October 9, 2023 • 11 mins
What if the secret to becoming a top-performing loan officer was just one step away? In this episode, Jeff pulls back the curtain on that crucial, singular factor that sets the high-flyers apart from the rest: lead generation. That's right, it’s not about just knowing your loans and market trends, but about creating and nourishing new referral sources and client databases.
Jeff takes a deep dive into the three main sources of leads for the highest-performing loan officers – realtors, existing client databases, and social media. Learn how to nurture relationships with real estate agents so their referrals become a game-changer for your business. Discover how to turn your existing client database into a goldmine with the right post-closing marketing. And hear about the correct way to utilize a social media presence and strategy in the loan industry. This episode is packed with valuable insights and strategies to elevate your business to the top tier. So, come along, grab your clubs, and let's tee off into the world of HOME LOANS!
Important Links & Info:
Follow Jeff:
Instagram: https://www.instagram.com/jeffsmithaz/
Facebook: https://www.facebook.com/profile.php?id=100002927397116
LinkedIn: https://www.linkedin.com/in/jeff-smith-40627016/
Jeff Smith - Tiger Home Loans
📲 480.909.4000
📩 jeff@tigerhomeloans.com
🔗 www.tigerhomeloans.com
Equal Housing Opportunity
Tiger Home Loans NMLS: 2425582 NMLS: 413643
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:04):
Welcome to the show fairways and finance.
My name is Jeff Smith.
I've been in the mortgagebusiness for 16 years top
quarter percent L O nationwide.
And you know this podcast.
We want to talk about yourfinances, how to grow and
accumulate wealth and all thingsrelated to the mortgage
industry.
But we're golf lovers here aswell, so we're going to work in
some golf.
Don't worry for my golf loversout there.
(00:26):
We got you and I hope you enjoythe show.
Okay, welcome back to the showEverybody, fairways and finance.
I'm your host, jeff Smith, hereto talk to you today about that
one thing, that one thing thatseparates the highest producing
loan officers from everybodyelse.
(00:47):
And it really is one thing, andI'm going to tell you what that
thing is lead generation.
Lead generation is the singlebiggest differentiator between
the highest producing andhighest earning loan officers
and everybody else.
And you know the best loanofficers are the best
(01:09):
salespeople, and I'm thinkingsales in terms of generating and
developing referral sources.
You know, when we think aboutthe consumer, there is a sales
process with the consumer andyou know we're trying to sell a
consumer to go with us becausewe'll take great care of them
and provide a good product, butwe're not selling them on buying
(01:32):
a house or not buying a houseBecause that's such a big
decision it's.
That's not something you cansell somebody undoing.
They've already come to thatconclusion.
You're just trying to sell themon why they should go with you.
But what really separates thebest producers is their ability
to generate leads from newreferral sources and from their
(01:52):
their database of clients.
So that, beyond being reallygood at doing loans or
understanding underwritingguidelines really well, or
knowing the markets really well,or being super organized, you
know all those things arehelpful.
No doubt you know, and thebetter you can be in those areas
, the better you're going to beas a loan officer.
I've known a lot of LOs over theyears who close a ton of deals,
(02:14):
they make a outload of moneyand they don't know that much
about the markets.
They don't know that much aboutunderwriting guidelines
shockingly little aboutunderwriting guidelines and
they're not very organized, youknow.
So it's chaos, but they'reclosing a ton of deals and
making a ton of money and andsome of those people where
(02:35):
they've been really smart isthey've hired other people to
help them in those areas.
So whether you are a mortgagegenius or not doesn't matter if
you can't bring in the deals.
So lead generation where thepillars that the highest
producing loan officers generateleads from?
(02:56):
Well, the first is realtors.
You look at the LOs in thecountry who are making the most
money, who are closing the mostloans.
They are doing a significantportion of their business as
referrals from real estateagents, and the reason is is
that real estate agents aredealing with clients who need to
buy a home, and real estateagents are the quarterback of
(03:18):
the transaction For the averageclient.
They're looking to their realestate agent to get referrals to
lenders, to title companies, toinspection people, to home
warranty people, to AC repairguys and plumbers and
electricians and all thesedifferent areas of trades that
are going to need to help themnot only acquire the home but
(03:41):
then maintain the home afterclosing.
The realtor is the hub for allof those connections, and so
it's a natural segue forrealtors A lot of times to be in
a position to connect theirclients with a loan officer who
they know like and trust thebest.
Realtors also know that theywant a consistent loan officer
(04:04):
handling their clientsapplications, because the worst
thing that can happen for a realestate agent is to get in the
car, spend three consecutiveweekends showing their client 30
homes, finally write up thatoffer, get it under contract and
then get a call from the lendertwo weeks in that there's a
problem on the loan and they'renot going to be approved.
(04:25):
Now that realtor is wasted allof that time with that client.
The client's upset, realtorsupset.
They haven't made any money.
It's a huge waste of time.
And so realtors especially thebetter ones depend on having a
solid loan officer who does agood job upfront, who knows how
to close deals, who they cansend all of their clients to.
(04:47):
And the best realtors will urgetheir clients to get
pre-approved with theirpreferred lender for that very
reason.
So real estate agents are ahuge source of business for any
loan officer.
The second biggest source ofbusiness for loan officers is
their existing client database.
So you're only going to have aclient database if you've been
(05:09):
in the business, right.
But as you build up yourdatabase, if you are staying in
front of your clients withmarketing, and if you treated
them well and did a good job forthem when you closed their
transaction, when they need amortgage financing again down
the road, you're going to be thefirst person that they call
(05:31):
when their friends and familyneed help with mortgage
financing.
You are going to be the firstperson that they call, but
they're only going to call youif you did a great job when you
closed their transaction and ifyou stayed in touch with them
post closing.
So post closing marketing doesnot need to be over complicated.
(05:51):
I've got a great CRM that sendsout birthday emails and texts.
It sends out a weekly emailwith different mortgage flyers
and I've got a monthlynewsletter and then every other
month I send out a personalnewsletter that I type up.
We include some photos of myfamily, and then the title
(06:12):
company that we partner withmails it out to my client
database.
And then on the other months myclients are getting a postcard
in the mail as well.
So they're getting once a monthmailer and they're getting once
a week email.
They're getting a birthday wishon their birthday and then I
(06:32):
have my CRM set up to alert mewhen rates come down and I have
clients in my database who couldbenefit from refinancing.
So when that happens, then I'mreaching out to my clients to
offer them a refinance.
So those things right there.
Very simple, they're automaticand really take very little time
(06:53):
to execute.
But that right there in and ofitself is enough to stay top of
mind with your clients.
Now what would be even nextlevel from there is if you
called your clients on theirbirthday to personally wish them
a happy birthday, which I dowith my best clients.
You could also call clients ontheir loan anniversary, their
anniversary month of the closingwhen you close their
(07:15):
transaction.
Another great time to callclients is in the fall, when
we're getting to year end andwe're going to be approaching
tax time, coming into the newyear.
That whole period around theholidays you could be calling
your clients to wish them happyholidays, thank them for being a
client, to send them a copy oftheir final CD and settlement
(07:36):
statement that they're going toneed come tax time when they
file their taxes early thatcoming year.
And then the next level fromthere would be to send that CD
and settlement statement totheir CPA and call the CPA and
let them know that you sent itover and introduce yourself.
Now you could potentially pickup that CPA as being a preferred
lender for them.
So just a simple, regimentedprocess of email marketing, text
(08:03):
marketing, mailing and calling.
You do that.
You're going to be in front ofyour clients for life and when
they have mortgage needs you'regoing to be the first person
that they call.
So that is client database.
Last segment is social media.
Social media I think now hasbecome huge in any sales
(08:23):
industry.
Social media obviously is hugefor the average person and it's
only going to become moreimportant as younger generations
grow up and become homeownersand home buyers.
And so having a really greatsocial media marketing plan is
crucial and being active onsocial media is also crucial.
So not only do you want to haveconsistent posting going out so
(08:46):
I've got a social media companythat I work with.
Know how media shout out toDylan Burns.
He helps me to put together allof the content that gets posted
and his team does the postingfor me, so that I've got content
going out five days a week onall of my accounts, all my
platforms.
But then I'm also being activeon social media by reaching out
(09:10):
to people, making newconnections, starting
conversations, recruiting,talking to new realtors.
As I have new clients come in,I'm friend requesting them and
getting connected with them insocial media so that can become
another outlet where you are infront of your past clients and
referral partners.
So social media the first stepwe talked about here was
(09:33):
generating realtor partners.
The second step was marketingto your client database.
The third step is social media,which markets to clients and
referral partners.
So social media ties it alltogether.
And not only that, but theaverage person is spending a lot
of time on social media.
When you can be in their phone,when they swipe up and unlock
(09:54):
their phone and open Instagramif your handsome or beautiful
mug shot is right there in theirface, that is very powerful.
And so social media is a spacethat we've all got to be in, but
we've got to be in it more thanjust posting.
It's got to be active, wherewe're creating new connections
and building our database withinsocial media.
(10:16):
So these are simple ideas.
Nothing I've shared here issuper complicated and you
shouldn't be doing anythingsuper complicated.
You don't need to To be veryeffective in the mortgage
business.
It's about having a simple,executable plan that you rinse
and repeat every week, everymonth, every year, and it's like
clockwork.
It's just rolling all the timeand it's hitting all of the
(10:39):
right angles.
So referral partners,specifically realtors, client
database marketing, social mediamarketing you hit all those
things really strong.
Your mortgage practice willblow up.
I 100% guarantee it.
Thanks for tuning in.
Hey guys, thanks for listening.
I hope you enjoyed the show andgot some valuable information
(11:01):
out of it.
I want to help to educateothers and help people grow
their business and build wealth,and I can only do that with
referrals and your help gettingthe word out about this podcast.
So if you come across someoneyou think could benefit from
this, please share it with them.
And if there's somebody whocomes in mind, a five star
review would go a long way inhelping me to grow this podcast
and grow the brand.
So appreciate your support.
(11:21):
Plus, I really appreciate youcoming on this show.
Welcome to the show fairways and finance.
My name is Jeff Smith.
I've been in the mortgagebusiness for 16 years top
quarter percent L O nationwide.
And you know this podcast.
We want to talk about yourfinances, how to grow and
accumulate wealth and all thingsrelated to the mortgage
industry.
But we're golf lovers here aswell, so we're going to work in
some golf.
Don't worry for my golf loversout there.
(00:26):
We got you and I hope you enjoythe show.
Okay, welcome back to the showEverybody, fairways and finance.
I'm your host, jeff Smith, hereto talk to you today about that
one thing, that one thing thatseparates the highest producing
loan officers from everybodyelse.
(00:47):
And it really is one thing, andI'm going to tell you what that
thing is lead generation.
Lead generation is the singlebiggest differentiator between
the highest producing andhighest earning loan officers
and everybody else.
And you know the best loanofficers are the best
(01:09):
salespeople, and I'm thinkingsales in terms of generating and
developing referral sources.
You know, when we think aboutthe consumer, there is a sales
process with the consumer andyou know we're trying to sell a
consumer to go with us becausewe'll take great care of them
and provide a good product, butwe're not selling them on buying
(01:32):
a house or not buying a houseBecause that's such a big
decision it's.
That's not something you cansell somebody undoing.
They've already come to thatconclusion.
You're just trying to sell themon why they should go with you.
But what really separates thebest producers is their ability
to generate leads from newreferral sources and from their
(01:52):
their database of clients.
So that, beyond being reallygood at doing loans or
understanding underwritingguidelines really well, or
knowing the markets really well,or being super organized, you
know all those things arehelpful.
No doubt you know, and thebetter you can be in those areas
, the better you're going to beas a loan officer.
I've known a lot of LOs over theyears who close a ton of deals,
(02:14):
they make a outload of moneyand they don't know that much
about the markets.
They don't know that much aboutunderwriting guidelines
shockingly little aboutunderwriting guidelines and
they're not very organized, youknow.
So it's chaos, but they'reclosing a ton of deals and
making a ton of money and andsome of those people where
(02:35):
they've been really smart isthey've hired other people to
help them in those areas.
So whether you are a mortgagegenius or not doesn't matter if
you can't bring in the deals.
So lead generation where thepillars that the highest
producing loan officers generateleads from?
(02:56):
Well, the first is realtors.
You look at the LOs in thecountry who are making the most
money, who are closing the mostloans.
They are doing a significantportion of their business as
referrals from real estateagents, and the reason is is
that real estate agents aredealing with clients who need to
buy a home, and real estateagents are the quarterback of
(03:18):
the transaction For the averageclient.
They're looking to their realestate agent to get referrals to
lenders, to title companies, toinspection people, to home
warranty people, to AC repairguys and plumbers and
electricians and all thesedifferent areas of trades that
are going to need to help themnot only acquire the home but
(03:41):
then maintain the home afterclosing.
The realtor is the hub for allof those connections, and so
it's a natural segue forrealtors A lot of times to be in
a position to connect theirclients with a loan officer who
they know like and trust thebest.
Realtors also know that theywant a consistent loan officer
(04:04):
handling their clientsapplications, because the worst
thing that can happen for a realestate agent is to get in the
car, spend three consecutiveweekends showing their client 30
homes, finally write up thatoffer, get it under contract and
then get a call from the lendertwo weeks in that there's a
problem on the loan and they'renot going to be approved.
(04:25):
Now that realtor is wasted allof that time with that client.
The client's upset, realtorsupset.
They haven't made any money.
It's a huge waste of time.
And so realtors especially thebetter ones depend on having a
solid loan officer who does agood job upfront, who knows how
to close deals, who they cansend all of their clients to.
(04:47):
And the best realtors will urgetheir clients to get
pre-approved with theirpreferred lender for that very
reason.
So real estate agents are ahuge source of business for any
loan officer.
The second biggest source ofbusiness for loan officers is
their existing client database.
So you're only going to have aclient database if you've been
(05:09):
in the business, right.
But as you build up yourdatabase, if you are staying in
front of your clients withmarketing, and if you treated
them well and did a good job forthem when you closed their
transaction, when they need amortgage financing again down
the road, you're going to be thefirst person that they call
(05:31):
when their friends and familyneed help with mortgage
financing.
You are going to be the firstperson that they call, but
they're only going to call youif you did a great job when you
closed their transaction and ifyou stayed in touch with them
post closing.
So post closing marketing doesnot need to be over complicated.
(05:51):
I've got a great CRM that sendsout birthday emails and texts.
It sends out a weekly emailwith different mortgage flyers
and I've got a monthlynewsletter and then every other
month I send out a personalnewsletter that I type up.
We include some photos of myfamily, and then the title
(06:12):
company that we partner withmails it out to my client
database.
And then on the other months myclients are getting a postcard
in the mail as well.
So they're getting once a monthmailer and they're getting once
a week email.
They're getting a birthday wishon their birthday and then I
(06:32):
have my CRM set up to alert mewhen rates come down and I have
clients in my database who couldbenefit from refinancing.
So when that happens, then I'mreaching out to my clients to
offer them a refinance.
So those things right there.
Very simple, they're automaticand really take very little time
(06:53):
to execute.
But that right there in and ofitself is enough to stay top of
mind with your clients.
Now what would be even nextlevel from there is if you
called your clients on theirbirthday to personally wish them
a happy birthday, which I dowith my best clients.
You could also call clients ontheir loan anniversary, their
anniversary month of the closingwhen you close their
(07:15):
transaction.
Another great time to callclients is in the fall, when
we're getting to year end andwe're going to be approaching
tax time, coming into the newyear.
That whole period around theholidays you could be calling
your clients to wish them happyholidays, thank them for being a
client, to send them a copy oftheir final CD and settlement
(07:36):
statement that they're going toneed come tax time when they
file their taxes early thatcoming year.
And then the next level fromthere would be to send that CD
and settlement statement totheir CPA and call the CPA and
let them know that you sent itover and introduce yourself.
Now you could potentially pickup that CPA as being a preferred
lender for them.
So just a simple, regimentedprocess of email marketing, text
(08:03):
marketing, mailing and calling.
You do that.
You're going to be in front ofyour clients for life and when
they have mortgage needs you'regoing to be the first person
that they call.
So that is client database.
Last segment is social media.
Social media I think now hasbecome huge in any sales
(08:23):
industry.
Social media obviously is hugefor the average person and it's
only going to become moreimportant as younger generations
grow up and become homeownersand home buyers.
And so having a really greatsocial media marketing plan is
crucial and being active onsocial media is also crucial.
So not only do you want to haveconsistent posting going out so
(08:46):
I've got a social media companythat I work with.
Know how media shout out toDylan Burns.
He helps me to put together allof the content that gets posted
and his team does the postingfor me, so that I've got content
going out five days a week onall of my accounts, all my
platforms.
But then I'm also being activeon social media by reaching out
(09:10):
to people, making newconnections, starting
conversations, recruiting,talking to new realtors.
As I have new clients come in,I'm friend requesting them and
getting connected with them insocial media so that can become
another outlet where you are infront of your past clients and
referral partners.
So social media the first stepwe talked about here was
(09:33):
generating realtor partners.
The second step was marketingto your client database.
The third step is social media,which markets to clients and
referral partners.
So social media ties it alltogether.
And not only that, but theaverage person is spending a lot
of time on social media.
When you can be in their phone,when they swipe up and unlock
(09:54):
their phone and open Instagramif your handsome or beautiful
mug shot is right there in theirface, that is very powerful.
And so social media is a spacethat we've all got to be in, but
we've got to be in it more thanjust posting.
It's got to be active, wherewe're creating new connections
and building our database withinsocial media.
(10:16):
So these are simple ideas.
Nothing I've shared here issuper complicated and you
shouldn't be doing anythingsuper complicated.
You don't need to To be veryeffective in the mortgage
business.
It's about having a simple,executable plan that you rinse
and repeat every week, everymonth, every year, and it's like
clockwork.
It's just rolling all the timeand it's hitting all of the
(10:39):
right angles.
So referral partners,specifically realtors, client
database marketing, social mediamarketing you hit all those
things really strong.
Your mortgage practice willblow up.
I 100% guarantee it.
Thanks for tuning in.
Hey guys, thanks for listening.
I hope you enjoyed the show andgot some valuable information
(11:01):
out of it.
I want to help to educateothers and help people grow
their business and build wealth,and I can only do that with
referrals and your help gettingthe word out about this podcast.
So if you come across someoneyou think could benefit from
this, please share it with them.
And if there's somebody whocomes in mind, a five star
review would go a long way inhelping me to grow this podcast
and grow the brand.
So appreciate your support.
(11:21):
Plus, I really appreciate youcoming on this show.
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.