276 episodes

I Love Mortgage Brokering is the only podcast by Mortgage Brokers for Mortgage Brokers.

If you want to take your mortgage business to the next level then ILMB is the place for you.

You will hear stories, tips and strategies from some of the top Brokers in the country.

I Love Mortgage Brokering Scott Peckford

    • Management
    • 4.8 • 76 Ratings

I Love Mortgage Brokering is the only podcast by Mortgage Brokers for Mortgage Brokers.

If you want to take your mortgage business to the next level then ILMB is the place for you.

You will hear stories, tips and strategies from some of the top Brokers in the country.

    How Gareth Cahill Went From $0 to $48 Million in Just 3 Years

    How Gareth Cahill Went From $0 to $48 Million in Just 3 Years

    Today we are joined by Gareth Cahill, who has been a broker for 3 years and is already at $48 million in production. Gareth is here to discuss the importance of the customer journey and how it can help scale your business.


    [2:07] How did you get into the mortgage business?


    I ended up getting a job in the call centre department of a bank, and brokering was the next logical step.


    [2:48] How long have you been a broker?


    3 years in Canada, but I did have a brokering background in Ireland.


    [4:12] Can you tell us about a failure you have experienced and what you learned from it?


    When I was a banker, I was in a hurry to progress and I changed jobs. More money but also more responsibility. I quickly hated it.

    I ended up going back to my old manager and saying I had made a mistake. They welcomed me back.


    [6:58] What quote has had an impact on your life and business and how do you implement it?


    ‘Everyone’s got a plan until they get punched in the face.’

    You have to have a plan, but it has to be flexible.


    [8:09] What improvements have you made to your systems in the last year?


    Hiring a team.


    [10:08] What changes have you made to your sales process in the last year?


    The same answer. My assistant is helping to refine the client journey.


    [10:32] What growth have you seen in the 3 years since you started?


    First year was $18 million, second year was $27 million, and this year is on track for $48 million.


    [11:49] What was your biggest takeaway from our training program?


    Focus on the client journey.


    [12:37] What’s the one thing holding brokers back from success?


    Training and education.


    [13:40] What internet resource or software do you recommend?


    Zoom and BombBomb.


    [14:59] What book would you recommend?


    Who Not How by Dan Sullivan.

    Can’t Hurt Me by David Goggins.


    [16:07] If you could go back in time to your first day in business, what advice would you give yourself?


    Don’t be intimidated.


     


    Contact Gareth here: www.cahillmortgageteam.ca


    Find out more about the $25 Million Dollar Blueprint: www.get25million.com


    Check out our other podcast, 10 Loans a Month: www.10loansamonth.com

    • 17 min
    How Asim Ali Built a $175 Million Mortgage Business in 4 Just Years

    How Asim Ali Built a $175 Million Mortgage Business in 4 Just Years

    Today we are joined by Asim Ali, a broker based in Surrey, B.C. Asim is returning to the podcast for his second appearance to discuss shifting your focus to team building and finding the right people for your team. He also provides insight on how he ensures his team is operating efficiently.


    [2:08] What changes have you made in the last year to help your business grow?


    The biggest change has been towards team building. I realized as a broker there is only so much I can do in one day.


    [3:39] Was letting people go a problem for you?


    It was a sticking point.

    It’s going to cost money and time in the future if you don’t do what you need to.


    [5:37] What size team did you have and what size is it now?


    Last year there was 3 of us, and I have just hired 2 more people.

    My ideal team size if I want to reach $500 million is 6 people.


    [6:56] How do you train the people on your team?


    Everyone has different qualities. Based on that and what they enjoy, I assign them tasks.

    I take time to learn about them.

    I don’t have time to train so it is mostly hands-on.

    I look for people who are hardworking, fast learners and that are good with tech.


    [9:00] Do the people you just hired have previous experience in the industry?


    One does, the other doesn’t.


    [9:58] How many people that work for you come from a debt collecting background like yourself?


    Just one.


    [11:30] How did you find your team?


    Nav was someone I already knew, Deep we found through a job posting.

    Of the new hires, one was a referral, and one was a previous client.


    [12:13] What is the source of your business?


    It’s built over time.

    I would say around 80% comes from our database and referrals.


    [13:10] Why do you think that is?


    Communication is a huge part of our process.

    I nurture relationships.


    [14:23] When the pandemic is over, do you think you will go back to face-to-face business?


    It will be a mix. The face-to-face is important for relationship building.


    [15:27] What changes have you made since COVID hit that have helped you?


    Streamlining the online process and using more automation with email templates.


    [16:52] When a lead comes in, what is the process?


    Before, I was taking all initial leads and the follow up went to the team.

    It’s not sustainable for growth to continue that way. I need to be able to spend time to create more efficient systems.


    [18:50] If someone else takes a lead, do they run it end-to-end?


    We are working on making that the case.


    [20:39] What advice would you go back and give yourself when you were at $100 million in production?


    Start team building earlier. You should get an assistant after you hit $30 million in production.


    [21:59] Is there any other advice you would like to give our listeners?


    Don’t be afraid to ask other brokers for help. Create relationships that you can build on.


     


    Contact Asim here: https://asimali.ca/


    Find out more about the $25 Million Dollar Blueprint: www.get25million.com
    Check out our other podcast, 10 Loans a Month: www.10loansamonth.com

    • 25 min
    Scott Peckford - Want to Fund 10 Loans a Month?

    Scott Peckford - Want to Fund 10 Loans a Month?

    In today’s role reversal episode, Chris Kolinski is interviewing Scott Peckford about everything he has going on and what is on the horizon for the future. This includes the new 10 Loans a Month podcast that Scott has created.


    [2:33] How many projects do you have in the works right now?


    Being creative is a curse because there’s always business ideas forming. You don’t have to chase every one of them.

    Collaboration and partnering is key for success.

    “Who Not How” by Dan Sullivan totally changed my perspective.


    [5:40] It’s about building teams and having good people behind you so you can focus on what you are good at.


    If you want to be a broker, be a broker. Hire someone else to deal with the rest.


    [6:55] You’ve recently started a program to help brokers with that issue, correct?


    We started doing hiring for assistants just for the people in our coaching classes.

    That process became a workshop called Hired in 7 days.

    I had to hire someone else because my right-hand girl Lauren is flat out hiring for people.


    [10:07] That’s one of the rabbits you’re chasing.


    I’m not chasing it. I check in with Lauren once or twice a week.

    We talk about mapping the customer journey, which every broker should be doing.


    [11:00] Tell us about what else you have coming up.


    The 10 Loans a Month podcast is starting. It’s short episodes, with just me, covering specific topics.

    The $25 Million Blueprint is back in January. It focuses on making $25 million a year while still working 6 hours a day.

    The assistant training program is on pause until I can find the right person.


    [15:00] When does the new podcast launch?


    This week! Go to 10loansamonth.com to find it.

    I’m also excited about the Mortgage Tech podcast we have in the works.


    [18:20] Any final thoughts?


    Check out the 10 Loans a Month podcast.

    Watch for the Mortgage Tech podcast.

    Check out the $25 Million Blueprint in January.

    Read ‘Who not How’ by Dan Sullivan.


    Find out more about the $25 Million Dollar Blueprint: www.get25million.com
    Check out our other podcast, 10 Loans a Month: www.10loansamonth.com

    • 19 min
    How Brad Nemes Went From $12 Million a Year to $28 Million

    How Brad Nemes Went From $12 Million a Year to $28 Million

    Today we are joined by Brad Nemes, a mortgage broker with Capital Mortgages in Ottawa. Brad is going to reveal how he impressively went from being stuck at $12 million per year for 10 years to reaching $28 million this year.


    [2:25] How did you get into the mortgage business?


    I started in restaurants, moved into sales, and was head hunted into reverse mortgages.

    I’ve been a broker with Capital for 17 years.


    [3:49] What quote has had an impact on your life and business and how do you implement it?


    “What are you doing today to make money for tomorrow.”

    It keeps me focused on being busy.


    [4:43] Tell us about a failure you have experienced and what you learned from it.


    People new to the business were surpassing me. I’d become complacent.

    That changed when you sent out the email for the $25 Million Blueprint in August 2017.


    [6:20] Volume wise, where were you then versus now?


    For 10 years I was at $12 million.

    This year, I’m on track for $28 million.


    [6:35] What are the new problems you are facing with that production increase?


    I only have one uncertified assistant.

    I need someone with that certification on the front end.


    [7:46] What improvements have you made to your systems in the last year?


    I went from using Trello to Door, which allows for more automation.


    [9:15] What have you changed in your sales process?


    All the digital tools are great for automation.


    [11:03] What is your biggest takeaway from being in the program for the last 3 years?


    Being around other likeminded brokers.


    [12:13] What’s one thing holding back brokers from success?


    Not picking up the phone.


    [12:30] What’s one habit you have that’s made you successful?


    Using the paper calendar on my desk to keep me on track.


    [13:46] What internet resource or software tool would you recommend?


    Lender Spotlight.

     

    VIP Emails.


    [15:30] What book would you recommend?


    Who Not How by Dan Sullivan.


    [16:29] If you could go back in time what advice would you give yourself starting out?


    Read more books.

    Do better networking.

    Buy more rental properties.

    Keep going to open houses.


    Contact Brad here: http://bradsmortgages.com/


    Find out more about the $25 Million Dollar Blueprint: www.get25million.com
    Check out our other podcast, 10 Loans a Month: www.10loansamonth.com


     

    • 18 min
    What Are the Top 5 Database Marketing Mistakes Mortgage Brokers Make?

    What Are the Top 5 Database Marketing Mistakes Mortgage Brokers Make?

    Today we are joined by Ryan Wiley, a broker based in Toronto and CEO of TheVIPClub.io. Ryan will be bringing us through the 5 mistakes brokers make when marketing to their database and the 3 things you can do to bring in a lead within 24 hours.

    [2:53] Can you tell us about yourself?

    I’ve been a broker for approximately 12 years.
    7 or 8 years ago, my business plateaued, and I realized I wasn’t spending enough time or energy on my database.
    I connected with Scott, who owned The VIP Club at the time, and the business grew 40% year over year.
    I purchased The VIP Club around a year ago and realized my passion for marketing.

    [4:06] How many emails do you send out a month?

    Between 80,000 and 90,000. It’s always growing.
    I created a fake email address and joined 100 brokers’ lists to learn about the competition.

    [5:25] Let’s go through the 5 mistakes brokers make when marketing to their database. What is the first mistake you see?

    Not having a list/database.
    Not updating or being consistent with their lists.
    There are simple steps you can take to automate the process.

    [7:30] What’s the second mistake?

    Constantly marketing about interest rates.
    If you are hitting people over the head with rates, what’s the first conversation they are going to want to have?
    It confuses them when you try and explain rates aren’t the most important thing.
    It sets you up for future failure and comes across as inauthentic.

    [10:13] What’s the third mistake?

    Not having calls to action.
    Putting information out there with no engagement.
    It’s as simple as putting a calendar link in an email or asking a question.
    It’s about creating connection.

    [12:38] What’s the fourth mistake?

    Not connecting with clients.
    Making it all about you and your business. It should be about what you can do for them.
    It starts with a question. In The VIP Club, we do contests where you have to answer a question to win.
    Choose strategic questions and look for opportunities in the responses.
    You aren’t trying to reach your whole database, just a section that you can go deeper with.

    [18:08] What is the fifth and final mistake you see brokers making?

    Putting out generic content.
    The content isn’t relevant or has no personality.
    Sign up for other brokers’ lists and look at what they are putting out.

    [20:30] What are the 3 things brokers can do to bring in a lead within 24 hours?

    These things are simple and cost no money.
    Ask those strategic questions. Try business related questions to start.
    Currently, there are rate specials so let your list know there’s opportunity for them to save money. Put together a blurb and send it out. Put a call to action at the end.
    Build a case study. Explain how you have helped a certain type of client out in the past. Send it out, explain it and give a call to action. It will resonate with some of your list.

    [25:42] Any final thoughts?

    These are simple things.
    We can go into deeper strategies on another episode.
    The energy you put into this can be repurposed in many different ways.

     

    Contact Ryan here: https://thevipclub.io and ryan@thevipclub.io

    Contact Scott here: scott@ilovemortgagebrokering.com

    If you’re interested in becoming a deal creator, visit https://www.10loansamonth.com/call/ to find out more.

    • 28 min
    Jewels Ferris: From Bartender to Top 2% Mortgage Broker

    Jewels Ferris: From Bartender to Top 2% Mortgage Broker

    Today we are joined by Jewels Ferris, a broker with DLC as well as Scott’s business partner. Jewels joins us today to discuss process, prospecting, and how she went from being a brand-new broker to the top 2% in her company.

    [3:03] How did you get into the mortgage business?

    I was a bartender and manager of a restaurant, and a customer came in who owned his own broker business. He took me aside and said he thought it was something I would be good at and there was a job for me if I wanted it.
    I was looking for a change, so I jumped at the chance.
    I got my license and volunteered while I was studying.

    [4:49] How long did you volunteer for?

    I volunteered for around 6 months and was an underwriter for about 18 months.

    [6:19] What quote has had an impact on your life and business and how do you implement it?

    ‘I work to live; I don’t live to work’ and ‘don’t sweat the small stuff.’
    I set boundaries. This business is so demanding, so it’s easy to work 14-hour days every day.
    I don’t work weekends and I don’t negotiate my morning routine.
    I delegate to my team so I can start the day from a place of peace.

    [8:39] What’s the reasoning behind not taking meetings on Mondays?

    Mondays are the busiest days.
    Not having meetings allows me more personal development time and more time to catch up on requests.

    [9:35] Tell us about a failure you have experienced and what you learned from it.

    Hiring a team was extremely challenging and took a while.
    I’d never owned a business before, and I don’t think I was compensating correctly in the beginning.
    You get what you pay for.

    [12:20] What’s something you’ve changed or improved in your systems?

    We recently implemented more control to the lawyer appointment process.
    Our clients sign a lawyer consent form for information sharing and we have templated emails that we send out with detailed breakdowns of each client.
    I also make recommendations for lawyers and around 80-90% of clients take that recommendation.
    Lawyers communicate directly with us so we can put out any fires.

    [15:23] What have you been doing to grow your business?

    I took the 10 Realtors course.
    We are organically growing through past client referrals.

    [16;29] I would say that your process is so good that it has led to growth, would you agree?

    100%
    We’ve worked at growing and bettering our process for years, and I think this year we nailed it.

    [17:44] How do you apply high touch philosophy to your business?

    By controlling the process, we make sure it goes smoothly.
    We will do anything we possibly can for our clints.

    [19:48] What’s the one thing holding brokers back from success?

    Not having processes in place.

    [20:50] What’s one habit that’s made you successful?

    Positivity and genuine care for people.

    [21:40] What internet resource or software tool would you recommend?

    Pipedrive CRM.

    [21:51] What book would you recommend?

    Dustan Woodhouse’s Be the Better Broker series.

    [22:40] What does your production look like this year?

    We are on track for $60 million.

    [23:30] What’s your goal for next year and how do you plan to reach it?

    $80 million.
    I need to put myself out there more and hire at least one more person.

    [24:20] If you could go back in time, what advice would you give yourself starting out?

    Get your database in place right away.

    [25:44] Any final advice?

    Don’t be afraid to take risks and accept challenges.

     

    Contact Jewels here: https://www.jewelsferris.com

    If you’re interested in becoming a deal creator, visit https://www.10loansamonth.com/call/ to find out more.

    • 27 min

Customer Reviews

4.8 out of 5
76 Ratings

76 Ratings

adrianschulz ,

Authentic and actionable

This is a great podcast for anyone who wants to hear the real story and be able to take action that gets results. Thank you Scott!

LaraRockefeller ,

Great podcast for agents!

So helpful!! I love all the tips and interviews with people in the industry. Very relevant.

MicAst12 ,

Never Stop!

When starting my career I had an hour commute to the office. I listen to these pod casts over and over. I absolutely credit much of my knowledge to the information shared on these episodes! They are insightful, thought provoking, sometimes funny & most of all inspiring!
Thank you for all you do for our industry.
Michelle Aston

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