Loan Officer Sales Training 04/15/24: Staying Motivated as a Loan Officer

In the fast-paced world of mortgage lending, maintaining motivation is key to success. Join us on Loan Officer Sales Training as we delve into the art of staying motivated as a loan officer.

In this episode, we explore effective strategies and techniques to keep your spirits high and your productivity soaring. From setting meaningful goals to cultivating a positive mindset, our expert guests share invaluable insights to help you overcome challenges and achieve your professional aspirations.

Whether you're facing a slump or striving for continuous growth, tune in to discover how to stay motivated and inspired in your journey as a loan officer. Don't miss this opportunity to reignite your passion and drive for success!

For more episodes visit:
https://themortgagecalculator.com/Page/Loan-Officer-Sales-Training-Podcast

About The Mortgage Calculator:

The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as over 5,000 Non-QM mortgage loan programs using alternative income documentation! 

Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!

Our team of over 350 licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mortgages, P&L Mortgages, Asset Based Mortgage Programs, No Ratio CDFI Loan Programs, DSCR Investor Mortgages, Commercial Mortgages, Fix and Flip Mortgages and thousands more!

Our Mortgage Loan Originators are trained to be loan consultants to guide borrowers throughout the entire loan process. A licensed Loan Officer is only a phone call or zoom meeting away and always available to assist borrowers throughout the loan application process all the way to closing. To apply for a mortgage please visit our Quick Mortgage Quote Page at https://themortgagecalculator.com/Mortgage/QuickQuote

The Mortgage Calcula

The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as thousands of Non-QM mortgage loan program variations using alternative income documentation!

Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!

Our team of licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mo

Episode Transcript

(00:00):
So, welcome everyone.
My name is Kyle Hiersche.
I am the COO of the MortgageCalculator, and this is our loan
officer sales training that wedo every weekday at 12 p.
m.
Eastern, where we go through thefront end of the mortgage
business.
Today, we're going to be talkingabout staying motivated.
So, general training here, butalways some good stuff to get
pumped up and make sure that weare staying on top of things.

(00:22):
Let me go ahead and switch myscreen here, and we'll get into
it.
Okay.
So first of all, we talked aboutthis a little bit on the goals
training because I'm a big fanof this and attaching this to
your goals of knowing your why,right?
Why are you doing this now?

(00:42):
This could range from.
A lot of people, your children,right?
Is why you're doing this toleave them something or to take
care of them now.
Some of you may, maybe somepeople are younger without kids
and their, why is to go to thenightclub and pop bottles on the
weekends, right?
It doesn't matter what it is.
That's totally fine.
It's just knowing your why everyday when you wake up and

(01:06):
attaching that to your goals,right?
I want to do this.
And because I want to do this.
I need to do this, right?
And that's what we're going forhere.
So know your why go over itevery morning.
That's definitely a big one tostart your day with.
Hey, why am I doing this?
Why am I working so hard?

(01:26):
Let me stay focused on that.
And that will help me stayfocused on what I have to do.
Right?
Here's a little tidbit here.
40 percent of the competitionwas gone in 2024.
So as a loan officer, remember40 percent of loan officers
either quit or did not renewtheir license.
And I'm talking about loanofficers in the entire industry,

(01:47):
right?
So huge amounts of yourcompetition is gone.
So that should definitelymotivate you to get out there.
And remember.
These people, some of thesepeople are going to try to come
back when rates go down.
But guess what?
It's the people who've been hereworking, calling leads, talking
to them, following up with themand working the whole time that

(02:10):
are going to be getting thedeals, right?
You don't want to be 1 of thosepeople that just gets out of it
when things get tough and thentries to come back in when
things get good, because by thetime.
You get things up and runningwhen they get good, they could
go down again, right?
Cause you weren't putting in thework before.
So we're going to make sure weput in that work.
We stay motivated and knowingthat a lot of our competition is

(02:31):
gone.
And even here, who's left, a lotof them are not working day in
day out.
Like they need to be like weare.
To make sure that we are talkingto thousands of people, we have
hundreds of conversations goingon.
And that way it can actuallyequal a lot of sales when the
rates do come down and they canequal sales right now, right?
We're not just waiting for ratesto come down.

(02:54):
And then the law of averages, Ihave a few trainings on this
now.
Yes, it's a cool concept, butthe reason why I put it here is
because to me personally.
That's always been the biggestmotivator whenever I was doing
like sales, right?
I've had a few different salesjobs in my day, not a job, but

(03:16):
companies that I own where I hadto do sales.
Right.
And it's always been the biggestmotivator for me to just know
the law of averages, know that.
I don't need to dwell on whosays no, I don't need to know
why the people are saying no, Idon't need to be discouraged.
I just know if I talk to 100, Iget one or whatever the ratio is

(03:40):
and talk to 10, I get one.
That was a huge motivator forme.
So that might be a motivator forsome of you as well.
I have trainings like more indepth trainings on the law of
averages where we go over somemore of that, but I put it on
this slide here because again,Knowing that, understanding
that, utilizing that you know,it, it really helps motivate me

(04:02):
because it gets you part ofmotivation is getting you over
the hump of actually starting,right?
Starting and doing it and it canfeel daunting, but when you go,
Oh, Hey, I just got to talk to10 people and you know, I'm
going to inevitably get one andthen talk to 10 more.
Right.
And so it it definitely helpsmotivate.
Maybe it will help motivate youlike us.

(04:23):
Or like myself.
And a tip here for the loanofficers at the mortgage
calculator, use coach Calvin AI.
So coach Calvin which you havein your CRM the coach Calvin AI
tab there is, you know, the, thecoaching version of Calvin,
right.
And he can keep you motivatedwith like daily motivational
quotes and you know, actionplans to help promote and

(04:46):
promotion ideas and stuff likethat.
So.
Feel free to pop onto that coachCalvin tab and ask, you know,
for some daily motivation orinsight or you know a good
action plan to go promote thatday or, or get new deals.
So definitely utilize coachCalvin because remember he has,
you know, almost everything onthe internet in his brain.

(05:09):
Plus he has a bunch of specificstuff that we put in his brain
too.
So he's got a lot of stuff hecan offer you.
Okay, so here we go.
Let's talk about actuallygetting into it here.
So a lot of this again, a littlebit overlapping with the goal
setting training, but to staymotivated, we got to have a

(05:32):
clear side of what we're doing,right?
Because a big part of stayingmotivated.
Is, you know checking off theboxes when you do it, a big part
of staying motivated is gettingthe stuff done yesterday in
order to get the stuff donetoday.
Because if you don't get it doneyesterday, then today just kind
of slides by.
I didn't do it yesterday.
I don't really have to do ittoday either.

(05:53):
Right?
It's all about knowing whereyou're going, the clear site
plan.
Because again, it's, it justadds up and gets daunting if
you're not knocking it out everyday, taking care of it.
And a big thing with stayingmotivated is giving yourself
those little pats on the backfor hitting those small
accomplishments.
And it's very important if youdon't have the goals, then you

(06:15):
can't, you know, you have nomeasure to do that.
Right?
So.
The big thing here that I wouldgo over is set your goal for
your production, right?
What do you want your productionto be?
Or maybe better yet, what do youneed your production to be to,
you know, make enough, enoughmoney, right?
To support yourself.
And so we want to set the goalfor production.

(06:35):
That's going to allow us to kindof work backwards a little bit.
To get our goal for prospecting.
So if you haven't watched ityet, watch the goal training.
I go a little bit more in depthinto that, but essentially, you
know, we need to know wherewe're trying to hit and then we
can kind of reverse engineerthat and say, okay, well, you
know, I'm going to have to callprobably 300 people in a day to

(06:56):
end up getting, you know,talking to, you know, the 10
that move forward with you know,a quote, and then the one that
moves forward to.
finish their whole application.
And you know, if I can call 300people a day, get one finished
application a day, that's goingto equal X amount of loans per
month.
Right.
So, and you'll start to findobviously your ratio there, but

(07:18):
it's going to start with settingthe end goal and then kind of
work backwards from there.
Right.
So most of you, I would say bareminimum need to be doing a
hundred calls a day in the autodialer.
Right.
In addition to the leads thatyou're getting and stuff.
I mean, a hundred is a nice.
Small number you can make, youknow, 500 calls a day in the CRM

(07:39):
if you sat down all day and wereto do it.
So a hundred calls is a veryattainable goal on a daily
basis.
And you know, I think that'ssomething everybody should shoot
for, bare minimum.
And then another motivation heretoo at the mortgage calculator.
Remember that there are a lot ofcareer path opportunities here,
right?
As soon as you are, you know,have closed your six loans.

(08:02):
In the past 12 months, youpassed the senior test.
Now you're a senior loanofficer, you're making more
compensation, you have morecontrol you get even better
leads, right?
And then you can also move up toa team leader and make overrides
on other loan officers byhelping them.
And then if you want to take iteven further, you could become a

(08:25):
branch, a branch manager, right?
Now that requires actualinvestment, right?
You got to get an office and allthis type of stuff, right?
So that's more of a, I guess,kind of a business venture,
right?
But the path here is very clear,very simple.
We make it very easy.
There's no huge roadblocks.
You don't have to have 20 yearsof experience to become a team
leader.
You just need to be a seniorloan officer, be closing loans,

(08:49):
know how to use our systemeffectively and be able to help
other people use our systemeffectively.
Right?
So it's a very clear path here.
There's no nebulous thing whereyou got to be a super
experienced loan officer and behere for three years before you
can be a team leader.
You know, we have a very a clearcut path here.
So that should be.
some motivation as well.

(09:10):
You know, for example, one ofour team leaders, Evan you know,
he, that was his goal, right?
When he first got here was to bea team leader and now he is.
Okay.
So just a couple of tips here.
Some of you may have seen me goover these, but just some
motivational speakers that Ilike to listen to, right.

(09:31):
And then I'll give you some,some book titles, but Ricky
Caruth is a good one.
So Ricky is an, he's actually arealtor, but he's like a, he's
super big on.
making calls, right?
Getting people amped up to makecalls.
The fact that people don't makecalls and they just make excuses
for making calls.
So he is in real estate and it'svery applicable to what we're

(09:54):
doing.
But again, he has a realtor.
He's not an actual loan officer.
There's not, there's not a lotof motivational speaker loan
officers out there, but there'sa lot of realtors that are, you
know, also motivational speakertype people, but Ricky Garuth is
good.
He'll get you in the right mindstate to pick up the phone,
right?
Grant Cardone.
Right.
He's pretty good.
Not necessarily a motivationalspeaker necessarily.

(10:18):
I guess more of an informationaland inspirational maybe.
But I say this on some of theother trainings too about Grant
Cardone.
Same thing about like the biggerpockets podcasts and all this.
When you listen to these people,you're listening to what your
clients are listening to, right?
Your clients that are the peopledoing a bunch of DSCRs and the
people who are doing the burrs,the fix and flips and all this,

(10:41):
this is who they're listeningto, they're listening to Grant
Cardone's, they're listening tothe people on the bigger pockets
podcasts, right?
So not only is it goodmotivation for you and good
information for you, but it'salso important to know.
put yourself in your client'sshoes.
These are the things that aremotivating them.
These are the YouTube videosthat they're watching.
They got them excited enough toput up a down payment to go buy

(11:03):
investment properties or, youknow, whatever it is, right?
So it's always good to know whatyour clients are, you know,
listening to Tom Ferry, anotherrealtor, kind of just general
type stuff.
Jim Rohn and Zig Ziglar, thoseare my favorite motivational
speakers.
They're just general, they havenothing to do with real estate
and they're, A little bit moreold school and then Gary Vee.
I'm sure a lot of, you know,Gary Vee more so on the social

(11:27):
media side, but he is absolutelya great person to watch, to
follow not just for socialmedia, that's essentially most
of what you would probably takeaway from watching him and
following him.
But just general inspiration.
I mean, the guy just works,works, works.
And so he's a very inspirationalfollow and watch.

(11:48):
And a couple books here theslide edge by Jeff Olson.
I do a whole training on this.
That's super amazing conceptbook.
Absolutely changed my life.
I wouldn't be here.
Nick and I wouldn't be on thepath that we were set on until I
read that book.
So it absolutely changed mylife.
Think and grow rich by NapoleonHill.

(12:08):
A great one.
I'm sure most of you have heardof that and the richest man in
Babylon.
Another great one.
Never had a job.
That's my first book.
And then father, the lead is theone that I did with Nick.
So just a couple ofrecommendations there for some
different books.
The slide edge first andforemost, like I said, it
definitely changed my life, so Iwould definitely recommend that

(12:29):
it's on like Amazon and stuff.
You can get it on like Kindleand stuff like that.
And you can order it onpaperback or whatever, if you
want.
But just some good books there.
So, again, a couple of goodbooks there.
You might want to jot it down atleast the slide edge, a couple
of great motivational speakers.
Remember with the motivationalspeakers, like I've talked about
in the past, follow them onsocial media.

(12:49):
I'm telling you, it's soimportant to do this.
Because then they're injectedinto your daily life, right?
So follow all these profiles.
Even these gentlemen who havepassed away Have social media
profiles where they post everyday motivational stuff in their
videos and stuff, right sodefinitely Follow these people
so that every day when you pullup your instagram tiktok or

(13:13):
whatever it is You you use youknow, you see them in there and
they're just injected it.
You don't have to remember to golisten to a motivational speech,
right?
It's, it's there for you.
They'll serve it up on a platterright to your Facebook page or
right to your Instagram, right,right to your phone.
So yeah, I suggest followingthese people for sure.
And that's it today.

(13:33):
Just real quick.
Like I said, quick, generaltraining here at the end of the
day, it's not easy to staymotivated in this business right
now, especially right.
But we have to, and I would saythe biggest point to leave
everybody with is that for thoseof you who are staying
motivated, who are making thecalls are the ones who are going

(13:55):
to see extreme success.
when the rates do fall, whichyou, you can see a lot of
success now.
I don't, I don't want todiscount that, right?
We keep talking about how whenrates go down, it's going to be
a different you know dynamic,but there's plenty of people
closing plenty of loans rightnow.
So I don't want to try todiscount the fact that you can
close loans now, but again, thepeople putting in the work,

(14:18):
right?
So.
With that being said, I think wecan go ahead and wrap it up.
I don't see any questions.
Remember, we do this 12 PMEastern every weekday where we
go through the front end of themortgage business.
So we'll be back tomorrow with anew topic.
I appreciate everybody tuningin.
We'll see you tomorrow.
12 PM Eastern for the nextepisode of the loan officer
sales training with the mortgagedocumentary.