Empower your business to close more deals in loan agreements

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don't look at yourself as a loan officer you are a salesperson either you're an order taker or your salesperson if you're an order taker taking orders at the counter you're paid ingly and you're taking lead some people looking at a rate sheet and giving a rate quote that's an order taker and that person will only have so much money that they can make if you're a true salesperson it does not matter what the lead what the market what the environment you relish in the fact that you have an opportunity to close a transaction all I need is that opportunity and at bat a chance and if I put in the work and I practice at my sale I believe that I can come through often enough to make it work now notice how I say often enough the more at-bats I get I don't need to bat a thousand if I bat 300 it's the Hall of Fame in baseball so all I have to do is get myself enough at-bats enough at-bats all you needs enough ABCs and if you have a mindset of a closing you will close more often so I love sales I relish sales I love the opportunity to compete with my better self against my last month it's just fun so today we're gonna bring the fun back to selling again because it's what we're here for we're here to close transactions and be sales people so the code I have today for you guys is no is a temporary point of view that I am going to change when someone tells you no don't run away and take no for an answer be willing to go out there it's a temporary point of view that I'm willing to change thinking back to the first worst job that you had my first worst job that I had was cleaning cars with a red wagon when I was seven years old in my neighborhood going door-to-door and some people didn't want a car wash but I had to convince them at seven years old that I can clean their car and that the five dollars I was gonna earn was well worth it so no is not no no is a temporary point of view that I believe I can change and that's what sales is all about we're not here for charity but there's two sides of closing deals with as an art form that is serving your customer but also closing deals and you're both you're a salesperson you're a therapist you're their best friend there's an art to closing deals in closing a sale it's about having an idea that I have to finish first you either get the deal or you don't you don't get paid based on application you get paid based on fundings and closings so having a sales is having a mentality of always be closing I love the always be closing because that's so true people in this industry live for 30 days I live for 30 years I talked to a client I know they're my 30 year relationship that I'm gonna work for 30 years and massage for 30 years and help for 30 years and get deals for 30 years but even in that vein I never think I have it down I'm always closing it's always be closing is that sales mantra it's that mentality in the modern age studies show that lead generation customer follow-ups and strategy sessions are part of closing it's the follow-up it's the follow-through that's what always be closing means when someone says let's go forward that doesn't mean anything that's just the first milestone so a study that I research this week that I gave to you guys was by CSO insights calm the study showed an independent research and data provider indicated that successful salespeople successful salespeople at the most 35% of the time spend their time on closing deals then we should also found that lead generation consumer follow-up strategy and planning sessions and administrative tasks comprised the lion's share of this sales person's time the best of you are only selling 35% of the time always be closing means always work on closing deals if you want to make more money in this industry closed loans more often spend time closing spend time selling or learning how to sell stop processing paperwork get yourself a support team and go out there and sell don't go out there and chase a bunch of meetings that are promises that don't ever deliver because we've all been there before where it's lunch and we promise to feel good about things and then a month later nothing ever happens audit what you do every single day and always be closing so in that vein I've always be closing I've got five rules it's a mental state of mind every deal is dead until it funds to me this will change everything for you when you lose it deal at the end for a variety of reasons cloud on title or is not qualified cosigner drops their credit scores borrower go somewhere else and get the mortgage that deal shouldn't disrupt your sales mantra because it's not even in the bank yet you never lost a deal you didn't have it anyways some deals don't close so your mental state of mind must be always be closing get over the deal that you lost and get the next deal your biggest issue is the fact that you lost a deal that was never even your deal to begin with throw in fifty close thirty cash your check called a good day that's a mentality of a salesperson five rules of selling increase value be happy follow up leverage always wins and then put the nail in the coffin increase value number one only pick up the phone for new business if you're answering your phone you're on someone else's agenda always and if you're on their agenda do not always be closing I only answer my phone if it's for new business if it's someone wants an update I've got a time block for that activity but I'm not gonna rope myself into a rope waddup conversation on an update for 35 or 40 minutes and then I lose all that sales momentum that I juiced up in the morning bio myself in the gym getting in the office early and game planning my day no one is worth more than my time blocking so increasing your value by picking up the phone only for new business what you will find when you only answer the phone for new business is when you do call somebody back they will say thanks for calling me back I've never heard someone say hey thanks for picking up the phone doesn't work that way have enough faith that when you call someone back you're creating more value number two I kind of looted this already don't answer the phone call back number three when you passed the loan off to your team let the customer know that you're part not your assistant but that your partner will take it from there if the person who has a deal that your is on your team is your partner not your assistant the relationship and the respect that you've given is a lot more fourthly put content out so the borrower's think more highly of you I put out content on a daily basis so that when my borrowers are following me they have more respect for me if you aren't seen you're invisible when people are out of sight they're out of mind so when you don't put out content for your customers they're thinking about you when you put content out and thousands can see you you're on top of mind don't you think when rates drop they're gonna think about you or when someone says I bought a home writing a mortgage they're gonna think about you that's the point of putting out content you're increasing your value to be seen is to be heard and be used and understood so putting out content is not oh I didn't get a lead today that's a different conversation about getting leads from content that's another conversation also I have but the point of putting out content is to be relevant and consistent and then lastly over-deliver then make the ask for the referrals but I will promise you that 99% of you are not asking for referrals you're just not you're closing deals and you're saying congratulations here's your steak knives steak knives aren't referral bait steak knives are for someone to think did a good job if you've ever ever ever bought someone's steak knives or a closing umbrella or a barbecue gift bag and then all of a sudden someone that was a friend of their said oh my gosh I love those steak knives who's your loan officer I have to know who they are it I need to get a loan from them if that's the case why do we do it why do we buy steak knives because someone trained us and said that's what you're supposed to be doing that person was not a closer they were provoking and marketing making a cut off your steak knife that you sold to the borrower so the referral program is what makes money our referral program is when the loan closes you mail decline a letter to their office they open the envelope it's a thank-you letter in the letter is 20 Starbucks gift cards buy their entire office coffee slap your business card to the Starbucks card and then will hand out your with money to 20 people that they know like and trust that's how you get business that's how you increase value not by buying steak knives so the first key to being a closer is to increase value once you increase value you have to be happy and your clients must be happy everything in this world is the pursuit of happiness unless you're so disciplined that you give up all the things that make you happy to make everybody else happy and I've not met someone like that even myself I want to be happy I want to see people succeed but I want my family to do well so we're constantly in this pursuit of internal happiness so are your customers so if you know that you want to be happy as a human being and you know that customers also want to be happy because their customers then why not focus on making them happy try smiling when you talk on the phone people will hear the exuberance in your tone of voice if you start smiling be happy smile when you're on the phone be excited about your saying no loan is ever dead it's an attitude knows only a starting point you have a long-term plan for your clients and you'll get them there people know there's a plan they can hold on to hope and happiness how do you get a customer that's a 3.875 customer to refinance into a we call it four and a half five five and a half six higher rate to take cash out you have a plan for them if you leave it on the table and say alright Carolyn you're at 375 I'm gonna give you five and a half cash out thirty-year cash out your credit cards she's gonna say I don't want that rate Freddie at too high of a rate that's not creating a plan for them it's always like look this loan today is gonna give you cash out but it's accomplishing paying off all your bills and fixing your credit score's and then I can come right back in six months and I can refinance you holding down to the market do you believe Carolyn that the rates are going up or going down oh I believe it's going down I'll watch the news great if you believe that and I believe that then our next loan is going to be probably even lower than three eight seven five or at least very close to it so I can get you the cash that you want but I've got a plan for to come right back around and lower your rate later assuming the model cooperates that's telling with a plan otherwise you're not closing the client you're just giving them taking an order hey Carolyn I can give you three eight four five and a half percent I don't want five nine percent okay well great go find somebody else I'm making them happy by saying look we have a plan hang in there the next loan after this loans gonna be better that's two for one I'm gonna get two loans out of it you can go over to or you can go to four oh so make sure you have a plan the consumer must come first you are happier when the consumer is your consumer and I just try not to lose any deals if I can keep the customer happy even if I'm gonna eat it on the chin and make little money on a deal that customer is happy and their happiness allows me to get more deals done and I make sure they know look I am your money I work for a bank that's got fifty five hundred million dollars on warehouse lines or five billion warehouse lines who knows but we've got plenty of capital to spend I treat my banks money like it's my own my bank to me is my investor it's my business and I want to raise capital and then my investor I must take care of their money treat it very well but my banks money is my money and when you speak and you preach like it's your money you have a little bit of confidence think about the mindset shift for a minute let's assume that you went to a bank and said you know what I want to start a lending company and I want to lend loans to consumers I've been doing this for 15 years I know what the hell I'm doing and I've got a whole team of underwriters and processors and licensing people in compliance that'll make sure it's all good I just need the money and the bank goes you know what here you go five hundred million dollars to lend what they basically do this five hundred million dollars to lend if you can win it all one month great we'll take a small split as a return and the rest is all yours that's what we do so treat it like it's your mother like you raise capital for your business I'm lending you on the street to customers and I don't need permission my my investor gave me guidelines if I follow the guidelines I can lend at my discretion and if my customers know that I am the money that I'm gonna Trump open-door offer pad purple bricks Zillow offer any small-time broker any loser lender and he in-house person who doesn't have that same prowess because I have the money and I speak with confidence and when I have confidence and I've got the money I make customers happy now once you set the table you've made them happy this is where we all fall off the wagon it's the follow-up have your team CC you on every single request to the customer be a text and email when there are things needed the only reason why loans don't close from the time we make the sale until the time it funds is processing whether borrowers lag or we lag it's a lag when I text a customer say Jennifer what the hell yeah might in your documentation it comes off differently than when my even my partner does it so I make sure that my team copies me on every single email where they're wanting something from a borrower I can take two seconds to chime in yeah what she said that's all it takes sometimes or a text please cooperate and that's all it takes sometimes because although I'm not selling I'm still involved in managing my process at the end of my day when I'm checking my emails and impacted customers I'm making sure my customers are responding to my team I don't just let it go i ty blach my follow up small communication really matters and the status will tell you is 8 to 12 follow-ups to close the deal we think it's 8 to 12 follow-ups take get a deal but that's not always the case once you get a deal you must continue following up until it funds now it comes down to the most important part of any relationship leverage leverage wins every customer becomes your customer for life that's where we have to change our mentality we've been in this mindset of next 30 days next 30 days next 30 days forever how long are you do that for for your entire life until you're 60 and then you have no clients in your database because all you've been doing have been going back to partners asking with your hand out for more business how about get business give it back to your partners and have leverage over your partners if the customer is happy that's all that matters listening gives you the leverage here's a tip for you guys if you win with heart and passion that's a relationship that lasts a lifetime most loz don't get that you just take the 1003 and you move it on listen with your brain I'm able to accurately pair it back to the customer the facts and figures of what matters to them the most I listen with my heart that's different I'm able to sense their emotional needs when I'm talking to a customer about why they're doing this that's when I break it down and I listen and by listening to why they're actually there you insulate yourself from all these rate people that come in because I'm gonna find out why he is here and I'm gonna create leverage that allows me to win most of you guys don't understand the art in always be closing I'm not just taking an application in my mind I'm closing this person on me when you stop closing you stop winning and you lose leverage and then when you lose leverage you lose I know my customers inner-workings whether they love me or hate me sometimes it doesn't matter we're family because I know where you started and we may have times where rates don't cooperate or I can't get the loan you want but my clients understand that I'm always there for them because I was there in the very beginning and whatever that beginning is if it wasn't your first home maybe but your fourth home maybe it's the first time a Tweel owner refi but I'm still gonna find out why are we here today what do you need and how can I help you so to finish this out it's about putting the nail in the coffin and I make sure that Freddie knows that when we close Freddie I cannot wait to do this again I actually enjoyed this process with you this 30 days was fun it was a lot of fun yeah it was ups and downs but I got to know your banking I found out where you have your money yet I look at your tax returns I learned about your business it was actually a lot of fun to do with you you don't do this every day so it's kind of a fun ride on this train not every ride at the amusement park is a fun they can be scary you can go up you can go down you can go left you can go right but at the end of it you look back and like that was a fun experience and the goal is to develop a light-hearted relationship don't take this too seriously don't take loans so seriously don't take life so seriously life is way more than loans it's about your attitude and to get that win for 30 years if you can get them to win for 30 years and have a light-hearted a relationship have candor back and forth they're a goldmine realize you're a salesperson you aren't a loan officer isn't Starbucks where they're ordering off of a menu that that's the case they don't know for the lowest rate and that's all that matters and how we win this game in the long run against these online lending companies lead generators Zillow's or etc is by putting a nail on the coffin and having an always be closing mentality because our competition is never closing they're only taking orders so take it to the mat that's all I got today they're a lot of fun see you again and let's go crush it hey hope you enjoyed this video we had a ton of fun shooting it we've got a lot more content like it coming out so stay tuned if you're a loan officer or realtor and want my team they handle your social media click on the button below