Made by mortgage pros, for mortgage pros, to develop better mortgage pros.
Building Wealth in Real Estate
Ollie and Eric discussed their experiences in the loan industry, focusing on the importance of building relationships and offering long-term strategies.
Both agreed on the value of paying for mentorship and doing due diligence in finding the right mentor.
They emphasized the importance of building a purchase business as a stable foundation, regardless of market changes, and highlighted the value of learning from influential figures in the field, like Alex Hormozi.
They also discussed a business proposition for a branding event in San Diego.
Towards the end, they talked about the potential for future collaborations, including regular discussions about the state of New York real estate.
Paid and Organic Social Strategies
Eric and Cache discuss the importance of having a podcast and using social media to promote their mortgage business.
Eric shares his experience of moving from California to Texas and Colorado and growing his mortgage business, focusing on attracting agents and staying in touch with past contacts through social media.
They emphasize the value proposition for referral partners, such as real estate agents and loan officers, and the need for clear communication and clear communication with agents. Cache shares his experiences with teaching classes for loan officers and emphasizes the benefits of using events as an attraction rather than a promotion.
They consider hiring a shared loan officer (LLO) to tap into their shared CRM system. The conversation also touches on social media platforms like Instagram, Tiktok, and Facebook to reach out to potential clients and build relationships.
Building A Well Rounded Business
Rebecca and Eric discuss the importance of understanding clients' fears and concerns and using logic and logic to address them in the mortgage industry.
They emphasize the need for a mindset of finding the problem and fixing it on the front-end to solve problems that originators don't even know they can solve. Eric shares his experience working as a financial planner and focusing on problem-solving, while Rebecca shares her experience as a mortgage broker in Clarksville, Tennessee.
They discuss the challenges of marketing to pre-approval clients and the challenges faced in the current market, emphasizing the need to build relationships with realtors and treating them as partners rather than just clients.
They also discuss the shift in the market and partnering with the right people with the necessary skills and experience to succeed.
Eric and Jimmy had a conversation about their backgrounds and experiences in the mortgage industry. Jimmy shared his journey from finance in corporate America to focusing on credit repair, and his observations on New York residents moving to New Jersey.
They discussed the importance of effective communication and the strategies for generating business. Jimmy emphasized the value of community involvement and relationship building, and Eric agreed, highlighting the importance of diversifying strategies.
They also touched on financial planning and advisement for clients, and the importance of authentic relationships with referral partners. The conversation ended with a discussion on building relationships, loan officer processes, and the value of coaching.
They recommended books like 'The Go-Giver' and 'Give and Take' by Adam Grant for those interested in building a referral-based business.
Understanding the Mortgage Industry’s Economics
Megan Anderson, the VP of client relations at MBS Highway, discusses the importance of understanding the mortgage industry's economics and working for Barry, one of the top real estate forecasters in the industry.
She emphasizes the need to build relationships with originators and understand the economics of the industry to better understand the market. Megan and Eric discuss the impact of interest rates and inflation on the economy, mentioning that inflation will moderate and mortgage rates will likely come down in the next couple of months.
They also talk about recessionary indicators such as bank failures and bank failures cutting into the recession. Megan explains that the unemployment rate is a sign of a recession, but it hasn't turned yet. They emphasize the need for tight inventory and growing demand to meet demand.
Transitioning from Realtor to Loan Officer: Is it Worth the Change?
Hey there! In this episode, we dive deep into the comparison of roles between loan officers and realtors. We explore the challenges, differences, and opportunities that come with each profession. Here are the key takeaways from this episode:
Personality plays a significant role: Choosing between being a loan officer and a realtor depends on your personality and preferences. Both roles require different skill sets and responsibilities, so it's important to consider what suits you best.
Loan officers wear multiple hats: Loan officers often have to juggle various tasks and sometimes even step into the realtor's shoes. They handle complex financial processes and deal with larger sums of money, which requires attention to detail and compliance.
Building relationships is crucial: Both loan officers and realtors rely on building strong relationships with clients and industry professionals. Being a resource and providing value to clients is key to success in both roles.
Work ethic is essential: The mortgage industry demands hard work and dedication. Loan officers need to invest time and effort into their work, thinking like a business owner and constantly improving their processes, technology, training, and onboarding.
Transitioning between roles: Many professionals in the industry transition from being a realtor to becoming a loan officer or vice versa. It's important to consider your desire for control, dealing with finances, and personal preferences when making this transition.
Join us in this insightful episode as we explore the differences, challenges, and rewards of being a loan officer versus a realtor. We provide valuable insights and personal experiences to help you make an informed decision about your career path in the mortgage industry.
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