Mastermind Summit Key Takeaways

Hey, what's up, Jefferson, for your humble host of this episode of the Mortgage Marketing Radio Podcast. Thank you for tuning in. Appreciate you being here. Hey, by the way, did you know we have a private Facebook group just for you, the listener. You can go over to Facebook, type in the search mortgage marketing radio and you'll come to our private group just for podcast listeners where you have more good content or conversations going on over there. So go check that out. I've got a question for you. It's coming up here on midway through the year. How you doing? Where you at? Are you on track to reach your goals? We're going to talk more about how to close out 2024 strong and what are the strategies and tactics that I've seen from the top producers around the country. I'm going to be implementing more on that in just a moment. But before we get there, I got to share with you another win of the week from our members at my agent classes. This is where we help you. The mortgage originator go from solicitor and vendor to partner and peer by attracting instead of chasing real estate agents and building a platform that helps you get attention, get engagement, conversations and contracts. Win of the week coming from one of our longtime members, Kevin, what is up, Kevin? If you're listening to Kevin, I've been with us I think four plus years easily. And Kevin has recently hosted a class which he shared that 36 agents showed up for his class. And he was showing them one video idea that generated 11 million in listings in 90 days and sold 9 million. And that was an idea we borrowed from a real estate agent who shared it with us and we took that and put it together in a class, a very easily executable short form class that's easy to execute. And so therefore, Kevin shared that with his agents in a Zoom and had 36 agents show up for that Zoom. And what happens after that? Well, hey, you know what happens after that? You have conversations. And as you know, conversations leads to contracts. So my question for you is how are you getting in front of 36 agents? How long would it take you? How are you getting in front of 36 agents for 30 minutes, 40 minutes of dedicated time that's focusing on you adding value and helping them get more listings in today's market? Do you think you might earn some relationships from that? Some referrals? Well, I can tell you Kevin does so do many, many other people. You want to learn more? Go look at more success stories over at mortgagemarketing.pro. Okay. So this week I'm going to bring to you a brief recap of my attendance at the recent mastermind summit, the mortgage mastermind summit in Vegas, where I had the privilege and honor of being on the main stage as a guest speaker. What was my topic? My topic was how to double your realtor referrals in 90 days, hint hint. It's leading with classes in education. You've heard me talk about that long enough. I just shared with you the link to go check it out and learn more. By the way, case you haven't heard in top producers do classes in my presentation on stage. I shared examples from two of the top originators in the country who each do a thousand plus loans a year doing events and classes, getting in front of agents at scale. So on the stage the day before my session or actually the day after my session, I think it was I can't remember it was three two and a half days. Anyway, the point being is shot by Nozion, one of the top originators in the country out of the Boston mass area got up there and shared everything he does in his business. He called it separation season, separation season. This is the time to go grab market share and to step it up, not to roll it back, but to step it up because the tide will come back in, right? And you want to be ready to surf the tide, not get crushed by the waves, but be on your surfboard. And what's your surfboard activities? You getting out there in front of the right people, past clients, referral partners, all that other stuff. You know guys, it's the fundamentals. It's be brilliant in the basics. If there was any takeaway I heard from everybody at the mastermind summit, yes, leverage tech, yes, show up and be present consistently on social media, but most importantly, execute the fundamentals, be brilliant in the basics. This is a connection business, shout out to Tim Brahim. This is a connection business, particularly with referral partners, right? And so how are you creating connection and engagement? Are you transactional or are you relationship based? So this is the first place to start is evaluate your approach to business. Do you see realtors as a necessary evil, right? Or are they a key pillar of your business? And if you're working with realtors that suck, that drain you, that are toxic, that's on you. Now, maybe you're at a point in your business where you can't fire them yet and you need to put up with their crap because they're going to send you a deal or whatever. Okay, fine. I understand that. But at the point, you're going to make a transition in pivot to being more selective with whom you work with. But more importantly, let me ask you a question. I asked the audience from the main stage of the mastermind summit, I asked, hey, how many of you here need more realtors on your bus? All the hands went up. How many of you here need better quality realtors on your bus? All the hands went up. Answer, you need both, right? And if we carry that conversation a little bit deeper, you want more quality agents. That means you've got to go deep versus wide. But most of you, because of the market situation, because of what's going on with agents coming in and out of the business, because of the contraction in the market, lack of inventory, and opportunities are down. Most people right now, the immediate fix is you need more realtors on your bus for referral partners. You can go in, going narrow, going quality, right? You've got to go wide before you can go deep. And going deep is a process that you can't just exclusively go there else. You'll never pick up some of the low-hanging fruit, immediate, easy business that's available to you by going wide, right? So my suggestion to you is, when you're talking about approaching and targeting real estate agents is that you go wide so that you can go deep, does that make sense? Like the name of the game, whoever has more conversations wins, right? So the question is, how many conversations are you having per week? And I would argue that it's not enough. And so the question then becomes, what's your strategy for getting there? How do you get that engagement? How do you get those conversations? So at the masterminds shunmit, Sean's on stage, he asks himself a question every single day. What is your number one job? Let me ask this for you. What is your number one job as a mortgage originator? What is it? I'll give you a moment to think. Answer, generate business every day. Generate business. Now, you've heard this concept called reverse engineering. How do you generate business? You've got to work it back, which you've got to reverse engineer. What are the steps that it takes to get to generate business? Well, ultimately, at some point, you've got to have a conversation with somebody who either wants to borrow money from you or somebody who can refer you, introduce you, connect you to somebody who wants to borrow money from you, right, or to buy a house. So once again, it leads to conversations. Now, let's reverse engineer an additional step. We need to talk to people who want to borrow money to buy a house, right? How do we get those conversations? What are the mechanisms, steps, processes by what you're going to do that? You've got a variety of different things you can do. Show up online on social media, have conversations with the referral partners, contact your past client database, right? There's obviously a host of other things. If you're buying leads or whatever, okay, great. That's another potential direction to go. But it ultimately leads to you've got to engage and have conversations. And my question for you then, coming back to activities and be brilliant in the basics, is look at your, what Chompanozian calls, look at your accountability metrics. Have you reviewed your accountability metrics, your conversations, your calls, your face-to-face or Zoom meetings, your loan apps, right, your credit polls, your credit polls, loan apps to conversion, right, to rate locks, et cetera? Are you looking at the analytics, the KPIs that drive your business? Because you are a business owner, and if you were running a business, and I was a venture capitalist, right, I would want, and I was considering investing in your business, I would want to look at your analytics, right? Your conversations, your conversions, what do the numbers look like on that and where can it be improved? Once the last time you looked under the hood of the engine of your business and evaluated what's working well, what could be working better, what's completely unnecessary, by the way. See, most people do many things with side effects versus doing few things with great effect. It's not about doing more, right? It's about doing less, but doing more of the right things, does that make sense? Another thing that was talked about at the Mastermind Summit, which I absolutely love, is control the controllables. See, a lot of people get bogged down in this attention around inflation and interest rates and inventory and the economy and the NAR settlement and all the other noise, right? And what Shant said up on stage was that he doesn't focus on any of that. He may stay aware, right, and what's going on, but he doesn't go down the rabbit hole and get all wrapped around like what's going to happen with interest rates and what's going to happen with inflation and what is Powell going to do and all that stuff? Why? Because he can't control it. And what he does is he's just relentlessly focused on the things that he can control in his business. So let me give you some of the analytics, the accountability metrics in terms of getting back to the basics and the fundamentals. As I said, the question to ask yourself with the most important thing you need to do every day is generate business, right? Partner relationships. Staying in front of partners with value, out value your competition, okay? Lead management, communicating with them every day in multiple ways. So that's phone, text, video, handwritten thank you cards, right? All the different ways by which you can stay in front of these people. I got a question for you. How many prequels have you done in the past three months, six months that you've gone radio silent on? You've ghosted it. Not they've ghosted you, but you haven't reached back out to them. How many? That's part of the game, guys. That's called lead management, communicating, staying in front of these people, building a fence around them, right? So back to the basics, what is your accountability look around face-to-face meetings, presentations, entertaining events, entertaining events, texts and direct messages, social media, online reviews, managing your CRM, your database, time blocking, scripting, like score yourself in each, not each, score yourself in the top three categories of face-to-face meetings, conversations and presentations, because what I saw across the stage from Mastermind Summit consistently, from everybody up there, Shayla Gifford, from Tim Brahim, from virtually every originator that was on stage, talked about events, one to many, right? You scale your reach. And so score yourself there, right? Because it's about being in front of people consistently, okay? Now, some additional accountability metrics for you to look at, how many applications, how many leads, how many purchase locks, how many refilocks, right? Funded loans, funded volume, app to clear to close days. What's the gap there? How efficient is your process there? I know I'm overwhelming with you a lot. I'm giving you all the stuff so you can just pick the top three for you to look at your accountability metrics. How many emails sent, right? How many reviews, Google reviews, online reviews, did you receive? How many videos did you record? Social media posts, outbound calls, face-to-face meetings, high value partner meetings and team meetings. To sum it all up, let me say it this way, small, daily seemingly insignificant improvements when done consistently over time lead to stunning results. What is success? A few simple disciplines repeated every day. What is failure? A few errors in judgment. Also repeated every day. We're talking about process over outcome. When you fall in love with the process rather than the product, the output, the outcome up, right? That you're wanting, that the closed loan, whatever it is. When you fall in love with the process, you don't have to wait to give yourself permission to be happy. You can be satisfied any time your system is running. Let me say that again. When you fall in love with the process rather than the outcome, you don't have to wait to give yourself permission to feel happy or feel like you're making progress. You can be satisfied any time your, quote, system is running. What does that mean? It means if you're executing on your process repeatedly, some of the metrics that I just walked you through, the calls, the conversations, the meetings, the events, whatever, if you're executing on the process, there's a lag time between you executing the process and the results showing up. That's called a plateau sometimes. That's called no man's land. That's called, right? Sometimes we get frustrated and we feel like we're not making progress. My suggestion to you is to, right, don't measure how far you've yet to go, but measure how far you've come, the gap in the gain strategy. If you're not familiar with that book, the gap in the gain, right? Look at the consistency of the implementation of your process or also called a system. That's a concept from atomic habits. Because right now you might feel like your output isn't generating the return. I get it. It's a challenging market, right? Contrary buyers, et cetera, all the noise around that. Here's how you know you can bet on you. Look at your process. Look at the consistency of the implementation of your process. If you stay there, stay on that, it's simply a matter of time before the lagging results catch up with you implementing your process, executing your systems. Does that make sense? Cool. I would take a look at your system in process, your weekly execution of the fundamentals and the basics. I would grade yourself or score yourself in those areas and get clear on the fact that you can't do everything, but what can you do? Which are the top one to three activities that will move the needle and I would go all in on you. Go all in on you. Get rid of the waste, cut away what's irrelevant, not useful, including a monthly expenditure like one of those little tech tools and softwares and things like that that are death by a thousand cuts that aren't actually moving the needle for you that are just, quote, nice to have. Go all in on you. I'm going to leave it there. Hopefully you found this valuable, this quick tip of the week. One set is everything, your business growth is internal, not external. You will grow your business and direct proportion to your identity and going all in on you and executing the right activities. So if you found this podcast helpful and useful, I would appreciate a review. If you're someone climbed somewhere, you're listening to this on the app, there's a place to leave a review or you can just go Google, Morgan's Marketing Radio podcast, someplace and leave a review. That's that. And if you do want to move the needle on agent conversations, hey, you know what to do. You've heard me talk about it. The agent classes, go to Morgan's Marketing Pro, appreciate your tuning in. See you on the next one. Bye for now.