Your Biggest Concerns in Today’s Market
Loan officers on the whole are having a rough go of it right now. But it doesn’t have to be that way. My dear friend and partner, Steve Kyles, and I know a whole lot of loan officers who are having their best year ever.
It doesn’t have to be hard. We’re passionate about addressing loan officers’ common concerns and helping them head down the path toward success, no matter what the market is doing.
The Fastest Way to Credibility is Small Kept Promises
How do you get credibility with your buyers and your listing agents quickly in a transaction?
Steve says that, when he talks to a buyer, he starts off making sure he has structure to the call. He’s going to loyalty uplift the referring agent. He’s going to send the buyer a link to complete the application. And he’s going to schedule a loan consultation.
Then, when that loan consultation is scheduled for 2:00pm the next day, he doesn’t call at 2:01. Trust is built in small kept promises. He calls at 2:00 and says:
“Hey, Buyer. It’s 2:00 and I’m excited to be on this call. I know my dear friend Tammy referred you to us. We’ve got 30 minutes to map out your clear mortgage plan. Is this still a good time to talk?”
Steve says you wouldn’t believe how many people say something like, “Oh my gosh, you’re calling right on time.” They’re blown away that you’re doing exactly what you said you’d do. Apparently that’s not the norm these days.
When Steve is working with a listing agent and they ask when the appraisal is due back, Steve says, “Great question. I’m gonna have Maria on my team get us the answer before 4:00 PM today.” And then he does just that. If he doesn’t get her an answer until tomorrow, he’s lost credibility.
We use time and commitments to earn quick credibility. It’s small, simple, and easy, but it makes a huge difference. Don’t miss the opportunity to keep small promises.
When I’m referred by a real estate agent, 67% of those loans close. When a real estate agent refers to you, that’s instant credibility. If someone trusts their realtor, and their realtor trusts you, then that someone is going to trust you as well. This is why we’re always pushing people to work from referrals. You can’t put a price tag on instant credibility.
Steve says I taught him a really cool way to brag on yourself which lends credibility. Once you’ve been referred, you can say something like, “Hey, buyer, what I’m known for is the ability to x, y, or z.” That instills credibility and professionalism and now people are thinking, “Wow, I want to work with Carl. He’s so clear about what he’s known for and good at.”
How Do I Stick with My Plan and Not Get Distracted?
So, if someone is following our Daily Success Plan, how can they stick with it and not get distracted? First of all, I’d ask, how sure are you of your plan? Is it a proven plan?
Let’s say I’ve got a plan to dig 10 feet straight down into the ground because I know there are three bars of gold under the ground in this exact location. Each bar of gold is worth about half a million dollars. I know they’re there, because I saw you put them in there and fill in the hole with dirt, and I didn’t leave. I sat there the whole time. I know for a fact that they’re down there, so I start digging.
And then my phone rings. Am I going to stop digging and answer my phone? Or do I keep digging? I keep digging. What if my buddy comes up to me and wants to grab a beer or go to a ballgame? Do I go with him or keep digging? I keep digging.
I’m 100% sure that the gold is there. I have complete confidence in my plan to dig 10 feet and get that gold. And I’m not going to let anything get in the way of me getting to it.
When it comes to our Daily Success Plan, I’ve seen people make these phone calls to this type of person using this exact script, and I saw the results. It’s a proven plan. As long as you sit down and do it and you don’t give in to the distractions.
Carl, What Are Your Three Big Basics?
Sometimes it can be really helpful to just home in on two or three really important things. Here are mine.
Number one is what we just talked about—a proven plan. I don’t want to go try and discover anything. I’m going to dig where I know gold is, and I know it’s there because I saw someone put it there. If I do this particular activity, I know I’ll close this many loans, because it’s a proven plan.
Number two—time blocking and date blocking. We have certain activities we do on Monday, Tuesday, Wednesday, and Thursday mornings from 9-11am. Nothing and nobody gets in the way of us making those calls during those two hours.
Number three—get in the draft. We do this thing we call the MMA Call Stars where we all sign on to a Zoom meeting and we make our calls with our cameras on. It’s like the Brady Bunch on steroids. We do this every Monday, Tuesday, Wednesday, and Thursday morning. Then we take Friday off because we earned the right to.
The MMA (Mortgage Marketing Animals) Call Stars
Everybody signs on to this Zoom meeting at 9:30am. The first 10 minutes we go over who we’re calling and what we’ll say, then everybody puts their mic on mute, turns their speakers down, and starts making phone calls. We can see everybody else doing it which motivates us and helps us feel less alone. We give a little virtual high five any time we get another lead or set a coffee appointment or get a referral. It’s so great.
And we use proven scripts, we’re all there together, we all show up, and we’ve all got each other’s backs. We encourage each other and hold each other accountable. Nobody’s playing on Facebook because the camera’s on, and it’s just a really really super powerful phenomenon.
That’s how you stay in the draft—you do it with a group of amazing people who are trying just as hard as you are. If you try to go out on your own, it’s not going to work.
Nature has known this for a long time. Like, if you look at a flock of geese, they fly in a V formation, because they get more lift off following others. It’s the same thing in NASCAR when the cars are driving around the track. If they’re driving in a pack, they all go faster. The first car goes faster and the last car goes faster. Make sure you’re getting in the draft with a bunch of winners and staying there.
So my three big basics:
- Have a proven plan
- Block out your time
- Get in the draft
If you need help with any of these big basics, we’d love to map it all out for you. We’ll show you what you need to do each week, how to block out your time, and hook you up with people you can draft with. We’ve walked thousands of loan officers across the nation through this exact thing. Click HERE to set up your FREE call TODAY.
