Frequently Asked Questions

1. Where can I find...

2. What is the name of the Live group call held Mondays – Thursdays, and where can I join in?
Loan Officer Breakfast Club! Be sure to register on the class registration page!

Click Here to access the LO Breakfast Club’s Facebook group.

3. Where can I register for all upcoming classes? 
You can access all class registration links directly on the Left Menu.

4. Where can I find class replays?
You can access all class replays directly on the Left Menu as well.

5. How would you describe MMA Call Stars? Who is this class good for? 
This is a great class for anyone new to Thor’s Hammer or making cold calls, struggling with scripting, handling objections and overall call reluctance!

Join like-minded individuals having the same struggles and sharing how they have been SUCCESSFUL, and different strategies they have tried that have worked. Be sure to register on the class registration page!

6. What does DSP stand for?
Daily Success Plan.

7. What DSP tasks should I be doing each day of the week?

8. What is the purpose of Thor’s Hammer
To set connect with qualified agents and schedule coffee meetings.

9. What is a Qualified Agent? 
At least 8 buyers side transactions per year.

10. How many calls does a Loan Officer make on Mondays?
Call your list of qualified agents every week for 12 weeks to set a coffee appointment, using scripts in the DSP Script Book

Agents only come off the list for the following reasons:

  • They have the coffee with you and move to the post coffee calls.
  • They don’t answer the phone for the 12 weeks.
  • They are really rude! (which is totally not cool, take them off the list!)

11. How many Whales, Tuna and Tilapia should a Loan Officer target?  What designates them in those categories? 

  • 5 Tilapias = Closing 8-11 Buyer sides per YEAR
  • 20 Tunas = Closing 1–2 Buyer sides per MONTH
  • 5 Whales = Closing 3 or more Buyer sides per MONTH

12. Where can a Loan Officer acquire a Qualified Agent List? 

  • Searching the NMLS for qualified agents (Brokers, Appraisers, Title Reps, and Realtor Associations may all be able to get you access to NMLS) 
  • Using a service like QualifiedAgentList.com, Broker Metrics, or MTA Go. 
  • Using awards winners (like President’s Club, etc. if you absolutely can’t get NMLS access)

TIP: We have more info about QualifiedAgentList.com on our Productivity Tools page (scroll down to the “Tools” section and click the link to submit your request with Richard Smith’s team)

13. How often should I call agents? 
Every week for 12 weeks.

14. What results can a Loan Officer expect from Thor’s Hammer for every 30 calls made?
For every 30 calls made, you will get an appointment with 10.  For every 10 meetings, 2 will start sending business.  

Here’s the “Step-By-Step Guide to Thor’s Hammer” class for more information on this highly effective, proven method of getting and increasing your business!

15. What is the purpose of coffee meeting #1?
To schedule coffee meeting #2, to build a relationship, and to FROG them for that one actionable item that you can Mr. Schmooze them with.

16. What does “FROG” mean?
Family, Recreation, Occupation, Goals.

17. How does the Mr. Schmooze gift tie into “FROG”? 
The goal of FROG is to learn something personal that you can send an impactful gift that lets them know you listened.  

Here’s the “Coffee Follow-Up” class that ties into the Mr. Schmooze gifts and coffee appointment follow up.

18. When does an Agent get moved from Thor’s Hammer to Focus 40?
When they start referring you business.

19. What is the Triad of Awesomeness
A way to identify what activities make you money, what you enjoy doing, and what you are good at.

20. What are examples of Reactive Activators
Distractions (phone, email, etc.) that keep you from staying focused on completing your calls.

21. What ways can a Loan Officer utilize Agent Mastermind to provide value to an Agent?

  • Invite them to join live classes.
  • Share prior content with them that is relevant to the challenge they are having.
  • Offer to come teach the material to their group at a lunch and learn.
  • It gives you a reason to reach out and call them every single week!
  • With consistent and persistent reaches, they get know, trust and like you!

22. What belief is Agent Mastermind based on?
“Law of Reciprocity”  – Do something nice for others, and good things are likely to happen in return.

23. Have more questions about Agent Mastermind?
Click Here to access the Agent Mastermind Getting Started section.

24. What is the question of the Just Ask Campaign
“Can I ask you a favor? Can I count on you to send me your next buyer’s lead? That way we can work together twice this month and I can give you updates on them too.”

“Is there anyone else that needs our/my help? Can I count on you to send them our way?”

25. What is the number of target contacts for the past database?

26. If you don’t have a past database, where else can you pull contacts from? 
Your circle of influence (people you know outside of work whom you do things with (sports parents you know or meet who play with your kids for family, church members, book clubs, friends, family, etc.)

27. Typically, how many loans can a Loan Officer expect to generate for every 100 calls made to their database? 

28. What is the breakdown of Marketing To Your Database?

  • Call Agents 1-2X week
  • Call Clients 3-4X per year
  • Snail Mail Everyone 1/X month
  • Email Everyone 1X week
  • Text Agents 1X per week
  • Clients 1-2X per year

29. What ways can you make calls?

30. What are the advantages of Phone Burner
You can upload your database and start calling with the first number, if you get someone live, you talk to them. If you get their voicemail, you can attach a pre-recorded message (from the Loan Officer) and keep “burning” your way through the list so that you aren’t physically repeating yourself with every voice message that you leave. You can then send out an email and text automatically (from the Loan Officer) to let them know you just tried to reach them and left them a voice message.

31. What is the 3X3 script we recommend Loan Officers use? 
“Do you know any friends, family or coworkers looking to buy, sell or refinance? Can I count you to send them my way?”

32. How is the database broken down to reach out quarterly? 
By the alphabet (2 letters of the alphabet per week). For snail mail on Wednesdays (4-5X per month).

33. What are examples of “Snail Mail”?

  • “I like you!”
  • “I appreciate you!”
  • “You are awesome!”
  • “You rock!”

34. What email does Carl recommend sending to everyone each week? 
Choose 3 events happening in the area:

  • Something artsy – Museum 
  • Something for the adults – Wine tasting
  • Something for children – Painting classes

35. What is an example of the script for Loan Officers to TEXT to Agents after the coffee meeting?
“Who are you showing houses to this weekend that we need to get pre-approved to make sure it’s a good use of your time?”

36. What is an example of the script for Loan Officers to TEXT agents they’ve never met?
“How about that coffee tomorrow?”

37. What is the Dr. Butler Script
Your staff’s job is to make the person on the other end of the line think that it’s the Loan Officer calling them. It’s all about HOW the call or email is presented.

For example, “Hey ______, <LO NAME> asked me to call you.” or “ Hey ______, <LO NAME> asked me to email you.”

38. What is the purpose of the Money Tree?
To thank everyone that was involved in the referral process (which leads to more referrals and more business), and to let them know how much you appreciate their referral, and the impact that it made to your business and your family. 

39. On average, how many referrals do you need in order to get one application?
It’s about a 25% conversion on referrals, so for every 4-5 referrals, you can expect (on average) 1 application.

40. Why is it important for Loan Officers to focus on Pre-Approved and Lookings (your PAALs)?
This is where the Loan Officer can future cast, and get the buyer to imagine having the results in hand. 

41. What is future casting?
To implement this technique, talk to each Pre-Approved and Looking (PAAL) individual as if they’re already in the house they want. The purpose is to encourage our PAALs to make a decision sooner.

For example, “I can see the kids splashing in the pool and smell the BBQ now!”

42. Want more ways to connect with Carl, Tammy, Steve and the rest of the MMA crew?
Click Here for all the ways you can be a part of this community!

Still have questions?
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