Latest / Mortgage Marketing Radio / Coach’s Corner with Khai McBride

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Coach’s Corner with Khai McBride · Mortgage Marketing Radio

0:00
In today's highly competitive mortgage industry, building profitable relationships with
0:04
the 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, it
0:15
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
0:34
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.
1:03
The hardest thing about growing your loan operation is actually not lead generation marketing
1:09
and sales.
1:10
It's actually scaling.
1:11
And I think every loan officer can relate to me because it's all fun in games when you
1:16
do one or two loans a month, but what happens when you get to that fifth, sixth, seventh
1:20
loan, all of a sudden, you're spending half of your time babysitting your files and
1:24
you're not out there originating your business.
1:30
Hey there, Jeff Zimfer, host of the Mortgage Marketing Radio Podcast.
1:41
Thanks once again for tuning in.
1:42
Or if it's your first time, I want to know, hey, by the way, do you know you can ask me
1:46
anything?
1:47
Go to askjefanything.com and tell me what's your biggest challenge right now in business?
1:51
What's the obstacle you're trying to break through?
1:55
Love to take your questions and then I'll take them if it's a great question and I have
1:58
time.
1:59
I will answer that question on the air for the benefit of you and everyone else.
2:03
Askjefanything.com.
2:06
Before we get into this week's special episode, I did want to share with you a couple more
2:09
success stories because it's very important that you know what's working right now in the
2:13
field in the market.
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We talked to many, many different loan officers all week.
2:17
We have a very small group of VIP mortgage professionals that are out there leading the
2:22
charge, grabbing market share, leading with an educational platform.
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I was talking to a loan officer the other day and they were calling, doing outbound calling
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to real estate agents.
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They were scheduling about three appointments per week.
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It was going well, but one of the challenges or questions he had was what to offer them
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besides the, you know, we've got superior pricing, we've got a great service, right?
2:47
All those kinds of things and in offering them this, you know, we've got a, you know,
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what he was looking to do was offer them a platform.
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And that was my question.
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I posted a reel about it the other day is when you're talking about the real estate agent
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specifically.
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And of course, now here's the thing.
3:00
There's tons of loan officers calling real estate agents.
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You know that.
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So the question is how are you going to show up differently?
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First of all, you might not even want to call them.
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You might want to attract them instead of chase them.
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I don't know, but even if you did call them, what do you have to say?
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How fast do you say it, right?
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What is your value proposition before they click or hang up or they immediately tune you
3:20
out because you sound like the same of everyone else, same as lame, right?
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Well, I know some of our mortgage professionals are attracting instead of chasing like Glenda
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White.
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Just got a post from her four hours ago.
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Always love when classes actually work.
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She recently taught the video marketing class via Zoom, 41 registered, 26 showed up five
3:43
appointments and the class ended seven minutes ago.
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That's just one example, right?
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If you want to hear some more, I'd be happy to share more with you.
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We have got tons of success stories.
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Another success story from Rob Yance today's class, you are the brand was a hit, 22 reservations
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and nine attendees.
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Of course, he says he's got to prove that, improve the show rates and with us what we help
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him do.
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Several in the class that was the best they've attended.
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He's already received three Google reviews, building up his Google reviews.
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That's one of the things we train and coach on and he set two realtor appointments and
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this is all within 24 hours or less of the class being conducted.
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So my question back to you is, what is your platform?
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How are you attracting agents not chasing?
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How are you differentiating?
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And if you'd like to learn more about how we're helping our mortgage professionals do
4:31
just that, get the kind of results you heard, then go to mortgage marketing.pro and check
4:35
it out.
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There's a brief video I put up there and you can learn more.
4:40
So this week I'm bringing back my very special guest, Kai McBride.
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What we're going to be doing is a regular feature called the Coaches Corner and it'll be
4:48
a chance for me to showcase different people, different platforms and technology companies
4:53
and anything that I think might be helpful or useful for you based on the current market
4:57
condition.
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I'm going to bring that to the podcast and so this week we bring Kai back because there's
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obviously been a shift in the market and a shift in what he's coaching on for loan
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officers.
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And so I thought it'd be a timely conversation to bring him back and talk about how you
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can help make a shift regarding your mindset, your marketing, your message and Kai has
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a very special offer.
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He doesn't do this for everybody but if you're interested in learning more about his coaching
5:22
per se, stay tuned, make sure you check the show notes for a link to schedule a complimentary
5:26
small group session where you get a chance to take a sneak peek into what it is that
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Kai does.
5:32
And if it's a benefit for you or not, link in the show notes and listen to Kai talking
5:36
about Coaches Corner, appreciate you tuning in without further ado.
5:40
Let's get into this week's show, Kai McBride, welcome back to the show.
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Good to be back always.
5:47
So you are back.
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You're the first installment of our Coaches Corner, which you guys heard in the intro.
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What I'm going to be focused on is once a month bringing in a special guest who has a special
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what I think, super power expertise or ability to help you navigate the current choppy waters
6:03
that are in the market.
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And so Kai, you have the esteemed honor of being the first person invited in for that.
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So that says a lot about you, my friend.
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Yeah.
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Choppy water.
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So I'm the first lifeguard that's going to run out there and try to save the industry.
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That's what it feels like right now.
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We're just out there trying to save the industry.
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I got my little buoy with me, but I'm like David Hasselhoff, you know what I mean?
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I'm first one in trying to save people, not even thinking so it's just like Baywatch
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as mortgages or something here.
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I don't know.
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Oh, absolutely.
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I remember during pandemic when the market was shifting the other way, oddly, but remember
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before the market got really crazy with refines, it actually went the other way for a little
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bit and we were a little scared.
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And that was kind of a dark time.
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And I remember behind the scenes, myself and other people, I'm going to start out with
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the word people in the industry, we're like, what's going on?
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And then a couple of us said, you know what?
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We just have to stand up and be leaders and go out there and just run in the dark and
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tell everybody, you got to follow us.
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You got to follow us.
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You got to follow us.
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Yeah.
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I mean, but that's what we do.
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People are looking for others to follow and who's got the experience and insight and
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knowledge to help them through things.
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And I feel that that's what I've been doing for, you know, 21 years now.
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Yes.
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You have.
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That's why I wanted to have you here first is because, you know, you are on the front lines
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every day.
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You're coaching a lot of people.
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You're company and team.
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You're exposed to a lot of, you know, feedback from the streets.
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And so for those that are listening right now and I've, you know, had some people message
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me and let's just face it.
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Yeah.
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The waters are choppy.
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It will be one way to describe it.
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So I wanted you to talk about the shift that you've made in coaching.
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Like what are you hearing all, but more importantly, how are you helping?
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Like, you know, you're the lifeguard, right?
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So you're going to go out and save some lives and rescue some people.
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And let's just face it.
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You can't rescue everybody, right?
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But how are you being, you know, how are you coaching differently than you were?
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Let's just say a few weeks ago, a few weeks ago.
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I think this was like, well, July, July was, was, wow, what a lot of blood in the streets
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in July.
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That was probably the biggest turn of a month that I've seen in production in the industry.
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But this started back, you know, March, April as the industry started to turn.
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So let's rewind a little bit and how even like coaching has changed.
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So traditionally, I am a scaling coach.
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I help originators, branch managers, companies scale their loan operations because the hardest
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thing about growing your loan operation is actually not lead generation marketing and sales.
8:37
It's actually scaling.
8:39
And I think every loan officer can relate to me because it's all fun in games when you
8:44
do one or two loans a month.
8:45
But what happens when you get to that 5th, 6th, 7th loan, all of a sudden, you're spending
8:49
half of your time babysitting your files and you're not out there originating new business.
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And so you need tips to scale, to create systems, to create better operations, to hire, build,
9:01
lead a team to help you grow.
9:04
People that do 25 units a month, they're not, it's not like, yeah, let's just sign with
9:09
the loan application.
9:10
We submit it and then we're funded the next day.
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I mean, they've got to manage this entire pipeline for the next 90 days of leads, shoppers,
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people in process.
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And it's all a scaling issue.
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That's why people with, and you know, the rule of thumb is you're going to want one team
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member for every five bundings you do a month, assuming you want a life, assuming you want
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to work about 40 hours a week.
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I mean, I hear it all the time, oh, I do 20 loans with like one assistant.
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We'll ask them how many hours they work in a week.
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These are like 60, 70 hour people.
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And if that's not the life that you want, you don't want to be taking loan applications
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online at Disneyland with your kids, right?
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So I'm a scaling expert and what happened during 2021 was capacities, rather limit because
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everybody's scaling the crap out of their business, doing tons of refinance volume, okay?
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Well, that's changed.
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So that volume completely drops.
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People are in a scaling situation anymore.
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People are in a rebuilding situation.
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And so I'm typically not a marketing coach, but we do know how to market.
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So we had a shift and we're doing a lot more marketing and a lot more sales, a lot more
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sales funnels, a lot more coaching than we have in the past, but I think where we looked
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at the industry a little bit different is a lot of very traditional training, traditional
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coaching, traditional wisdom is it's about phone calls and appointments which lead to sales,
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phone calls and appointment, which leads to sales, not just the industry, but the generations
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have changed.
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That doesn't work quite like it does.
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And people use the term, let's get back to basics a lot.
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And when they think about get back to basics, it's phone calls, appointments, sales.
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And that's great for a baby boomer generation, which is basically on its way out of home
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ownership.
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And part of the generation, which is my generation, your generation, but the millennials
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and the generation Z coming up, I mean, they don't even pick up the phone that you want
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to call people that don't pick up the phone, right?
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It doesn't, it doesn't make any sense.
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I don't want to say it doesn't make any sense because how people are changing.
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The newer generation, they're interacting on their smartphones and the smart devices,
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but they're texting, right?
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I mean, even voicemails are kind of funky.
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They're consuming on social media, they're learning, they want, they don't want to be sold,
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they want to listen, Google some research, come up with a list for themselves and then
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make a decision.
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And so people have to understand the generational changes and I know there's a lot of old school
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people out there and you know, there's something about a badge of honor like I'm old school,
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like I'm kind of that way too, a little bit, but if you don't recognize the change in
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generations, you're just going to die on the vine.
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And the only reason why it's working for people is because yeah, there's still some
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older generation buying houses.
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And the only reason why it's working people is just sheer force.
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And so my comparison is this, I know that if you want to get into shape, pushups and
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sit-ups are always going to work.
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But with all the technology, with all the knowledge that we have today, we're beyond pushups
12:28
and sit-ups, right?
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We've got different workout techniques, we have hit, we have cardio, we have CrossFit,
12:34
we have machines, we have yoga, we understand nutrition more.
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You can actually get bigger fitness gains with good nutrition.
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And so that's what I see too, is that even looking at the way marketing and sales are,
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it's completely different.
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It's a social media consumption game, it's an information game, it's a knowledge piece,
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it's a trust piece, it's a technology piece.
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And so even teaching marketing and sales today is a lot different, it's sales funnels
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all over the place it's about to.
13:04
And then I think with loan officers, consumer direct is more real today.
13:11
Server director for was what, mailers, cold calling title lists, and maybe having a booth
13:15
someplace out of show, but today, consumer director is about having your own YouTube
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channel, having your own podcast, holding seminars that now have turned into Zoom seminars,
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free videos, things on news feeds, and so being innovative is key.
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We don't go back to basics, we go to innovation at times like this.
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Times like this require innovation because that's the market.
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So let's do this, I'm wearing my coaching hat as well from time to time, and I'd like
13:47
to put that in two different camps.
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The back to basics in innovation, because I think it depends on who we're going after
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audience wise.
13:56
If we're going, consumer direct, we're trying to generate our own leads or whatever that
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case is, right?
14:01
I agree with that, all the different channels and evolution that you've said in terms
14:05
of technology.
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I tend to put the referral partners in a separate bucket in that those fundamentals
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tend to still have some relevance, right?
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Based on relationships and all that kind of stuff, not that I want to go down that rabbit
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hole, but just that I'm thinking of my listeners and knowing what the message they've been
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getting for the last six years, yeah, that there's multiple mediums to reach those people,
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but is that okay if we put those in two separate buckets?
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Oh yeah, and by the way, I never said that, I never said that those basics, those fundamentals
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go away.
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You can't rely on those alone.
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Right.
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I just want to clarify for those listening, absolutely.
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You can't loop everybody into one bucket, depends on who you're going after.
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So let's set aside the referral partners for the moment and let's do this, come back
14:48
full circle then to what are you coaching on now?
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Like what are the conversations you're having mostly with people?
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They're showing up.
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They're like, I don't, I don't, I need business, right?
14:58
I'm assuming they're saying that.
15:00
Right.
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So the way our coaching company works is that every quarter we come up with a new curriculum
15:04
of what we're going to, what we're going to train on.
15:08
And I actually just had my, my team retreat last week and some of the things that we felt
15:14
people need are, for example, two classes, one class is, is on video, just teaching people
15:20
how to create video, what to say, how to say it, but even all the little technology,
15:25
you see people doing, you know, hello, specifically, hello, specifically video marketing themselves.
15:30
Like you see, like everybody's on TikTok now, for example, and you know, when you watch
15:32
those TikToks, where people are like pointing like this, like the captions, people don't
15:37
know how to do that.
15:38
People don't know how to do that.
15:39
People don't know how to edit.
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People don't know how to upload.
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And it's like, well, I want to get on that, but I don't, I don't know how to do that.
15:44
Forget getting on video and talking.
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But now there's little technology pieces how to do and how to loop, how to, how to, how
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to spice videos, things like that.
15:52
So we have a video class.
15:54
We have an event class doing events, whether you do events live or whether you do events
15:59
Zoom.
16:00
Doing events Zoom, I do a lot of events Zoom, and it's a lot different than live.
16:04
If you just think that you're going to, in a live audience, you're going to talk, you're
16:09
going to interaction, you know, you're going to ask questions, you may have a presentation.
16:13
If you do the same thing in Zoom, you're not going to get the same effect.
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So you have to learn how to work with chat.
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You have to learn how to work with polls because your biggest, your biggest obstacle in
16:23
a Zoom session is people don't have the cameras on.
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They're watching in their cars.
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They're not interacting.
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They're zoning out.
16:32
They're multitasking.
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Right?
16:34
So how do you get that?
16:35
And doing Zoom class is a little different.
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We have that.
16:37
Another one which is still a prevalent that we're teaching is just getting out of your files.
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The problem is that a lot of people, a lot of people in this industry want to do the
16:47
new marketing.
16:48
They have to do the new marketing because they're, because volumes down, but they're still
16:52
stuck in their files because they don't want to delegate.
16:55
They don't want to let go.
16:57
And the interesting thing is getting out of your files is not just saying let go.
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It's actually understanding how to use technology to get out of your files.
17:06
Okay.
17:07
So, for example, using technology to use like an online appointment scheduler, right?
17:12
Instead of bantering back and forth, auto responders in your email, directing people to
17:17
team members, using virtual phone services like ring central, like dial pad, so that you
17:23
can have, so that your phones are being answered and you're not always on your cell phone.
17:27
I mean, we've already moved to the place that people are doing business on their cell phones,
17:30
but now people are slaves to their cell phones.
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I was answering and responding right away, utilizing new technology to manage incoming calls
17:36
better.
17:37
That's how you get out of your files using different technologies of pipeline management,
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right?
17:42
It's a CRM or project manager like Monday.com or a Sony or maybe it's just your jungle
17:49
or your arrive, right?
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There's different ways to do that.
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That's popular.
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We're also going over, let's talk about realtors, okay, let's talk about realtors.
18:00
But here's the thing about real track acquisition is real track acquisition is not just about setting
18:07
up an appointment with realtors and saying, this is why you should do business with me.
18:11
I'm going to provide you some value or I'm going to help close your loans on time.
18:15
The realtor class is it's also talking about how do you control your realtors?
18:19
So for example, I get clients all the time, like I have a client who just took on a new
18:24
realtor, like a broker owner and his 30 realtors and it seems like a big win, but then from
18:31
day one, realtors are just texting 21st step and I need this, I need that, I need that,
18:36
I need that.
18:37
It's establishing boundaries with your realtor partners, with your referral partners saying,
18:42
this is how I work.
18:44
Let me show you a flow chart of the best way to refer me business.
18:48
And by doing it this way, not only will we have smoother transactions, we'll have less
18:53
franticness, we'll get more referrals, we'll be more organized and we won't waste your
18:59
time showing people homes that don't qualify or always everything has to be a rush.
19:05
And I say, if you think that it's about me not wanting to go through that game convenience
19:09
or you, do we really want clients going through that frantic process to buy a home because
19:15
they remember that too.
19:16
It's always frantic.
19:17
And so it's also laying down the groundwork with the real estate agents on creating a smoother
19:23
process from lead to, from lead intake to pre-approval too.
19:28
And just because, you know, referral partners, I don't know how many realtors watch this,
19:32
but referral partners can tend to be very needy.
19:36
And how do we control that?
19:38
How do we control that need coming in?
19:40
This is my work.
19:42
We have a scripting class on just some of the same thing.
19:46
I think a lot of what we do is we need to establish boundaries as loan officers, but we don't
19:52
know the right words.
19:54
So one of my master coaches, for example, when he gets a call on a Sunday for a last
20:02
minute pre-approval, his script is essentially, I'd love to do this pre-approval for you.
20:12
I am with my family right now, and for me to do this pre-approval, I'm going to have
20:16
to step away from my family for about two hours.
20:20
So I tell you what, I'll make a deal.
20:22
I will gladly step away from my family for two hours to get this pre-approval that you
20:26
would like, but just promise me you're going to use me through this transaction and you're
20:30
not going to shot me.
20:31
I'll give my time to you if you can make that promise to me.
20:35
And realtor partners and consumers, they say, done deal, let's do it, and then you
20:39
doesn't get shot.
20:41
But what is a typical loan officer?
20:42
They don't even say that.
20:43
They just say, yes, yes, sir, yes, ma'am, yes to that.
20:45
And then they get shot.
20:46
That happens with loan officers all the time.
20:48
We bend over backwards for people, and then you just end up getting shot for the last
20:51
minute.
20:52
And so you have to create those boundaries and you have to create those agreements with
20:54
people.
20:55
So that's a scripting class that we do.
20:57
I like it.
20:58
There's a lot of stuff.
20:59
There's a lot of stuff.
21:00
But let's deal with the issue of mindset, right?
21:03
Because in choppy waters, people can panic.
21:07
And of course, you know, if you get a cramp when you're swimming and you know this, you
21:12
know, grip from what I know around LA, you bend to the beaches and all that kind of jazz.
21:16
No more ocean where you're at now.
21:18
But, and I was just out on vacation in Idaho and swimming and doing knee boarding and ski,
21:23
you know, water skiing and all that.
21:25
But when you're having trouble in the water and there's choppy waters, or you get
21:29
a cramp or whatever, the worst thing to do is panic, right?
21:31
Because you panic mode, you can do stuff that's stupid that's going to actually cause
21:36
greater harm and potential risk of you drowning.
21:38
So how do people not panic in the current environment and not drown?
21:43
Well, I think right now where people are panning the most is where is business going to
21:48
come from?
21:49
Okay.
21:51
And I actually posted this in my Facebook group.
21:53
I'm going to read it.
21:56
It's always like there's this perception that there's this lack of business and this
22:00
is what I wrote.
22:01
It's just really simple.
22:02
Know this.
22:03
The first thing I asked people and everybody listening right now is how big is your database?
22:07
Is it 500 people?
22:08
Is it a thousand people?
22:10
Whatever it is, it's a lot bigger than you think because take your database number which
22:13
is typically your CRM.
22:14
Now, here's what I want you to add.
22:15
I want you to pick up your phone and I want you to go to your contacts and like on an
22:19
iPhone, you can scroll to the bottom, you can see how many contacts you have.
22:22
The average person has over a thousand contacts.
22:25
I have 1700 contacts.
22:27
Add that because that's part of your database.
22:29
Then look at all your social media accounts.
22:31
How many friends?
22:32
How many followers do you have?
22:33
Add that.
22:34
What I find is that most people when they add all of those things together, they have a
22:36
database of like two, three thousand, four thousand people.
22:38
It's not the 500 because you just know so many people know that every single, every single
22:43
person there with the exception of people that are like under 18, they're capable of
22:46
buying a home, including people asking me, what about your realtors?
22:49
As long as your realtor is able, it is capable of buying a home, they're part of your database.
22:53
The first thing that I say is your database is a lot bigger than you think it is.
22:57
We want to be able to reach out to your database because remember, the average consumer gets
23:01
a new loan every five years, a new house every seven years, so everybody is eligible.
23:05
If you really look at a database of a thousand people, 200 people will get a new transaction
23:10
this year, 200 out of a thousand, 400 out of two thousand, it's 20% of your database.
23:18
It's going to get a loan every single year.
23:20
Now, this is where it gets even more fun.
23:22
Everyone in your database knows somebody else who is a homeowner.
23:27
Now your database is double potential.
23:30
Everybody in your database, at least the homeowners, whatever percentage that is, use the realtor
23:37
and knows the realtor.
23:38
A lot of people, when they built their databases during the ReFi Booms, they did the refinancers
23:42
for those people, but they never did the purchases for those people.
23:45
You call those people up and ask them who their realtor is for that introduction.
23:50
Every single person in your database, or at least the subset of people in your database,
23:53
has a CPA, a financial planner, a divorce attorney, or a state planning attorney.
23:59
Those are all warm referrals, so let's talk about warm referrals.
24:03
If anybody is ever wanted to, let's say, go after divorce attorneys or financial planners
24:06
in CPAs, I know what they do.
24:08
They go to Yale where they look at lists and they call call.
24:11
That doesn't work.
24:12
All you need to do is you just need to ask your database and say, hey, Jeff, do you know
24:15
a financial planner that you love and trust on a scale of one to five?
24:18
How would you rate them?
24:19
Do you have five stars?
24:20
Would you mind doing a warm introduction, be a text or email, because I would love to
24:24
talk to them about sending them some business?
24:26
That's a warm introduction lead right there.
24:28
Everybody in your database knows one of those people, probably like 52% no divorce attorney,
24:33
right?
24:34
Okay.
24:35
Your title agent, you've ever done every transaction with, can introduce you to realtors.
24:39
Because they know all the realtors, they know the realtors that are looking for new loan
24:41
officers, because they experience the transactions that blew up.
24:45
Those are opportunities.
24:46
Your realtors can introduce you to new realtors, especially the ones that look like
24:49
I love you.
24:50
They're going to brag about you.
24:51
Okay.
24:52
Anything.
24:53
There's 49 other states you can get licensed in.
24:55
There you go.
24:56
Do more business.
24:57
And in today's Zoom and today's technology world, you don't have to be locally present.
25:01
You can create realtor relationships in different states, referral issues in different
25:05
states.
25:06
Okay.
25:07
The average person has owned, I already talked about that.
25:11
Every real estate office with love, free training for their agents, and that can be you.
25:18
If you call five real estate offices and say, I know you're always looking for training,
25:23
sales training for your agents, I would love to be that person.
25:25
See, that's why we have an event finding class.
25:28
So we train people how to put those, put those together.
25:31
Okay.
25:32
Every single social media contact that you have, you can reach out to via posts via ads.
25:37
You can buy every single one of those people to a homebuyer's seminar, okay?
25:41
You can offer homebuying seminars via Zoom.
25:44
There are, if you do VA, we do a VA class too.
25:48
VA is a great area that people can break into.
25:52
There's veteran organizations across the country that would love educational classes
25:58
on helping veterans buy homes.
26:00
Okay.
26:01
Here's another one.
26:03
We still often lose business to credit unions and banks and, right?
26:07
But they lose business to us too because there's things that they can't do.
26:11
So just go right to the end of me and say, hey, let's create, listen, I know at least
26:14
business, do you sometimes how about Mr. Cretting in person?
26:18
When there's deals that you can't do, can you send them to me?
26:21
Now you're creating, right, that outside of a relationship.
26:25
I love this one.
26:26
Every four sales sign on every single street, if you just drill up and down, elictive
26:30
four sales signs, that's somebody selling a home who's going to buy a new home that
26:35
needs a mortgage person, okay?
26:37
Every open house, there's a captive agent for you to create.
26:39
I mean, there's just so much business.
26:41
Yeah.
26:42
I feel like people just stop thinking and stop getting creative where the business is
26:47
going to come from.
26:48
And I'm just talking about sources of business without, right?
26:52
The marketing of it in sales, if you get, but, but, but I think people are like kind
26:55
of deer in the headlights right now, like where is the business going to come from?
26:59
Exactly.
27:00
So I love that you just went through that list and that was quite an extensive list.
27:04
And if you're feeling overwhelmed, so pick one to three of the activities you've heard,
27:08
go back and relisten to this, whatever you need to do, right?
27:10
Pick those one to three activities and decide which one of those you're going to pursue.
27:14
You can't pursue them all at once.
27:16
So pick the ones that are that are most relevant to you.
27:18
Then I want to bring this back to what I think that list illustrated is mindset because
27:24
you're right.
27:25
People tend to those that haven't worked on their self very much, right?
27:30
Their mindset, their ability to respond to external forces.
27:35
So if you're in that panic mode, like we talked about with the water metaphor, first of
27:39
all, get yourself out of panic mode, number one, and get the right thinking, get the
27:42
right to context in that what I decided to pull up here is, let me just see here.
27:47
This is June to do this.
27:49
So even with the recent forecasts being revised from Fannie Mae, they are still forecasting
27:57
five million homes sold.
27:59
Okay.
28:00
So that's still a hell of a lot of homes, right?
28:03
And is there a pause or people kind of get, you know, waiting and, you know, slowing down
28:07
a little bit first right now, yeah, absolutely, because you've got these different beliefs
28:10
around.
28:11
No, I want to wait to see how much further the prices come down or whatever, which gets
28:13
back into why you need coaching, you need scripting, you need to be able to understand
28:17
how to utilize content, housing data to be able to create confidence in, you know, your
28:22
sphere of influence and things like that, because people still are, but I've talked to
28:25
a realtor just before this call had, I think two open houses over the weekend, 25 people
28:31
came through.
28:32
Yeah.
28:33
Okay.
28:34
The activities out there for the people who are motivated, those ones you need to get
28:38
in front of.
28:39
Well, and here's the reality, right?
28:40
So when you look at the volume drop, I think, I think we're at between 35 and 40% volume
28:46
drop.
28:47
Well, there are people out there that I talked to that they're volume, and if you think
28:51
about a 30% volume drop, I might have mentioned this last time.
28:53
But if you're doing 10 loans a month, you go down to seven, that's not that, it's not
28:57
that much.
28:58
I mean, it is, but it's, it's 30% right?
29:01
If you're doing six loans, you go down to four loans, it's not that much.
29:04
But that's not the problem.
29:05
The problem is that there's a lot of people out there that are having 60, 80% volume drop.
29:09
So if you're doing 60, 80 volume drop, why is the average 30 to 40?
29:13
Because some people are not dropping volume.
29:15
Some people are still growing.
29:16
And if this podcast was to the hundreds of thousands of loan officers, we'd have a problem
29:22
because everybody would be in the same thing.
29:25
Luckily, Jeff, this podcast is a subset of that.
29:28
This podcast, you have the tens of thousands of listeners.
29:30
So if the tens of thousands of listeners on this podcast did everything, because you
29:35
got to get the business from somewhere, we're just going to take it from the people that
29:37
don't listen to this podcast, there's plenty of business you see them saying, because I
29:41
mean, this is a brutal fact.
29:42
But if you want to eat, you got to make sure somebody else doesn't eat.
29:45
So let's make sure that your tens of thousands of listeners are going to eat next and they're
29:48
going to fill up their pipelines and the people that didn't listen to your podcast.
29:51
Oh, well, right?
29:52
It sucks for them.
29:53
But that's where it's going to come from.
29:55
Well, I know you get this because you've been around a long time like me as well.
29:58
And again, it comes back to mindset.
30:00
I do think that's an incredibly, incredibly important thing that people must control,
30:03
right?
30:04
As your mindset at times like these, because in some of this, we're preaching to the choir
30:07
if you're listening.
30:08
Some of you guys and gals already get that this is the best time to invest in your business,
30:14
into level up your marketing, into it, you know, go and know the old saying from Buffett
30:17
when there's blood in the streets.
30:19
That's the time you invest.
30:20
Well, there's blood in the streets, people, because the people are quitting.
30:22
They're like questioning.
30:23
They're pausing.
30:24
They're hesitating.
30:25
And that's the time you want to go in there and scoop that up that business.
30:29
You know, I was telling somebody yesterday that they sometimes have trouble sleeping and
30:35
I said, we have far too much information in today's world to let that be a problem, right?
30:43
Whether you have a sleeping problem, you have a sales problem, have an IT problem.
30:48
There's far too much information that I can Google that there's a book on, that there's
30:54
a class on, that there's a coach on.
30:57
Somebody can help you with almost every single problem that you can think about.
31:01
And what's happening is that the resources are there, but people aren't being resourceful.
31:06
So I'm a coach and it's just a matter of, I'm just sitting there waiting for people to
31:11
reach out to me for that help because we're a resource that have done it for 21 years.
31:15
I mean, I have got seven great coaches in between all of us.
31:18
We have plenty of expertise to help people, but you've got to take that step too.
31:24
Now, I'm assuming that people are already taking the step, listening to this podcast,
31:28
but they just have to keep going.
31:30
They have to keep going down the rabbit holes of assistance and help to get the solutions
31:36
that they need.
31:38
Interesting.
31:40
What's your take then on, there's a lot happening in the industry as well and you're not
31:43
going to dance around these topics before we hit record, right?
31:48
So I'm going to loop a couple of these in and not to go too deep on them, but there's
31:53
the thing B of A came out recently with the whole, you know, their loan program to try
31:57
to track those, you know, specific types of buyers, yeah, any comments around that.
32:01
There's a lot of people are like, you know, you know, people show up in these Facebook
32:04
groups and all bitching and moaning.
32:05
We come to bitch fest, you know, oh, if we're going to B of A and this and that and everything
32:09
or people like that, everyone needs a villain, right?
32:11
Yeah.
32:12
Any comments on that people are going to use people are going to use in people are going
32:17
to create a narrative for everything.
32:19
We see this in politics all the time.
32:21
So what's the narrative?
32:23
One narrative is you can call B of A a liar.
32:26
Another narrative is they have that what's our equivalent.
32:31
We can do that too, right?
32:34
Another narrative could just be maybe supportive, like I'm glad that somebody in the industry
32:40
is taking a stance to help this, this niche market and maybe I, maybe I can't compete
32:45
with that, but be a cheerleader, a positive force because I, we also don't know what
32:50
percent of your sometimes we bitch when it's like the smallest percent of your clients
32:54
is actually going to is going to use that or not use that and you know, there was such
33:00
a huge uproar of rocket mortgage and but that's but that's but you can create such positive
33:10
narrative there, right?
33:12
It's like I don't like planning an entire vacation on Expedia.
33:18
There are other, there are still travel agencies and kind of niche semi online hybrid travel
33:25
agencies and tour guides that will create a more customizable experience and so it's just
33:31
but you also have to recognize that when what rocket came about what were they really
33:36
attracting?
33:37
They were attracting people that wanted to use technology.
33:39
So it's not this fight between rocket and us.
33:41
It's like let's embrace the things that they are using to attract people and and support
33:47
in that and saying just like rocket, we're going to give you the technology experience.
33:53
We're going to allow you to apply on your phone.
33:56
We're going to allow you to check status on your phone with the personal customization
34:02
expertise and service and so I think it's the same thing when you look at a BFA situation.
34:07
It's like if you're one of those people singing on man, they're a big bank, how do we fight
34:10
a big bank?
34:11
Well, what's your equivalent product that does that with a more customized mortgage banker
34:18
or mortgage broker experience and use the publicity to create a narrative that's positive
34:21
for you.
34:22
Really, it's it's you can you can everything is a spin and I think it's just what people
34:28
are used to doing and and when you're thinking about marketing, you're thinking about
34:32
attracting people the more, so when it comes to positive and negative spin, there's
34:39
times for both, there's times for both.
34:43
Generally the negative spin is on the pain that your target market is going through and
34:49
the positive spin should be the positivity you're going to bring to alleviate pain and
34:55
I just see a lot of people spin it backwards where it's like they're just creating more
34:59
pain on getting a mortgage, like sometimes I watch people marketing and the narratives
35:06
they put and it's like, man, I don't even want to buy a house, it's so ugly out there
35:08
because all people do is bitch about this and bitch about that and shut a negative light.
35:12
I don't know that I want to work with that person, right?
35:15
Yeah, but that's how I see it.
35:17
Product is going to come and go, I mean, we've seen this for how many years, the option arms
35:20
came, the two one by downs came, the no no docks, the no downs, the then we, is it a minority
35:28
thing, not a minority thing, there's so much out there that's going to come every day.
35:33
What do you think?
35:34
So here we are in September now, just coming into finished labor day.
35:38
So we're about to enter Q4 in a few weeks.
35:42
What would you coach people to be doing or preparing for Q4?
35:48
Well, I think Q4 is always that time that we've got seasonal holiday issues.
35:56
We also have weather issues.
35:59
I mean, let's face it, you live in Minnesota, yeah, you don't, you're not going home shopping,
36:04
right?
36:05
In the middle of the blizzard.
36:06
And so Michigan places like that and, and you know, it's seasonal for different areas,
36:11
like in Arizona, that's when now people are going to start buying because nobody wanted
36:14
to buy in the middle of 115, 120 heat in Arizona.
36:18
I mean, I think that what's important is that it's not a common answer for everybody,
36:22
but everybody see, everybody has a down season and a high season.
36:26
For some people, it is the end of the year, for some people, it is the end of the year.
36:30
What I would say though is that again, it's the narrative, it's also the opposite.
36:34
So with the end of the year, there's, there's two reasons why it's low season.
36:40
One is weather, so we kind of can't control that if you're like up in the Northeast.
36:44
But the other is that people are just going to be off on holidays, but that's an, that's
36:48
an opportunistic time to be available for the people that are still shopping, right?
36:55
So I think that's a good thing too and, and let people know that that your services are
37:00
still going.
37:01
You're still marketing, you know, you're still marketing your meeting with people in
37:04
down times.
37:05
Just one of the excuses when business is really good is that I don't have time to meet
37:08
with you.
37:09
Well, this is a down, this is a downtime of fourth quarter.
37:12
So let's meet and let's talk about it and let's plan.
37:15
And nothing too is that four people that are working with referral partners.
37:19
The end of the year is a great time that everybody's in reflection mode because we're coming
37:24
up to New Year's, set 2023 business planning meetings with all of your referral partners.
37:30
Do that all in Q4 and help people create a kickstart for 2023.
37:35
That's the best time to be business planning on in Q4.
37:38
Yeah, like a question I've been suggesting people try out there even right now with your
37:43
referral partners is, you know, as you're calling them up and this is back, this is the
37:46
other side of that line, if you will, of consumer direct versus referral partners, where,
37:50
you know, being brilliant in the basics of relationship building and all that, you know,
37:54
has relevance as we have talked about before because another thing you could do and I know
37:58
you've coached on this is, you know, you go back to those close transactions you did this
38:01
past year, you've got varying levels of relationships with those people.
38:04
Some good, some, you know, it was just the transaction.
38:07
That's it.
38:08
You never followed up.
38:09
Never nothing, including listing agents.
38:10
Well, that I think is a perfect opportunity to do what you're saying, which is go deep
38:14
and the question is, you know, that we've been toying around with over the last few
38:17
weeks is, you know, hey, so the market shifted, I'm curious, you know, how's it impacting
38:22
your business plan?
38:23
Right?
38:24
What are you doing differently?
38:25
What are you adding, taking away or keeping doing the same, right?
38:27
And opening up that kind of conversation is a great opportunity to pour into people
38:31
that way.
38:32
Yeah, I think your point is is that I'm actually really shocked how many people actually
38:35
don't meet with their referral partners on a regular basis.
38:38
It's like once they start referring to business, you don't even meet with them.
38:41
So whether it's Q4 or Q1 or Q2 or Q3, you need to be asking yourselves, let's look at
38:48
all my referral partners.
38:49
I need to set a one on one meeting with them all again, let's talk about the last quarter.
38:55
Let's talk about the next quarter and you that with your referral partners every quarter,
39:00
you're always going to be top of mind.
39:01
I mean, I think the other shame is that if somebody's been in the business for 10 plus
39:05
years, ask them how many referral partners they just dropped off the face of their stop,
39:10
stop communicating with them.
39:11
And by the way, that is the basic thing that we have to continue, right?
39:16
It's the relationship.
39:17
Right.
39:18
Yeah, 100%.
39:19
So we've covered a lot of areas here.
39:22
We've got the consumer side of things where you wrote down some notes.
39:24
You've got to learn, let's just face it, you've got to become a modern originator.
39:28
If you're going to survive and thrive, the next gen of home buyers, the gen Z, right,
39:33
and the cusp of millennials that are still a little bit younger, right?
39:36
40 years old now, man, they're not young anymore.
39:42
Dude, that sounds really young to me right now, but to be 40 again.
39:49
So yeah, you've got to learn all, you become a modern originator, use the tools, use
39:52
the technology, get leverage, right?
39:55
Events, one to many.
39:57
So that's on that side of things and have a social media presence and get serious about
40:01
this, guys, it's, you know, I shared this on a post, I think it was last week.
40:05
So six years doing the podcast and I remember about three years ago, you know, I would
40:09
get questions from people.
40:10
They're like, Hey, man, do you hear anybody actually getting business from social media?
40:14
And I'm like, three years ago, it was much less today.
40:17
I mean, it's hello, like if you're not getting business from social media, you're doing
40:22
something wrong.
40:23
Mm-hmm.
40:24
Yeah.
40:25
It's a program.
40:26
There's some people that only get business from social media.
40:28
Right.
40:29
Right.
40:30
Exactly.
40:31
People in agent today, that is, that doesn't have a social media presence, you know, I mean,
40:36
I do.
40:37
I do.
40:38
Well, okay.
40:39
I don't know, I don't know a newer agent today that is starting their career on social
40:45
media, which means that that's the entire four generation.
40:49
Right.
40:50
Right.
40:51
Yep.
40:52
Yep.
40:53
And we're seeing these.
40:54
By the way, well, no, I don't want to do it now.
40:55
I was just going to give a plug for a different episode.
40:57
Anyway, people are getting business from social media for sure.
41:01
Okay.
41:02
And then on the flip side, moving into Q4, start doing your referral partner business planning.
41:05
Let's do this.
41:06
It's Coach's Corner.
41:07
Right.
41:08
You help people break through some of the things we talked about here today, mindset, skill
41:11
set, things like that.
41:13
You, the reason why I asked you here is because I wanted you to be your first guest for Coach's
41:17
Corner.
41:18
But also, you're willing to put yourself out there and offer, dare I say, a free coaching
41:24
session for people who want to take advantage of that.
41:26
Is that right?
41:27
Right.
41:28
Right.
41:29
Right.
41:30
First time coaching session for anybody that wants to do it, strings attached, there's
41:35
not going to be any selling, any pitching.
41:36
It's a pure coaching session as if anybody else was on a coaching session.
41:41
One hour, it's, it's, it's, it is a group session, but there's, there's a huge benefit
41:46
to that and how you're going to collaborate the group and you're actually going to get
41:49
ideas with one another.
41:50
I, I have a hybrid coaching program like I love 101 because I can really fine tune
41:56
somebody gives them the customization, but I also love group because the power of the
41:59
group, the idea sharing, it's much bigger than one coach.
42:04
And so I offer a free session, there's a link we can put out.
42:09
There's I think four available dates, three or four available dates with about roughly
42:13
50 odds, 50 odds spots.
42:16
So they'll fill up pretty quickly if you don't grab one.
42:20
But I would love to, I would love to basically give people a test drive to see what I do.
42:26
But in my sincerest form, if that's all you do is you take advantage of a coaching session
42:32
and you're able to better your business, I'm still, I'm still really helping the industry.
42:38
I'm solidifying my name, what I'm about, what we do.
42:43
You know, when it comes to coaching and helping people, I do all of that stuff for free.
42:47
I'll sit down with people and I'll, I'll tell them and teach them anything for free.
42:51
I mean, what we really provide as a coaching program is just walking people, walking
42:57
people through the actual journey and holding their hand, but straight to the curriculum.
43:01
Exactly.
43:02
But so if you're interested in that coaching session, we have a link sign up.
43:07
Like I said, no strings attached, no selling, well, you know, we'll, you know, really
43:11
from, from me, I help the industry, the industry helps me.
43:16
And that's, that's always been my relationship with the injury.
43:19
You're not paying me, even though I've asked you a lot of you don't pay me.
43:22
So.
43:24
That's right.
43:24
I mean, seriously, you've been in the coaching chair for quite a long time, you know,
43:28
and, and I think you've built an awareness and a reputation for those who, who know you
43:32
in the industry, like you said, after our last podcast, you got a lot of people reaching
43:36
out to you.
43:36
So you are a giver for sure.
43:39
And this is a, it's not a thinly veiled sales pitch.
43:41
It's just you're going to pour into people and that's how it works.
43:44
If you pour into people, right, and you're the show up to serve and it's right for people
43:48
to vote there at the right stage, they'll make that decision to come and join.
43:51
And I'm going to say this because it's always weird saying this, please understand, as an
43:56
originator listening, okay, it's the same thing.
43:59
You should really want to give and educate as much free information as you can.
44:04
And that's why I think a lot of originators, they just kind of sit waiting to do business,
44:09
go out there and put the information out there to educate.
44:12
That's why we need social media because social media is a free platform for people that
44:16
want to consume information that you can, you can educate, you can put your brand out
44:21
there, you can be a leader, you can be a philanthropist in terms of helping people.
44:25
And they will eventually recognize you as a knowledgeable leader, expert in your field
44:31
and want to work with you, but we can't sit thinking everything is just a sale.
44:36
Will I follow the people that take the, that take the course and interest the course?
44:41
I mean, that's what we do.
44:43
But I'm not, but I don't do it under the pretense of selling and pitching all the time.
44:48
And I believe originators should be that way as well.
44:51
Start doing those home buyers classes for free and, and going in there and help real
44:54
through offices free.
44:55
Just help people.
44:56
Right.
44:57
Help people and we'll attract people to you.
44:59
Absolutely.
45:00
Okay.
45:01
So the will put a link on the show notes.
45:03
If you're on listening on your mobile phone, wherever you're at, just hold your phone
45:05
up, tap the link, go there and grab a time on Kai's calendar.
45:09
He's got the various slots available.
45:11
Based on the last response, we know they'll be filling up quickly.
45:13
So Kai, thanks a lot for being the first of the coach's corner for us.
45:19
I love it.
45:20
What was that saying?
45:21
You know who the pioneers are because they have the arrows in their back.
45:24
You know, we're always calling to the new land and everybody's like,
45:27
Hi, will you go first?
45:27
I'm like, yes.
45:30
I'll breach that door down, jump into the water.
45:32
That's because I know you can handle it, man.
45:34
It's always fun being here, Jeff.
45:36
I enjoy myself.
45:37
And, you know, we always have good, good.
45:41
Intellectual conversations about what's going on in the industry.
45:44
Absolutely.
45:44
So hey folks, listen for tuning in.
45:46
Thank you for once again, listening to us.
45:51
And my suggestion is, if you are at all in this place of like, gosh, I'm a little bit
45:55
like, what do I do?
45:55
I need a little help, little guidance.
45:58
What's the risk?
45:58
Click the link, listen to the city and on the free group session.
46:02
And then, you know what, you're going to learn something for sure, get some direction.
46:04
And then if it's for you, great, if not, that's cool too.
46:06
But, you know, go check that out further, links in the show notes.
46:09
Thanks for tuning in everybody.
46:10
We'll see you on the next one.
46:11
Bye for now.
46:30
Hey guys, what's up?
46:31
Real quick.
46:32
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46:37
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46:47
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