Daily Spark Blogs

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.

Inspired by my recent podcast interview with Chris Johnstone, I want to talk about the importance of adapting to change. During our conversation, Chris highlighted how business rankings are increasingly driven by AI rather than traditional Google reviews. This shift presents both challenges and opportunities for us in the mortgage industry.

1. Embrace the New: Technology, especially AI, is transforming how we do business. Instead of resisting these changes, look for ways to integrate new tools and strategies into your workflow. Whether it’s using AI for business recommendations or enhancing your marketing efforts, embracing new technologies can give you a competitive edge.

2. Continuous Learning: Stay updated with industry trends and advancements. Attend webinars, read industry publications, and participate in training sessions. The more you know, the better equipped you’ll be to adapt and thrive in a changing environment.

3. Flexibility: Be open to changing your approach. What worked yesterday might not work tomorrow. Being flexible allows you to pivot quickly and take advantage of new opportunities as they arise.

4. Resilience: Change can be tough, and it’s easy to feel overwhelmed. Building resilience helps you stay focused and positive, even when facing challenges. Remember, every change brings new opportunities to learn and grow.

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.

Good morning, everyone!

Today, I want to share a personal experience that gave me a fresh perspective on focus and clarity. I went on a solo motorcycle ride, which offered me a unique opportunity to think deeply about our business while staying intensely focused on the ride itself.

As I navigated the twists and turns, I had to be completely present to ensure my safety and handle the motorcycle properly. This intense focus on a single task freed up my mind to think clearly about other aspects of my life and business. It was a strange but enlightening experience—balancing the need to stay sharp on the road with allowing my mind to wander and reflect.

This ride made me realize the importance of finding moments where we can be fully engaged in one activity while also giving ourselves the mental space to process and plan. Whether it’s a solo drive, a walk, or any activity that requires concentration, these moments can help us gain clarity and think more strategically about our work.

Key Takeaways:

1. Intense Focus Can Clear the Mind: Engaging in an activity that requires your full attention can paradoxically free up your mind to think more clearly about other things.
2. Balancing Engagement and Reflection: Finding activities that demand focus while allowing for mental reflection can help you gain new insights and perspectives.
3. Practical Application: Try incorporating moments of focused activity into your routine, such as exercise, hobbies, or anything that requires concentration. Use these times to think about your business goals and strategies.

When was the last time you found clarity during an unexpected moment of focus? How can you incorporate these moments into your daily routine to improve your business and personal life?

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.

Takin’ Care of  Business!

Fridays are not just another workday; they are a time to improve our processes, systems, and technology. This involves:

1. Evaluating Processes: Review the efficiency of your workflows and identify bottlenecks.
2. Improving Systems: Assess the effectiveness of your CRM systems, marketing platforms, and other tools to ensure they’re optimized.
3. Leveraging Technology: Explore new technologies or software that can automate tasks and enhance productivity.
4. Brainstorming Sessions: Hold team meetings to generate new ideas and strategies.
5. Training and Development: Invest in learning new skills that can benefit your business.

Evaluating Profitability

Another key focus is assessing profitability:

1. Assessing ROI: Regularly review your investments to ensure they’re yielding the expected returns.
2. Budget Analysis: Compare expenditures against the budget and adjust strategies accordingly.
3. Evaluating Virtual Assistants: Ensure that outsourcing tasks is cost-effective and beneficial.
4. Cost-Benefit Analysis: Determine if each investment is worth continuing.

Maintaining Work-Life Balance

Finally, it’s essential to ensure that your business doesn’t consume your entire life:

1. Work-Life Balance: Set boundaries to maintain personal time.
2. Time Management: Maximize productivity during work hours.
3. Delegation: Delegate tasks to avoid becoming overwhelmed.
4. Personal Well-being: Make time for activities that support your well-being.
5. Family and Community Involvement: Spend quality time with family, friends, and engage in community activities.

Remember, the goal is to create a sustainable and successful business that doesn’t take over your entire life.

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’s message is about recognizing the true value of our efforts as mortgage loan originators. Too often, loan officers will do anything other than make a phone call to generate business because of call reluctance. Instead, they invest in all kinds of online leads that often don’t pan out as hoped.

Consider this: the typical conversion rate for online mortgage leads ranges from 1% to 5%. Even at the higher end, these are not impressive odds. When you pay for an online lead, you’re likely converting a very small percentage into actual clients. This is why it’s so crucial to focus on tried-and-true methods that yield better results.

One of the most effective strategies is to be quick in responding to our referral partners and inbound leads. Speed and persistence are key. Additionally, it’s essential to continually make more offers. This means consistently asking our existing clients, active clients, past clients, and referral partners for more business. When you receive a referral, there’s a high chance that the borrower won’t even speak to another originator if you respond quickly and professionally.

If you’re part of the Mortgage Marketing Animals, you have access to the Real Time Referral Program—a system that helps you generate genuine referrals. It relies on being disciplined and knowing when and how to ask for referral business. This program works beautifully and positions you to confidently answer when a real estate agent asks, “How are you going to get me some business?”

Remember, if the shoe doesn’t fit, don’t wear it. Don’t waste your resources on low-yield strategies when you have proven methods at your disposal.

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 Bootcamp on July 18-19, 2024, by visiting MastermindRetreats.com.

Today, I want to dive into a concept that might seem a bit counterintuitive at first: the idea that great leaders are, in essence, exceptional followers. This might sound strange, but if you take a closer look at the high achievers and admired figures within our Loan Officer Breakfast Club and the Mortgage Marketing Animals coaching organization, you’ll notice a common thread—they excel at following.

When we refer to leaders in our industry, we often think of top producers, those who have achieved remarkable success and are admired by their peers. But what sets these individuals apart? It’s their ability to follow effectively.

Following the Plan

First and foremost, these leaders are diligent followers of a structured plan. They understand that success doesn’t come from sporadic efforts but from consistent and focused actions. The Daily Success Plan is a prime example. Our top producers follow this plan meticulously. They don’t deviate or give up when the going gets tough. Instead, they stick to the plan, day in and day out, because they know that consistency is key to achieving their goals.

Following Through

Beyond just following a plan, these leaders also excel at follow-through. It’s one thing to start a strategy or initiative, but it’s another to see it through to completion. High achievers don’t just work on their strategies for a short period and then abandon them. They persist, they adjust as needed, and they ensure that they follow through on every aspect of their plan. This persistence and dedication are what ultimately lead to their success.

Mastering Follow-Up

One of the most critical elements of their success is their mastery of follow-up. Effective follow-up is an art, and top producers have perfected it. They don’t just follow up once or twice; they commit to a minimum of 12 follow-ups. Whether it’s 12 weekly calls or 12 daily touches, they ensure that they stay top of mind with their prospects and clients. This relentless follow-up is what sets them apart and helps them build strong, lasting relationships.

Becoming a Leader by Being a Great Follower

If we aspire to be leaders in the industry, individuals whom others look up to and wish to emulate, we must first become great followers. This means committing to a plan, seeing it through, and mastering the follow-up process. It’s about understanding that success is not an overnight achievement but the result of persistent and consistent efforts.

Conclusion

So, the next time you think about what it takes to be a leader, remember that it starts with being an exceptional follower. Follow the plan, follow through on your strategies, and master the art of follow-up. By doing so, you’ll not only achieve your own success but also inspire and lead others to do the same.

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 AI Bootcamp on July 18-19, 2024, by visiting MastermindRetreats.com.

Today’s message is about recognizing when a relationship just isn’t the right fit. As mortgage loan originators working the Marketing Animals Daily Success Plan, we seek out new referral partners every day. We reach out, set up meetings, get to know them, follow up consistently, and hopefully, start to get some referral business. But along the way, we sometimes discover that we’re just not a good fit with certain partners.

Maybe their way of doing business doesn’t align with ours. It could be a personality clash, or perhaps another reason that makes the partnership feel off. Many originators try to force these relationships to work because they don’t want to lose the potential business. However, this can lead to an unpleasant or uncomfortable work experience, which isn’t necessary.

If the relationship doesn’t work, it’s okay to let it go. This doesn’t mean there’s anything wrong with the referral partner; it simply means the fit isn’t right. At Mortgage Marketing Animals, we continuously reach out to new referral partners because things change. Personalities and work ethics come to light, allowing us to be more selective with our relationships.

Remember, if the shoe doesn’t fit, you don’t have to wear it. Keep seeking out those who are a better match for you and your business.

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 AI Bootcamp on July 18-19, 2024, by visiting MastermindRetreats.com.

Today, I want to talk about the importance of shining during a purchase transaction. When we, as mortgage originators, have a transaction going and there’s a listing agent involved, it’s our time to really impress. This is a golden opportunity to convert that listing agent into one of our referral partners by dazzling them with our professionalism and dedication.

Here’s a personal experience to illustrate this:

I have a transaction going right now, and I always make sure to focus on three critical contingency dates that matter to any real estate agent: the appraisal contingency, the loan approval contingency, and the close of escrow. Right after the transaction starts, I make a point to call the listing agent. During this call, I let them know that I understand these contingency dates and that I will work diligently to meet them.

Consistent communication is key. With the Mortgage Marketing Animals, we update our agents every single Tuesday. In my updates, I always talk about the contingency dates, making sure to inform them about our progress and if there might be any issues in meeting those dates. If I foresee any trouble, I let them know well in advance.

This approach has proven to be incredibly effective. For example, I recently closed a transaction where I kept the listing agent updated every Tuesday, focusing on those contingency dates. At the end of the transaction, which closed perfectly, the listing agent told me I was the best lender she had ever worked with. She committed to using me as her lender for all future transactions.

Remember, when we handle these transactions with care and clear communication, we can convert listing agents into loyal referral partners. So, let’s make every transaction an opportunity to shine!

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 AI Bootcamp on July 18-19, 2024, by visiting MastermindRetreats.com.