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Run Your Mortgage Business On Data · The Ground Game

• 0:03
  SPEAKER_00: Welcome to the ground game for mortgage professionals built for the fight.
• 0:10
  SPEAKER_00: Hosted by Brian Lovell and Mark Milo.
• 0:20
  SPEAKER_01: Did you put on glasses?
• 0:21
  SPEAKER_01: I did.
• 0:21
  SPEAKER_01: I put on some glasses.
• 0:22
  SPEAKER_01: My eyes, man.
• 0:24
  SPEAKER_01: My whole life.
• 0:25
  SPEAKER_01: So I mentioned I'm a was a pilot.
• 0:27
  SPEAKER_01: My whole life I've had 2010 vision.
• 0:29
  SPEAKER_01: And then something happened when I turned like 54.
• 0:32
  SPEAKER_01: All of a sudden, like everything just turned shitty.
• 0:36
  SPEAKER_02: Yeah.
• 0:36
  SPEAKER_02: So I yeah, my for me about four years ago, I see fine across the room.
• 0:41
  SPEAKER_02: It was the read.
• 0:42
  SPEAKER_02: Like I noticed it on my phone at first.
• 0:43
  SPEAKER_02: Yeah.
• 0:44
  SPEAKER_02: So I wear a reader contact.
• 0:47
  SPEAKER_01: Uh-oh.
• 0:47
  SPEAKER_01: Just in one eye.
• 0:48
  SPEAKER_02: And basically, this one is kind of a blank.
• 0:51
  SPEAKER_02: So good times.
• 0:53
  SPEAKER_02: All right.
• 0:53
  SPEAKER_02: So you want to kick it off, or you want to.
• 0:54
  SPEAKER_02: Yeah, I'm going to kick it off.
• 0:55
  SPEAKER_01: Okay.
• 0:55
  SPEAKER_01: All right.
• 0:56
  SPEAKER_01: So I'm going to flip the script a little bit and I'm going to ask you some questions because a bit of what you have done for me in the time that we've known each other is not anything I've necessarily had before in my career.
• 1:08
  SPEAKER_01: And I think it's vital for originators, particularly in this market, right?
• 1:12
  SPEAKER_01: In the market that we find ourselves.
• 1:14
  SPEAKER_01: When you're an originator and you get such an endorphin rush out of being busy and helping people.
• 1:21
  SPEAKER_01: And you know, yeah, and there's an ego piece to it too.
• 1:24
  SPEAKER_01: Let's just be honest about that, right?
• 1:26
  SPEAKER_01: Hey, I've I've locked three this week so far.
• 1:29
  SPEAKER_01: I'm feeling great about myself, you know.
• 1:31
  SPEAKER_01: And then you have three fallout, or you have four fallout.
• 1:34
  SPEAKER_01: Next thing you know, you're you're on the wrong side of the curve.
• 1:36
  SPEAKER_01: Yes.
• 1:37
  SPEAKER_01: You can get all up in your head about it.
• 1:38
  SPEAKER_01: Yes, you can.
• 1:39
  SPEAKER_01: And especially if it's if it lasts for longer than a few days.
• 1:43
  SPEAKER_01: So now you're into a couple of weeks and you're accustomed to being a baller.
• 1:47
  SPEAKER_01: And the next thing you know, you're getting lapped.
• 1:50
  SPEAKER_01: And and no one else is singing this song, no one else is saying they're struggling with these things.
• 1:54
  SPEAKER_01: Yeah.
• 1:55
  SPEAKER_01: And then next thing you know, you find you're your own worst sort of thought partner.
• 1:59
  SPEAKER_01: You're not a good thought partner for yourself.
• 2:01
  SPEAKER_01: And the thing that I have found about myself is I'm not particularly great with the data.
• 2:07
  SPEAKER_01: I don't, as much as I do the data for my clients, I don't do it for myself.
• 2:11
  SPEAKER_01: Oh, interesting.
• 2:12
  SPEAKER_01: Because number one, it's tedious.
• 2:14
  SPEAKER_01: And number two, I just want to be producing.
• 2:16
  SPEAKER_01: I want to be churning it out.
• 2:18
  SPEAKER_01: And so the thing that I found helpful for you is that you become an excellent thought partner for originators in that in that space because you are data driven.
• 2:28
  SPEAKER_01: You do go back and you pull, particularly if you've known them for a period of time, you're looking at a lot of this.
• 2:34
  SPEAKER_01: Um, so I want you to A talk me through how you do that and then and maybe how what role AI plays.
• 2:39
  SPEAKER_01: Sure.
• 2:40
  SPEAKER_01: And then I'm gonna tag that on the on the end with another question, which is give me sort of, you know, when you go see physicians, they'll tell you the most common problems 56-year-old men have.
• 2:50
  SPEAKER_02: Yes.
• 2:50
  SPEAKER_01: Tell me the most common problems successful originators have when they come to you and they're stuck.
• 2:57
  SPEAKER_01: Okay.
• 2:57
  SPEAKER_01: Right, or they're in a bad headspace.
• 2:59
  SPEAKER_01: So so tell me first of all, how how do you get the information to present to them?
• 3:03
  SPEAKER_02: Yeah, well, first of all, let me say when you go to the doctor when you're 56, yeah, the conversation's different than when you were like 35.
• 3:10
  SPEAKER_02: Right, right.
• 3:10
  SPEAKER_02: We're gonna be here a while.
• 3:11
  SPEAKER_02: Actually, it starts changing around 40.
• 3:13
  SPEAKER_02: You're like, uh, okay, this is different.
• 3:16
  SPEAKER_01: Yeah.
• 3:17
  SPEAKER_02: All right.
• 3:17
  SPEAKER_02: So I think your first question was kind of like, why the data?
• 3:21
  SPEAKER_01: Or how do you get it?
• 3:22
  SPEAKER_01: How do you analyze it?
• 3:24
  SPEAKER_01: How do you prevent it?
• 3:25
  SPEAKER_02: So the reason I'm data driven is because I believe numbers tell a story.
• 3:28
  SPEAKER_02: Yeah.
• 3:29
  SPEAKER_02: Right.
• 3:29
  SPEAKER_02: And what I'm trying to uncover is based on the numbers that we're looking at, what story is it telling us about your business?
• 3:36
  SPEAKER_02: Right.
• 3:37
  SPEAKER_02: Ultimately, the goal I have is to help you run the business like it's a business.
• 3:43
  SPEAKER_02: I think so oftentimes, and not just you, it's NELO, but I think so oftentimes we're just trying to get the next deal, get through the next month, right?
• 3:51
  SPEAKER_02: We're only as good as the last month that we just had, that we don't stop and pause and actually look at where we're at, right?
• 3:57
  SPEAKER_02: And so I'm not saying the average loan originator treats us like a job.
• 4:01
  SPEAKER_02: I don't think we do that so much, but I don't think we always run it like a business.
• 4:05
  SPEAKER_02: For sure.
• 4:05
  SPEAKER_02: Right.
• 4:06
  SPEAKER_02: And so the data piece is important to help us uncover what those stories are.
• 4:10
  SPEAKER_02: And like I'll give you an example.
• 4:12
  SPEAKER_02: So uh we were I we work with a loan originator here, we all love that um their conversion rate is probably among the lowest in our company.
• 4:21
  SPEAKER_02: But it's not because they're necessarily a bad LO are not good at conversion.
• 4:25
  SPEAKER_02: It's because a large portion of the credit that they pull doesn't have a qualifying credit score.
• 4:31
  SPEAKER_01: Right.
• 4:32
  SPEAKER_02: Right.
• 4:32
  SPEAKER_02: So when I look at an LO's conversion rate and I'm comparing it to other LOs in that market or against the whole company, the first thing you would say is, well, that LO with the low conversion rate doesn't have great follow-up.
• 4:44
  SPEAKER_01: Yeah.
• 4:45
  SPEAKER_02: That may not be the answer.
• 4:46
  SPEAKER_02: Right.
• 4:46
  SPEAKER_02: That's where we've got to uncover what the story is, right?
• 4:49
  SPEAKER_02: So the conversation I had with that LO was we started to look at, well, where what is the quality of the credit that you're pulling, the quality of your customer?
• 4:58
  SPEAKER_02: And in this case, it was like 25% of the credit pools don't even credit qualify.
• 5:03
  SPEAKER_02: Right.
• 5:03
  SPEAKER_02: So the next conversation then Yes, it is.
• 5:07
  SPEAKER_02: Yes, that's another set of numbers, Mark.
• 5:11
  unknown: Right.
• 5:11
  SPEAKER_02: We'll get into the PL conversation later, right?
• 5:14
  SPEAKER_02: So um then the next conversation becomes, okay, man, well, where where are you shopping or where are you fishing, so to speak, right?
• 5:21
  SPEAKER_02: Because if you're I've been a proponent that where you're asking for business or what you're talking about in business is what you're gonna get.
• 5:29
  SPEAKER_02: So if you were the LO always talking about, I'm gonna help you repair your credit, right?
• 5:35
  SPEAKER_02: That's the client you're gonna get.
• 5:36
  SPEAKER_02: Sure.
• 5:36
  SPEAKER_02: Right.
• 5:37
  SPEAKER_02: And so the flip side of that is if you're having different conversations with borrowers, then those are or agents, that's what you're gonna get.
• 5:44
  SPEAKER_01: Yeah, so cut the grass theory, right?
• 5:46
  SPEAKER_01: You're so good at cutting the grass, you're gonna cut it every time now.
• 5:48
  SPEAKER_01: Yes.
• 5:49
  SPEAKER_02: Yeah, yeah.
• 5:49
  SPEAKER_02: You know, so um, where does the data come from?
• 5:51
  SPEAKER_02: And we look at a lot of different data points here.
• 5:54
  SPEAKER_02: So um, the first one for me is pre-approvals.
• 5:56
  SPEAKER_02: I mean, it's the first indication, the earliest indication of future success.
• 6:00
  SPEAKER_02: And by pre-approvals, you mean credit pools.
• 6:02
  SPEAKER_02: Yeah, yeah, yeah.
• 6:03
  SPEAKER_02: Yeah.
• 6:04
  SPEAKER_02: So, like for me, I look at it as hey, you actually got an at bat.
• 6:08
  SPEAKER_02: So an at bat, maybe you spoke to the borrower.
• 6:11
  SPEAKER_02: That first conversation, they might have told you they filed for bankruptcy two weeks ago.
• 6:15
  SPEAKER_01: Right.
• 6:15
  SPEAKER_02: Right.
• 6:16
  SPEAKER_02: At that point, to your point, we're not gonna pull credit because it's the most expensive thing that we have right now, right?
• 6:22
  SPEAKER_02: Right.
• 6:22
  SPEAKER_02: But you got an at bat, right?
• 6:24
  SPEAKER_02: And so that's a pre-approval.
• 6:26
  SPEAKER_02: And the next thing that we look at is locks.
• 6:28
  SPEAKER_02: I I love this.
• 6:29
  SPEAKER_02: I want to have this conversation with you real quick because you turned me onto this a couple of weeks ago.
• 6:33
  SPEAKER_02: You called me one day and you're like, Brian, I just feel like I'm losing deals.
• 6:36
  SPEAKER_02: And I'm trying to clarify what do you mean by losing deals?
• 6:39
  SPEAKER_02: Your thing was, I don't feel like I'm locking as many loans as I did this time last year.
• 6:44
  SPEAKER_03: Yep.
• 6:44
  SPEAKER_02: So I started looking into the number and I got back to you and I said, Mark, you're crazy.
• 6:49
  SPEAKER_02: You're locking more loans right now than you have in any historical number that I look back at.
• 6:55
  SPEAKER_01: Say it again, it sounds so good.
• 6:56
  SPEAKER_02: Yeah.
• 6:57
  SPEAKER_02: This is the this is the ego part.
• 6:59
  SPEAKER_02: Right, right.
• 7:00
  SPEAKER_02: Ego part.
• 7:01
  SPEAKER_02: So, and then like a couple of hours go by, and I don't know, whatever was going on my day, and I was like, you know what?
• 7:07
  SPEAKER_02: I didn't actually give the right answer because when I went back, I looked back at your pre-approvals, and you were doing way more pre-approvals than you were doing in the same time period last year.
• 7:18
  SPEAKER_02: Right.
• 7:19
  SPEAKER_02: So, of course you're doing more locks.
• 7:21
  SPEAKER_02: Right.
• 7:21
  SPEAKER_02: So, what we changed looking at then was versus how many pre-approvals you've done with qualifying credit, what percentage of those are you locking compared to the same time period the previous year?
• 7:34
  SPEAKER_02: Conversion.
• 7:34
  SPEAKER_02: Right.
• 7:35
  SPEAKER_02: And yeah, pre-approval to lock conversion.
• 7:37
  SPEAKER_02: And if I remember the number, it was pretty close.
• 7:40
  SPEAKER_03: Yeah.
• 7:40
  SPEAKER_02: So although you were having a significant increase in at bats and a significant increase in locks, your pre-approval to lock conversion was somewhat flat.
• 7:49
  SPEAKER_03: Yeah.
• 7:49
  SPEAKER_02: But that's where we start to take a look at that's real data that you and I can have a real conversation about.
• 7:55
  SPEAKER_02: Yep.
• 7:55
  SPEAKER_02: And now you can affect that data because you know what the story's saying.
• 7:59
  SPEAKER_01: Super helpful.
• 8:00
  SPEAKER_01: The context there, I think, for originators is everything.
• 8:04
  SPEAKER_01: Originators are, you know, they're so we're so driven by emotion.
• 8:09
  SPEAKER_01: We're so driven by the desire to wake up every morning.
• 8:13
  SPEAKER_01: I'm gonna get myself out of bed.
• 8:15
  SPEAKER_01: I am gonna go, go, go, go, go, because I know, and this is the beautiful part about this industry, this is 100% merit-based, baby.
• 8:21
  SPEAKER_01: Yes.
• 8:22
  SPEAKER_01: Like it's no seniority here.
• 8:24
  SPEAKER_01: No, you could be first month on the job and you could be top of the leaderboard.
• 8:28
  SPEAKER_01: It is all about how how hard you work and how much aptitude you have and driving it, driving it home for clients.
• 8:34
  SPEAKER_01: And that's what I love of it.
• 8:36
  SPEAKER_01: When it functions, when it fails, it's maddening.
• 8:39
  SPEAKER_01: Right.
• 8:40
  SPEAKER_01: It puts you into a death spiral of thought.
• 8:43
  SPEAKER_01: And the only thing that can shatter that is data, is what is what you bring to the table.
• 8:47
  SPEAKER_01: Yeah.
• 8:48
  SPEAKER_01: Can take the data and you can shatter those thoughts and go, hey, guess what?
• 8:51
  SPEAKER_01: Not every thought you have is true.
• 8:54
  SPEAKER_01: Yes.
• 8:54
  SPEAKER_01: Matter of fact, you probably have a lot of thoughts that are not true.
• 8:58
  SPEAKER_01: Yes.
• 8:58
  SPEAKER_01: And we're gonna shatter those with with data.
• 9:00
  SPEAKER_01: Anyway, I wanted to touch on that because it's been a game changer for me when I find myself in these ruts.
• 9:06
  SPEAKER_02: In a funk, yeah.
• 9:06
  SPEAKER_01: Yeah.
• 9:07
  SPEAKER_01: And normally it's sort of I'm just white knuckling my way through it.
• 9:09
  SPEAKER_02: Yeah.
• 9:10
  SPEAKER_01: And you don't have to do that.
• 9:11
  SPEAKER_01: If you have somebody in your life that can bring that data to you and you can look at your your business like a business objectively, I think it can be very helpful.
• 9:20
  SPEAKER_02: Yeah, I think the refreshing what I've enjoyed is like, so you know, I've worked with a lot of producers over the years.
• 9:26
  SPEAKER_02: I've I've been doing what I do in my role here for a decade and a half, right?
• 9:30
  SPEAKER_02: So it's a look, it's a pretty long road of experience and hundreds of LOs, right?
• 9:36
  SPEAKER_02: Yeah.
• 9:37
  SPEAKER_02: You're really the first one that I've worked with who's like not just top 1%, like top maybe quarter percent of LOs in the country, right?
• 9:45
  SPEAKER_02: And so our discussions are more about scale and probably mindset.
• 9:52
  SPEAKER_02: You don't need my help on where to go get another loan.
• 9:54
  SPEAKER_02: Right.
• 9:54
  SPEAKER_02: Now we work with plenty of LOs where that's a large part of what I do.
• 9:58
  SPEAKER_02: Well, with you, it's just a it's a different conversation.
• 10:01
  SPEAKER_02: Um, and it's one that's actually made me like sharpen my pencil, yeah, you know, so to speak, to be able to serve people at all levels of production, not just the the ones that were we're trying to take from three closings a month to six.
• 10:13
  SPEAKER_02: Yeah.
• 10:14
  SPEAKER_02: You know, yours is more like, I don't know, you think you closed 25 loans last month.
• 10:18
  SPEAKER_01: Yeah, it that's one thing about being in, you know, doing this for a while and having some success at doing it, is that it does give people sort of this air of, oh my gosh, you're so fine.
• 10:30
  SPEAKER_01: You know, we don't even have to pay attention to you, right?
• 10:33
  SPEAKER_01: And and I think we do top producers a disservice when we treat them like that because they're human beings too.
• 10:41
  SPEAKER_01: Yeah, they struggle in their own minds too, and particularly when they when you're faced with tough market after tough market, listen, you're gonna have a month or two that aren't gonna go the way you planned.
• 10:49
  SPEAKER_02: One of the questions you're asking me is like, where does the data come from?
• 10:52
  SPEAKER_02: And um, like what what tools are we using to kind of analyze it?
• 10:56
  SPEAKER_02: And you know, AI has been a huge b benefactor.
• 10:58
  SPEAKER_01: So like go deeper than that.
• 11:00
  SPEAKER_01: What which version of AI?
• 11:02
  SPEAKER_01: Obviously, we have Gemini, we have ChatGPT, we have Claude.
• 11:04
  SPEAKER_02: So right now I'm I'm doing it with Claude and I'm doing it in cowork.
• 11:08
  SPEAKER_01: Okay.
• 11:08
  SPEAKER_02: Right.
• 11:08
  SPEAKER_02: And so obviously I have all of the points of data that we get from an LOS system.
• 11:14
  SPEAKER_02: Um, uh, actually, I would say everything, every point of data is from the LOS system.
• 11:18
  SPEAKER_02: From there, I can get locks, I can get concessions, I can get submissions.
• 11:22
  SPEAKER_02: Obviously, we get closings, we determine what average loan amount is, we convert all of that stuff.
• 11:26
  SPEAKER_01: So you were just dicing up that data, baby.
• 11:28
  SPEAKER_02: Yes, and here's what's nuts, man.
• 11:30
  SPEAKER_02: Like, I used to do this like by hand.
• 11:33
  SPEAKER_02: Right.
• 11:34
  SPEAKER_02: You know, and so I here's my feeling is like, I feel like I owe it to you and and every loan original we work with to come to a meeting prepared.
• 11:43
  SPEAKER_02: Right.
• 11:44
  SPEAKER_02: So I could show up and wing it, and actually, I could probably show up and wing it and do pretty good.
• 11:48
  SPEAKER_02: You may not even know that I showed up and winged it.
• 11:50
  SPEAKER_02: Right.
• 11:50
  SPEAKER_02: But you deserve better than that, right?
• 11:52
  SPEAKER_02: So I come to every meeting prepared because I want to give everybody my very best.
• 11:57
  SPEAKER_02: So I would prepare for all of those meetings.
• 12:00
  SPEAKER_02: Um, and I did a lot of that work by hand.
• 12:02
  SPEAKER_02: And sometimes it might take several days to get there.
• 12:05
  SPEAKER_02: Today with Claude and specifically using co-work, I can crank, I can prepare for a meeting with you in about two minutes.
• 12:13
  SPEAKER_01: So that's so I'm gonna I'm gonna take you a little deeper there.
• 12:16
  SPEAKER_02: Okay.
• 12:16
  SPEAKER_01: Because a lot of people hear AI and they hear cowork and they hear Claude, particularly if they're, you know, of an age and they're like, you know, man, I don't even know where to start with that.
• 12:24
  SPEAKER_01: Right.
• 12:25
  SPEAKER_01: I of course I've gone on to ChatGPT and I've asked it questions and I've watched how it responds to me.
• 12:29
  SPEAKER_01: You're talking about a whole different ballgame here.
• 12:31
  SPEAKER_01: First of all, how do I even get the data in there?
• 12:33
  SPEAKER_01: Okay.
• 12:34
  SPEAKER_01: And second of all, what do I even tell it?
• 12:36
  SPEAKER_01: Right?
• 12:36
  SPEAKER_01: How do I get it to give me information back that's actionable that I can do so so walk me through, you know, in you know, a hundred words or less here.
• 12:45
  SPEAKER_01: How are you getting the information into Claude?
• 12:47
  SPEAKER_01: Number one.
• 12:48
  SPEAKER_01: And number two, what are you telling Claude to get you the output that you're that you're getting?
• 12:52
  SPEAKER_02: So right now I'm just pulling reports out of our LOS system.
• 12:55
  SPEAKER_01: These are just Excel dot Excel spreadsheets.
• 12:57
  SPEAKER_02: Yep.
• 12:57
  SPEAKER_02: And the way I've set it up is it sends me a new set of everything I want in the middle of the night on Sunday.
• 13:03
  SPEAKER_02: So when I log into my computer on Monday, I have the six or seven files that I want.
• 13:08
  SPEAKER_02: Coming to you via email.
• 13:09
  SPEAKER_02: Yep, coming to me via email.
• 13:10
  SPEAKER_02: I slide those over into the cowork file that I have on my computer that Cloud Cowork is tied to, right?
• 13:17
  SPEAKER_02: So I direct the Cloud Cowork to all of the data you need is here and it's literally stored on my given it permission.
• 13:24
  SPEAKER_02: Yep, I've already given it the permission.
• 13:25
  SPEAKER_02: So from there, your next question is how do we build out the that took a lot longer than just uploading some files, right?
• 13:32
  SPEAKER_01: These are like cowork instructions, skills, and things like that.
• 13:35
  SPEAKER_01: Yep.
• 13:35
  SPEAKER_02: And I'll just even like I met with one of our loan officers yesterday and she gave me a piece of feedback on the report that we were going over with her, which is like six or seven tabs of data on an Excel spreadsheet.
• 13:46
  SPEAKER_02: And while she gave me that piece of feedback, I went right into Cloud Cowork and gave it the feedback and said rerun it and make sure going forward, when I say run this, you include it every single time.
• 14:00
  SPEAKER_02: So I was able to take live feedback from a one-on-one that I was having with the loan officer and continue to build out the skill.
• 14:12
  SPEAKER_01: It's such a big topic, right?
• 14:13
  SPEAKER_01: It's like it's like saying, you know, energy.
• 14:16
  SPEAKER_01: We're gonna talk about energy.
• 14:17
  SPEAKER_01: It's such a big topic.
• 14:18
  SPEAKER_03: Yeah.
• 14:20
  SPEAKER_01: Demystifying AI is probably one of the most important things you can do right now in business.
• 14:25
  SPEAKER_01: Is how do I take all the mis mystery and the uncertainty and the fear I have about it and remove that and begin my journey with it.
• 14:36
  SPEAKER_02: Sure.
• 14:36
  SPEAKER_01: And I I think there's not just nothing like getting in there and having to produce something real for someone else.
• 14:43
  SPEAKER_01: Yes.
• 14:44
  SPEAKER_01: You know, not for yourself.
• 14:45
  SPEAKER_01: You're trying to produce something real for someone else so you can help them with whatever problem they're trying to solve.
• 14:51
  SPEAKER_01: And it the very act of doing that, right?
• 14:53
  SPEAKER_01: The very act of participating in that relationship with AI, yeah, it starts to take away the fear, the uncertainty, the anxiety around it.
• 15:01
  SPEAKER_01: And you start to realize, you know what, it's just a really useful utility for me.
• 15:06
  SPEAKER_01: That's really what this is.
• 15:07
  SPEAKER_02: I mean, so when you think about it, like I'm just taking like everything that I'm thinking and I'm just saying it out loud.
• 15:14
  SPEAKER_02: Yeah.
• 15:15
  SPEAKER_02: Right.
• 15:15
  SPEAKER_02: And that's one of the things I love about AI.
• 15:17
  SPEAKER_02: Like, you're just saying, like, how do we get over the demystification of it?
• 15:20
  SPEAKER_02: I think you just start talking to it.
• 15:22
  SPEAKER_02: Right.
• 15:22
  SPEAKER_02: Right.
• 15:22
  SPEAKER_02: And so what I love about it is none of my thoughts have to be in order or organized.
• 15:27
  SPEAKER_02: They can all be completely random.
• 15:30
  SPEAKER_02: And it can take all of that randomness and put order to it.
• 15:33
  SPEAKER_00: Yeah.
• 15:34
  SPEAKER_02: Right.
• 15:34
  SPEAKER_02: And love it.
• 15:35
  SPEAKER_01: Yeah, once the order's to it, and you can do whatever you want with it.
• 15:39
  SPEAKER_01: Do you use um, I don't think Anthroopic has it yet for CarPlay.
• 15:43
  SPEAKER_01: But in CarPlay, you know, there's ChatGPT now and there's Perplexity.
• 15:47
  SPEAKER_01: Both of those exist in CarPlay.
• 15:49
  SPEAKER_02: Yeah.
• 15:49
  SPEAKER_01: Do you use those at all?
• 15:50
  SPEAKER_02: I don't, and that's because my car's 10 years old.
• 15:56
  SPEAKER_01: All right, we're gonna talk about cars next.
• 15:58
  SPEAKER_01: But I have found that with ChatGPT in particular, that CarPlay now, CarPlay with ChatGPT is an incredible thing.
• 16:06
  SPEAKER_02: So it's just on Apple Play.
• 16:08
  SPEAKER_01: Yeah.
• 16:08
  SPEAKER_02: Or or Android Auto or whatever, yeah.
• 16:11
  SPEAKER_01: For sure.
• 16:11
  SPEAKER_01: So I'm cruising down the road, I can queue up the app, and next thing you know, I'm just having a conversation.
• 16:17
  SPEAKER_01: And I found it to be an incredible thought partner for me.
• 16:21
  SPEAKER_01: And I can just bounce ideas off of it, and some of them are horrible.
• 16:24
  SPEAKER_01: And yeah, I've I've put instructions in to you know the settings to say be adversarial, right?
• 16:30
  SPEAKER_02: Don't affirm me.
• 16:31
  SPEAKER_02: Yeah, yeah.
• 16:32
  SPEAKER_02: Don't, yeah, don't pat me on the back and tell me how smart I am.
• 16:35
  SPEAKER_01: I don't give those same instructions to Ashley, my wife.
• 16:37
  SPEAKER_01: Yeah, yeah.
• 16:37
  SPEAKER_01: So those are different instructions.
• 16:38
  SPEAKER_01: Those are completely different instructions for for chat.
• 16:41
  SPEAKER_01: And I do find it it's an incredibly good thought partner to help me think through some of the perils of where I'm going, but also illuminate some avenues that I hadn't even considered.
• 16:49
  SPEAKER_01: Yeah, you know, yeah.
• 16:50
  SPEAKER_02: I do so I, you know, that could probably be a whole different episode, but I that's a level three user, in my opinion.
• 16:56
  SPEAKER_02: So I've talked about it in terms of a level one user is using AI as like their new Google.
• 17:00
  SPEAKER_03: Yep.
• 17:01
  SPEAKER_02: Right.
• 17:01
  SPEAKER_02: Um, maybe they're using it to help them craft emails to better search messages.
• 17:06
  SPEAKER_02: Yeah.
• 17:06
  SPEAKER_02: Yes.
• 17:06
  SPEAKER_02: Yeah.
• 17:07
  SPEAKER_02: Right.
• 17:07
  SPEAKER_02: Level two is I'm using it to solve more complex problems.
• 17:10
  SPEAKER_02: Like in our business, I might be using it as a loan scenario help desk.
• 17:14
  SPEAKER_02: Yeah.
• 17:14
  SPEAKER_02: Almost like an underwriting help desk.
• 17:16
  SPEAKER_02: Right.
• 17:16
  SPEAKER_02: Maybe I'm using it to help me with some marketing and different things like that.
• 17:19
  SPEAKER_02: Sure.
• 17:20
  SPEAKER_02: Level three is where it becomes your thought partner.
• 17:23
  SPEAKER_02: Right.
• 17:23
  SPEAKER_02: And so I got to be clear to say, you are the thought leader.
• 17:27
  SPEAKER_02: I'm the thought leader.
• 17:28
  SPEAKER_02: If you're the user of this resource, which is what it is, you still need to be the thought leader.
• 17:34
  SPEAKER_02: But you're using it as a thought partner and helping you figure out some of these things.
• 17:40
  SPEAKER_01: Parse through these different ideas that you have.
• 17:42
  SPEAKER_01: Or I have found it where, you know, even just, hey, you know, I find my business a little stuck.
• 17:47
  SPEAKER_01: I'm not cultivating new referral partners.
• 17:49
  SPEAKER_01: Give me some disciplines.
• 17:51
  SPEAKER_01: I love that word, by the way.
• 17:52
  SPEAKER_01: Give me some disciplines that are going to help me cultivate new referral partners.
• 17:57
  SPEAKER_01: You know, maybe not necessarily real estate agents.
• 17:59
  SPEAKER_01: Maybe they're outside of real estate agents.
• 18:00
  SPEAKER_01: Everyone's going after real estate agents right now.
• 18:03
  SPEAKER_01: Maybe they're maybe they exist in different verticals.
• 18:05
  SPEAKER_01: So give me some other some ways to help cultivate those businesses.
• 18:09
  SPEAKER_01: It's been wonderful for that.
• 18:10
  SPEAKER_02: Yeah.
• 18:10
  SPEAKER_02: Yeah.
• 18:11
  SPEAKER_02: Absolutely.
• 18:11
  SPEAKER_02: Just a really, really great tool.
• 18:13
  SPEAKER_02: Yeah.
• 18:13
  SPEAKER_01: Let's get back to cars.
• 18:14
  SPEAKER_02: Okay.
• 18:15
  SPEAKER_01: Why why do I have a 10-year-old car?
• 18:16
  SPEAKER_01: If we could just go with it, I'm gonna get I want you to give me your dream car okay.
• 18:21
  SPEAKER_01: That's under$100,000.
• 18:24
  SPEAKER_02: Oh, this is easy.
• 18:24
  SPEAKER_02: Yeah, give it to me.
• 18:25
  SPEAKER_02: This is easy.
• 18:26
  SPEAKER_02: So um I I'm I might be an anomaly.
• 18:29
  SPEAKER_02: Like I'm a believer in not buying used cars.
• 18:32
  SPEAKER_02: Uh-huh.
• 18:32
  SPEAKER_02: Because if I buy one two years old, it's like half off.
• 18:35
  SPEAKER_01: Right.
• 18:36
  SPEAKER_02: So right now, the reason my car is so old is because I have two kids and they have the newer cars, right?
• 18:42
  SPEAKER_02: So I'm a we're a four-car family, um, which means dad makes sure that all of the cars run and all of that, right?
• 18:50
  SPEAKER_02: Sure.
• 18:51
  SPEAKER_02: Um, so that answer is it would be a Maserati Ghibli.
• 18:55
  SPEAKER_01: Ooh, and that's a hundred under a hundred thousand dollars.
• 18:57
  SPEAKER_02: Yeah, use one, absolutely, yes.
• 18:59
  SPEAKER_01: No kidding.
• 18:59
  SPEAKER_02: Yes, yes, yes, yes.
• 19:00
  SPEAKER_01: Not a bad, that's not a bad take.
• 19:02
  SPEAKER_02: Yeah, I feel like, you know, I you know, it's either that or um, I've had my eye on a convertible Mercedes for a while.
• 19:09
  SPEAKER_02: Yeah.
• 19:10
  SPEAKER_02: But uh uh my golf clubs are also gonna need to fit in it.
• 19:13
  SPEAKER_02: So that that's a factor.
• 19:15
  SPEAKER_02: It's important.
• 19:16
  SPEAKER_02: That's a factor.
• 19:17
  SPEAKER_02: So