Quick Catch Up

Today, let’s talk about the importance of staying organized as a mortgage originator. A lack of organization can be devastating to your business, but with a bit of focus and effort, you can streamline your operations and significantly improve your efficiency and success. Organization isn’t just about having a good CRM; it encompasses all areas of your professional life.

1. Client Relationship Management (CRM): Having a robust CRM system is crucial for tracking your interactions with clients and leads. It helps you manage follow-ups, appointments, and tasks efficiently. Make sure your CRM is up to date and that you’re using all its features to stay on top of your client relationships.

2. Time Management: Being organized with your time is essential. Use a calendar or scheduling tool to block out specific times for prospecting, follow-ups, meetings, and administrative tasks. Prioritize your tasks daily and stick to your schedule to maximize productivity.

3. Document Management: Keeping your documents organized is vital for smooth operations. Use digital tools to store and categorize your files. Make sure all necessary documents are easily accessible and securely stored to prevent any delays or issues during the loan process.

4. Communication: Effective communication is key to maintaining strong relationships with clients, referral partners, and team members. Keep your emails, calls, and messages organized. Use templates for common communications to save time and ensure consistency.

5. Pipeline Management: Stay on top of your loan pipeline by regularly reviewing the status of each loan. Use your CRM or a dedicated pipeline management tool to track the progress of each application, ensuring nothing falls through the cracks.

6. Marketing: Organize your marketing efforts by creating a content calendar and scheduling your campaigns in advance. This includes email marketing, social media posts, and other outreach activities. Consistency in your marketing efforts can lead to better brand recognition and more leads.

7. Personal Development: Allocate time for your own growth and development. Whether it’s attending webinars, reading industry news, or participating in training sessions, staying organized with your personal development can help you stay ahead of the competition.

8. Financial Management: Keep your finances in order by tracking your income, expenses, and commissions. Use accounting software or a financial planner to ensure you’re managing your money effectively and planning for future growth.

Action for Today: Reflect on the different areas of your professional life and identify where you can improve your organization. Implement at least one new strategy or tool today to enhance your efficiency and productivity.

PS: To learn more about how we can help you grow your business and develop a winning mindset, visit DailySuccessPlan.com. Don’t forget to join our free live Zoom coaching calls every Monday to Friday from 8:30 AM to 9:00 AM ET at LoanOfficerBreakfastClub.com. Also, register for our upcoming Loan Officer Boot Camp on July 18-19, 2024, by visiting MastermindRetreats.com.

Today’s live call was packed with valuable insights and strategies. We had Owen Lee on the call, and he shared some fascinating information that’s crucial for us to consider right now.

Key Points from the Call:

1. Record-High Home Equity: Homeowners across the country currently hold a total of $32 trillion in equity, marking an all-time record. This unprecedented level of equity presents a significant opportunity for cash-out refinances.

• Consumer Debt at an All-Time High: Equally important, consumer debt in the United States has reached over $1 trillion, also an all-time high. With credit card interest rates often running in the teens and sometimes even in the 21-22% range, many homeowners are burdened with high-interest debt.

• Refinancing Opportunities: Despite mortgages taken out in 2020 having low interest rates in the 2-3% range, it’s important not to overlook the potential savings for homeowners through refinancing. One member shared a compelling example of how refinancing a customer from 3.5% to 6.5%, combined with paying off high-interest debt, saved that customer $1,400 a month.

Encouragement for Your Outreach: Don’t hesitate to reach out to your past client database and discuss their current debt situation, even if they have low mortgage rates. Given the high levels of home equity and consumer debt, refinancing could still provide substantial monthly savings for many homeowners. Now is the perfect time to assist your clients in leveraging their equity to improve their financial situation.

Action for Today: Make those calls to your past clients. Ask them if their debt situation needs to be reviewed. You might be able to save them a significant amount of money and build stronger relationships in the process.

PS: To learn more about how we can help you grow your business and develop a winning mindset, visit DailySuccessPlan.com. Don’t forget to join our free live Zoom coaching calls every Monday to Friday from 8:30 AM to 9:00 AM ET at LoanOfficerBreakfastClub.com. Also, register for our upcoming Loan Officer Boot Camp on July 18-19, 2024, by visiting MastermindRetreats.com.

Today, I want to share a bit about Mary Kay Ash, the founder of Mary Kay Cosmetics, and how her philosophy can inspire us in our daily work as loan officers.

Mary Kay Ash was an incredible entrepreneur who built her company from the ground up with just $5,000 and a small store in Dallas, Texas. Her vision and determination turned Mary Kay Cosmetics into a multi-billion-dollar global business, empowering countless women along the way. One of her most powerful principles was her focus on making people feel important.

Mary Kay Ash famously said, “Pretend that every single person you meet has a sign around his or her neck that says, ‘Make me feel important.'” This simple yet profound idea was at the heart of her success and is something we can all learn from.

1. Building Relationships: By approaching each interaction with the intent to make the other person feel valued, we can build stronger, more meaningful relationships. As loan officers, our success is heavily dependent on the relationships we build with clients and referral partners. Making people feel important fosters trust and loyalty, which are crucial in our industry.

2. Personal Connection: When we take the time to understand our clients’ needs and show genuine interest in their lives, we create a personal connection that goes beyond the transaction. This personal touch can differentiate us from our competitors and leave a lasting impression on our clients.

3. Consistent Effort: Mary Kay Ash’s philosophy requires consistent effort. It’s about making every client, partner, and contact feel significant every day. This consistency in our approach can lead to more referrals, repeat business, and a stronger reputation in the market.

4. Practical Application: In practical terms, this means going the extra mile in our communications, follow-ups, and service. Whether it’s a handwritten note, a thoughtful follow-up call, or simply remembering personal details about our clients and partners, these actions show that we care and value them as individuals.

Action for Today: Reflect on Mary Kay Ash’s quote and consider how you can make every person you interact with feel important today. What small actions can you take to show your clients and partners that they matter to you? Implement these actions consistently, and watch how your relationships and business grow.

PS: To learn more about how we can help you grow your business and develop a winning mindset, visit DailySuccessPlan.com. Don’t forget to join our free live Zoom coaching calls every Monday to Friday from 8:30 AM to 9:00 AM ET at LoanOfficerBreakfastClub.com. Also, register for our upcoming Loan Officer Boot Camp on July 18-19, 2024, by visiting MastermindRetreats.com.

Today, I want to talk about a valuable lesson: things are not always what they seem. In our line of work, it’s crucial to remember that you can’t judge a book by its cover. Here are three examples to illustrate this point:

1. Surprising Clients: Years ago, I did a loan for some clients who I never would have guessed owned multiple properties. They appeared to be typical, everyday people, but they owned four properties and had over $3 million in the bank. This experience taught me to never make assumptions about a client’s financial situation based on appearances. It’s a reminder that each client deserves the same level of service and respect, regardless of first impressions.

2. Real Estate Agents: When calling and courting real estate agents, it’s easy to misjudge their reactions. Sometimes, agents might seem irritated or uninterested, but you don’t know what’s going on in their lives at that moment. They might be dealing with personal issues or just having a bad day. It’s important to stay persistent and professional, as they might be a perfect match for you, just caught at the wrong time. Building strong relationships requires patience and understanding.

3. Builder Business: Many loan officers assume they can’t break into builder business because builders often have in-house lending teams. However, this is a misconception. There is plenty of builder business to be had if you know how to approach it. Don’t assume that opportunities aren’t there just because they aren’t immediately visible. Today, we have Kevin Gillespie as our speaker, and he will share insights on how to effectively tap into builder business. Kevin will provide strategies to overcome these barriers and seize these opportunities.

Action for Today: Reflect on your own experiences and consider where you might be making assumptions that could be limiting your success. Challenge these assumptions and approach each opportunity with an open mind.

PS: To learn more about how we can help you grow your business and develop a winning mindset, visit DailySuccessPlan.com. Don’t forget to join our free live Zoom coaching calls every Monday to Friday from 8:30 AM to 9:00 AM ET at LoanOfficerBreakfastClub.com. Also, register for our upcoming Loan Officer Boot Camp on July 18-19, 2024, by visiting MastermindRetreats.com.

Today, I want to talk about the concept of synergy and how it can be harnessed through the Daily Success Plan at three different levels: Simple Synergy, Strong Synergy, and Super Synergy.

1. Simple Synergy: The Power of Breakfast Club At the first level, we have Simple Synergy. This is exemplified by our daily Breakfast Club meetings. These 30-minute Zoom calls provide a platform for loan officers to come together, share insights, and discuss strategies. It’s a simple yet effective way to start the day with focus and motivation. By participating in Breakfast Club, you’re tapping into the collective energy and knowledge of a community dedicated to success.

2. Strong Synergy: Amplifying Efforts with Call Stars The next level is Strong Synergy, which is embodied by our Call Stars sessions. Here, loan officers gather in a more structured environment to make prospecting calls together. While we’re not all on the same team, this coordinated effort amplifies our individual efforts. The support and accountability in these sessions help drive better results and create a stronger sense of community. By participating in Call Stars, you’re aligning your efforts with others to achieve greater success.

3. Super Synergy: Thriving as a Unified Team Finally, we reach Super Synergy, the highest level of synergy, where we’re all working as part of the same team, company, and plan. This level of synergy occurs when loan officers fully integrate the Daily Success Plan into their entire team, following the plan with complete alignment and coordination. By working together as a unified team, we can achieve extraordinary results. This super synergy ensures that everyone is working towards the same goals, using the same strategies, and supporting each other every step of the way.

Action for Today: Reflect on your current level of synergy. Are you benefiting from Simple Synergy through Breakfast Club? Have you experienced the power of Strong Synergy with Call Stars? Are you ready to take the step into Super Synergy by integrating the Daily Success Plan into your entire team? Each level offers unique benefits and opportunities for growth.

Remember, the more aligned and coordinated we are, the greater our potential for success. Embrace the power of synergy and elevate your business to new heights.

PS: To learn more about how we can help you grow your business and develop a winning mindset, visit DailySuccessPlan.com. Don’t forget to join our free live Zoom coaching calls every Monday to Friday from 8:30 AM to 9:00 AM ET at LoanOfficerBreakfastClub.com. Also, register for our upcoming Loan Officer Boot Camp on July 18-19, 2024, by visiting MastermindRetreats.com.

I want to remind you about the importance of making phone calls to your Sphere of Influence (SOI). Often, mortgage originators neglect not only their past client database but also their broader sphere of influence. It’s crucial to maintain contact with everyone you know, not just the clients you’ve closed loans for.

The Importance of Your SOI:

Many originators focus solely on their past clients, but your sphere of influence includes friends, family, acquaintances, and anyone else you know. These are the people who can provide referrals and help grow your business. Making these calls can lead to deals weeks or even months down the road.

How to Easily Export Your Contacts:

An easy way to get started is by using a mobile app called Export by Covve. This app costs just a couple of dollars and allows you to export all the contacts from your phone into a spreadsheet. You can then upload this spreadsheet to your CRM and start making calls to your sphere of influence in addition to your past clients.

Simple Script for SOI Calls:

Here’s a simple script you can use when making these calls: “Hey, it’s Frank. I’ve got my business hat on. I’m just making sure you know what I’m doing these days. I’m doing mortgages in California. If you know anybody that needs my help, let me know.”

Every person I’ve ever spoken to was happy to hear from me and appreciated the information. These calls are super easy and can have a significant impact on your business.

Action for Today:

Make it a point to reach out to your sphere of influence and your past clients. If you’re not making these calls, it’s time to get over any call reluctance and start connecting. The benefits far outweigh the initial discomfort.

Need Help?

If you need help with this, reach out to us at DailySuccessPlan.com. We’re here to support you in making these important connections.

Today, I want to talk about a key ingredient to success that often gets overlooked: the burning desire to win. Recently, I had the pleasure of interviewing Melissa Tucci, a real estate agent in San Diego, California, for the Agent Animals podcast. Her story is nothing short of inspirational.

Melissa Tucci’s Story:

Melissa is an individual agent who, in the past 12 months, has completed 107 transactions. At her peak, she managed to close 179 deals in a single year. What makes her achievements even more remarkable is that she does it all with just a couple of assistants and no agents working underneath her. Despite the challenging market conditions in June 2024, where many agents and loan originators are struggling to get business, Melissa has continued to thrive.

What Sets Melissa Apart?

1. Drive and Dedication: Melissa is one of the most driven and dedicated people I’ve ever interviewed. She loves her business and works incredibly hard every day. Her motivation is not just about monetary gain; it’s about the sheer desire to excel and outperform herself and others.
2. Resilience and Independence: Melissa has always found her own way, overcoming obstacles and powering through challenges. She never lets anything or anyone stop her from achieving her goals. Her focus and determination are truly inspiring.
3. Official Realtor of the San Diego Padres: Melissa’s exceptional performance has even earned her the title of the official realtor of the San Diego Padres, highlighting her stature and success in the industry.

Takeaway for Loan Originators:

Melissa’s story underscores the importance of having a strong desire to win. This desire is often fueled by knowing your “why”—the deeper reason behind your goals. Here are a few ways to cultivate that winning mindset:

1. Set Clear Goals: Know exactly what you want to achieve and set specific, measurable goals to get there.
2. Stay Motivated: Find what drives you beyond monetary gains. Whether it’s personal satisfaction, helping others, or beating your own records, keep that fire burning.
3. Be Resilient: Don’t let obstacles deter you. Find ways to overcome challenges and keep moving forward.
4. Continuous Improvement: Always look for ways to improve and outperform your previous achievements. Compete against yourself and strive for excellence.

Action for Today: Reflect on your own desire to win. Are you as driven as Melissa Tucci? Identify your “why” and let it fuel your passion and dedication to your business.

PS: To learn more about how we can help you grow your business and develop a winning mindset, visit DailySuccessPlan.com. Don’t forget to join our free live Zoom coaching calls every Monday to Friday from 8:30 AM to 9:00 AM ET at LoanOfficerBreakfastClub.com. Also, register for our upcoming Loan Officer Boot Camp on July 18-19, 2024, by visiting MastermindRetreats.com.

Today, I want to talk about the peace that comes from having a proven plan and working it consistently. In the world of mortgage origination, the path to success can often feel uncertain and chaotic. However, when you have a solid, proven plan in place, and you follow it diligently, you can find a sense of peace and assurance knowing that the results will come.

The Power of a Proven Plan:

1. Consistency Breeds Confidence: When you follow a structured plan, you eliminate the guesswork. You know exactly what steps to take each day, which builds confidence in your process and your ability to achieve your goals.
2. Predictable Results: A proven plan has been tested and refined over time. By sticking to it, you align yourself with a methodology that has consistently produced positive outcomes. This predictability allows you to focus on the process rather than worrying about the results.
3. Reduced Stress: Uncertainty and lack of direction can create a lot of stress. When you have a plan to guide your actions, it reduces anxiety and helps you maintain a calm and focused mindset. You can trust in the process and know that, as long as you work the plan, the results will follow.
4. Adaptability: While having a plan is crucial, it also allows for flexibility. You can make informed adjustments based on real-time feedback and changes in the market, all while staying grounded in your overall strategy.

Action for Today: Reflect on your current business plan. Are you following our proven plan with Mortgage Marketing Animals consistently? If not, identify the areas where you can improve your adherence to the plan. Remember, peace comes from knowing you are doing the right things consistently. Trust the process, and let the results take care of themselves.

PS: To learn more about how we can help you grow your business and develop a proven plan, visit DailySuccessPlan.com. Don’t forget to join our free live Zoom coaching calls every Monday to Friday from 8:30 AM to 9:00 AM ET at LoanOfficerBreakfastClub.com. Also, register for our upcoming Loan Officer Boot Camp on July 18-19, 2024, by visiting MastermindRetreats.com.

Today, I want to talk about a crucial strategy in our business: keeping the bench full. Think about a football team. They can’t rely solely on their starters; they need a deep bench of skilled players ready to step in at any moment. The same principle applies to our referral partners.

Even if you have a solid group of 10, 15, or even 20 great referral partners, you can’t get complacent. Here’s why:

1. Uncertainty: Referral partners might move to a different state, retire, or change their focus. Their circumstances can change, affecting your pipeline.
2. Business Variability: Some partners may dwindle in their business over time, becoming less aggressive and successful than they once were. This can directly impact your volume of referrals.
3. Relationship Dynamics: Relationships can evolve. A partner might decide they no longer want to work with you for various reasons.

To ensure your pipeline stays robust and healthy, you must continuously bring new referral partners into the mix. In our coaching program, we do this by consistently prospecting for new partners using a systematic approach.

Keeping the Bench Full:

1. Qualified Agents Lists: We start by creating and updating lists of qualified agents. For us, a qualified agent is one who has closed at least eight buy-side transactions in the past 12 months. These lists are crucial for targeting agents who are actively producing business.
2. Consistent Calling: With our lists in hand, we make regular calls to set up appointments with these agents. The goal is to introduce ourselves and start building a relationship.
3. FROG Method: During these appointments, we use the FROG method—Family, Recreation, Occupation, and Goals. This approach helps us get to know the agents personally and professionally, laying the foundation for a strong partnership.
4. 12-Week Follow-Up: After the initial meeting, we stay in touch with these agents over a 12-week period. This consistent follow-up helps us build trust and begin to generate business from these new partners.

By following this disciplined approach, we ensure that we are always adding new players to our bench and keeping our pipeline full. This proactive strategy prevents us from becoming complacent and ensures long-term success.

PS: To learn more about how we can help you grow your business, visit DailySuccessPlan.com. Don’t forget to join our free live Zoom coaching calls every Monday to Friday from 8:30 AM to 9:00 AM ET at LoanOfficerBreakfastClub.com. Also, register for our upcoming Loan Officer Boot Camp on July 18-19, 2024, by visiting MastermindRetreats.com.

Today, I want to address a common mental trap that many loan officers fall into—the use of absolute terms like “everyone,” “nobody,” “all,” and “none.” These words can significantly impact your mindset, motivation, and discipline. Let’s break this down and see why it’s important to avoid these absolutes.

The Fallacy of Absolutes:

When making calls or seeking new business, it’s easy to become discouraged if you hear a few “no’s” or encounter some challenges. You might start thinking, “Everybody says no,” or “Nobody has any business right now.” These thoughts can destroy your motivation and discipline to keep pushing forward. However, these statements are rarely true.

Reality Check:

1. “Everyone” and “Nobody”: It’s not everyone saying no or nobody having business. In reality, only some people might say no, and some agents might not have business right now. But many others are still actively seeking opportunities and partnerships.
2. “All” and “None”: Similarly, not all agents have another loan officer they work with, and not all markets are slow. There are always pockets of activity and agents looking for reliable partners.

Proof Against Absolutes:

If absolutes like “everyone,” “nobody,” “all,” and “none” were true, then why can we have two loan officers in the exact same market with vastly different results? One loan officer might be excelling while the other struggles. This disparity is proof that absolutes are a fallacy. Success is often a result of persistence, mindset, and strategy.

The Power of Perspective:

By shifting your perspective from absolutes to specifics, you can maintain a more positive and realistic outlook. Recognize that while some might not be interested or currently busy, many others are open to new opportunities. This mindset helps you stay motivated and disciplined in your outreach efforts.

Action Steps:

1. Acknowledge the Positive: Focus on the positive responses and opportunities you encounter, no matter how few. Each yes is a step forward.
2. Avoid Absolutes: Consciously avoid using absolute terms when assessing your situation. Replace “everyone” and “nobody” with “some” and “many.”
3. Stay Consistent: Keep making calls and reaching out, knowing that each interaction is an opportunity to find those who are ready to work with you.

Remember, the market is full of opportunities, and your success depends on staying disciplined and maintaining a realistic, positive mindset.

PS: To learn more about how we can help you grow your business, visit DailySuccessPlan.com. Don’t forget to join our free live Zoom coaching calls every Monday to Friday from 8:30 AM to 9:00 AM ET at LoanOfficerBreakfastClub.com. Also, register for our upcoming Loan Officer Boot Camp on July 18-19, 2024, by visiting MastermindRetreats.com.