Latest / Mortgage Marketing Radio / Ep #95: The Art of Selling RENO Loans, Prospecting Agent Teams and Closing 250 Loans per Year

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Ep #95: The Art of Selling RENO Loans, Prospecting Agent Teams and Closing 250 Loans per Year · Mortgage Marketing Radio

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In today's highly competitive mortgage industry, building profitable relationships with
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real estate agents is essential for success.
0:06
However, finding effective ways to secure agent relationships can be a challenge.
0:11
With so many mortgage loan originators vying for the attention of real estate agents,
0:15
it can be difficult to stand out and establish meaningful connections.
0:20
Our new case study featuring loan officer Chris Cogill is a must-read.
0:25
Chris has closed a remarkable 36 million in funded loans from agent referrals.
0:31
And in this case study, he shares his proven strategies for building strong relationships
0:35
with real estate agents and leveraging those relationships to drive more business.
0:39
To get your hands on this resource, head over to LOKestudy.com and download your free copy
0:45
of the case study today.
0:47
You'll find actionable insights and practical tips that Chris used to close 36 million
0:52
in funded loans from agent referrals and how you can, too.
0:56
Don't miss out.
0:57
Go check it out right now, visit LOKestudy.com and download your free copy today.
1:19
Bye.
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The Mortgage Marketing Institute, your number one source for truth in mortgage marketing.
1:34
Hey listeners, Jeff Zimper, once again, welcome to another episode of Mortgage Marketing
1:38
Radio Truth in Mortgage Marketing.
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What Mortgage Marketing Pro membership is all about you.
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You as the loan officer who is looking to adjust and pivot for the market shift that is
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happening under our feet right now and ways that you can be more successful with real estate
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agents, right, capture relationships, capture referrals, build that fence around your real
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estate agents.
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How do you get noticed and rise above the noise in your local market?
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If you're looking to get off the treadmill of the income roller coaster and ups and downs
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You can't wing it anymore.
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Check out the Mortgage Marketing Pro membership.
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How do you do it?
4:00
Mortgagemarketing.pro.
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Or you click the link in the show notes as well, get more agents and creature sales, get
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more consumer direct business.
4:10
We're talking about, all right, so my special guest for this episode, very impressive woman
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and we need more powerful women being represented in the mortgage industry and my special guest
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is definitely within that category, not only a powerful woman producer, just a great
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person too.
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So Kathy Hadad, where does she hail from?
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She hails from Fist Pump City, Jersey, baby and she is a superstar, consistently ranked
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among the top originators in the country, over $100 million, $250 plus units annually
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that she's doing, manages just a team of two, you'll hear her talk about how she structures
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her team.
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We're going to dive into a couple of big areas of focus with Kathy and that is Renault
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loans, so renovation loans and how she's expanding that and adding that to her business.
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She does two to three loans a month of Renault loans, so a little conversation about how we
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deal with the perception of Renault loans from real estate agents and consumers and help
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add those to your marketing mix.
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Lots of great opportunities for you to position yourself uniquely with Renault loans.
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We're also going to talk about focusing on big teams.
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So you've seen it happen in the real estate industry, right?
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There's the growth of teams.
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It's happening in the mortgage industry as well, but look at, I mean face it, if you're
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going to be, if you're going to want to grow quantum leaps in your business, I mean,
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you could go one Z2Z realtor, right?
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And that's definitely part of the mix, but also wouldn't it make sense to start looking
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at ways that you could get engaged with teams, right?
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And these are teams that a listing agent is usually at the head of that team and they've
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got buyers agents underneath them.
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So Kathy's going to talk about how she does that and does it like in a very organic natural
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way.
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One of the ways that she does that is just by being present in the local community of
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real estate agents.
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So she's just a great natural networker and you'll hear her talk about how she kind
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of gets face time with teams.
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We're also going to talk about how she connects with real estate agents on Facebook and converts
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those, takes the online offline, converts those to face-to-face meetings.
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We're going to talk about other social media stuff she's doing with videos and things
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like that.
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So really just a nice, you know, kind of a schmorgasbord, if you will, of topics.
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Why not?
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We're heading into, how about a cornucopia?
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A cornucopia of ideas in this session.
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We're heading into Thanksgiving and that's all I can think of was cornucopia.
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You know, that weird count looking thing that's full of all of fruits and vegetables
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and whatever.
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So that's what you get in this episode is a collection of different nuggets for you
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to use and apply to your business.
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And of course, any links we'll put in the show notes to Kathy's Facebook page if you
6:41
want to follow her and appreciate your comments and love on the podcast anywhere you can.
6:47
And again, if you want to go check out mortgage marketing pro, you do that by going to
6:51
mortgagemarketing.pro.
6:52
So with that said, let's get into this week's episode Kathy, welcome to the show.
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Thank you.
6:59
Thank you for having me.
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It is a pleasure.
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I know you're crazy busy.
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You are out there on the east coast out in Jersey, right?
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Yes.
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30 Jersey.
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30 Jersey.
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30 Jersey.
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5 pumps for Jersey.
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So as you know, people heard the formal introduction of you before we got to this section.
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But I always like to just give your personal take on who's Kathy, how long she been in
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the business?
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Why do you still love what you do every day?
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Sure.
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Okay.
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So my name is Kathy Dad with Atlantic Home Loans.
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I've been with Atlantic Home Loans for 10 to 15 years that I've been in the business.
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And I started, you know, really young at 19 years old and complete, like, just really
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didn't have many options.
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And so they know that let me just give it a try and see what happens.
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And before you know it, you know, still here 15 years later, you know, originating over
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100 million in volume.
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And still love what I do every single day.
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Yeah.
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So on that note, we're real quickly 100 million in volume.
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I think for my notes last time, that's over 200 units.
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Is that right?
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Yeah, like about, you know, 265 to 70 ish.
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Yeah.
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That's that's a lot of loans.
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Congratulations, by the way, that's not easy to do.
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And especially, I think, well, let me, you know, we'll take care of the business first,
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but then I want to kind of unpack some of how you generate your business.
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But give me a quick breakdown of of your team, because that's a lot of units and whenever
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LLO hears that, as I'm sure you know, they're like, hey, she's must have this team in two
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years and all that.
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So sure.
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Sure.
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Yeah.
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I have two basically, like, I really don't want to call them loan office or assistance
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because they're more than that.
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They're really just more of like a process or almost.
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They have to have that kind of background where they basically, you know, help me with
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running credit, running DU, reviewing documents, sending out needs lists, helping structure
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the deals.
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They even can send rate quotes out payment scenarios.
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So they basically do it all.
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They're not loan officers.
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So they don't sell.
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I'm the only person who sells on the team.
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So that's really my focus is to get the business.
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And then also continue the business and keep everyone in the loop and, you know, like as
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far as like the sales part of the job, that's what I really focused my time on.
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And then, you know, so that's really about it.
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Just the two loan officer systems, which again, they're more of like a process or kind
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of background.
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So you're right and left hands, aren't they?
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That's right.
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Exactly.
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I couldn't do it without them.
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Yeah, I know.
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Are they licensed?
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Yes.
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They are.
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Recently, like about a year ago, I got them licensed just because you know, I wanted them
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to be able to send out rate quotes and discuss rates and payment options and things like
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that.
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So where I am, they do require that.
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So that was one of the things that they have to do.
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Got it.
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How long have they been with you?
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So let's see.
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So they've been, well, that has been with me for, I don't know, three years now.
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And I actually just replaced another person he moved out and has moved on to a different
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state.
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And now I'm working with another person who actually used to be a processor at our company
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and just transitioned him into this role.
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So he's been with the company for a while, but he's been on my team probably for about,
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I don't know, a good month.
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Okay.
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Wow.
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Brand new, yeah.
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Not brand new to the company.
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So we transitioned really nicely.
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Exactly.
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So it's going to say that you're fortunate in that because I'm sure you're well aware of
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some of the challenges in hiring a team.
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Oh, yeah.
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It's the hardest thing because the bad hires weren't that no higher at all, you know?
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Ooh, I like that.
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That's good.
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Bad hires weren't at all.
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That's a writer downer.
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Yeah.
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You know, it's funny.
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Whenever we talk about team, I wanted to ask you, you know, how you go about selecting
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your team members.
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So you have the one individual, the gentleman who's already been with the company.
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So that's kind of an easy transition, like you said.
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But the other person, did you say her name was Beth?
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Yes.
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Okay.
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So how did you wind up selecting Beth and is there a process that you went through or you
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would suggest people go through to, you know, when they're considering bringing on a support
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person?
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Yeah.
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So funny enough, she was also another recruit within the organization.
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No, we got it easy.
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Yeah.
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I know, right?
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I believe it or not.
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But, you know, in the past, before Beth, I had another assistant that I actually don't
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really remember.
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But I think it was like I went on LinkedIn, I went on Facebook, I went on those, you
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know, what's that website for the company?
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My HR, like, put it out there.
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I had them just put it out to all the different websites.
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And then I just started getting resumes.
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And what I look for in a recruit is, you know, there's a lot of different things that
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mostly just their knowledge experience, their customer service, their willingness to learn.
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And, you know, also, you know, be excited about a growth opportunity growing with the company
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and, you know, having that kind of positive attitude, you know, and I feel like that's really
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what I really focus on.
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But, because a lot of things you can teach them, but I really look at character too.
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Character has a lot to do with it.
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Amen.
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I like that.
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Okay.
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Briefly then, I want to better understand a little bit, go back to what you said about
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you focus on sales.
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So if you could maybe, you know, map out for what that process looks like, let's just
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say, hey, you get a referral from a real estate agent, kind of a high level overview of how
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you take people through that process and what your team handles versus what you don't
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handle.
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Yeah, sure.
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So let's say a realtor recommends me someone I will call the client, you know, build
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the report, get the trust, and, you know, introduce myself and kind of get a feel of what
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it is that they're looking for.
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And then I basically, you know, walk them through what steps to look out for as far as
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filling out an application.
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I do give them the option to go online or take it over the phone with me.
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Most of the time I try to do it if I can over the phone.
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If not, I will have one of my team members fill it out with them online.
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And then once they send their documents over, then at that point, that's when they will
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connect with me, because I will then go over their options with them, you know, get them,
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you know, excited about buying and then, you know, let them know the next steps of when
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they start house hunting.
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In that process, I'm always keeping the realtor up to date, because that is really very
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important.
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Like, down to the point where once I leave them a message, I let the realtor know.
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Once we connect, I let them know once we pre-approved them, the realtor is on top of it.
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And then I also constantly prospect.
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So I will do a lot of prospecting and copy the realtor's on there, which they love that,
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because, you know, if they're busy schedules, they know that I'm back and they're helping
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them prospect and staying on top of the transaction, making sure how their house hunting is going.
13:55
Yeah, what do you mean helping them prospect for homes?
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Well, like, basically just following up.
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So for example, if it's been like, you know, I basically do a lot of prospecting, meaning
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I follow up with the people that we pre-approved on a constant basis, that is a big part of
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my job is prospecting.
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So I will, you know, reach out to them, see how their house hunt is going.
14:17
Oh, okay.
14:18
You talk about like, yeah, yeah, exactly.
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Just really staying on top of the people that we pre-approved, making sure that I don't
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lose touch with them.
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Now, that's a great, great thing to bring up.
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Thank you for highlighting that, because I know that's a challenge for some in the, you
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know, listeners right now, with flow inventory or whatnot and people kind of sitting on the
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fence, kind of waiting it out.
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So, and I wrote that down, actually, you, what did you say?
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You get people excited about buying.
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That's right.
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So how do you do that just by staying top of mind, calling, checking in?
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Yeah, absolutely.
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And I'll even say, you know, like, you know, how's your hunt going?
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Oh, I haven't really found anything and everything needs work.
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And, you know, sometimes we'll look at different options, we'll maybe consider a renovation
15:00
loan.
15:01
Did you start looking at a different kind of price point or maybe, you know, you should
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reconnect with your realtor and see, are you looking to maybe go in a different direction
15:10
of the, the neighborhood or what you're trying to do?
15:13
You know, whatever it is, we try to really stay on top of them and keep them motivated
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and let them know, like, you know, it's still a great time to buy, rates are still low.
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And, you know, I'll constantly even say, you know, is there something that you're not
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really sure if you could afford?
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Why don't I help you with a payment breakdown and give you an update?
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Maybe you can afford it, but you never know, because most people think, oh, I can never
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afford this.
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And then they find out the monthly payment and they're like, oh, it's not that bad.
15:38
So.
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You're trying to, like, creatively look and solve a problem.
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That's what you're doing.
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Exactly.
15:43
And, sometimes we'll even say, you know, look at, you know, getting a two-family home,
15:48
you know, and just write down one, you're just giving them different options that they may
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or may not have even ever sought out.
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I like that.
15:56
How do you manage the follow-up on that, meaning, stand top of it, right?
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Do you use, like, a calendar alerts and stuff, a CRM, scratch pads?
16:05
Yep.
16:06
I have a CRM that doesn't automatically.
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That's pretty much top of mind for anyone that even filled out an application never
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says that's their document or someone that we've pre-approved already or someone that's
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already closed.
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So that's, like, basically, a CRM that I use.
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For me, the actual following up, it's anyone that we've basically pre-approved in the
16:24
last year or so, sometimes even further depending on the kind of response I get from the client.
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When I first pre-approved them, I try to follow up every week and then it goes to pretty
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much like every two weeks and then depending on where they are, you know, if they put
16:41
an offer, I follow up with them again within 24 hours and then, you know, see if their
16:46
offer was accepted.
16:47
So I have pretty much like a, it's called a prospect sheet, carnival school where I basically
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look at these sheets every single day and just keep following up.
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So it's not necessarily on a calendar, but I do keep track of where and how I left
17:02
left off with them.
17:03
So it's a little old school.
17:04
It's like those lone files we used to keep on that rack on the desk.
17:09
That's right.
17:10
I still have that.
17:11
For me, it works really well.
17:12
Yeah.
17:13
Well, it's really cool.
17:14
It actually reminds me of the doctor thing where the doctor walks in and grabs the clipboard,
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you know.
17:18
Exactly.
17:19
Yeah, exactly.
17:20
In the old days.
17:21
Like, let's check here.
17:22
What's with this patient?
17:23
All right.
17:24
Yes.
17:25
Exactly.
17:26
No, that's really cool.
17:27
I like that.
17:28
And you mentioned CRM.
17:29
So naturally, everybody's curious what CRM do you use?
17:32
Um, it's, I mean, I don't, I'm not going to say I recommend it or don't recommend it,
17:37
but it's.
17:38
It's what?
17:39
Vantage.
17:40
Vantage, yes.
17:41
Okay.
17:42
All right.
17:43
Yes.
17:44
This isn't an endorsement.
17:45
It's just saying who you use.
17:46
That's right.
17:47
Full disclaimer is available.
17:48
All right.
17:49
Very good.
17:50
Cool.
17:51
Thank you for mapping that out.
17:52
You know, I'm talking a lot of L.O.'s and that's one of their frustrations.
17:55
It's, you know, how do we stand up to people?
17:57
How do we get them to get active and get into the market?
18:00
So I think those are some good ideas there.
18:01
You got to be creative.
18:02
You're a problem solver, uh, present different options and solutions.
18:05
I want to focus on in preparing for this, this, this call, there's like two areas that
18:09
I wanted to focus in on, um, for you.
18:12
One of them you just mentioned is Renault loans.
18:14
I'd be curious to know, is that a significant portion of your business or is that going to
18:18
grow for you?
18:20
It's been growing a lot, um, because I feel like really getting it out there for realtors
18:26
and others to be open to it is, it's sometimes challenging.
18:31
But, um, yeah, I mean, since I started doing them, really put a lot of focus into it.
18:37
I mean, we've been doing it for a while, but where I've actually put focus where I've
18:40
been putting it out there, doing seminars, you know, reaching out to lunch and learns
18:44
with my realtors and, you know, getting it out there.
18:47
Um, I've probably closed, you know, two to three months.
18:51
I mean, maybe less depending.
18:53
I mean, it's hard for me to, I haven't really tracked it to be honest, but a good amount
18:57
where, you know, we do enough of them to really understand and we hopefully want to continue
19:03
to do more of those because they're great loans.
19:05
Yeah, they are.
19:06
And, um, I noticed you, uh, uh, in terms of you putting it out there, I saw a picture
19:10
you posted on, on social media, which was a before and after photo for the 203K.
19:14
I thought that was great.
19:15
Yeah.
19:16
So, yeah, how do you deal with the challenge of the perception of those being difficult
19:21
loans?
19:22
I guess, particularly, let's take realtors first because, you know, their, their perception
19:25
is those are difficult.
19:26
Yeah.
19:27
So I think, you know, presenting it to them in a way that if you have a buyer that,
19:32
you know, it's really picky and everything you show them is not going to miss meter,
19:39
you know, checklist, then that you may want to consider looking at a house that needs
19:44
work so they can actually customize it to their needs.
19:48
And now you have a sale and now you've offered them something that most people wouldn't think
19:52
to offer or know to offer to their clients.
19:56
And from there, they can basically make a house the way they want it.
20:02
And then they don't have to worry about the fact that the bathroom is outdated or the
20:05
kitchen needs to be updated or they need to paint the walls and put in a sear.
20:10
Whatever it is, build an addition, whatever they are looking to do, it's really just opening
20:16
up their eyes to those opportunities and making sure that they find a price point, including
20:21
the right of it is that it's something that they can afford.
20:24
And now they've basically given the client another option rather than just continuing the
20:28
same search of looking at a house that, you know, is pretty much moving ready but not
20:34
to their taste or maybe missing something.
20:38
And once you have the ability to kind of present your case like that, do you find that
20:43
some of the realtors then respond and they want to be with you to learn more?
20:47
Yeah, absolutely.
20:48
I mean, I've even had situations where I've let realtors know that, you know, like FHA
20:53
sometimes repairs need to be done and the seller's not willing to do it.
20:57
We can convert that into a 203K and get the deal closed.
21:00
So that's, you know, another thing and, you know, the more you kind of express that to
21:04
them, they're like, oh, I have a deal that's dying.
21:07
Let me call Kathy.
21:08
Should I remember her telling me about the situation that, you know, the septic, there's
21:12
a problem we can actually get that, you know, keep the deal alive and, you know, if the
21:17
buyer is willing to do it.
21:19
And so, yeah, I think once you kind of open the doors and let them, you know, see a different
21:25
way of looking at things and they can actually get their deal closed, they're, you're going
21:29
to find a lot more people who will be calling you.
21:32
Okay.
21:33
That's great.
21:34
Now, what about on the consumer side and education process has to happen?
21:39
Do you take ownership of that?
21:40
Do you, obviously, it helps to have a realtor kind of tee up that conversation, but any learning
21:46
lessons regarding consumers and rental loans?
21:49
Yeah.
21:50
I mean, I basically say the same thing to them, you know, like you have certain tastes
21:55
and that's wonderful and this could be an opportunity for you.
21:58
The monthly payment is still really affordable.
22:00
It's cheaper than hard money and it's something that, you know, you can definitely look at
22:06
that can give you instant equities in most cases and you can really customize it to your
22:13
needs where you can, you know, get into a home that now is designed based on what you
22:19
would like and then it fits your needs and then you can also have some equity left over,
22:24
you know, pretty much how I would present it in most cases.
22:28
Yeah, I like that instant equity.
22:30
I think some people listening, I mean, I might be assuming here, but I think some might overlook that.
22:36
Explain that a little bit further.
22:37
How are you demonstrating to that client two things?
22:41
One, the instant equity thing, talk about that.
22:43
But, you know, because the perception, correct way if I'm wrong, is like, that's just going
22:47
to take longer and this is going to drag out the deal and there's going to be head, you know,
22:50
I mean, headaches and all that.
22:51
Yeah.
22:52
I think if you learn enough about it and that you get the right team in place because where
22:57
the delays come in is mostly from like the contractors getting their paperwork.
23:02
So if you get to a point where you can start recommending different contractors within the
23:07
area that are used to doing these types of ones, that also helps speed up the process and
23:12
setting expectations is also really important as well.
23:15
And then also working with HUD consultants that you know are, you know, going to be good
23:19
because you have different ones that have different levels of, you know, professionalism
23:23
and what they're capable of and, you know, how quickly they work with you.
23:27
But as far as the instant equity, you know, it's pretty much that if you purchase a home
23:32
at below market value and then you basically do certain improvements to the home, now your
23:39
home will be worth hopefully in some cases, it's what you bought it for plus the renovations
23:45
and on top of that, now you've increased the value of the property as well.
23:49
And so in some cases, you know, I've seen situations where, you know, I've had clients
23:54
that have had 50, 60,000 after all the money they've put into it with after-cost
23:59
renovations, what their house now improved on in this, in this market.
24:03
Now that's not always the case.
24:05
We happen to be in a really frosty market where home prices are going up.
24:09
So that's also obviously helped for it.
24:10
But it's really nice to have that where most people when they buy a house, they're buying
24:14
it right at market costs and they don't have that instant equity besides what they put
24:19
into the down payment.
24:21
No, yeah, that makes a lot of sense.
24:23
You know, people buy an emotion and back it up with the logic.
24:26
So it's like we said earlier, oftentimes it's, hey, that won the bathroom or this or that
24:30
one little thing.
24:31
But it's an educate process.
24:32
So I think, you know, what you made a great point is you've got to become educated on
24:36
it.
24:37
Don't try and, you know, all of a sudden like, hey, I'm the rental person, you know,
24:39
without doing the homework.
24:41
Exactly.
24:42
I mean, anytime I start doing anything, I mean, most of my time I spend not only on sales
24:47
but also educating like I literally will read guidelines, I make sure I keep up with everything
24:53
that's going on.
24:54
The new stuff that's coming out because, you know, knowledge is power.
24:57
So I always make sure that I need to stay on top of that and be ahead of the next guy.
25:01
Yeah, exactly.
25:02
And of course, there's some advanced strategies to such as, you know, if you have access
25:07
to the MLS, looking at listings that might have been sitting for a while.
25:11
That might be a red flag that say there might be some issues and things like that.
25:14
And that's a great opportunity to call those listing agents and say, hey, you know, who
25:17
just saw that listing and sitting there for a little bit longer than a normal mark.
25:20
I just kind of curious, you know, like, yeah, absolutely.
25:23
Yeah.
25:24
All right.
25:25
So other big category for us is when you and I last talked in terms of you growing your
25:30
business because, you know, you've been doing this 15 years or so.
25:33
As you said, you've got a nice core base of real estate agents who send you business.
25:38
You mentioned something to me that you're doing.
25:39
And I don't know if it's how new it is, but you're focusing on big teams in real estate
25:43
to go after them.
25:44
Yeah.
25:45
I mean, I work with, yeah, I work with a lot of individual agents and a lot of agents
25:50
that are new to the business, but my biggest success that I sound just because of the way
25:57
these big teams work, they we work very well together in the sense that, you know, they
26:03
have the same values, the same passion and the same work ethic and expectation.
26:09
So when you build with the team that, you know, they're doing a lot of volume as well,
26:14
they usually have those same kinds of characteristics and same, you know, passion, work ethic.
26:20
So that's where I found where I work really well because the agents see that in me and
26:24
they're like, you know, I really don't want to work with anyone else because, you know,
26:28
she's going to take my calls on a weekend.
26:30
She's going to, you know, get me what I need and if she can't get to it, one of her team
26:34
members will and she's not going to let a deal fall apart, you know, and she's going
26:38
to put in the work and make sure that, you know, they do all the necessary steps and give
26:42
our clients competitive interest rates and give them the service that they deserve and
26:47
not have to worry about it.
26:48
And so what's nice about working with big teams is that buyers agents now, you know, are
26:53
going to work with the main person who is the lifting agent and they're really going
26:57
to try to push their buyers agents to work with you.
27:01
So it also kind of helps me be able to build stronger relationships more intimately with
27:06
these teams versus trying to really focus on, you know, 12 individual agents where I can
27:12
now work on a team basis and feel like I'm part of a team and part of an environment,
27:16
a growing environment that's, you know, we're working together and we're kind of like
27:20
a family unit, which, you know, I really enjoy that because I now I feel like I'm a part
27:24
of something.
27:26
Well, so I'd be curious to know then, you know, if you can give an illustration of how
27:32
you perhaps pursued a team, like how that comes together because I know for a fact
27:37
in going after teams that it's not necessarily easy.
27:40
It's helpful if you've got a name and a brand established in your level community,
27:43
what you do among real estate agents.
27:45
So I'm sure that's helpful and probably get you to the table a number of times.
27:48
But for those that maybe, you know, don't have that yet, but recognize the value of a
27:53
team.
27:54
And it's, as you said, it's a great way to get access to more volume buyers agents, etc.
27:57
Any recommendations on, you know, or just personal stories on how you've been successful
28:02
and getting to work with teams?
28:04
Yeah, I think a lot of it too is, you know, a lot of people don't want to focus on
28:09
listing agents.
28:10
Oh, I'm not going to waste my time with them.
28:12
And they're, that's where they go wrong because if you go into it with that kind of attitude,
28:17
you're going to get that kind of, you know, negative attitude, negative result.
28:21
And so I've kind of taken the opposite effect where everyone focused on buyers agents.
28:25
I started focusing on listing agents and building those relationships because, you know, it's
28:31
also personality, right?
28:33
It's like who you mesh well with.
28:36
I have been so lucky and blessed that, you know, a lot of the agents that are, that
28:40
aren't happening to be listing agents, they've also become mostly like my friend.
28:44
I've really built a relationship with them first.
28:47
And in some cases, I didn't even ask for business.
28:49
It was just kind of like, hey, by the way, I have this deal.
28:52
And, you know, and then it turns into this, you know, hey, now we're working together.
28:57
And, you know, that's where I found really strongest relationships is that some of these
29:01
people I go out to dinner with, I tell them I eat the secrets and we're like really good
29:06
friends, you know what I mean?
29:08
Let's pause there for a second because some people are listening.
29:12
And I love that.
29:13
By the way, I agree.
29:14
I think there's a mindset problem with a lot of officers who have challenges with real
29:17
estate agents.
29:18
You know, you've seen those posts, some sure on social media on the groups and everybody's
29:21
bag and on realtors and all that.
29:22
And look at it, I get it, right?
29:23
There's bad realtors out there.
29:25
But I mean, there's also good realtors.
29:27
So, you know, you mentioned dinner and all that stuff.
29:30
How do you, quote, become friends, right?
29:33
How do you get that listing agent?
29:36
Is there, you know, what are you calling the listing agent saying, hey, let's go to dinner?
29:39
I mean, you know, how do you get to the table first?
29:41
Well, it's just the environment.
29:42
I, you know, sometimes I'll be placed in situations where, with that, like it could be in a network
29:46
of the event or it could be, you know, just some place and where everyone was a little
29:52
different, you know?
29:53
And so, but normally what I would do is, you know, I would get to know them and they
29:57
would get to know me.
29:59
And it would be more of, you know, me and, and I feel like some people attract to other
30:04
people.
30:05
You know, I think the people that I tend to have truth, there's a reason for that.
30:09
There's some kind of connection there that I feel like we could work well together or
30:13
we have a lot of similarities.
30:15
And so, it becomes very natural and it's a really genuine thing, you know, because I feel
30:20
like a lot of realtors could read through that when people are just, you know, be acting
30:25
as your friend.
30:26
Where with me, I really do care about these agents and they are not just realtors and
30:31
they're not just annoying realtors that, oh my God, can I, they're calling me at 10
30:34
o'clock at night tonight, you know, like I don't look at it that way.
30:37
It's more of, oh my God, they're calling me, let me take this call.
30:40
Like I'm sure that it's important or in them sure they need me for something.
30:44
And, you know, you want to help where it doesn't feel forced and it's not like you're
30:48
feeling like you almost have to do it.
30:50
You want to do it.
30:52
Well, so what I heard there is that, you know, you meet at listing agents out and
30:56
about, you know, at various events or functions, networking, number one, less
30:59
than take away from that listeners is she's active in the local community amongst
31:04
real estate agents, you know, I mean, I don't know where you're going board meetings
31:07
or broker-previewed tour, caravan, all that stuff, holiday networking parties, all
31:12
that kind of jazz, but I've always said that is like you got to go where the fish are,
31:15
you know, get in that pond, so you can't succeed with agents hiding behind your
31:19
computer and just like instant messaging people all day.
31:22
That's right.
31:23
Okay, so you're out and about your networking.
31:26
Do you do, though?
31:27
I'm curious if you also do any targeting of teams, as we all know, there's certain teams
31:32
that are kind of visible in the local community where we're at and do you approach it from
31:37
that, you know, kind of sniper mentality, if you were, we were like, hey, man, here's
31:40
like three teams I want to go after and you like craft this strategy or is it more
31:44
just our work?
31:46
I'm embarrassed to say no.
31:47
I mean, when I have done that, I've shaled miserably because it didn't come across, you know,
31:54
it's very business-y, it was very like, hey, you know, how long are you going to work
31:58
with you?
31:59
And I don't know why that I haven't gotten success from that very much.
32:02
It's been more of when I meet someone and it's kind of off the cuff and it's just kind
32:06
of like, hey, you know, we're working with other real estate agents to other real estate
32:11
agents because within the company, by doing business, you get business.
32:15
And so when people start hearing your name and, you know, how did you get this deal done?
32:20
And who's, you know, oh, you got to work with Kathy.
32:22
And that's been my biggest success is, you know, word of mouth.
32:28
Other realtors talking about their experiences with me and that their loyalty to me helps
32:33
me get other people because they're like, man, this person is so loyal to her.
32:37
Like, what is she doing that, you know, because a lot of realtors are not loyal.
32:41
And so I feel like that's what helped me is having other real estate agents talk about
32:46
their experiences.
32:47
And I will openly ask them to do that in some cases.
32:50
Well, I'll say, can you please spread the word, let them, let people know about your experiences.
32:54
That will be great for me to help grow my business.
32:57
And when agents are now coming to you at, you know, asking you questions about what you
33:02
do and how you do, that becomes, you know, just such a great way to grow your business.
33:09
What do you do then to, and again, you know, you've been at this in your market for a while.
33:13
So you already haven't established name, but I know you're smarter than that.
33:16
You don't ever, you know, stop promoting.
33:18
No, no.
33:19
What do you do to stay present in top of mind amongst your local realtors, perhaps in a group
33:26
fashion?
33:27
Because I know you do the, obviously get your agents one-on-one coffees and all that.
33:30
But how do you like build the Kathy Hadad brand?
33:33
So I will do, you know, different functions.
33:36
It could be, you know, if somebody wants me to host a broker's open, I'll definitely
33:41
help with that or social media is a huge one for me.
33:44
Where now I've had this, you know, large amount of audience, which a lot of them happens
33:50
to be realtors and that's what I target.
33:52
That's what I really try to friend on my request and things that focus on real estate.
33:57
And so from there, that presence really grows because I feel like I'm hope that my message
34:02
that I put out is a good one and now people have wanted to and they want to go to my page
34:07
because they feel like there's some added value there of information or whatever it is
34:11
that I'm presenting.
34:13
And then, you know, different things.
34:14
Lunch and Learns, we work with a lot of different real estate companies where we have like a marketing
34:20
sales agreement where we are able to go into their offices and sponsor different events.
34:25
It could be a lunch and learn.
34:27
It could be, you know, when they're doing like a pizza night or whatever it is and just
34:33
continuing to go to different happy hours and whatever I can get my hands on or understand
34:39
or know that it's out there, I really try to make myself, you know, take that step and
34:44
get out there and, you know, meet with these agents.
34:47
Yeah, you can't be a secret loan officer.
34:50
That's right.
34:52
So you mentioned social media and friending agents on Facebook.
34:56
Are you friending people you don't know, agents you don't know?
34:59
Yeah, absolutely.
35:01
And take me to, how does that kind of evolve?
35:05
Well, it kind of goes into people you may know or what I'll do is sometimes I'll look at
35:09
rosters from different real estate companies or just word of mouth and it's like, oh, you
35:15
know, I heard this realtor today and, you know, let me have them as a friend and, you
35:19
know, just to kind of get engaged with them and learn more about them and I may learn
35:24
more about me and how do you move that to a conversation?
35:29
So sometimes what ends up happening is, you know, it just becomes a natural kind of thing
35:33
where I may say a comment that caught their interest.
35:37
It could be something where I post a lot of situations where deals got turned down and
35:42
we were able to save the deal and close it in two weeks.
35:44
So a lot of people get really curious about that.
35:47
Had you do that?
35:48
What was it?
35:49
You know, like, do you have a secret weapon that I don't know about or some, you know,
35:53
what is it?
35:54
That usually gets the conversation going and right there, they, they, we've kind of
35:59
established something to get the line of communication going or it could just be, you
36:03
know, I comment on their stuff a lot, you know, because I do focus a lot of time on
36:07
engaging with other agents and really like learning about them and really being happy
36:12
for them when they post, you know, their kids second birthday or, you know, they went
36:15
to the Yankees game and they really loved the Yankees and, you know, it's really just
36:19
building that relationship on the very relationship building type of person.
36:23
Well, they should have gone to a Red Sox game, but we'll leave that for a minute.
36:26
I don't know.
36:27
I don't know.
36:28
I don't know.
36:29
I'm not going to see that one.
36:31
Yeah, that one.
36:32
Yeah, that one.
36:33
Yeah, that one.
36:34
Yeah, that one.
36:35
Yeah, that one.
36:36
Yeah, that one.
36:37
Yeah, that one.
36:38
Yeah, that one.
36:39
Yeah, that one.
36:40
Yeah, that one.
36:41
Yeah, that one.
36:42
Yeah, that one.
36:43
Yeah, that one.
36:44
Yeah, that one.
36:45
Yeah, that one.
36:46
Yeah.
36:47
And then something else.
36:48
I'm not.
36:49
I don't have the audio on.
36:50
So, I can't see what it says.
36:51
But what's actually, I actually use a number of here of rental loans.
36:54
That's really cool.
36:56
But some of these videos are getting.
36:57
Let me see here.
36:58
877 views.
37:00
And what I notice is one of these real terms in particular, Christopher Chinn, is actually
37:04
posting it to a real estate page.
37:07
I don't know if that's his brokerage page or whatnot.
37:11
But what that tells me, like, this guy left a comment on your video.
37:14
Awesome video.
37:15
Thanks for bringing an incredible value.
37:16
What this tells me is that goes back to the point about education and being an expert.
37:22
And providing good quality content, that's what people will share is good quality content.
37:28
Absolutely.
37:29
I mean, one other video I did recently was about credit and it was just, you know, to whether
37:35
they're buying a house or not, everyone wants to know about credit.
37:38
And so that one, you know, I got almost 1.5 thousand views and, you know, the shares is
37:44
what I also care about is that, you know, you get a good amount of people sharing your
37:47
content.
37:48
It shows that it's really valuable and they want to put it out there and that's what I really
37:53
try to focus my time on in social media and also letting people get to know me on a personal
37:57
level too.
37:58
Right, right.
37:59
I post things about my family and my experiences and what are you going to do on a daily basis?
38:04
I'm, I'm curious, when you feel it's, it's appropriate.
38:07
Let's just follow this Facebook thread for a moment when people are engaging or commenting
38:11
and stuff like that.
38:13
Where's that fine line of like, you know, how do you move the online to offline and maybe
38:17
go for that coffee meeting or whatever?
38:19
Any suggestions or thoughts when you feel it's right to do that or is it more just like
38:24
a gut feeling?
38:25
Yeah, kind of a gut and just kind of feeling like, you know, this person has been liking
38:29
a lot of my photos or this person is commenting along with it, you know, just, you know, tracking
38:35
that kind of stuff and then just going for it, you know, asking in a nice way of just
38:40
let's meet up.
38:42
And would you ask, really, I'm just, I'd like to get in the detail sometime.
38:45
Would you ask the, you know, you're already on Facebook, you're exchanging comments and
38:49
all that stuff.
38:50
We just hit them with a Facebook message earlier, hey, we should get together and chat sometime
38:53
versus call.
38:54
Yeah, sometime I'll do, I'll do both most of the time.
38:58
Usually I'll send them a message, you know, if they don't respond, I'll call them because
39:01
a lot of people check their Facebook messages and sometimes it goes to like this other
39:06
part where they have to sign off on it.
39:08
And so, I usually go give them a call and just, you know, just say, hey, how you doing?
39:15
What's going on?
39:16
Kathy, what's going on?
39:17
I wanted to, you know, meet up with you and maybe we can have a lunch or something and
39:21
coffee or talk about, you know, whatever, get to know each other, how can I help you,
39:26
you know?
39:27
Is there anybody?
39:29
Yeah, is there anybody you're pursuing right now that or in the past where, you know, it
39:35
didn't lead to that, they turned you down or whatever.
39:38
Oh, yeah, rejection is all the time, you know, like, then I think about it, I'm like,
39:43
how dare them?
39:44
I'm just saying, no, it happens, you know, there are agents that don't want to work with
39:49
me because I work with certain agents, you know, there are agents that, you know, want
39:54
to have their one person, they don't want that person to work with other people.
39:58
You know, there's weird things out there, there's weird situations that happen, you know,
40:02
and it's just par for the course, it's part of sales rejection, just taking rejection
40:09
and moving on, not dwelling on it, not, you know, trying to, you know, let it diminish
40:16
my insecurities and make me not confident, I just keep it moving, I just move on to what
40:21
is working, talking to people that want to talk to me, you know, working with people
40:26
that want to work with me and really working so hard at maintaining the existing relationships.
40:33
Lot of loan officers forget about that, they're so focused on getting the next person that
40:38
they forget about their existing relationships and then that's where they fall really short
40:44
where I focus on my existing just as much, it's not more, I would say, more than trying
40:50
to chase the next person.
40:53
And what do you do specifically to maintain those relationships and build a fence around
40:56
them and protect them from competitors?
40:59
You know, having a genuine relationship with them, like going to dinners, going to their
41:04
team meetings, you know, and helping them reach them out to them, making sure that they
41:09
will be available for their phone call, always delivering for them and exceeding their
41:14
expectations at all times.
41:16
And listen, we're not perfect, I have definitely made mistakes, so it's how you hand
41:20
all those mistakes sometimes with those agencies, really critical.
41:24
Like we're not perfect, sometimes, you know, it's not so much the mistake, it's how
41:29
you address the mistake and going forward and fix it and be a problem solver.
41:34
You know, and not hide from your mistakes where, you know, people try to focus so much
41:38
on, you know, ignoring it and hope that it goes away where I, on the type of person,
41:43
I address it right away, now my stomach is killing me, I'm like sweating in that moment,
41:49
you know what, I put all that aside and I know that I have to figure this out, I have
41:53
to be the problem solver and address the situation and make sure it doesn't happen again or,
41:58
you know, go about that.
41:59
And that's really how you maintain those relationships, just delivering, right, for those
42:04
realtors and just not letting them down.
42:07
They really depend on you to give their clients an extraordinary experience and not them having
42:14
to worry about what's going on with this loan.
42:16
And they have so many other things to worry about that with me, they always say, I don't
42:20
have to worry about the loan and you know what, to me, that's everything, that's peace
42:24
of mind.
42:25
Well, that's job number one, right, I mean, if you pull realtors, right, what are they
42:30
looking for from a loan officer, that's the number one thing, do what you say you're
42:33
going to do.
42:34
That's right.
42:35
100%.
42:36
Yeah, and you know, it's funny that I've got to give you a little props here because
42:39
I'm on your Facebook page, you've got this wonderful testimonial from a realtor where
42:44
she's like all caps.
42:45
Thank God for Kathy Hadad.
42:48
This is really a lesson though.
42:49
I won't read the whole thing because it's like awesome lengthy, but she says this month
42:54
alone, you save two transactions from completely imploding.
42:57
Another bank didn't do their due diligence upfront a week after expected closing.
43:02
They said they needed additional three items, Kathy stepped in, closed the deal in five
43:05
days, saved the homeowner 2%, 2% on their interest rate.
43:10
Yeah.
43:12
That's enormous.
43:13
Oh, my God.
43:16
And then here's her second point of this is she had another transaction.
43:21
She calls you a beast.
43:22
I love it.
43:23
She's like, I called in the big guns, Kathy had out because I know she's a beast and she
43:28
doesn't miss a beat.
43:29
Sure enough, what you found out is that the client had child support alimony that were
43:34
not included in their former pre approval, which saved the day, got the deal done, got
43:39
the client in the house.
43:41
Big headline there.
43:43
Do your homework.
43:44
Right?
43:45
Dig in.
43:46
Oh, and knowing your guidelines and knowing how to structure deals, oh man, when I tell
43:55
you that my focus is sales and structuring in knowledge, like that's my main focus every
44:02
single day.
44:03
Yeah, I mean, there's no loyalty question with that realtor, right?
44:07
You own her.
44:08
Yeah.
44:09
I mean, that's what it is.
44:10
That's how you build loyalty is like coming through for them and not, you know, not letting
44:15
them down and listen, we're only going to make mistakes.
44:17
Like there are a few situations where I dropped the ball and I'm so upset about it, you
44:22
know, but I was able to get past and figure it out and do what I got to do, you know?
44:27
All right.
44:28
That's a great, great thing to maybe touch on briefly drop the ball.
44:32
Have you had that situation where the agent calls up with their hair on fire and just screaming
44:37
into the phone?
44:38
No, I've never had it that bad because I really try to make sure that I'm going, yeah,
44:46
and not only that, I mean, I have a great team, myself and my team, like we take a lot of
44:50
pride in our work and we really do our due diligence with best we can.
44:54
But I've had situations where something did go wrong and luckily, I mean, I've never
44:58
had a realtor scream at me or I've had customers now, let's talk about customers where they
45:05
have come back and, you know, just had a bad day and their pressure is on and, you know,
45:10
we asked them for a bank statement and they're going, I really gave this to you and we're
45:15
trying to explain to them, it doesn't have the URL, you know, and they are basically screaming
45:20
at you, like I already packed my back boxes and so, you know, it's really turning that
45:25
around into a positive situation and then you do the best you can.
45:29
Sometimes you don't, sometimes you do.
45:31
Normally, that's the kinds of things that I make sure I'm 100% involved in and I make
45:36
sure I'm so involved in my transactions.
45:39
I'm not one of these top producers that take the deal and then forget about it and let
45:45
my up-bath work on it.
45:47
No, I'm on top of it.
45:48
Pipeline review is huge for me, like I'm always on top of that.
45:52
You know, where every single transaction is, what's going on with this, so whenever
45:56
this calls me, they know what's going on and so, being that installed helps a lot of
46:01
the times when you are problem-solving or you're putting out a fire because you know
46:05
so much about it and then they feel at ease that you're not like just calling them and
46:10
you're completely not in the loop, that makes them more stressed out, so when you start
46:14
really talking facts with them and you explain to them, well, this is what happened and
46:17
this is why, you know, and just give them a different perspective in some cases, they
46:22
really calm down and a lot of the time, you know, they are just, they're back to being
46:27
okay, I get it.
46:28
Sorry about that, I'm just having a really stressful day, you know, this happened, that
46:31
happened and I say, no problem, I get it, don't worry about it, don't even apologize.
46:35
How often do you have pipeline review meetings with your team?
46:40
Every week, every Tuesday is when I have my pipeline, but for the most part, the way I
46:44
keep up is like, I'm on top of emails and see what's coming in, like what happened
46:49
here and what happened there and believe it or not, I don't know, you know, yes, exactly
46:53
or just the processor, they copy me on every email, so you can only imagine what my email
46:58
looks like, but it's important for me to know, like when they do an update on documents
47:03
or if there's a problem, like the staff knows what I need to know about, where they need
47:09
to get me involved, when they can handle it, what things not to handle that I need to,
47:15
you know, so we really, it's all about just working together as a team and really understanding
47:21
the way I work, the way they work and what works well for everyone and what's important
47:25
at the end of the day, which is the customer.
47:27
Right on.
47:28
Okay, cool, so here we are, October, end of Q4, basically we're entering, 2018 is coming
47:36
to a close shortly, crazy how fast that's coming, what are you doing?
47:42
Any plans you're making for 2019, changes to your business enhancements or, you know,
47:47
getting rid of things, how are you prepping for the new year?
47:50
Yeah, so typically this is a very stressful time of year for me because I go back and I
47:55
reflect on, you know, what the year was like, what I need to do going forward and, you
47:59
know, it's like, man, January 1st, back to zero, and so I really focus on, you know, where
48:06
my business coming, I track it every month, every week actually, I get a report of what's
48:12
been closing.
48:14
And then every month I do like, every quarter is where I really focus on, when am I getting
48:19
my business compared to last year, where has there been a decline, where has there been
48:25
an increase, where can I be doing more, you know, and looking at the different real estate
48:33
offices that I can be focused on or grow, and, you know, that's basically what I try
48:38
to focus on.
48:39
And then, you know, one of the things I'm really focusing on now is just getting ahead
48:44
of technology.
48:45
And so the company, our wonderful CEO of Atlantic Home Loans has been really focused for the
48:53
last two years of really trying to figure out and implement new ways of technology with
48:59
keeping the human element and keeping loan officers alive.
49:03
And so that has been really been my focus, just trying to be in on those focus meetings
49:10
and stay on top of what competitors are doing, what can I be doing better differently
49:16
because just because what I have is working doesn't necessarily mean that there isn't a
49:20
better way.
49:21
So I'm always trying to grow that way.
49:23
Are there any particular strategies you plan on implementing or doubling down on, you
49:27
know, could be video, could be something else, technology wise?
49:30
Yeah, so I mean, really just trying to figure out a way to have borrowers, it's really just
49:35
the technology part of it, like the application process, trying to really find ways for clients
49:41
to have a really streamlined way of feeling out an application, maybe even running their
49:46
own credit, uploading their documents, but then it stops there.
49:51
And then I still have to review the documents because that's where a lot of the big technology
49:56
companies are going wrong is that it goes right to an underwriter and once an underwriter
50:01
sees everything, it's too late, your deal is done, like this is where the human element
50:06
stays there.
50:07
And so that's kind of where my focus has been trying to just find ways to implement that
50:14
and just income calculation software, you know, that's also been a big focus because
50:19
my team they focused so much on calculating income, even though we're still known to be
50:24
very fast, we turn around pre-approvals in an hour or whatever it is, it still would
50:29
be nice to have that piece of that technology so that we can also focus on other things,
50:37
you know, that we need to do to continue to grow my business.
50:41
Do you have written goals or have a business plan that you actually, you know, kind of
50:45
map out?
50:46
Absolutely, I mean, that, you know, believe it or not, I was always the one that was
50:51
like, oh man, yes, like somebody writing their goals, like I have them in my head, you
50:57
know.
50:58
And then I transitioned five years ago, I actually started writing down my goals, but
51:03
not only writing down my goals, figuring out how to get to that goal, how many leads do
51:08
I need to get to convert to the closes deal, you know, like I actually started backing
51:13
into the numbers.
51:14
And when somebody told me that, that's when I finally, a light bulb here, I was like,
51:18
wow, you know what, they're right.
51:20
So that's what I did.
51:22
And so, you know, I have this whole way of how I back into everything and it tells me
51:28
how many people do I need to process, how many, you know, realtors do I need to engage
51:32
or how many deals do I need to close.
51:34
And I have a pretty good science of my conversion, right?
51:38
Just because when we run the reports, I see what goes in and then what doesn't quote.
51:42
And so I keep that in mind and it's a lot of work, you know, and that's where I use
51:47
my team and myself and making sure that I'm on top of this stuff because it's really
51:52
critically important.
51:53
You can't grow without knowing this information.
51:56
Yeah.
51:57
I always use the old cliche of like if you're flying from New York to LA, you know, you
52:01
better have some instruments along the way to, you know, to no one else in your head.
52:07
Is there a particular resource you use to, you know, build out that plan?
52:10
Just curious because people, you know, want to know.
52:12
Not really, it's just mostly just, you know, pulling the reports, you know, and seeing
52:17
what they are and then really coming down from just experience of how many deals it takes
52:23
to my conversion, just for my, you know, running those reports to see what is my conversion
52:27
and mimicking that.
52:29
And then that's how I kind of figure it out.
52:31
And, you know, it's funny because everybody wants to grow and do more every single year.
52:38
And I was also in that camp.
52:40
But now I'm in a different place.
52:41
I have two beautiful children and, you know, I reached a hundred million, a hundred and
52:47
twenty nine.
52:48
I was so excited and I wanted to get to 150 million and it was like, this is what I'm
52:51
going to do.
52:52
And I really, you know, would love to do that.
52:55
But my goal, they're a little different now.
52:57
It's more of my growth is, you know, finding balance in my life and doing, you know, at
53:02
least a hundred millions, maintaining that is so hard.
53:06
But thank God I've been able to do that for the last past five years and I hope to continue
53:10
that.
53:11
And finding different ways of just, you know, making my process always improving my process.
53:19
And that's really been my goal, mostly, you know, constant and never-ending improvement.
53:25
Exactly.
53:26
Love it.
53:28
Well, speaking of that, I know you're busy and you've got to go.
53:32
And so I do very much appreciate you sharing your experience and learning lessons with our
53:36
listeners today.
53:37
Thank you.
53:38
I appreciate you having me.
53:39
Thank you so much.
53:40
This has been wonderful.
53:41
I'm great to just kind of talk about your experiences and it just really makes you realize
53:46
how much you've accomplished and how there's such an amazing source of opportunity out
53:51
there for everyone.
53:52
Well, you've accomplished a hell of a lot and for anybody who wants to, you know, kind
53:55
of follow you online or whatever, what would you say the best place for them to connect
53:58
with you would be?
53:59
Yeah, they could go to Facebook.
54:01
They want to feel free to, you know, Kathy had that.
54:05
Yeah, the H-A-T-A-T-A-D-D-A-D.
54:07
All right.
54:08
Yeah, we'll put a link to that in the show notes.
54:09
So once again, thank you to you being here and listeners, as always, appreciate you
54:13
being here if you like this episode.
54:15
Let us know.
54:16
Leave us a little love out on the interwebs, wherever you're listening to this podcast.
54:19
And we'll see you on the next one.
54:22
Bye for now.
54:24
Thanks for listening to Mortgage Marketing Radio.
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For more truth in Mortgage Marketing, get more free training and resources at MortgageMarketingInstitute.com.
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