For many mortgage pros, the relationship they share with Realtors is one of complete dependence. This gets complicated when the Realtor doesn’t have the same level of motivation as the lender. How can you stop being reliant on under-ambitious Realtors and start attracting the top dogs whose motivation matches yours? Is there a way for you to stop using all your energy making appointments with bottom-feeding agents? On this episode, I outline the steps you can take to get the results you deserve.
Build a tribe of superstars. You’ll not only have a lot more fun, but also a lot more funds.- Doren Aldana
Working harder is not always the answer. If you’ve been putting in the hard yards and you’re still not seeing results, you need to rethink your strategy.
Aim to gain motivated, top producers as your partners. There is no use working with people if your ambition dwarfs theirs.
Focus on what makes you unique and valuable. The best way to partner with top producers is by making them realize you’re not only the best choice, but the only choice.
On this episode, I share the story of a client whose hard work was not paying off. It turns out, nothing was working because she wasn’t proving she was indispensable. As I point out, highlighting your unique capabilities is crucial if you want to get ahead.
I also covered:
The necessity for building relationships with your partners.
Why you have to bring value in multiple areas.
Why it’s more effective to have deep connections with a smaller group of top producers than weak connections with a wide database.
Traditionally, mortgage professionals have been taught that the best way forward is by making cold calls and setting up appointments with as many Realtors as possible. The problem is that you’re likely to spend more of your time, only to end up making weak connections with under-ambitious agents that don’t guarantee any loyalty. Why jump through extra hoops when modern technology provides an alternative? You can start establishing better relationships with top producers and begin to see better results. Identify what makes you uniquely valuable, and you’re already a step in the right direction.
For many mortgage pros, the idea of calling prospective clients or Realtors is filled with anxiety and general reluctance. Why is this the case? What’s causing your hesitation to pick up the phone and ask a Realtor to meet with you? You know you’re the person for the job, so what’s stopping you? It’s time to flip the switch on this. Let’s find out how you can stop avoiding calls and start seeing breakthrough results.
The single biggest reason why you have call reluctance is because you’re lacking compelling, unique value to inspire a conversation. -Doren Aldana
Go into calls knowing your worth. You need to be compelling and unique to attract attention. This is something to remember when looking at your strategy and your selling points.
When pitching to prospective clients, avoid overtly ‘selling’ to the person you’re speaking to. Approach the calls as conversations rather than strictly business.
Find systems that make attracting clients easier. This is working smarter, and it’s important to remember that in business, you want to find the easiest way to make the most money.
On this episode, I start with an example of cold calls being intentionally avoided. The reason for these calls being avoided was the irritation they caused for the prospective client. After identifying what caused the irritation for the person on the phone, I go into four areas you should focus on to avoid being sidestepped.
I also covered:
Why it’s important to do more than merely pitch your services and discuss your experience.
That you need to find what makes you unique to excite potential clients.
The necessity to look at the core cause of your call reluctance- you’re probably working harder than you need to.
You already know calling Realtors is important for your business, but it doesn’t have to be something that makes you uncomfortable. With a few tweaks to your game plan, you can go from being the phone call that realtors avoid to being a valued conversation partner. Once you do that, success is imminent. Become the mortgage professional Realtors want to refer.
It’s frustrating to be in meeting after meeting with real estate agents without seeing any results. What could you be doing wrong? More importantly, what do you need to do right in order to attract the right partners? On this episode, I explain how to attract top-producing Realtor partners who make you their exclusive lender (while working on YOUR terms, not theirs), without begging, chasing or bribing.
Become that which you are trying to attract - Doren Aldana
Know what you want to attract and refuse to accept anything less. By the same token, remember that you’ll need to embody the same values you aim to attract.
To establish business partnerships with real estate agents, it’s important to establish personal relationships with them as well.
For potential partners to value you, you have to demonstrate that you value yourself.
At the start of the show, I talked about the frustration of trying to get an exclusive lender agreement and what we need to bring to the table in order to win agents over. I talked about the importance of not settling for less, and the power of approaching business relationships the same as personal ones. I also talked about the difference between wanting success, and actually working for it.
I also shared:
The importance of knowing what you want
Why you need to always deliver on your promise
One way to ensure your success
Identify what you want and know that you’re capable of achieving it. Just be sure to keep putting in the "hard yards". Once you can identify your goals, it becomes easier to shut down any offers that deviate from the path to realizing your dreams.
We’ve been programmed to believe that it’s foolish to believe in our biggest dreams, and that we should instead be realistic and reasonable. How does this get in the way of us actually doing what we were put on this earth to do? When people are realistic and reasonable, how does this manifest in their behavior, choices, and actions? How do the most successful and inspiring people respond to the pressure to be realistic? On this episode, I talk about why we need to break the paradigm of being realistic and reasonable if we want to achieve our Big, Hairy, Audacious Goals, and how to make the necessary shifts in perspective.
I can have it exactly the way I want it if I don’t settle. That is the champion’s mantra. -Doren Aldana
Our loved ones tell us to be realistic because they don’t want us to get disappointed when we try to reach for higher ground. They’ve experienced disappointment themselves and project what happened to them onto us.
Being reasonable reinforces our lack, scarcity and inadequacy and powerlessness.
When we believe that we have to be realistic, we allow ourselves to be the effect and not the cause of everything that happens to us.
At the start of the show, I talked about where the idea of being realistic and reasonable comes from and why it’s something we have to get away from if we want to succeed. Next I talked about the inspirational people who proved to us that the true path to success starts when we choose to do the unprecedented, the unreasonable and the unrealistic. I also discussed the true path mediocrity.
I also discussed;
How to go after our goals without holding back
How to shift our perspectives
The danger of having a herd mentality
The truth about successful and inspirational people is that they brought unreasonable faith, effort, excellence and drive in order to achieve what they did. The true path to unstoppable and incredible success is being unreasonable and unrealistic, and going against what the herd says.
Many people falsely believe that taking a long time with decisions, deliberating, and trying to be risk averse is going make them more successful. Why does indecision do massive and catastrophic damage to our goals and dreams? What is the law of diminishing intent, and how do we fight it? What does it take to become powerfully decisive? On this episode, I talk about how to beat the beast of indecision and get closer to the life of our dreams.
Indecision is a decision to prolong the problem and to allow it to persist. -Doren Aldana
When we soften the problem, we stay stuck in a rut of stagnation and regression.
Your income, relationships, and results are the effect of you and the action you do or don’t take.
You have to make an intention and get into action before the procrastination and delay set in.
At the start of the show, I talked about how taking time to make decisions and being risk averse can actually slow down or stop our growth completely. I talked about the opportunities we are given each day to follow through on the discipline that will lead to our desired results. I discussed why it’s so important for us to build our decision making muscle. I also talked about the law of diminishing intent and how we can starve it of its power.
I also discussed:
Delusional optimism and how it trips us up
How indecision derails us from taking proactive action
Our responsibility in the outcomes we get in our lives
Indecision will kill our success, momentum, leadership, and ability to create breakthrough results. To solve it, we have to feel the pain of a problem enough to take an action and stop using softeners to create a false sense of safety. We have to strike when the iron of motivation and inspiration is hot because that’s the moment it is most malleable to our dreams.
If we leave it too long, the iron cools and we become victims of the law of diminished intent and it becomes easier to make excuses, procrastinate, and spend another day eating the bread of mediocrity.
We all envy the people who seem to have an unlimited amount of motivation— the people who are successful both in business and in their personal lives. What makes some people so good at sticking with their goals? What’s the difference between being interested in changing our lives vs. committing to the change? And what are some of the ways we can push ourselves outside of our comfort zone? In this episode, I talk about how taking the first step towards massive success starts with making a big commitment.
The interested always find an excuse. The committed always find a way. -Doren Aldana
The difference between being interested and being committed to success is dedication. When we’re committed, we do what it takes every single day— even when times get rough.
Softening the problem is a slippery slope to mediocrity. When we tell ourselves that those extra pounds are just our big bones, or when we diminish our problems, we avoid being committed to solving them.
Daily routines make or break our success. If we don’t invest our time in our personal growth, we can’t achieve our goals. Every day of our life needs to be planned ahead of time.
At the beginning of the episode, I talked about the difference between being interested in something and being committed to something. Next, I explained how easy, yet dangerous, it is for us to soften our problems and make them seem smaller than they really are.
I also covered:
Why we need to invest in our personal development to grow professionally
The price we pay for success and how to avoid a lifetime of regrets
How mentors can help us find shortcuts to success
The best way to find out whether we’re committed or just interested in achieving success is to ask ourselves if we’re willing to step outside of our comfort zone. Because commitment changes our priorities and the way we look at what happens around us, it makes us work hard regardless of our situation. When we’re just interested, we aren’t motivated enough to feel uncomfortable or make sacrifices to achieve our dreams.
No tactic can save us from living paycheck to paycheck if our mindset doesn’t change. The way we think is the root cause of our behavior -- and ultimately, our results. What is the definition of our emotional home? How do our emotions and mindset impact our work and personal routine? Why do we need to learn to be HAPPY NOW, even when what happens around us isn’t ideal? In this episode, I talk about the mindset of top achievers and how you can change the way you think to create an extraordinary life -- built by design -- filled with passion, purpose and prosperity.
The achievers don’t achieve to be happy. They find a way to happily achieve. -Doren Aldana
Our emotional home is where we are emotionally most of the time. It’s how we wake up every day— either being excited that it’s a new day, or dreading our work. This attitude impacts the way we perform as business owners.
The way we see ourselves depends on our perspective. If we need external factors to make us happy all the time, we’re always in danger of losing our happiness.
If we want to improve the quality of our life, we need to improve the quality of the information we consume as well as our environment.
At the beginning of the episode, I explained what our emotional home is and how it impacts our willingness to work hard and get results. Next, I covered why we shouldn’t rely only on external factors to be happy, and how we can achieve emotional freedom from life’s challenges and obstacles.
I also covered:
Why living in a comfort zone prevents many people from reaching greatness
Why building a business is all about problem-solving and how we can get better at solving problems instead of running away from them
How we can stop feeding our mind with negative thoughts
Success starts with our mindset; with how we see life and ourselves in it. We can’t progress if we don’t have the mental power to look forward to life’s challenges. We can’t solve problems if we avoid them at all costs. There are two ways we can look at life. We can choose to be happy only when good things happen, which means we’re always dependent on what occurs around us, or we can make the decision to happy with ourselves regardless of everything else. We must accept the fact that in order to take control of our lives, we have to stop fearing and running away from challenges. As entrepreneurs, we’re problem-solvers, and that means we address problems head-on.
We’re all told that massive success takes years of grind and personal sacrifices. How do some business owners reach their goals faster than others? What role does mentorship play in finding shortcuts to success? What are some of the most common sales tactics that aren’t worth doing? And what should we do instead? In this episode, Jason Cope shares how he learned to focus on effective tactics, enjoy his work, and grow his business from almost nothing to $1M per month.
You just have to work smarter, not harder. -Jason Cope
Cold calling works, but it isn’t the best tactic. It takes a lot of time, and in the end, very few people are interested in working with us after cold calling.
We should focus on prioritizing who we call. Not all of the people in our database have the same problems.
If we choose our business partners only based on profit potential, we might end up miserable because we have to interact with people we don’t like on a regular basis.
At the beginning of the episode, we talked about why cold calling occasionally works, but also how it can make our journey to success more painful. Next, we talked about prioritizing certain contacts in our database and surrounding ourselves with people who energize us and make our job more fulfilling.
We also covered:
Why we need to ditch the idea that only hard work and grind leads to results
How automating mundane tasks can give us more free time
Why we should strive for progress, not perfection
The first investment we have to make is in ourselves. Building habits that grow our knowledge and make us more confident are essential to success. We have to become more intentional with how we spend our time instead of using our free hours to watch Netflix. Reading more, meditating, and practicing visualization are all ways we can improve ourselves and become better in all aspects of life.
Jason Cope is a loan consultant with a background in commercial real estate. He has experience in global financial markets, procurement processes, and loan valuations. His aggressive marketing tactics combined with a deep understanding of his market enabled him to help many of his clients get the home of their dreams.
Inconsistent income is the biggest nightmare for most mortgage pros. Yet, instead of fighting against it, many MLOs consider it to be “normal” and just learn to live with it. How can we escape this “average” mindset, and how does having low expectations impact our income? How can we become more consistent with our marketing efforts -- and results? Why do we need systems in our business to do the heavy lifting for us? In this episode, I talk about how to overcome one of the most common struggles: inconsistent income.
Success is not easy. If it was, everyone would be fit, rich, and happy. -Doren Aldana
Not having consistent income is a symptom of issues, not the root cause.
When we see ourselves as winners, we do whatever it takes to make our vision a reality. When we see ourselves as average, we take an average course of action.
One of the biggest reasons why we experience income inconsistency is the fact that we don’t have a daily schedule that includes lead generation.
At the beginning of the episode, I talked about why we need to have a winner mindset and how thoughts about prosperity lead to actions that create wealth. Next, I spoke about the importance of consistently generating leads.
I also covered:
Why we need automated marketing processes to generate leads
How a mentor can help us get to where we want to be faster
The difference between dreamers and doers
The best way make our income more consistent and predictable is to put together marketing systems that generate leads on autopilot. This way, we free up some of the tasks that we have on our plate and create more consistency in our course of action. When we aren’t backed up by systems, the moment when we stop showing up, even for a day, the lead generation machine stops.
Another important component to making our income more predictable is having the right mentor on our side. It needs to be someone who already knows the ins and outs of the industry and can show us shortcuts.
Let's face it: The mortgage pros who track their numbers and have systems in place to hold themselves and their team accountable to results, tend to be more successful than those who don't. What are the key metrics we should focus on? How much should we be paying per lead or per client? What activities generate the highest ROI? In this episode, I talk about how we can make powerful progress by tracking key metrics and bringing structure to our business.
Not having data is like driving blindfolded and trying to stay on track without the feedback of vision. -Doren Aldana
We can’t improve what we can’t measure, and the best way to measure how we spend our time, on what we spend our time, and how efficient our tactics are is to look at KPIs (key performance indicators).
We have to take steps toward knowing where we are when it comes to our income, how many hours we spend being productive, and what activities drive our business.
The goal metrics umbrella includes metrics such as income, funded loan volume, units closed, and leads. When it comes to activity metrics, tracking calls is one of the most important.
In the beginning of the episode, I talked about how important it is to know where we stand, what drives clients to our business, and what our current income is. From there we can start focusing on goal and activity metrics.
I also covered:
Funnel metrics (cost per lead, cost per app, cost per closing, ROI)
Database metrics (repeat and referral business from past clients)
Conversion metrics (lead to app ratio, app to closed deal ratio, lead to closed deal ratio)
We can’t live the life we want if we don’t keep an eye on our progress. Looking at our current numbers and tracking everything might leave us a bit anxious, but we don’t have to be perfect. Just be better than we used to be last week. But in order to make progress we need to learn more about the key metrics that drive income and find out what areas in our business we’ve mastered and what needs to be improved.
Learn what it REALLY takes to build a THRIVING mortgage business, doing what you LOVE, without relying on cold calling or annoying Realtors. Hosted by Doren Aldana, founder of MortgageMarketingCoach.com and several highly-acclaimed training programs, including the Client Acceleration Formula and the 7-Figure Lender Academy.