Latest / Mortgage Marketing Radio / Ep #25: The One Thing Every Successful Business Has in Common

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Ep #25: The One Thing Every Successful Business Has in Common · Mortgage Marketing Radio

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In today's highly competitive mortgage industry, building profitable relationships with
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the real estate agents is essential for success.
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However, finding effective ways to secure agent relationships can be a challenge.
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With so many mortgage loan originators vying for the attention of real estate agents, it
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can be difficult to stand out and establish meaningful connections.
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Our new case study featuring loan officer Chris Cogill is a must-read.
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Chris has closed a remarkable 36 million in funded loans from agent referrals.
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And in this case study, he shares his proven strategies for building strong relationships
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with real estate agents and leveraging those relationships to drive more business.
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To get your hands on this resource, head over to LOKestudy.com and download your free copy
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of the case study today.
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You'll find actionable insights and practical tips that Chris used to close 36 million
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in funded loans from agent referrals and how you can too.
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Don't miss out.
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Go check it out right now, visit LOKestudy.com and download your free copy today.
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Hey, loyal listeners, Jeff Zimper, welcome to Episode 25 of Mortgage Marketing Radio.
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Wow, 25 episodes.
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Hey, if you've been with me for some time, I want to thank you for listening.
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If you're liking what you're hearing on the podcasts, would you do me a favor?
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Take a moment and just cruise on over to iTunes and leave us a review, download episodes
1:57
on Stitcher if you're on an Android.
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Maybe leave a comment here if you're listening on the blog.
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But just I'd love to get your feedback on how you're liking these podcasts so far in
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any upcoming special guests or requests that you might have.
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So this week, it's a little bit different.
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It's just you and me.
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We're getting personal here.
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And what are we talking about?
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We're talking about the number one thing that all successful businesses have in place.
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You want to know what it is?
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It's this.
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It's a predictable sales system.
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That's right.
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A predictable sales system that provides for you a level of certainty for your business,
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for your income.
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A level of peace of mind because you're not stuck on the treadmill.
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You're not on the roller coaster of loan production and hey, where's my next deal coming
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from?
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A predictable system is, if you look at an analyzed businesses and I've done this through
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a variety of different methods, one of the best is if you haven't read yet, I suggest
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you check out the series of the e-nith books by Michael Gerber and we'll actually come
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back to him a little bit later in today's podcast, but every successful business that
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has sustainability longevity has a predictable sales system.
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Because unless you have a predictable system, you fall short of your production and income
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goals.
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Why?
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Because if you want to grow your income, and by the way, if you're listening right now,
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let me ask you that question.
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Do you want to grow your income?
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Now if we were in a room and you know, I'd say, hey, how many here want to make more money?
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Raise your hand.
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Yeah.
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Great.
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A lot of people want to make more money, right?
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But a lot of people want to lose weight, too.
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They want to quit smoking, right?
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They want to be a better spouse, want to be a better parent.
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But what most people miss and lack in getting to that goal is a predictable system or series
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of habits of patterns or behaviors that are going to allow them to change the current
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state to get to the future state.
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Does this making sense?
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Great.
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If you want to grow your income, right, by whatever it is, 10k, 50k, 100k, it doesn't happen
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by accident, right?
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And in the mortgage business, basically you grow your loan volume by three ways.
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That's simple.
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Three ways to grow your business, right?
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One, close more new loans, right?
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These are new clients versus past clients.
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That'd be number one.
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Simply close more loans.
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Number two, close more repeat loans.
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So past clients, right?
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And then lastly is increase your average loan amount.
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So do higher average loan amounts, increase your average size, commission and bonus.
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Does this make sense?
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Great.
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So notice when talking about a system, I'm emphasizing predictable a lot, right?
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And there's a reason.
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And that's because to predict the future of your sales, you've got to have some kind
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of repeatable system in place so you can measure the results.
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Because if your system for generating businesses completely random and not consistent, well,
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there's no way you can actually analyze the data, look at the past performance to gauge
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future results.
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And this is what we're talking about is achieving predictability in your business.
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So you can have that level of certainty of monthly production, annual income goals.
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Are you with me?
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So let's break this down.
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Let's take a look at the numbers.
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If you're able to generate, let's say, just five new loan referrals every single week.
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So that's in addition to your current quantity of referrals in business.
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So this is five brand new loan referrals per week.
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And let's say your closing ratio is 20%.
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So of five new referrals per week, you're closing 20% of them into actual closed funded loans.
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So what's the quick math on that, right?
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Five referrals per week times four weeks equals 20 referrals per month.
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Twenty referrals per month times 12 months, right, is 240 referrals per year.
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Like a 20% closed rate or conversion rate on that and that equals 48 additional loans
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per year or four additional loans per month.
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So all this breaks out to those five extra referrals per week nets you for additional
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closed loans per month.
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So if you close just an additional four loans per month, what would that mean to you in
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additional monthly income?
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I mean, if we average the commission you're going to make on those four loans, let's say
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it's $4,000.
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So an extra $4,000 off those four loans per month, that's an extra $48,000 per year.
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Now you're probably making more than $1,000 per loan.
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So $1,000 per loan is quite conservative, I think.
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So let's play with the numbers a little bit and this gets pretty exciting.
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So if you're averaging let's say $1,500 per loan, that's an extra six grand each month
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or an additional $72,000 a year in your income.
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Now if you're listening right now and I offered you a raise of $72,000 per year, would
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you want it?
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Would you take it?
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Yeah, that's a pretty good jump, right, to your income.
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Not many places you can go and get an immediate bump in your salary from which you're currently
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making to an extra $72,000 per year, right?
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Now you're closing ratio, remember, you were using a 20% close ratio on those extra four
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loans per month.
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So but you're closing ratios, I'm guessing probably better than that.
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So let's extrapolate this out a little bit further.
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Let's really get excited about this.
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Let's double the closing ratio, remember we haven't changed the amount of loans, right?
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It's still 20 referrals per week and so now let's double the closing ratio from 20% to
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40%.
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So 240 referrals per year times a 40% close rate, that equals 96 additional loans per year
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or 8 additional loans per month.
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If you're making 1500 per loan times 8 additional loans, that's $12,000 or $144,000 extra
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per year.
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So you can see how the math adds up real quick, right?
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And this is again, right, just taking some, I think are pretty conservative conversion
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numbers in closing referrals.
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So we looked at 20%, we looked at 40%.
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So at 1500 per loan to grow your income by 72,000, all you need to do is close an additional
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four loans per month with just a 20% conversion ratio.
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Does that seem doable to you?
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So knowing your numbers, here's where the numbers become really important.
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This is why it's very important to know what your numbers are, meaning how many loans
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earn your pipeline every month, what's the source of those, what your closing conversion
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ratios on those, because once you know your numbers, you can predict the future.
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And you can identify the areas of your sales process, your sales system, right, of making
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slight adjustments to that, you can then begin to see what the future looks like for you
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in terms of production and income.
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But the problem is most of the loan officers who contact me do so because they do not have
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a predictable sales system in place.
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And what's the main bottleneck for them?
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They don't know how to get qualified referrals on a consistent basis.
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They make phone calls, they fire off random emails, they go on meetings with agents who
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never convert and they travel around trying to get into offices, get agent meetings, attend
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networking events, they're frustrated and they're tired.
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Can you relate?
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Yeah.
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Ultimately they can't get the meetings and appointments and referrals that they need.
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Here's the thing, in talking about getting referrals, normally we think about real estate
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agents and that's definitely still a prime source of business.
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It's what I refer to in my book, instant referrals from mortgage professionals.
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It's what I call an oil well.
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An oil well is something that once discovered and tapped, it continues to produce an ongoing
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source of business and referrals for you.
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That's what a real estate agent is if done correctly.
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So the problem that is not that getting referrals from agents doesn't work, it works.
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We know it works, it's worked for decades.
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The problem is when a loan officer has a random or unpredictable process for attracting,
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capturing, converting real estate agents to referral partners, when it's completely
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random, there's no consistency.
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So naturally you can't achieve any predictability in your income if your actions are completely
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random.
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Does this make sense?
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So Michael Gerber, have you read the series of books called The Emeth Why Most Small
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Businesses Fail and what to do about it?
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If you haven't, I suggest you check it out, especially the book in particular The Emeth
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Revisited.
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So if you haven't read that, check it out, download it, Kindle it, whatever you need to do,
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get the audio book, some phenomenal lessons in there from Michael Gerber.
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And Michael Gerber, by the way, has studied tens of thousands of businesses.
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I actually did a little bit of Michael Gerber work with Michael back in the day in the
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seminar business and got a chance to have lunch with him a number of times and pick his
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brain a little bit.
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And it's interesting, Michael, if you read the book or get a chance to attend any of his
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events, watch some of his stuff on YouTube or whatnot, Michael says that a business has
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three core functions.
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And these core functions are this, lead generation, lead conversion, and client fulfillment.
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So whether the business is McDonald's or Starbucks or FedEx or the brand called you,
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by the way, the brand called you, you are a business within a business as a loan officer.
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So the three systems that are critical to the success of any company is client attraction,
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client conversion, and client fulfillment, three key things.
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And so what he's talking about there is the system is the solution.
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So you think about any successful company that's had longevity and great successes, they
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have a system.
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System McDonald's, they've got a system for attracting you, for getting you in the restaurant
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for upselling your Starbucks, the same FedEx, the same, they all have a system.
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How many of you know this to be true, say yes, great.
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So the system can be the difference between success and failure in your business.
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The system can be the difference between having fun and enjoying your business or struggling,
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barely eating out of living and just getting completely frustrated, worn out, tired, and questioning
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your decision.
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And I know this to be very true for myself because when I started as a loan officer at
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country ride back in 2003, I actually had spent some time at a small brokerage shop that
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bought leads, internet leads, it was a sub-prime shop, and that was a whole different experience.
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So bottom line is I switched out of there and went over to country ride in 2003.
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So my story was, hey, I started a country ride, I got my business cards and I was excited
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to get started.
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I was like, yeah, I finally had a big company, big name, I can stand behind and I'm just
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going to set the world on fire, right?
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I was ignorance on fire as a matter of fact.
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And my training program, maybe you can relate to this, my training program consisted of, hey,
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here's your business cards, good luck, hit the bricks pal, go originate some loans.
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And you relate, was that similar to your training program?
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Yeah, I had no system, very had no system.
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So what did I do?
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I tried to be everywhere, right, chasing down agents, chasing deals, having zero predictability
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in my production and income, having zero process, right, it didn't go well.
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I was brand new, I had virtually no agent relationships and after a year I had little
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success to show for it.
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And so if you can picture this, right, here I am and maybe you've been here at one time
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or another in your life, all the pressure is on me for the income for making the money.
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My wife said home with our newborn son, we had expenses piling up, you know, a mortgage,
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brand new baby, car payments, food, you know, the usual deal, right?
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And so we had to take out a HELOC on our house to cover our expenses and real quickly became
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very stressful.
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And you know, one day I just woke up and I realized that I've got to make a change.
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I mean, I had to change something fast.
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My current process, if you could call it one, which was basically playing whack a mole,
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trying to hammer down everything that popped up on my radar, I had to change my process.
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And I realized I just said to myself, literally one day I said, I, if I'm going to get referrals
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from real estate agents, because that is definitely a core pillar of my business.
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If I've got to get referrals from real estate agents, I have to get in front of as many
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agents as possible as quickly as I can to build my referral base of real estate agents.
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So I decided to try something I hadn't tried yet.
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I decided to host a class for real estate agents.
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Now mind you, I had a lot of experience in doing seminars, workshops, teaching classes.
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As you may or may not know, right?
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I started my career basically in sales 25 years ago, working for Tony Robbins, doing 90
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minute workshops across the country in front of all kinds of different salespeople flying
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into a city and living in that city for two months at a time.
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And I would every single day go out and present right two or three times a day through offices
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of real estate, auto dealers, insurance, financial planners, network marketing, you know, you
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name it.
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And so one of the things I discovered was there's a certain, there's what's called the
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law of large numbers where if you're looking to, quote, fill a room, if you're looking
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to get in front of the mass, the, the maximum amount of people in minimum time, well, can
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you get there more quickly by doing it in group versus one on one?
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Answer obvious?
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Yes.
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So I decided to host a class for agents.
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Now, some of you listening may say, hey, hosting classes for agents isn't that groundbreaking
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Jeff?
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And I agree it's not.
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And no one in my office or my area was teaching agent classes for me to learn from.
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And so remember, I started as a loan officer with no experience, no training program,
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no nothing.
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So what am I trying to do?
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I'm trying to look around and see, hey, what are other successful loan officers doing?
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And by and large, they were pretty much were doing the same thing.
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Of course, you know, some loan officers, you know, had a specialty in the teachers loans
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back then.
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And then others had special niche programs that they were working back when we had niche
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programs, right?
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And so they were kind of doing their own unique things or they'd already been in the business
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15, 20 years and they had a great database that they were working or it already spent
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10 years building up their agent relationships.
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Well, I didn't have 10 years.
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I had a baby in a home equity line of credit at home.
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I needed to make it, make sure it happened fast, you know?
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So it just dawned on me one day, I said, well, okay, I've been doing the open houses,
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the broker previews, the coal colony, the usual stuff.
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And I said, well, what if I hosted an agent, a class for agents and try and make an impact
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that way, right?
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I'm looking to make a big splash in my area because I wanted to become what?
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Well, known, right?
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I wanted to become known in my little circle of agents and become the go to lender.
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And I wanted to do it quickly.
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So I hosted my first agent class and I had a guest speaker, his name is Walter Stanford.
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He was a very successful agent in my area in Long Beach, California and he was a successful
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agent turned coach.
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So this guy when I see a successful agent, he was a phenomenally successful agent.
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He sold a house a day every day for almost 16 years straight.
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And so he became very sought after as a trainer speaker coach.
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He just happened to live an hour from me, right?
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So I invited Walter in, we worked out a deal, I hosted my first class.
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We had about 30 agents at this class.
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And he wanted to know what's great about teaching agent classes.
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All of a sudden, there's a reversal of power, right?
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You are now in the power position.
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You've positioned yourself as a go-giver versus a go-taker.
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You're not asking for loans, you're not chasing agents down, right?
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You're not pandering, you're not talking about rates and things like that and how fast
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we close and 10 day close and things like that, which is all fine and dandy.
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There's something magical actually that happens when you're in front of the room and
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you're hosting and or teaching an agent class.
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It's what I call reverse prospecting.
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So first of all, number one, instead of you chasing agents, agents are now coming to you.
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I mean, think about it, right?
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You have a captive audience.
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You've built a rapport with this audience of real estate agents.
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You're exchanging value.
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You're setting the stage, actually, that is your platform.
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You're first meeting with a group of 20, 30 agents.
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That's your first qualifying meeting.
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So instead of doing these ones, he twos the agents, hey, let's grab coffee, grab lunch,
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chasing them down, having them do no shows for the coffee appointments, now you've got a
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captive audience focused on you, delivering a valuable message, sharing content with
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them that's making a difference and the positioning that happens with at the exchange of emotion
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and reciprocation that takes place is something that's powerful and cannot be duplicated from
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on any other medium, not online through social media, not on video, as great as those things
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are, nothing will replace the power of in person face to face eye to eye because the elements
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that go into building rapport, building trust and like ability, the bulk of what makes
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that happen cannot be achieved without a face to face engagement.
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That means belly to belly, not online, you know, face to face is where it's at.
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Is this making sense, right?
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So you have a captive audience.
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You build instant rapport, you're exchanging value and you set the stage for converting
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some of the agents to attend into referral partners right there.
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Matter of fact, some agents give you by referrals right there on the spot before you're even
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done with your class.
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Now that's fun.
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And when I started to realize that and that started happening for me, I got addicted.
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I got committed real fast because I was serious about changing my sales process from a bunch
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of random actions to a predictable and repeatable system.
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I don't know about you, but I like it when the phone rings and I get referrals from real
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estate agents every single week.
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That makes business fun.
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That removes the uncertainty and the doubt and the fear about where's my next loan coming
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from.
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Am I going to meet my monthly income goals, right?
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So we're talking about moving from random and chaotic and unknown and uncertainty to
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a proven and predictable system for generating a steady stream of referrals from real estate
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agents.
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And that is teaching agent classes.
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Yep.
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That's it.
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Not brand new, not sexy, not shiny, not the latest gizmo whizz bang, no.
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It's fundamentals, block and tackle teaching agent classes.
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It works because the income, the impact to your production and income can be 100% predictable.
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Now why do I say it can be 100% predictable?
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Because remember earlier, I talked about the numbers, right?
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Numbers don't lie.
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And if you've got a system in a process, you can know what your numbers are.
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You can have predictability about the outcome.
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If you follow a proven system, it simply becomes a numbers game.
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And once you understand that, the pressure's off.
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It becomes fun.
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It's exciting because you know every time you teach an agent class, you're putting your
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machine to work.
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You're putting numbers, the law of large numbers in your favor and you're putting agents
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in the top of your funnel into your system and process to know that outside at the bottom
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of that funnel are going to come a certain amount of actual referral partners.
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Put them in at the top, a certain number come out the bottom.
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Do it over and over and over again and you've got your machine, you've got your process.
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It becomes pretty much like manufacturing referral partners, right?
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It is a system in a process.
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It's really fun and cool.
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So you know with certainty, you'll reach your origination goals, right?
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So remember the four extra loans per month example I talked about right, five referrals
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a week, that's 20 loans a month, times a 20% close ratio, that's four extra loans per
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month, right?
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Well, I can tell you from experience that getting an extra four loans per month happens
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a lot faster when you're in front of 20 or 30 agents every single month.
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It's a lot faster simply because the law of large numbers get in front of more people,
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put them into a process for capturing, converting, building, and nurturing trust.
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You're going to get through your goals that much faster than one Z, two Z, right?
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So here's the other thing, you already know the teaching agent classes is a staple of
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most top producing originators.
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You're going to have thought yourself there's a good reason why that is, right?
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What's the reason why a lot of top producers you read the interviews and listen to them
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talk?
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80% of them at some point or another make teaching classes a part of their business.
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Why?
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Because it works, it works, right?
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And if it works for them, it can work for you if you understand the process and the system.
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So without a predictable system, any success I had is a loan officer.
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So before teaching agent classes, think about it.
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If I had success, if I stumbled across a realtor and they fogged a mirror, hey, you're
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good enough for me, you qualify, and I got a referral from them, any success I had was
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from sheer will and dumb luck.
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It wasn't because I was being intelligent or applying a proven predictable system, right?
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And here's the thing, sheer will, effort, that may work in the short term, right?
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Just get out there and put in the hours and make it happen and be everywhere, man.
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Well, that may get some results in the short term, but in the long term, it's not going
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to work, okay?
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It wasn't until I started teaching agent classes that I quickly achieved predictability
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in my production volume.
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The decision I made to teach agent classes made a dramatic impact on how many referrals
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I would be getting from agents every single month.
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In fact, so much so that I went from zero to 37 million enclosed loans in my second year,
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starting from ground zero, okay?
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Now, I know 37 million may not seem like a lot to some of you, but hey, 37 million in
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production in terms of income starting from zero, that became pretty exciting for me.
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And especially, besides the added money, right, the thing I treasured most was the amount
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of free time, less stress, and certainty that I had in my loan origination process.
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Instead of constantly scrambling to get deals and hoping that the one loan wouldn't fall
25:10
out, I had dozens of deals in my pipeline.
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I had multiple agents lined up for me, meetings with them, that is, every single month, without
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having to do call calls, right, and without chasing agents, I was now in the power position,
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and I could be very selective in choosing the agents that I want to work with.
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How does that sound to you, right?
25:32
How many of you want that?
25:33
Wherever you're listening right now, give me a big shout out, say yes, I want that, right?
25:38
So when I started with agent classes, initially, yeah, I had a guest speaker, but soon after,
25:44
I started teaching topics myself, because that only strengthened my position as a unique
25:49
and as being a thought leader.
25:51
And that becomes really powerful when you can begin to do that, because now, again, remember,
25:55
it's the brand called you, you're building the likability and the trust factor, you're
26:00
positioning yourself as a thought leader in your local community.
26:03
So if you're listening to this right now, you may be thinking to yourself that teaching
26:07
agent classes isn't new or sexy, and you know what, you're right, maybe you're more interested,
26:12
here's the thing, I'm more interested in what works than what the masses are doing, aren't
26:17
you?
26:18
I'm more interested in what's going to give me predictability in my business, is it going
26:22
to be getting in front of as many agents as possible and adding value and having a process
26:26
for converting them?
26:27
That's going to be my road to success, or is it going to be some bright, shiny object
26:31
because it's social media, is it what not?
26:33
Not as I said earlier, right?
26:34
All those different things are tools and tactics and they have their place, okay?
26:39
But here's the bottom line, teaching agent classes works very well.
26:43
Why does it work so well?
26:44
Because the bottom line, the building agent relationships is, it cannot be done online.
26:48
At some point, you've got to get face to face.
26:51
Hey, listen, you didn't marry your spouse without meeting him first and you're not going
26:55
to build a predictable stream of agent referrals if you never get off the bench and into the
26:59
game in your local market, right?
27:02
So most loan officers agree that teaching agent classes produces results, yeah, whether
27:06
you're teaching CE classes or not, that's not the real question.
27:10
The real question is, do you have a predictable system for attracting, capturing and converting
27:14
agents to referral partners?
27:16
See having 10 or 20 agents attend your class is what we call putting agents in the top
27:21
of the funnel in marketing, right?
27:23
Well, agents are showing up to your class because they want to hear what you have to say.
27:29
They're already tenderized and warmed up and ready and more willing to be working with
27:35
you.
27:36
A hundred percent of the agents will show up now.
27:39
But if you, every class you held, if you had 20 agents in that class and if at the end
27:43
of that class, you were able to convert, let's just say, 20% of those agents to referral
27:47
partners for agents every time you did a class became referral partners.
27:52
And let's say every week, four of those agents sent you one loan referral per week.
27:59
Look at the math.
28:00
We're almost at the exact same numbers we talked about earlier, four extra loan referrals
28:06
per week, right, times four weeks, that's 16 extra referrals per week, right?
28:10
Do the math.
28:12
Now all of a sudden, you can see that quantum leap in your income that we talked about
28:16
earlier, right?
28:17
Adding an extra 50, 75, 120 K to your income per year.
28:22
It's simple math.
28:23
It comes down to simply how many agents are you going to get in front of and how fast?
28:27
Is this making sense?
28:29
Okay.
28:30
So I have a question for you.
28:33
If you knew capturing and converting agents is a numbers game, would you rather sift and
28:36
sort agents onesy-tuzzy or in small group?
28:40
See another reason teaching agent classes make sense is because, as I've said earlier,
28:44
the law of large numbers, I've noted it in my book, instant referrals for mortgage professionals,
28:48
you may have to kiss a lot of toads to find your prints, right?
28:51
We all know this.
28:52
You may have to go through quantity of agents to find the quality agents, right?
28:57
And again, in other words, it takes time to build profitable agent relationships.
29:01
You can speed up your results by teaching agent classes because you're multiplying the
29:05
return on your efforts when you're meeting with 20 agents at a time versus just one.
29:10
Does this make sense?
29:12
So another great example of this story I can share with you is Shishank Shikar, who's
29:16
a podcast interview I did.
29:19
If you haven't listened to it, go back to the podcast page at Morgan & Marketing Institute
29:22
and look for Shishank Shikar, right?
29:25
So Shishank tells his story about how he came over from India with no relationships barely
29:30
spoke the language, had very little money in his pocket, then he had to figure out a way
29:34
just like me to get started fast.
29:37
And he was trying to go out and meet agents at broker-previews and networking parties and
29:40
all that kind of stuff.
29:41
You know, he's just one day asked himself, these agents are going to give me a referral.
29:45
They don't even know me.
29:47
So he did the exact same thing that I did.
29:50
And I didn't even know this until I actually interviewed Shishank for the podcast.
29:54
He actually got a local top producing real estate agent who was willing to host a series of
29:59
classes on how to be a successful agent and share her secrets and what she has done
30:03
in her business.
30:04
And she was a well-known agent and had already, you know, kind of maybe written a book
30:08
or something like that, but the bottom line is he started teaching agent classes.
30:12
And he got started, of course, with the guest speaker and then he eventually started
30:15
doing his own and he became the teacher.
30:16
But I can tell you if you listen to that podcast, what Shishank tells us is that that one
30:21
thing teaching agent classes was the biggest catalyst to changing his business.
30:27
And today, Shishank has listed in the top 200 originators in the country on the Scotsman
30:31
Sky and it produces over a hundred million in annual loan production volume.
30:37
And still does classes, agent classes to this day.
30:41
And again, like I said earlier, why do top producers do it?
30:44
Because it works.
30:47
Makes sense?
30:48
Okay.
30:49
I get excited about this.
30:50
Whatever I talk about agent classes because I believe in it so much, I've experienced
30:54
it firsthand and so many other loan officers have as well.
30:57
So hopefully by now you're realizing the benefits of teaching agent classes, right?
31:01
That's pretty obvious.
31:03
So do you know the number one reason that most mortgage originators don't get started in
31:08
teaching agent classes?
31:11
They don't know what to present other than mortgage market updates and mortgage related
31:17
info.
31:18
By the way, mortgage content is okay, right?
31:22
It's maybe a place to start.
31:24
But if you really want to position yourself as unique and as a thought leader, the mortgage
31:27
info won't cut it alone.
31:30
Why?
31:31
Because they can get that info from any other loan officer in town.
31:36
I mean, with teaching agent classes, you can cover a wide range of topics that are important
31:40
to agents.
31:41
Yes, some E-C-E classes, but don't get whole hung up on C-E classes.
31:47
Depending on where you're at in the state, there's a lot of hoops to jump through on C-E classes,
31:50
right?
31:51
It's very rigid and formatted in how you're going to structure and give the classes and
31:54
you've got to, right?
31:55
Like to take role and who's going to handle payments and make sure people check in so they
32:01
get approved for their credits.
32:03
There's certain value to doing C-E.
32:05
It's definitely a part of what you may want to consider.
32:07
But again, it's not enough because the content, usually for C-E classes, is quite narrow
32:13
and limited on mortgage financing, for example, right?
32:16
So topics like business planning, goal setting, social media, digital marketing, credit restoration,
32:22
global apps, video marketing is so much more, you've got a whole world of possibilities.
32:28
I'm content that you can be teaching and sharing with real estate agents.
32:33
So here's an idea.
32:34
Think about this.
32:35
Imagine for a moment you became more than just another loan officer for your local agents.
32:40
What if you positioned yourself as a thought leader by educating agents on topics that they're
32:45
already hungry to learn about?
32:48
You see, what happens is now you're building your local platform.
32:51
You're rising above the sea of sameness.
32:54
You're no longer seen as just a loan officer.
32:58
My experience, personally, and interviewing top producing loan officers has proven that
33:03
the reason most loan originators struggle to capture and convert agents is because they
33:08
don't have a what, a predictable what?
33:11
Yeah, a predictable system that generates the number of agents they need to get the quantity
33:18
of referrals that they need every single month.
33:21
It's simple math.
33:23
Get more quality agents equals more quality referrals and loans in your pipeline.
33:28
The question is, what method are you going to choose to get there?
33:32
The slow, painful death of cold calls and chasing agents, which puts you in the box of every
33:37
other loan officer in town, or will you choose reverse prospecting and get agents coming
33:43
to you in your classes?
33:46
The first approach gives the power to the agents and puts you at a disadvantage, cold
33:52
calling, chasing, pandering, hey, just give me a chance, give me your worst loan.
33:56
The second approach, teaching agent classes, puts you in the power position and gives you
34:03
the advantage.
34:04
Does this make sense?
34:05
Are you with me?
34:07
Go on.
34:08
Say yes.
34:09
I'm listening right now.
34:10
I can hear you even though we're on a podcast.
34:11
Yes.
34:12
Yes.
34:13
Okay.
34:14
So, back to the number one reason most loan officers, I speak with a reluctant to get
34:18
started with the classes or maybe they're not consistent, maybe you've taught an agent
34:22
class in the past, but you haven't been consistent with it.
34:24
The biggest reason most don't stick with it is they don't have the content.
34:30
They don't know what to present, share, teach, they don't have the power points, the notes,
34:35
the handouts, they don't have the entire system in a box, they don't have time to do the
34:40
research on the relevant topics and put it together in a very professional way.
34:46
Most loan officers are too busy to research and prepare a quality presentation for agents,
34:50
and they're unfamiliar with perhaps how to effectively promote and fill the class.
34:54
Is that you?
34:56
Are you in a situation similar to that?
34:59
Would you want to teach agent classes, but that's potentially one of the biggest roadblocks
35:03
for you?
35:04
Well, if so, hang on for a second and come on a journey with me.
35:09
If you had someone on your team who did the research on the topics most relevant to agents,
35:14
imagine that person designing a quality professional PowerPoint presentation for you and includes
35:20
notes.
35:21
It includes a script and handouts and marketing flyers and you got coached on presenting
35:26
if that's what you wanted and even help on how to promote your classes and recruit
35:31
co-sponsors.
35:32
So essentially all the heavy lifting is done for you.
35:35
You get to be the hero just by showing up, teaching the class, putting agents through
35:40
a proven predictable system that gets you loan referrals every time you do a class
35:44
and long after that class is over.
35:48
So by teaching agent classes, you truly have a predictable system for generating high
35:52
quality agentships, relationships, and referrals.
35:56
So once you implement the system and you understand your numbers, the future looks bright.
36:01
So bright, you got to wear shades and you're actually having fun.
36:04
There I say that, working with agents, imagine enjoying, working with agents.
36:08
Yes, it can be fun when you have predictability and certainty and when you're able to be
36:14
in control and be selective in which agents you choose to work with or not.
36:19
Makes sense?
36:21
So where does that leave us?
36:23
Well, you may know that for years I've been helping loan officers across the US teach
36:27
agent classes on a variety of topics.
36:30
Most of my work up until now has been one-on-one or in very small groups on a limited basis.
36:36
I've had many students do one class with me and they got such good results.
36:40
They wanted to continue doing more classes either monthly or every other month, for example.
36:45
And what I would do is I would do the research on a topic.
36:47
I'd design the PowerPoint, the handouts, the marketing flyers, the website and the emails,
36:51
give them a presentation coaching, help them get co-sponsors and more.
36:55
Sometimes I would even fly in and give the presentation for them.
36:59
But there's two challenges there.
37:00
Number one, it's expensive to have me do it all for you.
37:03
Number two, it doesn't scale well for me.
37:06
I can only work with a limited number of people in that model.
37:12
So over the past year, I've been testing out a new platform called My Aging Classes.
37:16
I've invited just a handful of few select loan officers to participate as beta testers.
37:22
And essentially, what we created and tested and perfected is a proven process and system
37:26
to help loan officers teach classes to agents and get predictable results.
37:31
Meaning, follow the system, you'll get referrals every single time, guaranteed.
37:38
So it's much like the one-to-one, one-on-one work that I've been doing with loan officers
37:42
where I do the research on the relevant topics.
37:45
I design a killer PowerPoint, I give you the notes, the scripts, the handouts, the marketing
37:49
flyers, and even a video tutorial of the presentation that you can watch and duplicate.
37:55
And it's all done for you in a box and it's essentially it's a done for you agent class,
38:01
a complete system.
38:02
You get everything but me flying out to deliver your presentation.
38:06
Now, if you still want to hire me to come out and deliver the presentation, let's talk,
38:10
okay?
38:11
But, as I said, you need to be in the driver's seat.
38:14
And this, this My Aging Class, this new platform, this has been in the works for almost
38:18
this entire year.
38:20
It's been a true labor of love because if you can't tell by now, I'm passionate about
38:24
helping you achieve success with agents.
38:26
And in my humble opinion, there's no better way to attract, capture, and convert agents
38:32
to referral partners than to consistently teaching agent classes, right?
38:37
Building an entity, a brand, a platform in your local area.
38:41
Show me a more effective way for attracting, capturing, and converging, converting real
38:45
estate agents to referral partners than classes, show me a better way.
38:50
And I'll do that instead.
38:51
I challenge you right now.
38:52
I haven't found one out there.
38:54
Again, this comes back to knowing that success in sales isn't numbers, right?
38:59
Once you know your numbers, which is the number of agents you need divided by your conversion
39:04
rate multiplied by the average number of loan referrals, your production becomes predictable.
39:12
You'll finally get off the production and income roller coaster, stop chasing agents,
39:15
agents, and have a real business.
39:18
Now, if you don't want to work with agents, then clearly this isn't for you.
39:22
And that's cool, man.
39:23
There's more than one other way to generate loans, and if agents aren't your deal, then
39:28
all right, no problem.
39:30
But if you want consistency in your income, you need a system, no matter what, no matter
39:36
where you're getting the business from, you need a system.
39:39
Not a gimmick and not a tactic, but a proven system that fills your funnel, fills your
39:44
pipeline, generates a stream of loan referrals, loans, right?
39:51
And in the case of agents, it's got to be, you've got to be in front of agents consistently
39:56
in front of them, right?
39:59
People who become referral partners.
40:01
So if you like what I've shared today and you want to learn more about why teaching
40:05
agent classes works so well and how you can get started, I'm hosting an informational
40:08
webinar and you're invited, okay?
40:11
We've got new content to share with you on this webinar, and we're also opening up enrollment
40:15
in my agent classes for those who want to get a head start on 2017 and host their first
40:20
class in January of 2017, if not sooner, and do it with my help.
40:26
So if you want to learn more, you want to hear more, you want to take it to the next step
40:29
and understand why teaching agent classes so well, I'm going to be doing an extended training
40:34
session on this topic.
40:36
Just click the link below for complete details and RSVP.
40:41
Just as a thank you, I'll send you my free, ultimate guide to teaching realtor classes.
40:47
It's basically a short course on how to get started teaching agent classes.
40:52
If you haven't already got it from the blog, then you need to click the link below, get
40:57
registered for the webinar, and you get access to it.
40:59
If you've already downloaded it from my blog, great, awesome, I'd love to hear your comments.
41:03
So here's the bottom line, RSVP for the webinar training.
41:06
This will be a training and not just a product pitch, right?
41:09
It would be an honor for me to share some time together with you because I'm 100% confident
41:14
that I can help you get more agent referrals faster and easier than you ever have in the
41:19
past.
41:21
So RSVP, the link is below.
41:24
Hope you've enjoyed today's podcast, episode number 25.
41:27
Please share your comments.
41:28
If you need to reach out with to me with a personal email, go ahead and send it to info
41:33
at mortgagemarkinginstitute.com.
41:36
Otherwise, make sure you're registered for the training.
41:38
It's limited seating.
41:39
I'm going to go deeper on agent classes and also talk about a limited enrollment opportunity
41:44
we have in this new platform called My Aging Classes.
41:48
So thanks for listening.
41:49
I enjoy you.
41:50
I appreciate you and I look forward to seeing you on the upcoming webinar.
41:55
Take care.
41:56
Go out and get yourself some business and make it a great day.
41:58
Bye for now.
41:59
Thanks for listening to mortgage marketing radio.
42:02
One more truth in mortgage marketing, get more free training and resources at mortgagemarketinginstitute.com.
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