isn't generating the return.
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I get it.
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It's a challenging market, right?
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Contrary buyers, et cetera, all the noise around that.
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Here's how you know you can bet on you.
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Look at your process.
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Look at the consistency of the implementation of your process.
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If you stay there, stay on that, it's simply a matter of time before the lagging results
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catch up with you implementing your process, executing your systems.
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Does that make sense?
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Cool.
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I would take a look at your system in process, your weekly execution of the fundamentals
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and the basics.
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I would grade yourself or score yourself in those areas and get clear on the fact that
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you can't do everything, but what can you do?
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Which are the top one to three activities that will move the needle and I would go all in
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on you.
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Go all in on you.
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Get rid of the waste, cut away what's irrelevant, not useful, including a monthly expenditure
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like one of those little tech tools and softwares and things like that that are death by a thousand
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cuts that aren't actually moving the needle for you that are just, quote, nice to have.
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Go all in on you.
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I'm going to leave it there.
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Hopefully you found this valuable, this quick tip of the week.
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One set is everything, your business growth is internal, not external.
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You will grow your business and direct proportion to your identity and going all in on you and
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executing the right activities.
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So if you found this podcast helpful and useful, I would appreciate a review.
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If you're someone climbed somewhere, you're listening to this on the app, there's a place
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to leave a review or you can just go Google, Morgan's Marketing Radio podcast, someplace
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and leave a review.
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That's that.
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And if you do want to move the needle on agent conversations, hey, you know what to do.
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You've heard me talk about it.
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The agent classes, go to Morgan's Marketing Pro, appreciate your tuning in.
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See you on the next one.
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Bye for now.