How myHomeIQ Helps You Grow Your Business

In today's highly competitive mortgage industry, building profitable relationships with the real estate agents is essential for success. However, finding effective ways to secure agent relationships can be a challenge. With so many mortgage loan originators vying for the attention of real estate agents, it can be difficult to stand out and establish meaningful connections. Our new case study featuring loan officer Chris Cogill is a must-read. Chris has closed a remarkable 36 million in funded loans from agent referrals. And in this case study, he shares his proven strategies for building strong relationships with real estate agents and leveraging those relationships to drive more business. To get your hands on this resource, head over to LOKestudy.com and download your free copy of the case study today. You'll find actionable insights and practical tips that Chris used to close 36 million in funded loans from agent referrals and how you can, too. Don't miss out. Go check it out right now, visit LOKestudy.com and download your free copy today. We send out relevant information that they care about. And that's why we have 84% email open rate, right? It's incredible to be able to achieve that kind of statistic and how we're doing that is because we're giving information to homeowners, information that they care about, which is them and ways they can build wealth with one of their largest assets that they own. And so whenever the rates drop, home values, all that information is available to them at their fingertips. Hey, Listers, what's up, Jeff? I'm Jim for Mortgage Marketing Radio. Thanks for tuning in to the podcast. I'm grateful that you're a listener. And by the way, if you haven't left us a review yet, please do so where you're listening to this right now. You can tap on your mobile phone and just click over to the reviews section. Find those. Those little three dots, wherever that's at. And they was a review. We would greatly appreciate that. You could also do it on Google search for Mortgage Marketing Institute on Google. Leave us a little review there. We'd greatly appreciate that as well. We got a great topic and guest coming to you here in just a couple of moments. But before we do, I want to share a story with you. I want to share a story with you about understanding, right? There's lots that you could be doing in your business, but it's more important to do what works and what's most important actually right now. So I want to talk to you about the concept of doing the boring work versus chasing shiny objects and staying focused on the goal. So what's your goal? We're reaching the end of the year. We're going to 2023, perhaps it's time to evaluate your sources of business, how effective and fruitful some are. And then considering, you know, what do you do? A lot of people are at this time in the in the year where they look at changing things, right? And they're like, they look at what they're currently doing. I'm not getting enough from this or this X here. So I'm going to totally remove this and not do it anymore. I'm going to go over here, right? And do something else. And I'm going to completely reassemble or disassemble my business. Well, on the surface, that may sound good. The reality is, is that distractions, right, can often lead us down the wrong path. Why? Because success comes down to doing the obvious for an uncommonly long period of time, right? Without convincing yourself that you're smarter, you are, right? You switch from, you switch around, you bounce around, new strategies, you try and implement too many things at once. And therefore, you become deluded, lose your focus, lose your power. You can never really build any true momentum. And even more importantly, as you never really get good at something, right? So first, in order to do something that's going to generate business, you've got to get good at it, right? You've got to then get better, right? Only then, once you've really optimized that thing of getting business, be it realtors, referral partners, be it whatever you're doing for marketing, video marketing, you know, I don't care what it is, that thing that you're doing, right? You've got to get better before you can go new. So does that make sense, right? You don't need a fancy plan, you just have to be willing to get a consistent momentum and progress, moving the change, so to speak, right? And with that, I'd like to share with you a quick story that one of my members sent with sent, put it in the Facebook group, our private group. And as you know, we talk a lot about getting not only starting out good, getting better, right? And consistently getting yardage, moving the chains by leading with education. In the context of real estate agents, you're going to need more agents that you've needed in the past. Why? Some are leaving. Why? There's less business to go around, right? And some of the big fish are eating some of the smaller fish. And so I talk to many, many originators and they, when they come into my community, I ask them, how many agents do you currently have on your roster? How many do you work with? Usually it's somewhere around five or 10, right? You're going to need 20. You're going to need 40, right? Especially if you're ramping up and building up. I remember we had Denise Donahue and our private group a couple of weeks ago. And if you look at MMI, her list of real estate agents that she works with, there's got to be over 50 on there, right? And I can't remember what she said, but her database of real estate agents is in the hundreds. And you think most top producing originators are getting, you know, 30, 40, 50 loans a year from real estate agents. It's just inaccurate. They're not. If you can get 6, 8, 10 loans from a realtor per year, you're doing great. I'm not going to get into all the reasons why and are there's exceptions? Of course, there's always exceptions to every rule. But you know, when you look at the numbers and if you're going to get eight or 10 closed loans, right, a year, you want to close 100 loans a year, right? How many realtors do you need? Well, a minimum of 10 that are going to be able to fulfill and deliver on that. But you know, that's not how the numbers work out. So you're going to need 30, 40, 50, perhaps more of those better question. Are you building your agent database? You build your past client database. Why not build your agent database? Why not provide for them, right? Why not deliver a communication, something of usefulness, of relevance that establishes you as the pre-eminent mortgage professional in their community? Why not lead with education? Like our friend, our member, Liz LaFour did. So she posted this in the group the other day, don't teach somebody classes. They said, pick one topic and just teach that. So it's easier. They said, is this really working for you? They said, I'm not seeing the production like XYZ person. They said, here's what Liz said, don't let anyone tell you that classes don't work. I couldn't believe my last employer and the things he said because I wasn't closing like XYZ person. Liz goes on to say, FYI, this isn't a short game, it's a long game. And FYI, Mr. Past employer, maybe someone doesn't want to work 24, 7 has a family and kids, they want to be present for it. So they want to work smarter. They want to do leveraged activities. Liz goes on to post her second class, agent classes, she's teaching of the month, she has 38 reservations, right? All of a sudden it grows to 48 registered, 23 agents to 10. She collects four new Google reviews on her Google business profile. She sets two appointments immediately. She gets three emails from agents asking her to work with them. And the local board of realtors association has scheduled another class with her, Liz, for December. Liz goes on to say, you can do this. When I started my education classes for realtors, I had seven registered in one show up. What did Liz decide to do, not stop? She decided she needed to get better, right? She needed to go from good to better before you even consider something new. Liz goes on to say, keep going, tell the haters to shut up and keep working. Happy Monday. Thanks, Liz. We appreciate you. So I'm not sure if this is for you, but if you're seeking a way to attract and not chase to double, perhaps scale your reach of real estate agents to engage in a leveraged activity, one to many versus one to one, to accelerate your results in your prospecting of real estate agents. Perhaps you should consider learning more about my agent classes and our mortgage marketing pro membership of which Liz is a member, you want to learn more? Go to mortgagemarketing.pro. All right, so in this episode this week, we're talking with a new favorite tech platform and solution that I'm a big fan of and it's called my home IQ. That's right, my home IQ. That's the best way to sum this up and explain what it is. Well, it's a new tool, a new platform on the scene for realtors and loan officers to empower your clients to build home wealth and return creating, repeat, referral business for you. And look, I see a lot of tools. I have a lot of things come across my desk, right? At this bright, I'm very cognizant aware of bright, shiny object syndrome. And I don't like talking, endorsing or bringing some tool to you or even on my radar, unless I truly think it's a needle mover. And in this case, it is my home IQ is a needle mover, whether it's home reports, whether that's a pre-mover score using AI to know who's likely to sell their home in the next 12 months, maybe it's a mortgage checkup so you can see who's may qualify for refinance with instant refi certificates. How about buyer leads? Anybody interested in buyer leads, a high converting funnel to generate leads through niche loan programs? What about seller leads? Hey, hey, how about converting funnel, a high converting funnel to generate home seller leads? And then of course, this is a really cool, hello partner relationship that allows you to connect with new realtors and maximize your current age and relationships. All at no additional cost to you, a full marketing suite, a Facebook banners and QR codes and all kinds of cool stuff. And look, some of you out there may be using a tool now called Homebot, right? Homebot's great. They've been on the podcast before a wonderful platform. And if you are using that or if you've considered using it in the past, I would encourage you to listen to this episode and then follow the link in the show notes to go learn more. What's the harm? You go learn more. It's scheduled time to have a demo and see if this is a fit for you. And I think it very well could be depending on where you're at in your business. But I'm definitely thrilled with what they're doing, what their roadmap is. And I'm barely scratching the surface or doing it justice here because I want to just get right into the interview and allow you to go do the due diligence yourself. But the, you know, the initial optics on this thing in terms of engagement results and valuable conversations with partners is really just very, very impressive. So without further ado, let's get into this week's show Alex and Sean, welcome to the show. Thank you, Jeff. Thank you, Jeff. Thanks for having us. You bet. Good to have you guys. Usually when I have two guests, we need to do who's who on the voice. Alex, why don't you get started? Who are you? What do you do? I'm Alex Cachek, one of the co-founders and CEO of my home IQ. And I've been a realtor for over a decade. We've transitioned now into a text space. We found a problem in the industry. I felt like we could solve that, bring a solution to the market. And so my home IQ was born. Love it. Thank you. Hey, Sean, how about same question for you? Jeff, thank you for having us again. 22-year mortgage broker been in the streets all that time doing loans turned prop tech entrepreneur when Alex and I saw this problem and decided to solve it. So here we are. Fantastic. And we're going to talk about the problem. Why don't we get into that right out of the gate? What is this problem? I'm reading this statistic that 67% of homeowners don't use the same loan officer on their next transaction. Sounds like a problem. Why is that? What can you tell us more about that? Well, I think where a lot of agents and loan officers fall short is the post-close. They work extremely hard to generate that lead to nurture that client, get them into contract, close that transaction, but then once that transaction closes, they don't have adequate tools or ways to stay in front of their past clients. And so there's a big fall off and repeat and referral business. What's interesting is in our data statistic, they said that when they interviewed buyers who purchased a home and they asked them, would you use the same loan office or start a real-time on the next transaction? It was like 92 or 93% of them said yes. And so then they went back and interviewed the same homeowners and sadly not only 24% did use the same real-time on the next transaction. So there's a big disconnect that happens for those several years of past transaction. And that is staying top of mind with homeowners after the close of purchasing that property. And so that's where I think my homeicure fills that void or fills that gap with the way we keep agents and loan officers in front of their clients every single month with valuable information that's relevant to the homeowner not promoting the agent, not promoting the lender. So just there as bias standards to answer questions that that homeowner may have. And the other most interesting fact was that over 80% of homeowner wealth at retirement comes from their home in the US. And so now if we can position the agent and the loan officer as someone who educates them on best ways and practices to build wealth with one of the largest assets that they own, then they become like heroes. And so now it's not about promoting your brand or sending out reminders on or recipe cards or reminders of a birthday or something through an email, which statistically only 2.8% get open over the years and then you get spammed and you're never really staying in front of the homeowners. Now you can really educate, give relevant content and constantly engage with homeowners. So Sean, you've been in the field though, a warrior, if you will. On the streets, as you say, right, originating for 20 plus years, how do you found it challenging two staves top of mind and kind of like farm that past database? Did you see that as a, I don't want to say area of weakness unless you want to use that word, but area of opportunity for you in your business? No, I mean, honestly, it is an area of weakness and I've, you know, all admitted. I've had people ask me before, you know, what's the RMEU using? I don't have one. You know, where's your database over 20 something years, you should have enough business in there to never have to go prospect another client again, which is true. But sadly, going from, let's say, company to company or, you know, platform to platform switching loan origination systems or whatnot, you lose touch with the past clients. And I think if I look back, you know, one of the things that I wish I would have done from the very, very beginning, even if it was keeping an Excel spreadsheet would have been to keep all of that data in one place and then use, you know, tools like this were available back in the days I would never have to go get another deal. So I think it's definitely been a pain point, but now it's something that, you know, plugging into a, you know, solution like my home IQ or something else, you're actually don't really need to do that much after you put it in. And then you start seeing those people, you know, responding to you and engaging in you. So it's, it's definitely now going forward a much more pleasurable experience. And it's interesting, this is, this is the conversation I love to talk about kind of geek out on marketing and database and all that kind of stuff. And I, you know, I started originating in 2003 and people have been talking about this for a long time. And yet they seem to what, why haven't we got it fixed over 20 years? And so I'm thinking about in my head, is I hear your responses about why this isn't fixed yet? You know, I mean, well, no, we should do it. But let's maybe highlight a couple of the reasons or the obstacles. Is it, A, I don't know what to send people, B, I don't have the time to create something meaningful and engaging? What else? What do you, what do you think keeps LOs and realtors from really turning there? I'm going to steal a line I heard from the recent sales mastery event with Todd Duncan. From turning their database into a data bank, what, what, why is this a consistent problem for everyone or most people? I think because there hasn't been adequate tools available till recently. And there are now, like, I think the industry has now realized that this is a big problem. And they're starting to come out with these different tools and my homeicube is one of those solutions. And so prior to that, they were all always relying on some sort of hard mail, some sort of email, which we know email does not work. And then hard mail that requires a lot of commitment to, you know, send out, but you're really not going to see that result for years to come. And I think a big part of that has to do with that energy and the time and money that goes into creating something that will take you years to recuperate back. Because when you sell a home to a buyer, they're not going to sell it tomorrow, right? It could take several years. And so it's important to understand that you're investing into that long term future. And so with tools like my homeicube, we solve that problem. So you said something that I want to touch on for a moment, and I'm glad you said it actually. The phrase that people tend to throw around, which is email doesn't work, right? And I know you guys know this, but I really want to highlight this for those that might, we throw a lot around a lot of cliches and stuff. Email doesn't work. People say that emails dead, right? We throw it all at whatever. And it's true. It doesn't work when it sucks. And there's no benefit for the end recipient and user. You know, you mentioned earlier recipes, banana bread recipes, whatever, all the usual self-serving or irrelevant, non-relevant stuff that we're sending people. That's why email doesn't work. The truth is, and I know you guys know this and preach and it acquire. But truth is, email from a marketing standpoint is still the most profitable digital channel that there is when it comes to actually driving sales and revenue. Look at the stats. People don't have to trust me. You can look that up right now. I'm looking it up on Google. But I'm known that because I was in the email marketing business for a number of years. But that's the biggest issue is people say email doesn't work and I'm not isolating you saying you believe that Alex. But that's why I think we're here is to talk about it can work if you've got something relevant and tangible and useful for me as the recipient. Otherwise, yeah, I'm not going to open it. Agreed? Exactly. Yep. Well, another piece of that, go ahead, John. Oh, sorry, real quick Alex. Another piece of that, though, Jeva, it's got to be easy first and foremost. Right. You know, look at traditionally a CRM system, okay, which one do I get? There's a hundred different solutions. Then you go through the process of getting it, you know, and then you got to like set it all up and you got to tag all these people. It's just complicated versus getting a database in there or, you know, one of our, you know, integration. And then knowing that that relevant information, like you said, it's coming out, not a recipe card. If not turn your clocks back, they can keep that into some other system. And Alex can talk, you know, a little bit more about how we're not a CRM. We compliment CRMs, but it's, it's an easy solution to get engaged with. No, absolutely. I think, I think we're, so yes, let me backtrack on my statement, email doesn't work with irrelevant information. Right. And that's what most professionals have been using for a long time. Where my home IQ shines is, like, we use email. And that's one of the biggest, you know, forms of staying or re-engaging with your past clients. However, we send out relevant information that they care about. And that's why we have 84% email open rate. Right. It's incredible to be able to achieve that kind of statistic. And how we're doing that is because we're giving information to homeowners information that they care about, which is them in ways they can build wealth with one of their largest assets that they own. And so whenever the rates drop, home values, all that information is available to them at their fingertips. And so yes, I do agree with your statement. I knew you did. And so we're on the same page. So we talked about, we talked about why email or the challenge is why this has been a problem for 20 years and I'm looking at my notes here. So we've talked about you, like you said, Sean, A, it's got to be easy. So in the past, it hasn't been easy. B, like I said, is what to say? What do I send people besides, you know, templated newsletter, whatever, what I remember being at B of A, and they used to like force people to put on, put you on this newsletter, which was like a complete joke, like whoever opened that thing. Content is what we're talking about. So what I'm hearing is, and I'm seeing out there in the marketplaces, yes, we've gotten more advanced when it comes to marketing technology and platforms to make it easier to help us with what to say, to have relevant content. So we do experience a better customer experience, which leads to those 80 plus percent open rates, which is insane. So let's do this. Let's highlight, this is why I wanted to bring you guys on, because I'm always impressed when somebody's hitting the mark on these things we just said. And we know that you, that's what we've already made. We don't need to make the case for database, data bank management cultivating those sales. That's where, you know, what's this tagline, your future business lives in your CRM. You guys can take that and use that for free, by the way. Thank you. But let's talk about what I'm looking at your website here. And so this is what I like. This is an example of engaging types of content that is relevant to people. Let's use the word valuable home insights. Explain to me if you guys would what you mean by valuable home insights. So there's two different layers to the product, right? One is we want to be able to, the goal, what we're trying to accomplish is to keep consumers off of portals like SIL. And I think it's important to highlight that. And I think that's like one of the reasons why realtors and loan officers are, it is it's not just Zillow, like there's going to be a ton of companies on the mortgage side that fall into this quick hit rock, like going down that list. They're all like your database. It's important to understand isn't probably four to five different databases already. Your past closets, Zillow boasts that they have 120 million unique visitors profiles. And there's, that's about 84% of the US population, right, of homeowners have a Zillow profile, homeowner profile, which means what, the moment the rates drop, home values, by anything that triggers a homeowner that want to know what's going on with, with one of their largest assets they own, they're like, they're getting bombarded and not just from Zillow, from other, you know, big companies as well. And so what we want to do is we want to piggyback off of that relationship that's already established between the agent and the loan officer and the homeowner. They've selected you as a professional, they trusted you with one of their largest purchases that they're going to make in their life. And so we want to be able to cultivate that trust relationship that's already there. And instead of them going to Zillow talking to a new agent or a new loan officer about rates, why not talk to you? Why not get in front of them before anybody else where there's already that trust established. So we will let them know what their home value is, how much equity they have in their home. If they want to decide to sell, what is it going to cost them? So we plugged in title fees in there. And I think a big portion of that or the concept there was to remove silos of information. That's what these companies like Zillow have done very well is they've given access to a lot of that information to homeowners for free without having to speak to realtors. And so we want to do the same thing, you know, if they wanted to turn, like, does it make sense to turn their home into an Airbnb or into a rental? What can they earn on that? So just different information that's relevant to them, especially around mortgage rates whenever the rates drop, let them know what they could potentially reduce their payment to, what that could look like in regards to savings. So educating homeowners through information about their home. And I think a second part of that where we're getting into is also going to be a content driven where we'll be able to educate homeowners on what's going on with the housing market, not just specifically their home, but really their area, their geographic location. And then we'll be able to produce all this content and let them know where they stand. And once again, it's coming from their trusted source. Already a relationship established, we want to solidify those relationships to create repeat and referral business for years to come. Right. So what's cool about a tool like this is you're hitting on multiple fronts. First of all, the aspect of, you know, trying to protect our database from the onslaught of companies, big box companies, Zillow, et cetera, who are going after the same customer. And we've got to do that, right? In the ways that we can do that. The other thing that you guys do, so we can go deep in the weeds about some of the features and functions of home IQ, you know, we don't have to do that here per se because those that want to learn more, constantly contact you via the link we provide in the show notes and they can learn more that way. Let's talk more about how this actually benefits them, the ways they win. So once again, I'm looking at the other opportunity is to partner with real estate agents. Let's face it, right? Especially in this market, we, it's all about your team, right? And building that team of multiple people that will help you win. So this case study, where was it? Let me go back here. Do you want to talk about your case study or just kind of highlight how you help loan officers grow their database with realtors? Good, Shiny, want to tackle this one? You're a loan officer? Yeah, I mean, it really comes down to audience, right? So you have your past closings and you have, let's just say, landing pages, your driving traffic, your posting stuff on social media, so you're generating new eyeballs, new audience and you're growing that. Another way to grow it, I mean, because you can only grow yours so much, is partnering with real estate agents, ones that already trust you and maybe you're referring to business and maybe ones that you're trying to get a relationship with and you need to bring something of value. So let's just say you partner with 10 real estate agents. You got them onto my home IQ, you know, our team onboarded them, trained them. And then now to each one of them have 200 past clients or 200 people in their audience. Now you just increased your audience from just one person to 10 or 11 people. And now your audience just grew by 2000 homeowners who now are going to be seeing these reports every single month and interacting and engaging with them. And then each one of, you know, the valuable blocks that we have have called the action there. So now all of a sudden you got 2000 people and if you do the math and how many people are going to move or sell every year, you know, you have that many more opportunities, that many more at that. Right. So that's how you really can grow with this thing and by providing, you know, all these valuable tools, you know, the tool suite to the realtor is that absolutely no charge as well. So you mentioned, you mentioned a case study which can be found on our website, myhome IQ.com. What's interesting enough, we just looked into this specific user a few days ago and I was really blown away. The case study said that this loan officer had a past client, you know, about 300 past clients that were uploaded into the myhome IQ platform, invited over, you know, 200 real tours that were able to connect with. And then at that time, he had grown his database reach to over 10,000. We checked it recently. It was over 17,000 now. Wow. Imagine being in front of 17,000 homeowners when, you know, the rates drop, like, what do you think is going to happen? I mean, that's when the product really, really starts to shine. Like we're in a cyclical, you know, constantly in a cyclical market and we all know this. And so anyone who's getting a loan today, when those rates come down, eventually, but you don't think they're going to want to refinance. And so what are you going to do to stay in front of them? I think that's a really good example to show you what's possible out there if you use the tools, right? 100%. I mean, this is, this is the secret guys and gals is how many people are you in front of every, every single month and adding value and buying brain cells as Tim Bohem used to say back in the day, top of mind awareness. And so we've already established that the old tools, right, of recipes, et cetera, and templated newsletters don't do the job because it's not relevant to them. That's why a tool like my, my home IQ does such a great job of that. And I'm reading the case study right here is because of some of the stuff you have built into your platform, which we can highlight, you're actually generating inquiries. These are people who are raising their hand or they're behaving or reacting with the content in a certain way that, you know, fire off triggers or alerts to let you know that somebody might have a higher probability of being interested in a purchase of ReFi and investment property or something like that. And so this is that holy grail once again, of how does a loan officer add value to real estate agents outside of being an excellent loan officer. This is one of the ways to do that is to, you know, help them improve the conversion rate on their database, which by the way, if you know anything about realtors, most of them need help with that as well. Even the quote successful ones that are selling 10, 12, 15, 20 homes a year, believe me because I'm with them every single week. So let's do this. Let's highlight a couple of things that are cool features within the platform. Like one of them I happen to like is the pre-mover score. Can you comment on that a little bit? Yeah. So I think it's important to kind of highlight that our background, I think the product was built primarily from a realtor's perspective. We have two co-founders, both are in the real estate space and Sean is in the mortgage space. So we have like a balanced view of how this should work. But since we were the driving force behind this, we wanted to ensure that realtors would have tools that could help them. And one of the best ways, and once again, our product evolved over time. First, you know, we offered, you know, some of the highest, you know, highest converting landing pages to generate sell elites, but then after you generate these sell elites, not everyone would be ready to sell within, you know, that month, and they could take eight months. And so how do you then stay in front of them? Then my home IQ, the reports got born. And so then after all that, how do you then narrow it down further to identify who's likely to sell within the next six months, six to 12 months? And so that's where the pre-mover score comes in play, where we will give a pre-mover score to every homeowner inside our report. So not just your past clients, but also the leads that are generated through the report, anyone who has an address, a homeowner, will be able to identify who is likely to sell within six to 12 months. And so then a score will be assigned. So anyone, I believe with Sean was a seven or eight, well, I'll have to double check. But anyone with a seven or eight and above has a 72% chance of actually closing. And that's just data out of, you know, millions of homeowner reports pulled that predicted, you know, when they went back to a look at the reports, it was above 70% accuracy on that. And so just having that information is, I think, extremely important to realtors and to loan officers. If you know that there's a handful of 10 home owners who are likely to sell their home this year, well, man, I shouldn't make some priority to reach out to them. 100%. Yes. I don't know real quick. Yeah, go ahead, Sean. Sorry, Jeff, real quick on that note, too. It's another reason also for the loan officers to make a call out, right? So loan officers in the system see a bunch of nine call, you know, their agent Susie and say, hey, you know, his Monday, I just want to let you know, I just saw there's like five or six nines in here. Have you called him yet? Or do you want to call him together or do some kind of joint thing? So it's also triggers for the loan officers to have, you know, reasons to contact the agents with valuable information. For sure. I mean, we also have plans to automate some of those, you know, paper marketing where you could, you know, automate some letters and postcards and have our system do a lot of that for you. So we've got a lot of works. We want to be able to make this product even easier, right? So step one is identifying, you know, those prospects, then right now we're just giving that over to the professionals to handle it like they're outreach eventually will automate a lot of that for them as well if they choose to do so. Do you want to talk a lot at all about the buyer leads generation with your, you know, lead capture funnels, et cetera? Yeah, we can mention that for sure. I think so one, we have two primary, you know, tools that realtors need, well, both realtors and loan officers, but one is to generate, you know, a purchase business, buyer leads and then the other one would be to generate sell-a-leads for realtors or, you know, re-five leads for loan officers. And so on the purchase side, what's interesting is we built this funnel and I guess how we made it unique and why it works is we've narrowed down the capture to a niche program. So things like targeting firefighters, doctors, veterans and those programs are limited, really. All it's not necessarily a program you're offering, you're, it's a funnel, really. Hey, are you a doctor? Maybe there's something I can offer you, right? That's really, but because it's an isolated message, they feel special. And so now realtors can use this co-branded landing page that's co-branded with their LO and the only way they can access that buyer lead generation funnels is through a connected loan officer, exclusive loan officer. And so now each agent can share, you know, through our product, we have the ability to share content, social media, like banners, images to drive people to those landing pages and then be able to generate purchase leads which then both the realtor and the loan officer can reach out to. And what we've done is we've, we know that we live in a time of, you know, I want something now, like I don't want to wait for someone to call me to give me information. And that's been kind of the premise of my home IQ, we wanted to ensure that we give information whether it's the homeowners, the sellers, or buyers, instant gratification. And so going to answering a few questions, seven questions, we'll be able to issue them instantly a prequalification certificate. So it's not a pre-approval, it's just a prequalification certificate. It's branded to the LO. And so this is a way that now an LO who's connected to 20, 50, 100 realtors can grow their purchase business without really doing anything. Those, you have an army of agents who are generating purchase business for themselves, but the only way they can do that is through a connected loan officer. So if you really understand the concept here, you could have an army of realtors bringing purchase leads for you to work. And so you give them instant gratification by a prequalification certificate. It's branded to the LO, but it's actually co-branded. And then now it's time for you to reach out and then have that conversation take it then a step further. Um, putting the LO hat on, what are some of the questions that are asked on that pre-approval certificate? Obviously, it's not a pre, you know, full pre-approval or prequalification, whatever you call it, by bad. But what are some of the questions that are asked on there? So it's based on their income. So one, we'll ask them, you know, how much money they make, um, what, how much money they're going to put down? What do they think their credit score is fair, good, the credit score. So we're asking them. So it's based on what they gave us. We can then issue a prequalification certificate saying, I mean, this is, let me rephrase it. This is a fancy prequalification, um, um, the module on any Zillow, you know, any of the data. Sure. But it just, it provides a certificate at the end saying, Hey, here's what you could potentially get if based on the information you provided. Well, what I like about it from a marketing standpoint, this is what the big boys do, as you just referenced, big boys and girls, right? If you look at the lead funnel that they walk people through, um, you know, it's usually those multi-questionaire kind of slider type form type, you know, experiences. And you're right. You've got to take people through this process to lower the barriers, to get them to be open more open to. So if they're already answering these questions, right? It's about stickiness. It's about commitment and consistency. Those are principles, by the way, from psychology, Robert Childini, check it out, commitment and consistency. So once people have jumped through those hoops, like what we're looking to do is take them off the street and reduce the shopping. And so if they've gotten this now, you know, prequalification certificate, you're going to hear from the loan office, you know, all that kind of jazz, I mean, we're just increasing our odds that we're going to have a better shot at that business. But one of our, like, we have a good, the case study that we mentioned on our website. And that's just one of the few that we have come in. Like he generated over a thousand buyer leads. Like this was in, like, imagine, and these are like, like, agents brought these buyer leads to him. So imagine having that, that army just work for you. I think that is, that's the power of, of the tool. And this is Sean, if you want to jump in after this, feel free, but this is a point I want to make because a lot of people are talking about, and I see people doing different programs about the L.O. paying for these programs to run Facebook ads, to try and generate leads, to then give to the realtors to have something of value. And I think that's a bit of a slippery slope. I don't want to get into it for the various reasons Facebook, et cetera, and all that kind of jazz. But the reality is, you can deliver equal value by simply providing the agent that platform through which they're going to optimize the assets they already have, lead data, pass client data, buyer leads, they've already generated, and not doing anything with. And if you just give them this means, like we just described here, this kind of pre-qualification process, that you're going to be the one who shakes the trees, because they're going to fill out this form. You're going to now literally, literally pre-approved people and take them through your process. And then you deliver that, hey, instead of some 1,000 Facebook leads that 73% of them suck, right? Here's like the core that actually are ready to do something because they're coming from a better trusted source. Am I right about that? Yeah, and think about that army of real estate agents that you've partnered with that are doing open houses and using QR code when they come in instead of getting them to sign into a sheet, they're using the buyer IQ, landing page QR code, boom, and all of a sudden, 70s, you step, they capture that client's name, email, everything. And then the client actually gets to see a pre-qualification certificate right there on the spot. And then the loan-ons, they might not even be there. They're back at their office or home or whatever, and now they just got, you know, alive, somebody that's in market because they're actually going into open houses with the real estate agent, getting them to go through that funnel. So like what you said, it's the way more valuable lead than, you know, driving traffic to the page, which you can do as well and be successful. But it's just, when you got that circle of trust and that it's like a warm referral coming in from the real estate agent, it's just so much better. And then I'm getting to a, to an ending landing page, oh, sorry, that just a thank you. We're going to call you soon. No, they get this report. That's a visual. I just saw, I just envisioned that at an open house. Like in picturing this, right? You got the flyer, whatever, the open house, the iPad set up and it's the QR code and somebody, oh, would you mind just taking a few minutes? Like we can do it, get a pre-qualled in literally like three minutes right here. I actually like 10 seconds. Well, like what, well, who does that remind you of push button? Get a pre-qual now. So guys and guys that are listening that are getting a little bit, you know, you're getting over analytical about this. We know it's not a full pre-qual. And so do they. And they're not getting one from the push button, get a pre-approval anyways, either. But what are we trying to do? We're trying to create an impact. We're trying to capture people's attention, take them off the street and get them into our funnel. And that's cool because that's what that does. Look, Jeff, for the L.O.s who are sitting here and, you know, just like questioning this, you can sit and question all day long or you could be the L.O. who generates a thousand virally. And so the question is, who do you want to be like the product works? It's as simple as that. Just because maybe you don't like it doesn't mean, you know, you don't, they're not following your specific process doesn't mean it doesn't work, but it does. One thing that's important to highlight is you're now giving away for realtors to offer a tool to their clients that's instant gratification. Nobody wants to fill out full online 10.03 application to find out what if they can potentially qualify. Typical question is always, hey, can I qualify and how much can I potentially qualify? Here's how much I make. Here's what I think my score is. If you can answer that basic question and this was like our barrier venture, I remember like being an open house all the time as an agent early on, like we get that question asked every single time. That's why we built it. We figured let's give them something. Let's just answer that question within 10 seconds. And then that creates a level of trust. It's a basic level of trust. And now you can work on that to take them to next step. Hey, do you want to take this further? Do you want me to create a search portal to find you homes that you, like based on what you could potentially qualify for, it's $450,000? Let me send you some homes. What are you looking for? Do you see how fast that conversation just got transitioned? And that happened right there when they're still at the open house. And then they're going to get a phone call from the LL saying, hey, do you want me to verify these numbers and make sure it looks like you're out there looking at homes now or looking at some properties online. Let me just make sure we can get you this amount. Maybe we could potentially get you something higher. So you got that interest going. And so it's a conversational, like everything's relations, like it's about relational. And so we're trying to make it as relational as possible. And these tools just help make that happen. Of that. I'm just envisioning that. By the way, open houses are back, people. I've talked to them. They work. Yeah, they work for track, you know, I know people publish stats all the time. How many of your closed deals resulted from whatever? Look, I talked to a realtor a couple of weeks ago who had 25 agents come through his open house. And like even in the market, we're at right now, which is a bit of a pause, if you will, right? Because of what's happening, interest rates wise, et cetera. First of all, there's still activity. Number one, but number two is there are people that are in wait and see mode, right? Let's just be honest. They are. I don't even know that they're not still looking and shopping and kicking tires. Because that's what, you know, when I did, when I was a young couple, first looking at buying her first home, we were going out, checking out the open houses on Saturday, whatever, right? The wife actually, she dragged me. She forced me. I don't know if she's here to hear that, but it's something you guys, you just put up it. But, you know, there are people out there looking and shopping. So what am I saying? This all gets back to adding value, building your database. And as you said, Alex, relationship, it's a partnership. And I think too many LOs, for the last two years, we've had no partnership. You've had no relationship with realtors because you didn't need one. So therefore, you got lazy about it. Well, now you need one, but you need something unique and different, it's what I hear from LOs all the time. I was talking to LO a few weeks ago and they're like, yeah, we're making, they have a company that makes these calls for them, outbound ISAs, you know, calls to set appointments. They set three to four appointments a week, loan officer with Realtor. And the structure of the script is, you know, hi, we're such and such. We've identified you as one of the most successful agents in the area and we wanted to, you know, take a moment to tell you a little bit about our unique lending marketing platform, whatever they called it. It was like a platform, right? And I was like, oh, what is that? What is the platform? You got me curious. And they're like, we really don't have one. It's just we've got a couple unique products, right? I'm like, well, that is a major let down when the realtor hears that. Let me, let me piggyback Jeff. Yeah, I think we're going to, we're going to get past the open house. But one thing I wanted to mention since, you know, you didn't mention open houses here. And that they're, you know, coming back. So what we've seen, and this is now not something we offer. This is something our users came up with. And so now it's like, well, this is pretty cool. So I'm sharing this now with other anyone who wants to try this out. But what realtor's did, they, who are using my home IQ, they took a picture of the actual report and they like printed it out and put it on a, on like some sort of like plastic stand in the open house they were doing. And they had a QR code and said, I can get you this information on your home with just a scan. And so what's interesting is you'd have a lot of people would walk through the home, like the neighbor, curious neighbors or just anyone random, anyone who was a homeowner saw the information on this report. Like, wow, this is pretty cool. They would just scan it without talking to anyone. They'd plug in their address and boot instantly get all this information. And so they were able to capture emails of homeowners. And then surprisingly, those homeowners would be reaching out to them, you know, sometime down the road. So they were growing their database. And guess what, an LL grew his database without ever meeting that homeowner because it was the realtor who was doing the open house, who captured that homeowner into the system. And so that's a powerful way of being able to use a product that has a network effect component to it. And so, you know, now what we've seen LLs do, they would actually order for like $100 like a retractable banner that's like six feet tall. And they would just pop that thing open at an open house. And then, you know, that would catch every homeowner's attention like, well, what is all this information? Like, hey, you can get this by scanning a QR code. And so once again, like the product is evolving because users are coming out with creative ways to use the product. And so you can always bring the deer to the water but you can't force it to drink. And this is like the same thing. The tool works. It's just, you know, an infinite ways of using it. That was a brilliant idea. Love that. Love that. Sean, are you having any conversations with the realtors about my home IQ and any experiences you want to share or what their response is? How open are they to, you know, let's talk about the challenge of getting them to share their database? Well, I mean, it's always going to be a little bit of a challenge if it's a new agent that you have. It doesn't know who you are. You've never had a relationship or a phone conversation or a deal together. But I think, you know, like, I don't remember who used to have this page five of the application. You know, if you have a deal and it's a new agent on both sides, that's two opportunities right there to strike up a conversation about this. You know, instead of going right in for, hey, my programs are great. I've closed back and everybody does that now. Everybody has a seven day clear to close and they can be anybody's rates could be the best if they really wanted them to be. But using those opportunities that you already have right in front of you to then figure out, you know, you're scripting, you know, do you go for the appointment right away? Do you say, hey, let's close the deal and it's, you know, wants it to success. I'd like to go, you know, take you out the lunch with dinner or whatever. And then bring up the my home IQ. I think if you're going, if you're trying to go to an open house and it's a cold build, you've never met him that you're trying to pitch him real quick. I don't think you're ever going to see a lot of success with that. But the ones that we're seeing the most success in our business is the transactions because you have a reason to talk to them multiple times during this 30 day window. So use it. Hey, by the way, have you ever heard of this? Hey, what are you doing to get it? How many of your people, you know, are going to sell in the next six months? Do you even know? It's like little little nuggets, little hint. Well, Sean, I'm meeting for the appointment. To Sean's point, the moment you close that transaction is the point you want to, or the time you want to use to engage that realtor. First thing you do is you create that report. And then you send that link to that report to the realtor say, Hey, I put your branding on this specific report because I want, if there's going to be any questions around home values or anything, I want that to come to you, right? And so this is something I offer to all the realtors I work with. By the way, there's a lot more to it. Let me know if you're interested to learn more on lead generation. And and if you want to get all of your clients into something like this, I can, I can help you achieve that as well. Like just having like let them taste it and see what that looks like. And then they'll come back and reach out like who would say no to something that's so powerful when they usually see that report and they see their own photo on there and they realize that now anytime this homeowner is going to have questions around home values or fees or sell in their home, that that CT is going to come to that realtor. Like I would say, of course, yeah, tell me more. That's an open door, right? So yeah, it's an easy conversation with a relationship you already have. So I see it now. Right now when we're recording this, we're in Middle-ish of October. And this is now when I'm coaching LOS to have your business planning meetings with your current real estate agent partners. What is their plan for Q1, Q3, right, 2023, et cetera? And so now is to search yourself into those conversations and provide something that will help them break through the challenges that we know they're having. Also, little shameless plug. We, my members and for you pro members that are listening, shout out to you. We have a class called mastering database marketing. And what we try to do in some of our classes, we insert tools and resources into a class that is a point of conversation. So picture this, a loan officer is teaching a class to 10 or 30 agents and they're talking about how to master database marketing. And so all of a sudden, insert my home IQ. Hey, by the way, have you heard of this? No, great. Here's what this does. Here's how it can help you. If you want to learn more, come see me afterwards. Or here's a QR code, schedule time on my calendar right here. Like that's what I'm helping a lot of LOS do. And we're going to be adding my home IQ to a couple of slides in that slide deck. You didn't know that until just now. I love it. That's right. Awesome. Thank you, Jeff. Yeah, there we go. So this is really cool, guys. And I know there's going to probably going to be some questions. You are really curious to learn more. So here's the called action for those that are listening. There will be a link in the show notes. When you're listening to this to go learn more, I don't know specifically what that link is yet, but there will be a hyperlink in there. You can simply tap with your thumb, your finger wherever you're listening to this and go to a page where you're going to be able to learn more about my home IQ. In the meantime, you can also of course always go to my home IQ.com and check it out there. Any final words you guys want to share in terms of like roadmap or direction moving forward? Yeah. So one thing I definitely want to mention, I think it's important to think not only about today, but about five years, ten years, right? The future. And so right now you have all the big box stores or companies that are moving into the post-close transaction. We work extremely hard to make that one-time commission from our clients. And then that's it. That just kind of falls off. What a lot of the big box companies have figured out is that there's a lot of monetization that can happen post-transaction, be able to offer vendor services. So things like the solar and the list goes on and on. And so what we are thinking about at my home IQ is we want to be able to empower our users so that they can not only build clients for life, but be able to monetize clients for life as well. And so imagine us being able to use data to identify which homeowner hasn't pooled up roof permit and the roof is coming to its end life cycle, which we have all this data. And then we could identify how much sunlight they get per year and what's the square footage of their home and then what kind of system they would need and how much is going to cost them and then allow them to finance that within a two-year zero interest. And all that could be done inside my home IQ portal to increase the value of their home. They're going to have to replace that roof regardless. So before they even that issue happens and now they're having more damage to deal with, we can address those people ahead of time, connect them with the right vendors ahead of time. And that's just the AC unit renovation that list goes on. But that home service market is growing at a 35% compound annual growth rate. It's going to be a $1.2 trillion being spent each year between emergency renovation and energy repairs. And so we want to position ourselves and our users to be able to take part of that. And so that's what we're working towards. If we can generate a lead for ourselves, sorry, for a home service, let's take solar for an example. And we get paid. Well, we would like to find a way to compensate back to the users who brought that homeowner. And so now realtors and loan officers partnering with my home IQ have a way to build residual or further encompass that transaction monetizing at homeowner for years to come because other companies are going to be doing that on their, they're already doing that. And so anyways, I'd like to just leave us with that because I think that was an important component to where we're going and shows that we're not just looking for ways to increase our software as a service business, but also partner, truly partner with realtors and loan officers so we can build something magical together, help them stay in front of their past clients and also build those relationships for life. Yeah, that really goes into the bigger picture of how we need to expand our value, but also expand our presence throughout the journey of the homeowner, right? So it's not just during a transaction, purchase, refi, investor, whatever, but it's other opportunities that you guys help provide such as, you know, awareness, equity reports, refi opportunities, right, all those kind of, all those kind of data points that you drive for conversations, but also on the bigger picture, I remember back in the day working with this realtor in Long Beach, California at one, at one point in time, he sold a house today every day for probably 15 years. And he, one of the things he did and realtor still do this today is he had a concierge service through which, you know, people get access to these different resources when they needed them, right, for home repair, for solar, for AC, you name it, but they, they saw him this realtor as the trusted source, right, for all those things. And so that's a similar parallel. The difference here is that, you know, you're doing it in a more technologically savvy way and that there's also some, you know, compensation, respite compliant compensation for those involved. Yeah, I think a big part of that has to do with, with also using data, because we can identify homeowners, the right homeowners, and only present those opportunities inside their unique report for the people that qualify. So it's like, as a homeowner, you're only seeing information that's relevant to you. And it's tailored to you. And so I think that's, you're not getting the direct mail postcard from the window replacement company and all that. Well, after you just did window replacement, too, right, so you already have solar, there's no need to see a solar block. That is true. That is true. All right. This is awesome. Good stuff, guys. Really, really appreciate it. My homeicue.com. Also, check the link in the show notes for a unique and special offer just for our listeners here that you'll have to go learn more about that. Sean Alex, can't thank you enough. Man, appreciate you guys being here. Yeah. Thank you so much. Yeah. All right. Listeners, you know what to do. Check the links. If you like this episode, leave us a review. We'll see you on the next one. Bye for now. Hey, guys, what's up real quick? You've heard about the mortgage marketing pro membership before and I just want to quickly remind you of that you're in a place in your business where you simply need more purchase loans. You need to fill your pipeline with purchase business. Let's just face it, agents are still a solid pillar of business and sources of purchase business for you. Well, good news. Our mortgage marketing pro membership helps loan officers like you close more loans without the hassle of chasing agents or cold calling done for you agent classes, expert training videos, a marketing automation platform that automates the entire process for you. Everything you need to build your personal brand in your local market, attract and convert agents into referral partners. Plus done for you proven marketing materials and plug and play content to make promoting your class, getting agents, butts and seats, partnering with affiliates real easy, but that's not all. You'll also get access to our weekly mastermind calls with top LOs, authors, speakers and coaches to learn the best strategies to grow your business right now in today's market. And as an extra bonus for limited time for all new members, you'll get access to a database of 200 agents in your local market that have closed anywhere to from eight to 50 transactions in the last 12 months. 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